2nd Finance Minister Nor Mohamed Yakcop described Idris Jala as the best CEO that money can buy.He said:
“When we decided to find the best CEO for MAS in the world, the best CEO that money can buy, we sent searching throughout the world but found him in Sarawak, Idris Jala."
Is it that money cannot buy other better CEO? If Idris is the best CEO in the world, then his boss in Shell Malaysia and Shell international and the stockholders in Shell must have been fools as they only placed Idris as one of the lower-rank top executive in a small subsidiary. I do agree that Idris was a much better CEO in direct comparison with the other cronies in UMNO and also better than many of the ministers and leaking MPs.
Nor Mohamed Yakcob had also forgotten that at the time when Khazanah & the govt was searching for a CEO, there were great political pressure and harassments from UMNO and UMNO Youth DeputyPresident that only a Bumi, accepted by UMNO Youth Timbalan, should be selected for the post. Idris then appointed several Mat Sallehs to head the turnaround. However, the turnaround was largely possible with the compensation of more than RM1bil from MAB and the substantial (between 30-50%) increase in airfares and surcharge which means the cost was transfered to the passengers. The other aspects of turnaround was the hiving-off the loss-making domestic flights. Another tactic used was to postponed flights that do not have enough passengers and consolidate them at a later flights, all at the expense of the customers. Is this called turnaround? Well, any Tom, Dick and Harry can do that too.
8 comments:
Ahemm....and 2nd Finance Minister Nor Mohamed Yakcop can be described as the worst finance minister that money won't buy. RM 30 billion was lost in stock market speculation during his tenure
Bwahahahahahaha, ROFL.
I can't stop it. When Yakcop say that, the only sentence pop up in my mind, "Apparently, they didn't pay enough for a better one".
Yeah, tell me what else money cannot buy here? ;-(
I agree with u doc. Anybody can do that job, I also can. Not just that, I also can climb mount everest, sailing around the world, go to the north pole, swimming inside the cage from langkawi to main land, go to space playing congkak, seremban or making roti canai, etc, etc...provided that govt fully support me, financially and other that deem necessary. Hopefully, after complete the assignment, I'll get Datukship...kuang kuang kuang!!!
What a stupid minister!!! Why our country is governed by stupid miniters???
Hi Datuk,
I thought U alredi Datuk? How about Tan Se...e
Idris has done a great job regardless what the Minister is implying. Ask the MAS staff who are now starting to believe that they (not the cronies) themselves can save the company. Their next task is to make the company great and keep those hidden hands away from the company's pockets.
Haiyaa abg iskandar, face the fact that everybody can do that turnaround provided that they been fully backed by govt financially and politically.
I give u one scenario, say u r in a lot of debt. U current salary cant help u to settle all ur bills.
Imagine suddenly Paklah comes to u then offer u a job which is double than what u r getting now. Not just that, he also offer u some loan with minimum interest rate.
Do u think u cant settle ur bad debt now?? U cant reschedule ur hutang?? Of course u can!!
This is what happening in MAS. The result is the airfare has been doubled and we the rakyat has to pay for the price!!!!
It is not really good business sense when one continues to cut costs and sell off assets of the company. When cost cutting is concerned, there is only so much you can cut; and there is only so much of assets you can disposed off. What we are interested to know is the sales turnover before and after Idris Jala took over. Has there been a multi fold increase?
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