Syed Mokhtar’s Debts Raising Fear of Future Bailout, Says Tony Pua

KUALA LUMPUR, Sept 27 — The combined debt of RM34.3 billion accrued by companies owned by Tan Sri Syed Mokhtar Al-Bukhary is causing genuine fears of a bailout using taxpayers’ money, the DAP’s Tony Pua said today.

The Petaling Jaya Utara MP told reporters that his attempt to raise the issue in Parliament was thwarted when the Speaker rejected his question to the Finance Ministry on the basis that his query was based on assumptions.

National Car Proton’s Never Ending Problems

 

Koon Yew Yin

The founding of Proton National Bhd. in 1983 was a big expensive mistake to begin with. Billions of Ringgit from tax payers have been lost in the process.

The haemorrhage seems to have continued forever until Khazanah’s recent sale of its 43 per cent stake in Proton to DRB-Hicom a few months ago. Malaysians have been wondering - is this the end to this unhappy saga of the government’s foray into the production of a so-called ‘national car’ or will the burden on tax payers and car owners be continued in other new ways?

A revisit of this white elephant project could generate a larger public discourse especially amongst tax payers who should be more concerned as to where all the tax money they are paying have gone to.

One simplistic assumption which appears to have been made by Dr. Mahathir, the initiator of the national car project, is that an industry that is growing yearly should be profitable. It is not. In fact, industry data shows that the total profits of all the car companies over the last few decades amount to only a modest return, and that only for the fittest in the industry.

MAS in Danger of Losing 5-star Status from Skytrax

(Business Times) - Skytrax’s website shows that Malaysia Airlines’ ranking is 'under review', which industry observers believe that this could point to a possible downgrade. 

Kuala Lumpur: Malaysia Airlines (MAS) could be in danger of losing its 5-Star Airline status from Skytrax, the world’s largest airline review site. Skytrax’s website shows that MAS’ ranking is “under review”.

Checks show that its status has been “under review” since October last year,dismissing doubts that it could be a periodical review.

Industry observers believe that this could point to a possible downgrade of its ranking. Skytrax’ 5-Star Airline ranking is the ultimate sign of quality approval and is awarded to airlines achieving the highest overall quality performance.

Save Malaysian Airline System Berhad (MAS)

1. Malaysian Airline System Berhad, or widely known as Malaysia Airlines (MAS) is our first flag carrier. Operating flights in all continents, it is also listed as one of the seven airlines to be ranked as a 5-star airline by Skytrax. Apart from this, it has won awards for its service and safety by many international bodies.

2. MAS has forged many agreement with several regional and international airlines to provide various services. Malaysia Airlines showed its commitment as both a carrier as well as a responsible corporate citizen in the global community.

Proton's Bright Future

1. Our nation's pride, Proton won the Best Range Extender EV award for Proton Exora Hybrid at the Royal Automobile Club (RAC) Future Car Challenge event held in London this week, beating rivals such as the Chevrolet Volt.

"I believe they have worked very hard for this victory and they truly deserve it. They have made us, Proton and Malaysians, truly proud."

Datuk Seri Syed Zainal Abidin Syed Mohamed Tahir
Proton Group Managing Director