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Sakmongkol ak 47

Saturday 20 August 2011

The MAS turnaround was real debate

The MAS Turnaround was real

You people better sit up and listen. All those talks about Idris Jala not actually turning around MAS are all cock and bull. He did. You people are just envious. You don’t think an unknown person from the Kelabit tribe can do the job. Hey man- he has the credentials. He worked with one the seven sisters.
These are probably the sniggering gestures the author had when finishing the last sentences of this article.
The author who worked with Jala during those impactful years reminded me of one African student in one of our seminars on economics in our post graduate class. He proudly informed the class that the main export of my country is labour and showed the class his biceps on the mention of the word labour. When our professor asked how he knows that, meaning he wants the student to elaborate and expand his statement by way of facts and figures- the student answered; No need for that- I know, I am from there. Our professor responded. In that case, we can’t debate your statement further.
You know, that is just it. The import of the author in this Mas turnaround was real article is similar. He knows. So that’s it.
Hello, in the name of intellectual honesty, we don’t have any problems in acknowledging what’s real from what is apparent. If Jala has done a good job, all credits are due to him. But the last sentence by the author in this article appears to reveal the true intention of the article- paint Jala as a larger than life figure. Would anyone, with an above average intelligence, given the terms of reference as that given to Jala, do the same thing and gotten all those achievements?
That should be our starting point. This nauseating myth building is just that- nauseating and reveals intellectual shallowness.
In order to evaluate what Jala has done, we need to have some reference point and comparison. How do you distinguish Jala? By giving out the facts and numbers comes the answer- as done by the author. Indeed they looked worthy and credible.
What made it possible for Jala to achieve those figures? He was given an electronic sledgehammer while those who came before him only had a small hand held hammer.
All the previous people who went in before Jala including the now infamous Tajudin Ramli, were not:- (1) allowed to meddle with routes because Malaysia needs those to advertise herself. (2) Can’t retrench the people in MAS (3) can’t sell assets. (4) MAS is also doing national corporate social responsibility. Plus many more constraints.
The most immediate question to ask, were there any additional facilitating factors that were available to Jala that were not given to previous lumberjacks assigned to the MAS jungle? Was Jala in fact given effectively a carte blanche whereas the previous people assigned to do it, was sent blindfolded with hands tied behind their backs. Of course it didn’t help matters when the person or person sent there, have personal wealth building agenda.
I just want to say to the gentleman who e mailed this article by Rashid Khan( not sure whether this Rashid was once a legal executive in Shell- I remember one fellow by this name who was with Shell in the late 80s) to hold on to his gloating smile. The jury is still out there. The scarcity of responses to the Rashid Khan article should not in any way be taken as inferring, his article is the gospel truth and should end the controversy.
If the setting up of Firefly was a sensible business sense and was credited with shoring up MAS’s operational profitability, its impending ‘eviction’ from the game must be prevented at all cost, by any means necessary, shouldn’t it? This issue whether Jala did right or stupid is just like the author said- a sub topic.  
Let’s see that after I post the Rashid Khan article in full. The article( minus all the slideshows):-
In the wake of the MAS-AirAsia share swap story that swept Malaysians into a multi-dimensional arguments and views by the politicians and uninformed public, one of the sub-topics that created doubts amongst Malaysians was the previous turnaround effort in MAS.
I was the fortunate few that served MAS during Idris’s tenure and here I am drafting this article to correct the perception that the MAS turnaround was not a mere charade as claimed by certain quarters. General phenomenon of short attention span by Malaysians has propelled this article to serve its objective as a refresher. The facts presented here are not new, most of which was shared to various internal and external stakeholders (including public at large).
Unlike the Peremba boys, Idris Jala was not a familiar household name to many Malaysians when Khazanah first made the announcement as the new CEO of Malaysia Airlines at the end of 2005. Against the backdrop of growing competition and bad management post-Mahathir era, politicians on both divides jumped whilst the cynics redefined the word MAS for Mati Anak Sarawak. Public and investor confidence was at its lowest after the post Wide Asset Unbundling (WAU) financial engineering exercise which was not designed to solve the operational problems. This took place before Idris came to the office. Coupled with Tan Sri Tajudin Ramli’s legacy issues and growing competition by regional carriers and low cost carriers, public was anxious to what this underdog from a small Kelabit tribe in Bario was capable off. Backed by 23 years of turnaround experience in Shell London, Shell Sri Lanka and Shell Malaysia, Idris took the MAS office with a storm.
Idris launched two distinct strategies during his tenure, i.e the Business Turnaround Plan 1 (BTP1) and Business Transformation Plan 2 (BTP2) which consist detailed, step by step process on what the company needed to do in order to stay afloat. The BTP1 and BTP2 can be downloaded from MAS website.
BTP1 was launched to turn around the company from a loss of RM 1.2 billion in 2005. At that time MAS was faced by two issue; cash crisis and profit crisis. In 2005, MAS has only RM 600 m cash reserve that can last the company only less than 3 months. MAS management took a pragmatic approach to anchor all key business activities on the P&L (i.e things which moved the bottom-line).

