The super fool MAS CEO – Ahmad Jauhari – Part I


MAS stock falls 16%, analysts doubt financing capabilities

Presenna Nambiar
sunbiz@thesundaily.com

PETALING JAYA (Nov 29, 2012):

“We were taken by surprise on the rights issue proposal. It indicates that MAS may have issues securing financing to meet the group’s huge near-term capital requirement amounting to RM9 billion,” Alliance Research Sdn Bhd said in a report yesterday.

“We believe investors will be jittery of such a large cash call amid continued operating losses.
“While the cash call will help to address the short-term funding requirement and liquidity needs, it does little to address the losses at the operating level.”

Malaysia Airlines’ (MAS) stock fell more than 16% on news that it is yet again seeking capital injection from major shareholder, Khazanah Nasional Bhd and cancelling 90 sen of its par value.
The national airline, which was the most actively traded counter yesterday, saw more than RM560 million of its market capitalisation wiped out at the end of trading activities.

The stock closed 17 sen down at 84 sen, with some 77.2 million shares done.

MAS had on Tuesday announced plans to have a rights issue to raise up to RM3.1 billion for working capital (RM1.3 billion), capital expenditure (RM987 million) and repay borrowings (RM777 million).
It also plans to shave off its share premium account in a bid to cut its accumulated losses, buy back 10 Boeing 737-400s originally on lease for RM64 million to meet network requirements prior to the delivery of its new 737-800 fleet and to save on high maintenance costs it would need to incur to deliver the planes back to its lessor in mint condition.

Analysts are still cautious on the MAS turnaround story, despite it beating the consensus target on core losses, overshadowed by another rights issue and a reduction in par value of its shares from RM1 per share to 10 sen a share.

The airline registered a small operating profit of RM3.9 million on revenue of RM3.3 billion for the third quarter ended Sept 30 2012 due to lower jet fuel prices and fuel consumption as a result of a 7% year-on-year reduction in capacity available-seat-kilometre (ASK) and better utilisation of newer and more fuel-efficient aircraft.

“We were taken by surprise on the rights issue proposal. It indicates that MAS may have issues securing financing to meet the group’s huge near-term capital requirement amounting to RM9 billion,” Alliance Research Sdn Bhd said in a report yesterday.

“We believe investors will be jittery of such a large cash call amid continued operating losses.
“While the cash call will help to address the short-term funding requirement and liquidity needs, it does little to address the losses at the operating level.”

Alliance opined that based on the indicative issue price of 60 sen as disclosed in the company’s announcement, the proposed rights issue will be at a steep discount to current price, while the dilution is enormous given its expectation of a 3-for-2 rights issue in order to raise RM3.1 billion.
The cash call is the third by MAS since 2007.

MAS raised RM1.55 billion and RM2.67 billion from its rights issue in 2007 and 2009 respectively, to finance new aircraft and pare down debts.

HwangDBS Vickers Research Sdn Bhd said there is execution risk in MAS trying to turn around its business, and the aviation landscape in Malaysia will become more competitive with the emergence of Malindo Airways next year.

The research firm has trimmed its FY12 core net loss forecast to RM567 million from RM961 million previously, after raising MAS’ passenger load factor from 70% to 75%.

HwangDBS is expecting MAS to register stronger performance in the fourth quarter of 2012 due to the year-end holidays.

Kenanga Research said with the new fleet in operation, MAS will be able to make a meaningful turnaround.

The airline is to receive 12 new 737-800s and three new A330-300s in 2013. It has already added 14 737-800s, eight A330-300s and four A380s to its fleet since 2010.

Kenanga is raising its FY12 estimate higher by 30% from a RM764 million net loss and RM1.2 billion revenue previously, with a new RM482 million core net profit target for FY13 estimate, as it expects MAS to be able to recover its yield and get a higher load via the new fleet.

“In the near term, any positive share price movement is likely to be muted due to the negative sentiment on its proposed capital reduction and rights issue announcement,” it added.

