EPISODE 6: How Malaysia Today ‘lied’ three years ago

ARCHIVES 2012

By MT Webmaster On Feb 13, 2012

Over the last three years, Malaysia Today has been harping on the inner workings and shenanigans in the corridors of power regarding the multi-billion MAS fiasco. My friends from the other side — the Umno Bloggers — then whacked me and called me a liar. My friends from the opposition totally ignored the issue. Today, the truth has finally emerged, as it always does in the end, although sometimes many years later.

THE CORRIDORS OF POWER

Raja Petra Kamarudin

Tajudin Ramli, Danaharta in the process of finalising settlement

(Bernama) – Former Malaysia Airlines (MAS) executive chairman Tan Sri Tajudin Ramli is in the process of finalising an out-of-court settlement with Pengurusan Danaharta Nasional Bhd and two of its subsidiaries concerning a civil suit involving debts of RM589 million.

His lawyer, Lim Kian Leong, told a three-man panel of the Court of Appeal here Monday that his client and Danaharta, however, required time to resolve a “last minute hiccup” on procedural matters regarding the implementation of the settlement.

“My client (Tajudin) believes that this matter (the case) can be settled,” said Lim, who had requested the court to adjourn the case until Tuesday to enable them to iron out some procedural matters.

Lim told the court that his client (Tajudin) also expressed confidence that the “last minute matter” could be resolved.

Consequently, the panel, comprising Justices Datuk Seri Abu Samah Nordin, Datuk Syed Ahmad Helmy Syed Ahmad and Datuk Alizatul Khair Osman Khairuddin, allowed Lim’s request for the appeal to be stood down until Tuesday.

Justice Abu Samah said the court would give a chance to Tajudin and Danaharta to settle and “hoped for the best”.

Meanwhile, counsel Ganesan Nethi, representing Pengurusan Danaharta, agreed to the adjournment, saying he received instructions from his client about the settlement but both parties wanted to iron out the terms of the settlement.

The other 38 parties named in the RM13.46 billion counter-claim brought by Tajudin including Naluri Corporation Bhd special administrators Mohamad Raslan Abdul Rahman, Ooi Woon Chee and Gan Ah Tee, Telekom Malaysia Berhad, Telekom Enterprise Sdn Bhd. Technology Resources Industries Berhad, Celcom (Malaysia) Sdn Bhd, Commerce International Merchant Bankers Berhad (CIMB), Atlan Holdings Bhd and Atlan Properties Sdn Bhd, objected to the adjournment.

Lawyers representing the respective parties supported a request by Telekom and Celcom’s lawyer, Lambert Rasaratnam, for Lim to give an assurance that the counter-claim against them would be withdrawn.

Lim responded by saying: “If I could give some assurance I’ll be more than happy to do so but the most I can give is that my client (Tajudin) believes that this matter can be settled.”

Senior Federal Counsel Azizan Arshad, representing the Government of Malaysia, which was also named in Tajudin’s counter-claim, however, did not object to the adjournment.

The court was scheduled to hear the appeal brought by Tajudin for three days beginning Monday against the decision of a Kuala Lumpur High Court in 2009 ordering Tajudin to pay RM589 million to Pengurusan Danaharta which manages the unpaid loans following the debts he (Tajudin) had incurred in the purchase of MAS shares.

He was ordered to pay Pengurusan Danaharta and its two subsidiaries the principal sum owed at Dec 31, 2005, of RM589,143,205.57, plus interest at two percent above Malayan Banking Bhd’s base lending rate from Jan 1, 2006, until realisation.

In his statement of claim, Tajudin had stated that then Prime Minister Tun Dr Mahathir Mohamad had instructed him to acquire a 32 percent stake in MAS (Malaysian Airlines) to bail out Bank Negara, which had experienced losses in foreign exchange.

ADDENDUMS

1. The Untold MAS story: Part 1 http://mt.m2day.org/2008/content/view/23997/84/

2. The Untold MAS story: Part 2 http://mt.m2day.org/2008/content/view/24040/84/

3. The Untold MAS story: Part 3 http://malaysia-today.net/archives/24085-the-untold-mas-story-part-3

4. The Untold MAS story: Part 4 http://malaysia-today.net/archives/24137-the-untold-mas-story-part-4

5. The Untold MAS story: Part 5 http://www.malaysia-today.net/archives/24183-the-untold-mas-story-part-5

6. The Untold MAS story: Part 6 http://mt.m2day.org/2008/content/view/24190/84/

7. The Untold MAS story: Part 7 http://mt.m2day.org/2008/content/view/24191/84/

8. The Untold MAS story: Part 8 http://malaysia-today.net/archives/24192-the-untold-mas-story-part-8

9. The Ramli Yusuff story: the real reason why he was brought down http://malaysia-today.net/mtcolumns/33666-the-ramli-yusuff-story-the-real-reason-why-he-was-brought-down

10. The billions that MAS lost: the shit is finally hitting the fan http://malaysia-today.net/mtcolumns/29091-the-billions-that-mas-lost-the-shit-is-finally-hitting-the-fan

11. The MAS loss discrepancy http://www.malaysia-today.net/mtcolumns/no-holds-barred/43092-the-mas-loss-discrepancy