The BTP1 is a 3 year programme focused on revenue enhancement and cost reduction. Before 2005, MAS producing losses in the tune of RM 260 million to RM 836 million. After 1.5 years BTP1 was launched, profit has seen a record high, RM851 million.
I would like to focus on the revenue and cost figures to show evidence in operational improvements (and not one-off gain, fancy accounting exercise, or mere fluke!)
For revenue, from the MAS Annual Report the revenue increased from RM 13.4 b (2006) RM 15.2 b (2007), RM 15.5 b (2008) through various revenue enhancement initiatives. That includes Route Profitability & Rationalization, Yield Enhancement exercise, Network rationalization, etc. See chart below.


Total Revenue
Total Expenditure

Operating Profit

Shareholders' Funds

Seat Factor

The highest revenue achievement by MAS in 60 year highstory was in 2008, at RM 15.5 bilion. If you break it down further, the one of gain selling of assets such as the MAS building, Four Seasons, etc are insignificant compared to the operating revenue that the company was generating through a series of drastic measures like route profitability analysis, increasing yield, network rationalization and many others.
MAS realized the Revenue per Available Seat Kilometre (RASK) at 4 USD cents was lower compared to the national carriers like SIA Cathay Thai are operating between 5 to 9 USD cents. At the same time, alot of routes were not profitable. Hence, route profitability exercise was done to cut / stop the routes which are not profitable. A classic example was the Langkawi-London, KL-Kuching-Perth and KL-Manchester. Even AirAsia doesn’t want to fly to Manchester although the air rights was available to them.
The key revenue lever is to increase yield (i.e profit per seat), expressed in Revenue per Available Seat Kilometre (RASK). As you can see from the chart below RASK improved by 45% during Idris’s tenure. This is REAL OPERATIONAL IMPROVEMENT and NOT mere fluke as claimed by Anwar and many others!
In optimizing the operating cost, more than RM 2 billion was saved between 2006 – 2009 through a series of cost initiatives. From fuel management, salary freeze, manpower optimization, process improvements, engineering breakthrough projects, and many others. At the time data was available, 2009 was the highest cost saving target that MAS could ask for. This is not mere charade as claimed by many, it requires hard work and dedication from MAS employees to make this a reality.

