MAS made RM132.71 million in first quarter of 2007

Congratulations to Idris Jala and his team for achieving what they were trusted to do with flying colours. But I have similar questions to ask MAS. Malaysians have the right to know the full facts and figures as suggested by “High-Flying Truth” . Others GLCs may also want to know and learn from Idris Jala and his team on how to turnaround an ailling GLC.

We just want to be sure, the good news is not a by-product of ‘creative  accounting’ but truely a good news.    

MAS profits: Full facts and figures please

High-Flying Truth
May 30, 07 2:19pm
I refer to the malaysiakini report RM132.71 million: MAS’ Q1 profit report on MAS’ turnaround plans and its encouraging profits. While congratulations are definitely in order for MAS MD Idris Jala and his men and women, I would still hold my final adulation until I am given all the facts first.For instance, how much of the increase in revenue and profit is still attributable to subsidies and reimbursements coming from parent company PMB ( Penerbanagan Malaysia Berhad)? Talking about PMB, what has happened to it? Is it still functioning or has it been moth-balled?I still want to know if interest and leasing costs are being subsidised by taxpayers via PMB as well how much of the domestic sector losses are being absorbed by PMB if any.

It has also been reported that the cost of the VSS (Voluntary Separation Scheme or whatever they call them) has been subsidised by government. How much has this has affected the bottom line of MAS for this year and for the years to come?

Its all right to have press conference and announce glowing numbers but public must also have all the relevant facts before we can decide whether the turnaround plan is working.

I am sure the new team has done well, better then the previous one but let’s have all the facts please. Now they want to go frolicking in the low cost airlines business. Just how much is this going to cost the taxpayer yet again?

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