Ecm-Libra/Avenue Merger and approval of Air Asia Singapore route
Posted by ~Ray @ 2007-12-20 22:17:22
An extrovert with an appetite for political discussion. If I have erred if I have sinned,I appeal salvation only to God not to men.
I wish to refer to the Malaysiakini article ‘Air Asia: Its like going to the Moon.’ Yes. Tony Fernandez and Air Asia has every right to be in a jubilant mood after having obtained the rights to fly the Kuala lumpur to Singapore route. After all its a gold mine despatch previously the monopoly of our MAS airline. But why the sudden change of mind to give this lucrative route to Air Asia when the logical decision would be to allow the status quo to remain and let MAS collect the profits while it is on its path to recovery? The answer can be found by referring to the ECM-Libra and the Avenue merger. Prior to the merger. Kallimullah and Khairy Jamalluddin (son-in Law of P. M) bought a block of shares in ECM-Libra and lo and behold one month later ECM-LIibra sealed the broach with the cash-rich Avenue merger. Of course someone at the Ministry of Finance had to authorise the deal and guesswho? If we were to recall a few months earlier. Kallimullah bought a stake in Air Asia. I am not sure whether Khairy has a stake in this deal but the deal is certainly very suspicious if not a bitfishy because one month later a smiling Tony Fernadez was gushing with experience and annoucing to the world that the Singapore route was like Air Asia going to the moon. And why not? It was like manna from heaven. CEO of MAS. Idris Jala could not conceal his disappointment and who could accuse him? It was alucrative and profitable route which MAS had prevously had bushel monopoly and now it was to be shared with Air Asia. Perhaps it would be appropriate to ask the P. M why the interest of the country’s own airline was sacrificed and why a public owned airline was given a overlap of the lucrative route? The ECM-Libra and the Air Asia episodes seem to reveal a very ingeniuos and systematic way of plundering our nation’s wealth by our leaders. Well done P. M. I didnt know you could do so come up while sleeping on your job. Perhaps I was wrong. [ADVERTHERE]Related article:
http://dq6633.blogspot.com/2007/11/ecm-libraavenue-merger-and-approval-of.html
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