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| Luck Changer Wanted |
Called it what you may.
Bad luck; bad fengshui, bad management, karma.
You asked for it, MAS! or whatever.
Losing two wide-bodied jets within 4 months is statistically improbable but it has happened.
What a crying shame.
After playing Russian roulette in the Ukraine, there is again rumour that another MAS flight traversed war-torn Syrian airspace.
Are we pressing our luck too far?
So what now is the strategy for MAS, in the midst of tragedy?
MAS apparently has only two ways to go.
The unpalatable one is to go under bankruptcy which will have a political backlash and unemployment to the loyal employees of MAS.
As for its senior executives and Board of Directors which should rightly be, they should resign en-bloc before they get the big boots!
The second way is easier on everyone. Khazanah should immediately mount a takeover by taking over the remaining 35% of the shares it does not own.
At today's price of RM 0.205 it amounts to somewhere close to RM 1 billion which is chicken feed for the sovereign fund.
By taking it off the listing on Bursar, it can then take time to privatised it and to do whatever corporate surgery that it wants.
The thing to do is to make sure only those who are meritorious get to helm MAS and to turn it around in double quick time.
