Reveal MAS-Tajudin settlement, says Pakatan

Malaysia Airlines (MAS) should disclose its terms of settlement with its ex-chairman Tan Sri Tajudin Ramli, Pakatan Rakyat (PR) leaders have said, adding that the lack of transparency was unacceptable as millions of taxpayers’ money were at stake.

Last Friday, MAS settled out of court its three lawsuits against Tajudin (picture), a move the national carrier described as “considerably viable”.

“He (Tajudin) has agreed to surrender valuable land in Langkawi where the Four Seasons Hotel stands,” a court source told The Malaysian Insider on condition of anonymity.

“What exactly is the value of the land in Langkawi which is able to settle all outstanding disputes with MAS?” asked Tony Pua, the DAP’s national publicity secretary.

He said the settlement was “highly suspicious” and “MAS has no right to claim this being a private company settlement because it has been bailed out one too many times with taxpayers’ money.

Najib: MAS to replace planes to boost revenue

Malaysia Airlines (MAS) is focusing on replacing aircraft to boost revenue and reduce operational costs, said Prime Minister Datuk Seri Najib Razak.

To regain customer confidence, MAS will introduce long-haul services on the Airbus A380 as a new brand for the airline from July 1, he added.

Najib, who is also finance minister, said this in his written reply to a question from Hee Loy Sian (PKR-Petaling Jaya Selatan) on the improvement plan to ensure the firm's RM2.52 billion loss last year was not repeated.

KWAP assumption of MAS perp sparks concerns of high-risk bailout

Abdul Farid Alias, deputy president & head, global wholesale banking, Maybank; Ahmad Jauhari Yahya, MAS Group CEO; and Datuk Azian Mohd Noh, KWAP CEO, at the signing ceremony yesterday.

The RM1 billion ploughed into Malaysia Airlines’ (MAS) fund-raising efforts by the civil service retirement fund (KWAP) has raised alarm bells as the statutory fund is taking up high-risk perpetual sukuk from the national carrier that recently posted record losses.

Opposition lawmakers have been quick to signal their concern with Datuk Seri Anwar Ibrahim telling The Malaysian Insider it was “irresponsible” of the government to use “funds held in trust as a bailout fund for sick companies.”

“These are savings for their future,” the opposition leader said, referring to the 1.3 million-strong public sector.