Many sceptics during that period were worried that the cost reduction initiatives will impact the level of customer service in MAS. In fact a quick look at the number of awards received by MAS between 2006 – 2008/2009 (during Idris’s tenure) revealed that the highest number of awards (i.e 21) was achieved in 2008. 5-Star Airline award by Skytrax and The best cabin crew award were the common annual accolades received by MAS during Idris’s tenure.
BTP2 was launched to transform MAS into a 5-star value carrier. The impetus of change was driven by global and regional competition. At that time, the growing threat of Air Asia and the new order of airplanes from regional airlines have propelled MAS to transform its business model. It was a do or die situation.
 BTP2 clearly projected best case scenario of RM 1.5b profit by 2012 and worst case scenario of RM 650-1b loss by 2012 if the company do not execute a list of projects (i.e Revenue Enhancement Project, Cost Reduction Programmes, Procurement Revamp, Network & Plan, MAS Campaign, Project Delta and many more.
MAS laid out a clear roadmap in BTP2 expressed in the chart below. It shows the MAS needs to grow profitability by taking clear 5 step process.
The first step is to maintain 5 star service. During Idris’s tenure, 490 customer service improvements carried out was a strong evidence that the commitment was real.  
Second step was to reduce cost. That is why MAS tracks the cost savings (direct and indirect) on a yearly basis. This is where Project Delta was introduced to reduce cost at various operational departments such as Airport Operations, Flight Operations, In Flight Services and many more.
After cost is reduced to an acceptable level, only then you can introduce the third step, i.e to offer competitive pricing. This is where MAS introduced the Everyday Low Fares that shocked Air Asia, MH Value Fairs and many other products. This will in turn get more passengers and revenue.
And the final step is to grow the network, i.e to introduce new routes based on demand. The chart below was showed many times to the public and MAS internal staff.
It is evident that the roadmap of the BTP2 was clearly laid out for the management to follow (see Chart below). It contains sustainable improvements that need to be executed in logical stages (i.e MTM- Making the Most, GNB – Gaining New Business, BNG – Breaking New Ground). The success of BTP2 lies on effective execution. Sustainable improvements (i.e processes, system) can be yield positive results if the initiatives are managed and deadlines are adhered to.
A classic example of the BTP2 roadmap action was setting up Firefly (under the Gaining New Business) to capitalize the turbo prop operations via Subang for the convenience of the Klang valley population.
The BTP2 is not a fluke. BTP2 was not a “wahyu” from God. It is a compilation of a well thought process by the management based on the economic and aviation landscape.

The famous quote “Melayu Mudah Lupa” by Tun Mahathir should be rewritten as “Malaysians Mudah Lupa”. However Google search engine never failed to refresh our memories.
The glory days of MAS turnaround witnessed numerous financial analyst reports being published and loads of commendations from international airline organizations. Lets not forget the MAS share price was historic high during Idris’s tenure. MAS turnaround story was even featured as MBA case study by Harvard University. It was a classic Jack Welch story that can be replicated by many leaders out there.
No success can be achieved without relentless support of 19,000+ MAS employees who have been dedicated and committed during Idris’s tenure. The turnaround effort was real. The turnaround effort was due to blood, sweat and tears of MAS people.
Although more data can be presented to showcase the operational improvements in MAS during Idris’s leadership, there is one key ingredient that made the difference. It was not the BTP1 or BTP2, but it was the man himself.


Anonymous,  20 August 2011 at 12:24  


the problem is after rounds of cost-cutting; what significant cost has been cut further?

the profit seems to be based entirely on the formulae of growth of income minus the cost cuts.

how much operating costs can be saved further save for the cuts to other non-operating costs???

future is bleak unless the corruption and the losses caused by the very people whom the jewel has been entrusted to is brought to justice.



make fun 20 August 2011 at 12:36  

Hello tuan, saya telah dikaitkan web yang bagus anda, supaya anda boleh link blog saya?Saya berharap anda tidak keberatan ...
ini adalah blog saya

nasib baik

Anonymous,  20 August 2011 at 13:22  

Bullshit comes in different flavors nowadsys.Anyway you only need to ask two questions. ;

1. If it is real why did it collapse less than 2 years later?Operational improvements don't disappear overnite.
2. Why is MAS audited balance sheet showing increasing "realised accumulated loss".The figure was about 1.7 bil when he came in and 5.6 when he left.This cum loss figure is for real and cannot main2 one.

Maybe WAU was a financial turnaround (thus money improve) and BTP is an operational turnaround ( money deteriorates ).Why is govt bullshitting us.The fact of the matter is both Azman n Jala did a smoke n mirrors job and got themselves promoted.
Now govt realises that they're not do godly at all but instead of sacking them,Govt is circling wagons to keep them alive.
Truly Azman n Jala are snakeskin salesman fueled by a battery of consultants.Between the two of them there is zero business experience and less of common sense.

Azman n Jala will destroy this country.You must continue the fight to expose the scam.

nick 20 August 2011 at 13:26  


What puzzle me the most is the need to rescue or bail out or "save MAS" once more? If this Khan fella was "right" and Idris jala did found the best and the only workable formula to turn-around MAS, why did Mas make another turn-around and went back to where it was before, IN THE RED?

