MAS-AirAsia swap deal signals ETP failure, says PKR

By Debra Chong, The Malaysian Insider

PETALING JAYA, Aug 23 — PKR strategy chief Rafizi Ramli attacked today rival airlines MAS’ and AirAsia’s recent share swap deal, claiming it was an example of the ruling Barisan Nasional’s (BN) misuse of government-linked companies (GLCs)to fund mega projects to avoid being publicly accountable.

This, the economist told reporters, was an early signal Prime Minister Datuk Seri Najib Razak’s Economic Transformation Programme (ETP) had failed.

“For a start, the deal amounts to Khazanah Nasional Berhad’s tacit admission that the two business-turnaround-plans (BTPs) implemented since 2006 under the stewardship of two CEOs have failed,” Rafizi (picture) said.

“The latest ongoings in MAS is the clearest sign that Datuk Seri Najib Tun Razak’s much-touted economic transformation has also failed,” he added.