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MOF dan Khazanah perlu teliti YB Tan Sri Nor Yakob and Md Nor: How much did MAS sell the 70% of MAS Catering?

By Yang Berhormat Wee Chee Keong, Ahli Parlimen Bukit Bintang

Tan Sri Md Nor Md Yusof (the architect of WAU), YB Tan Sri Mohamad Nor Yacob (the then Minister of Finance II, who was in charged of Khazanah under Badawi’s administration), Tan Sri Azman Mokhtar and the whizz kid En Mohammed Rashdan Yusof, the then consultants from BinaFikir Sdn Bhd) must clarify what was the selling price of the 70% share of MAS Catering Sdn Bhd (MCSB) to Gubahan Saujana Sdn Bhd (GUBAHAN). The answer will clarify what your truly had posted earlier regarding the sale of MAS Catering Sdn Bhd.

GUBAHAN was incorporated on 18-06-2002. It is an investment holding company with no experience in airline catering services at the material time. GUBAHAN bought 70% of MCSB with a back to back exclusive agreement whereby MAS shall exclusively purchase all food supplies, beverages and all cabin related services for 25 years until 2028! This exclusive contract worth millions of Ringgit annually. We must bear in mind that MCSB is also providing similar services to 30 airlines in KLIA and Penang Airports. Therefore, it was not a surprise at all that GUBAHAN sold 49% of the 70% share in MCSB to LSG Asia GMBH, a company specialises in catering services for airlines which is related to LSG Skychef, a subsidiary of Lufthansa in Germany.
GUBAHAN being the 70% shareholders of MCSB is in full control of MCSB. Seven months later on 16-4-2004 the name of MCSB was changed to LSG Skychef – Brahim’s Sdn Bhd. Therefore, the sale of the said remaining 49% must have been sold to LSG ASIA GMBH during the period of 25-9-2003 – 16-4-2004.  You can easily see this name every where in KLIA and Penang Airports. MAS’s name was totally obliterated from a company it has set up in 1972. This was how various people under various projects have been helping and saving our national carrier, MAS. I don’t think that your truly have been wrong to say that “Stop Anaktirikan MAS – How about LSG Skychefs Rahim?” in one of my postings.
Now that we know that GUBAHAN sold the said 51% of its 70% share in MCSB for RM130 million to Tamadam Bonded Warehouse Bhd (TAMADAM) by way of issuance of new share. It will not be unreasonable for us to guess that the said 49% sold to LSG Aisa DMBH must be in the region of RM100 t0 RM120 million. Your truly hope that MAS sold the 70% of MCSB to GUBAHAN for at least RM200 million so as to make MAS “an aset light airline” – anything less than this amount will definitely make MAS to light and it may fly into the outer space!.
It must be noted that during the last few days after the exposure of the sale of 70% of MCSB to GUBAHAN, the TAMADAM’s website has been thoroughly revamped and one can no longer find the prominent name of Datuk Hj Ibrahim bin Hj Ahmad … (of course without the word “Badawi”). Your truly doesn’t understand why the sudden revamped.
The picture will be clearer when we get answers for the following questions:
1.  How much did MAS sell the 70% of its shares in MCSB?
2.  Who received the RM130 million worth of shares in Tamadam Bonded Warehouse Bhd?
3. How much did GUBAHAN sell the remaining 49% of the 70% of its share in MCSB to LSG ASIA GMBH, which is related to LSG Skychef?
3. What are the prices that MAS had to pay for all its supplies and services from LSG Skychefs-Brahim Sdn Bhd and the prices of the same supplies and services paid by other airlines in KLIA and Penang Airports?
4.  What are the terms and conditions in the contract between MAS and LSG Skychefs-Rahim Sdn Bhd and other airlines with LSG Skychefs – Brahim Sdn Bhd?
If the abovenamed four personalities chose not to be transparent then your truly will get the answers from the Minister of Finance through Parliament.  Your truly hopes that there are nothing to hide from all parties as they have been trying so hard to help and save MAS all these years. Now the same people are still trying with the famous secret share swap.
Posted by Phd in Economics at 11:59 AM Blog Pembangkang Semenanjung kot Muda Tengah Headline Animator Blog Berkualiti