Did Idris Jala really turn MAS around or did he made MAS turn 360 degrees (which means that in the period when MAS did make a profit, it was really only half way in the turn around process and would ultimately turn back full circle and still be in the "RED"). That sounds logical and maybe that was the real goal. Put in a "turn-around" manager who for a brief period did make MAS linger briefly in the "black" and then with all the praises and huha still echoing on the background, elevated him to a new position where he can do the same "magic trick" that will bring forth incredible growth figures and then Najib can call for GE. By then, after the GE and BN should already won the keys to Putrajaya again, it really doesn't matter that MAS was back in the doldrums and in need of billions of taxpayers money to stay alive.

I would rather trust my instinct and say that my hypothesis could in all likelihood be true and the khan fella discourse with figures and plans and formula just doesn't support the outcome of MAS, really. After all, like RPK always said, in Malaysia the rumors most of the time are true and facts and figures from the gomens most of the time are simply "bovine excrement"!


Anonymous,  20 August 2011 at 13:36  

Bullshit comes in different flavors nowadsys.Anyway you only need to ask two questions. ;

1. If it is real why did it collapse less than 2 years later?Operational improvements don't disappear overnite.
2. Why is MAS audited balance sheet showing increasing "realised accumulated loss".The figure was about 1.7 bil when he came in and 5.6 when he left.This cum loss figure is for real and cannot main2 one.

Maybe WAU was a financial turnaround (thus money improve) and BTP is an operational turnaround ( money deteriorates ).Why is govt bullshitting us.The fact of the matter is both Azman n Jala did a smoke n mirrors job and got themselves promoted.
Now govt realises that they're not do godly at all but instead of sacking them,Govt is circling wagons to keep them alive.
Truly Azman n Jala are snakeskin salesman fueled by a battery of consultants.Between the two of them there is zero business experience and less of common sense.

Azman n Jala will destroy this country.You must continue the fight to expose the scam.

Anonymous,  20 August 2011 at 13:44  

I agree with you MAS was turned around. Then why share drop from RM8.50 to RM 1.50. Based on your report the share price should have gone through the roof. Final, MAS doing so well why do you need Air ASIA which is only a budget airline to teach you what to do.

Anonymous,  20 August 2011 at 13:49  

bodoh lah. .branding jala as equal to bob welch?
You can see the bullshit just by looking at figures this guy presented.Compare 2008 operating characteristics to 2007.Everything just got worse.
MAS flew less routes thus more fixed cost per km.RASK also dropped dastrically.
.2007 results had a lot of extraordinaries incl unavailed credit,VSS credits,share of profits on airplane sales n some writebacks on kitchensink exercise.
So Jala turnaround is only good for 2 years?After that collapse like ton of bricks.And looks like Pemandu heading same way.Mati lah kita semua.
We have to apologise n beg forgiveness from our anak cucu for burdening them with debt incurred on worthless projects n phalluscis disease.They will suffer from our lack of will to fight the evil.

Patrick 20 August 2011 at 14:56  

Concise, precise and to-the-point rebuttal of all the critics of Jala's short lived tenure in MAS. If this does not vindicate Jala amongst his critics and people at large, then this has been a hopeless exercise in enlightenment. Without facts and information, many armchair ecnonomist and businessmen, were just ranting away with their 'expert' opinions based on mere 'crumbs' of info. Entertaining critics, not productive critics. This also applies to the deal between MAS-AirAsia. The public is not priviledged to more info to make better judgements and criticisms on the deal. I am still of the opinion Jala is the most capable person to head Khazanah to guide the sovereign fund to greater heights and not the current CEO.

Using this article as a backdrop, we see that the people must take every effort to change the current regime quickly to stop the rot in our beloved country. Our country has many natural assets and advantages that can be capitalised further to turnaround our country, economically and socially. But we will need leaders and a team of leaders to be sharp, passionate and focused in their duties and responsilities that will be mandated by the people of Malaysia.

Out biggest asset is our yet untaped talents that are all over the place. Economically, it will not be easy as to require 5 years to turnaround. The new govt has got to review all the current legislations as well to adapt to modern times, even before embarking on economic turnaround. For without updated legislation, the economic turnaround is not sustainable.

