Danny & Amok Take Two Year No Pay Leave

ARCHIVES 2012
By MT Webmaster

OK so Nazir Razak will get his money back first. Congrats bro. Banyak cantik. You are the clever one. What was your wife saying the other day about “justice” and stuff like that? By the way, just wondering, does CIMB have any kind of “advisory” role in this RM9.0 billion scheme as well?   

OutSyed The Box

First here is The Star :

PETALING JAYA: To cut costs, Malaysia Airlines has offered its workforce up to two years of no-pay leave during which time they can seek employment elsewhere but not at rival companies.  Those interested have up to June 30 to apply for the voluntary leave programme 
Folks, someone please ask Amburger to organise a thosai sit in at Khazanah Nasional and MAS to exert some pressure on Azman Mokhtar and Danny whatever to take this two year “No Pay” leave option. This is a much better course of action for the country – instead of  the Bersih morons making bloody fools of yourselves trying to cover Bapa Rasuah Malaysia’s liwatting @$$. 

The Khazanah dunggus have done it again. More billion Ringgit losses at MAS. Thats our money. 
Now they say they need more money to keep MAS flying. And ..err..guess what? Where do you think they will be getting this money from? (Not much lah – about RM9.0 billion only)? From you and me folks. The taxpayer will be bailing them out again. Read on.
Even the nenek tua in the kampong probably has better business skills than these dunggus. And they claim they even studied at university. 
Before we go any further here is a joke :  “MAS deputy CEO Mohammed Rashdan Yusof and his team had been working out a financing plan..” 
Folks, very shortly, you will all be laughing very loudly too. Trust me.  Here  be The Star :

  • another quarter of loss to the tune of RM171mil (March 31, 2012).

  • the fifth consecutive quarter of loss  

  • net loss for the first quarter in 2012 was RM347mil.

  • huge RM2.5bil net loss last year 

  • RM9bil fund raising to enable MAS to continue uninterrupted

  • (MAS) surprised the market place with a massive RM9bil fund raising proposal .

  • Government will set up a company that will pay for eight aircraft for RM5.3bil .

  • RM9bil financing plan is crafted in three pillars 

  • the issuance of up to a RM2.5bil Islamic sukuk, 

  • Government setting up a (SPV) to raise RM5.3bil to pay for eight aircraft, 

  • and capex of RM1.2bil .. funded by a loan facility 

  • draw down the first tranche of the RM1bil sukuk in June to repay the RM1bil bridging loan it had taken from CIMB Bank. 

  • second pillar, the Minister of Finance Inc will set up a SPV .. issuing RM5.3bil long-term bonds (guaranteed by the Government) 

  • The six A380 were initially ordered by Penerbangan Malaysia Bhd but subsequently MAS took over the order. However, under this new financing plan, MAS will assign the rights to the SPV which will own the aircraft and MAS will pay for the leases over the period of the funding.

  • MAS said that should its plans fall short, it would fall back on its parent company Khazanah Nasional Bhd to step in to provide financial support” Rashdan told StarBiz.

Folks, listen to this :  “..draw down the first tranche of the RM1bil sukuk in June to repay the RM1bil bridging loan it had taken from CIMB Bank..” 


OK so Nazir Razak will get his money back first. Congrats bro. Banyak cantik. You are the clever one. What was your wife saying the other day about “justice” and stuff like that? By the way, just wondering, does CIMB have any kind of “advisory” role in this RM9.0 billion scheme as well?  

READ MORE HERE

 



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