Malaysiaairlinesfamilies say Ahmad Jauhari makes (wow….but only) RM4 million within the length of 15 months. (???) Could he be the super foolish Chief Executive Officer of the whole centennial in this aviation world? Perhaps, he is also the most intelligent CEO in the world who knows how to make RM4 million by selling aircrafts – B747.

We predict very soon he’s gonna urgently sell out MAE and MRO to Tony Fernandez’s and his gangster a.k.a. AirAsia Proxies for increasing MAS profits on paper for Q4 2012 where in reality it will contribute to MAS lost more profitable assets to AirAsia. This could forecast MAS will be losing more revenues in the coming future.

In such re-structuring Ahmad Jauhari’s way, MAS will transform into a company that generates smaller revenue as compared to previous annual revenue of RM13-14 billions. And AirAsia will become the larger revenue generator. So MAS and AirAsia will switch the size of their revenues via Ahmad Jauhari.

Time for MAS workers to call upon Ahmad Jauhari to step down before any further damages are done ANY FURTHER since your MASEU is toothless and has lost its balls rolling time. We’re told the union election was already over but the elected union leaders are now keeping mum over this THE TALK OF THE TOWN. Bucking up or Shitting out or SHIPPING OUT??? Yee hah…time to whacking MAS Unions! The workers’ future are in your hands!!! If MAS Unions are toothless – the future of Malaysia Airlines will land into AirAsia’s proxies.

We have one intelligent question for Ahmad Jauhari (The faraway clueless CEO)

How are you gonna make profits for Malaysia Airlines after selling out all of MAS assets such as MAE and MRO to AirAsia’s hidden proxies?

Do you have an ounce of brain? We do not believe you’re no brainer.

Everybody already in the know that you do work secretly for Tony Fernandez if that is what you’re still thinking like an ostrich hiding your face in the pit thinking no one can find out about this then you’re really a no brainer indeed.

We very well believe you are the proxies for AirAsia. Once you’re outta of Malaysia Airlines; we won’t be surprised Tony Fernandez will relocate you to Indonesia or maybe Japan to screw ANA for Tony Fernandez.

Truly the game is over for the clueless Ahmad Jauhari. You are the talk of the town nowadays suspiciously collaborating with Tony Fernandez to gain control of MAS assets for AirAsia to improve its group earning after the fall-out of MAS & AirAsia Share Swap Tragedy.

Leave or be sacked or else; be charged for criminality act sabotaging Malaysia Airlines if you continue playing solitaire.

Whilst we’re fighting against these thugs from destroying Malaysia Airlines; we do have those “authority” ordered by Ahmad Jauhari to initiate a hacking system taking over our site – “malaysiaairlinesfamilies” as expected; we’re full of determination inflicting his conditionally collaboration with Tony Fernandez.

In an unlikely event of such HIJACKING did take place in which if we did post lies and our opposition in favor of Tony Fernandez and Ahmad Jauhari to the public; we appeal to our loyal readers to continuously supporting us in the name of Save Our Souls by helping us spreading the truth widely to the world.

Stay tuned with us in malaysiaairlinesfamilies for we’ll be posting more on AirAsia’s scam soon for opening the eyes of the travelers. Any bloggers are free and welcome to re-publish our articles from malaysiaairlinesfamilies.

5 thoughts on “The super fool MAS CEO – Ahmad Jauhari – Part I

  1. The stock price has to fall to allow for cheaper valuation. MAS is now cheaper in a takeover. Since this is a renounceable rights issue the current shareholders can choose not to exercise their rights and sell this to a 3rd party.

  2. that hang Tuah Jauhi sure has a weird business skill by making 4 mil profit disposing assets soon enough Mas will be known as Tembaga devalued in terms of brand image and credit viability. Maybe il seek Ahmad Jauhis business advice as to how to be the ne est tom yam millionaire

  3. I’m so content to read this. This could be the style of manual that demands to become supplied instead of the random misinformation that is at the other blogs. Appreciate your sharing this greatest doc.

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