Without sustainable economy, socio turnaround cannot happen. Hungry and marginalised will continue to demand further changes. For a proper socio turnaround requires an acceptance mindset to create a sustainable and manageable political climate that reflects the growing middle class economy.

This article demonstrates our urgent need to change govt and transform back our country with good and passionate people, who will put aside politics of antoganism and work towards a unified and sustainable modern Malaysia. The new govt will need at least 2 terms or 10 years to turnaround Malaysia. And there is no shortcut about it. No hiding of information for selective political purposes.

Anonymous,  20 August 2011 at 16:24  

I agree with you. If that is the case then why this sale to Air Asia. And two why did the share price drop from RM 8.00 to RM 1.50. Now even the denials are empty.

OneMalaysian,  20 August 2011 at 16:34  

Dear Sakmongkol

“The most immediate question to ask, were there any additional facilitating factors that were available to Jala that were not given to previous lumberjacks assigned to the MAS jungle?”

If those other lumberjacks went into the jungle with a remit to cut timber but didn’t go in with an axe, as Idris Jala did, then we must conclude that they were fools. This sort of turnaround manager should never have been given the job in the first place.

We do not know for a fact when Jala was employed whether he was given carte blanche to act, or he asked for that in order to do the job he was asked to do. But if he did ask he was smart. And by implication the others were dumb.

So let us not diminish the achievements of Idris Jala. Even when you have all the tools it does not mean you can do it. All professional golfers have 14 clubs in the bag, yet not every golfer could achieve what Jack Nicklaus or Tiger Woods achieved on the golf course.

Some people say Warren Buffet, the best investor the world has ever known, was plain lucky. He said in reply that it was not luck at all. It was all due to a certain style of investing – buying value stocks and holding then forever. He laid out a “formula” and said anyone who is disciplined enough to follow it will prosper just like him. Many did, although not as well as him.

Idris Jala laid out Business Turnaround Plans 1 and 2, and actually followed them to success. There was no luck, but hard thinking, hard work, and the willingness of MAS staff to believe and follow his plans. That’s a good business leader. So let’s give credit where credit is due - whole-heartedly and not grudgingly.

THE TROUBLESHOOTERS 20 August 2011 at 16:52  

I would not waste my time reading this load of verbiage from Dato Rashid.

Despite of all the BTPs and consultant laced terms, Jala’s team had failed miserably to resolve the issues raised by the late Tan Sri Azizan in 2001 and 2003 listed below.

SEPT 2001

SEPT 2003

Anonymous,  20 August 2011 at 17:07  

I read Rashid Khan's article half way. I stopped reading because through experience, you know when bullshit is served....too many tables/charts/acronyms. If indeed Idris jala was fantastic, he could have done a summary and comparison where you can immedately see upon reading. Eg of good writing is

Anonymous,  20 August 2011 at 17:55  

‘What made it possible for Jala to achieve those figures? He was given an electronic sledgehammer while those who came before him only had a small hand held hammer.’

This is unfair!

As an CEO of a company, one must know one’s authority. Meaning - before taken up the job, one must 1st understand one’s own ability, 2nd be able to identify the tasks involved & negotiate the terms of management so that one can exercise one’s best ability to navigate the company out of the trouble.

I’m not sure what’s Jala’s terms. Neither am I familiar with those who came before him. These terms might never be transparent & we all end up guessing.

If Jala has been given an ‘electronic sledgehammer’, then isn’t it to Jala’s credit that he see that that’s the best management tools to bring MAS out of the water? & if the board of directors (BOD) bought his idea, then wasn’t that a collective responsibility? The BOD has seen many come-&-go personality & management proposals, forced or otherwise by some higher up, & yet they r willingly buying into Jala’s term, r there something they know that outsider don’t?

OTOH, if those prior to Jala’s appointment failed in their efforts, then why complained that they r only be able to use ‘hand held hammer’ only. A small one too.

Wasn’t the hammers were been proposed by them after they took on the charge & sold the idea to the BOD? or were these small hand held hammers been forced upon them by the BOD? Which is which is not important – bcoz they all mean that that personality has no what it takes to see the problem at large & argue to use the best management tools to resolve the issues at hand.

If he is been forced to used small hand held hammer, then he should reject the job, period, national service or otherwise!

If these personality can’t argue the case with the BOD in order to sell them his idea, then he has no role to play in re-invent MAS.

If he is still holding the position of the CEO, then either he is into syok-sendiri-ism (small head wearing big hat), or he manages to con the BOD with his flowery talk. The chance of the last scenario occurs also means that the BOD is a bunch of idiots (never learn after been through so many similar cases).

Of course, there is also that element of maruah bangsa - Malay bolih! How many more Malay CEO do MAS need?

But then, can u guy see further?

If MAS (like now) keeps losing money, with 2015 Asean open sky policy dawned & the govt has no more money to act sugardaddyly, majority of the 19K+ MAS employee will eventually losing their cosy jobs. Who r they?

Silo view vis-à-vis the B&W cat proposition.

Neither is this a case of in-house expert(?) better than industrial outsider. Any management guru will be able to tell u why. In fact wasn't Faud, the MAS CEO after Tajuddin, an airline veteran(?)? Perhaps he is the representative of those fat cats lying around MAS, thinking sugardaddy is forever close-by. No?

walla 20 August 2011 at 18:21  

MAS Turnaround Plans

Harvard Case Study On MAS Turnaround

nb: charts from the plans omitted in the text by way of the missing/repeated pages.


Anonymous,  20 August 2011 at 18:39  

This Rashid suddenly becomes a great writer...maybe he has been taking evening courses in writing.
Well done rashid

OneMalaysian,  20 August 2011 at 18:50  

Dear Sakmongkol

Let me make 2 quick points.

If I were obese, in poor health through a combination of bad diet and having no exercise, my doctor’s prescription for a return of good health is predictable: eat properly and exercise. So I eat according to a plan and go to the gym regularly. Sure enough after 2 years my weight is back to normal and I have even put on some muscles. What do I do? Since my health is now good I stopped punishing myself with diet control and having to sweat it out at the gym. I am back on the weight escalator.

This was what happened at MAS. The improvements that came with the Business Transformation Plan 1 must be sustained through continuous effort. But after Idris left (just at the start of BTP 2) MAS must have relapsed to old habits. Change management is continuous. It must be part of an organisation’s work culture. Improvements are not a one-time exercise.

Second, Idris was taken off to do the Economic Transformation Plan before he had the time to fully implement BTP2. He therefore did not have the time to change the work culture at MAS. He couldn’t change the “silo” mentality. The problem is due to the severe lack of Bumiputra talent at the highest echelons of business organizations. There are so few to spread around the GLCs. This is a self-inflicted problem because the government by some unspoken policy excludes non-Bumiputras, so the talent pool is severely restricted. Well, that policy allowed a music executive to start a low-cost airline with RM1.00. And as they say, the rest is history.

Anonymous,  20 August 2011 at 18:57  

Wat cost saving ur talking about?
U study lah the numbers..
2006 .23
2007 .26
2008 .29

CASK is real cost.If you say ur cheaper this number must be lower NOT higher.

And this number will reflect how u use your resources..u keep ur planes in the air,you keep ur staff busy working with customers (not doing powerpoints n townhalls)..this number becomes lower.

So JALA turnaround is bullshit cos CASK up by almost 30% in 2 years.This is after the govt sponsored VSS..myb also the PMB subsidised domestic ops.

OK..clear cut answer by analysis from Rashid's own numbers..a thrust to the heart,Jala turnaround is smokes n mirrors,

bruno,  20 August 2011 at 22:01  

Dato,first let me put in my two cents worth.I am not an expert with figures, so crunching numbers is not my forte.But I have always stressed that if MAS were to be run as a private business concern,
leaving out the politicians and their appointed cronies,from the cookie jar,it can be as profitable as any state run or any airlines.

Looking back at history,when MAS came into existence after the split with MSA.MAS and SIA had equal share of the management and the air routes.After the split both airlines were profitable.Or else how come then MAS was the pride of all Malaysians,and the favourite hunting ground of many potential job seekers.

If MAS was spared from political interference,we wouldn't be surprised how far successful it would have been today.Now we will never know.But with sound professional management there will
always be light again at the end of the tunnel.

Thirty years ago we would never have imagined,that the GOM, will allowed any new local low cost airline to complete with MAS.Something doesn't make sense here.Why have a low class whore to complete with your high class prostitutes,when you have complete control over the sex trade.

Now let us look at a different entity.In New York City,there is a state run Off Track Betting(OTB)for
horses.The OTB's total revenue has already been pre-distributed among the various government agencies.
Thirty percent goes to the state,ten percent goes to the horsemen's fund.The rest remains with OTB.It doesn't take into account whether the balance left for OTB will leave it in the red or black.

Of course with the big chunk of the cake being eaten up by the politicians,and the high salary
and perks being paid and given to their appointed cronies,it has been a lossing concern ever since.
Bailouts after bailouts,after four decades,the City of NY said enough is enough.The cake is being eaten by the state's government,and the city has to bailed them out.So the city shut it down.

The OTB is now bankrupt and shuttered.What was to be a sure
profitable business concern,OTB was run to the ground by the politicians for their greed to get their hands on the funds.The OTB was set up during the end of the recession of yesteryears to create jobs and help the local economy.
Now all the workers are unemployed
in this coming major recession.And it has gone down as the first lossing and bankrupted legalised bookie in betting history.

OTB is like a racehorse, who is the length of the stretch in front,
at the home turn,a sure winner only to break down a couple of inches before the finish line.MAS was in this situation before Mahathir and gang raided the cookie jar.

p/s i hoped that i didnt have too many commas this time.(bro anon 18 august,2011 14:34)

greenbottle,  21 August 2011 at 01:13  

when i was a student somewhere down under years ago, some of the more naughty but brilliant students adopted this strategy when it comes to giving presentations and writing reports. it is this. IF YOU CANT DAZZLE THEM WITH BRILLIANCE YOU BAFFLE THEM WITH BULLSHIT....

i don't bother to read any of the bullshit spins with regards to MAS... the fact is MAS is fucked...oherwise how the hell one can explain this incest with this AA ?...anyway, as much as i hate singapore i always and continue to fly singapore airlines business class for business trips...

THE TROUBLESHOOTERS 21 August 2011 at 06:49  

Actually folks, Jala was asked to resign THREE times but he refused to step down until the Government bribed him to be a Senator cum Minister and cum everything else.

I am willing to testify or my name is not Troubleshooters.
Email me :

Anonymous,  21 August 2011 at 08:10  

Good one, Anon 18:39
"This Rashid suddenly becomes a great writer...maybe he has been taking evening courses in writing.
Well done rashid"

It is MAS Culture to outsource the writing and also the thinking to CON_SULTANTS.
Maybe Jala himself paid both Rashid and Con Sultants and that is why Datuk Rashid is now the Sarawak Tourism Board CEO.

Another valid point by Anon 20 August 2011 17:07
"If indeed Idris jala was fantastic, he could have done a summary and comparison where you can immedately see upon reading. Eg of good writing is"


Anonymous,  21 August 2011 at 10:20  

It is also known that Rashid Khan was not asked to stay on in MAS to continue the BTPs why? If that is the essence that this superb turnaround success as claimed by Rashid then senior executives like him should have been extended to continue the good work. Iam of the opinion that whilst Jala is the strategist, the key and senior executives like Rashid are the implementers and executors to the Plan. So the failure of the BTPs and whatever acronyms they have cooked up from the Labs are really the responsibilities of the senior team. So what went wrong there? Making Jala 'godlike' is in bad taste.

Anonymous,  21 August 2011 at 11:26  

dont agree with your article. is selling off asset include in the revenue show higher income.. that misleading

Anonymous,  21 August 2011 at 16:55  

Dato' Rashid was extended beyond his retirement age fo many many years. He has a long and colourful history with MAS. he owed Jala a lot hence the article....mau hidup ma...

Anonymous,  22 August 2011 at 22:44  

Harvard case study alright .... on how to strip a state-owned company bare and rob a country blind and how to window dress the financials. This is a classic case of wide-scale sanctioned fraud by a government. It will be foolish of Harvard not to make this a case study.

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