Former Prime Minister Tun Dr. Mahathir Mohamad should not try to wriggle out of his responsibility to the nation to account for the Malaysian Airline System (MAS) scandal, reducing in less than a decade one of the continent’s top-fliers into the sick man of the airline industry.
Mahathir was too fast off-the-mark when he dismissed Datuk Zaid Ibrahim’s call that he “write a book” on why MAS was privatised to Tan Sri Tajudin Ramli in 1994, claiming that he was not in charge of the loss-making national carrier.
Mahathir is trying to re-write the history of his 22 years as Prime Minister to make Malaysians believe that he was a very “blur blur” Prime Minister who did not know what was going on in the various Ministries under him – not only disclaiming responsibility for the worst judicial crisis in the nation’s history with the sacking of the Lord President, Tun Salleh Abas and two Supreme Court judges, Tan Sri Sulaiman Pawanteh and Datuk George Seah; the darkest period of human rights violations with the Internal Security Act mass arrests under Operation Lalang but also the series of financial scandals under his watch including the MAS debacle.
Mahathir has proven during the Royal Commission of Inquiry into the Lingam Video Tape scandal that he is a master of selective memory, but this does not qualify him to rewrite the history of his 22 years as Prime Minister, particularly episodes causing far-reaching bane to the healthy political, economic and social development of the country.
What is Mahathir’s credibility when he can totally disclaim responsibility for the major scandals under his premiership, or is the MAS scandal, which has destroyed an internationally-acclaimed airline causing the country tens of billion of ringgit of losses, another “heinous crime without criminals” like Mahathir’s first financial scandal in 1983 – the RM2.5 billion Bumiputra Malaysia Finance (BMF) scandal?
It is in the public domain that one-time high-flying tycoon Tan Sri Tajudin Ramli had claimed that former premier Mahathir had made him buy MAS to help bail out Bank Negara after the central bank suffered massive foreign exchange losses due partly to speculation in foreign currency markets.
Tajudin purchased a controlling stake of 29 percent in Malaysia Airlines in 1994 from Bank Negara, paying eight ringgit per share when the market price was around half that.
The purchase was disguised as a commercial deal as “it was essential for the public and the international investment community to perceive the entire transaction as a normal commercial arms length deal (which clearly it was not)”.
Tajudin said he was reluctant to buy the under-performing MAS, but Mahathir had told him he was performing “national service”.
Tajudin took out a RM1.8 billion loan to buy the airline but he signed an “Overriding Agreement” in which he could eventually sell the carrier back to the government, which would indemnify him against any losses suffered.
Tajudin said he had been told to keep mum on the deal, and that he was not allowed to manage the airline according to normal commercial practices, but had to consult the government.
In 2000, the government bought back the loss-making airline in a mega bailout after Tajudin’s loans became non-performing and were taken over by then-national asset management agency Danaharta.
The government paid eight ringgit per share, more than twice its market value, in the purchase.
A bare denial by Mahathir about such a secret deal between him when he was Prime Minister and Tajudin on the MAS deal lacks credibility whatsoever and he should not try to wriggle out of his responsibility to the country to tell the whole truth and nothing but the truth about the sorry MAS scandal.
Is it because of this secret deal between Mahathir and Tajuddin in the nineties indemnifying the latter for any losses in the MAS deal that explains the lack of transparency in the recent settlement in court between Tajudin and government-linked corporations (GLCs), casting a dark shadow on the Najib’s premiership on accountability, good governance and integrity and sure to cause a further plunge in the country’s Transparency Interntional Corruption Perception Index next year?
Old fox often speak with forky tongue! He farts & f**k whenever he wishes…
Bolehland would be much better without this fox sucking around with his tail stuck into his mouth whenever he speaks…
When the fox vanishes from this world and with PR in power, I would say Bolehland will better place to live without smelling his old farts and seeing his old f**ks…
“….Is it because of this secret deal between Mahathir and Tajuddin in the nineties indemnifying the latter for any losses in the MAS deal that explains the lack of transparency in the recent settlement in court between Tajudin and government-linked corporations (GLCs),….”
Isn’t it obvious? The BN Govt rushed to settle out of court when Tajuddin went public to disclose “that former premier Mahathir had made him buy MAS to help bail out Bank Negara….” . His veiled threat was clear. Get me out of this mess or I will spill all the beans.
We have history repeating itself in the NFC scandal. When Sharizat declared in public that “all UMNO leaders has problems” the UMNO leadersship knew exactly what this threat meant. Touch her or her family and she will incriminate all the UMNO rats in the nest. That is why such a simple and straightforward investigation has yet to be completed by the police and MACC months after it surfaced. This case too will be covered up. It is a foregone conclusion.
Racist Mahathir has openly asked the cowgirl Sharizat to go away so she blows the cover of Tajuddin’s MAS, a tic for tac. The firework has just begun and lets see how Najib put off the fire with “you help me, I help you”.
It is a case of playing with national assets. Tajuddin only offered his name to be used to borrow money from the bank which is guaranteed by the government. The price of the share was only a figure used in the contract since after MAS had been given to Tajuddin to play around, the government had finally paid out the same sum which he received earlier from the bank. One wonders why the government had to go through the circuitous route of moving the money around. Was it possible that Tajuddin was the nominee to be made billionaire so that he could be the treasurer for UMNO during election? Was the tussle between Tajuddin and the government a case of friendly relationship turned sour? Or did Tajuddin join the wrong company after he was given MAS to play around?
MAS affairs only shows the powers-that-be considered national resources their own to do as they please. The laws are for them to rule, and they are above the law.
He may be trying to wiggle but he is doing is so badly it obviously so guilty..
Actually the comparison to NFC is very accurate.. If we are not letting Shahrizat and family off with NFC, why is Mahathir and Tajuddin being let off with MAS debacle?
It’s all in the family. Zaid Ibrahim speculated that Tajuddin will be “compensated” RM 6.9 billion by the government, and that Tajuddin will then channel the funds back to UMNO for the elections. Everyone can see through the modus operandi of these thieves.
How much is needed to ensure that Sabah remains a fixed deposit for BN, Ah Jib Kor ? Aren’t your boys scrambling now to make sure that there are enough funds to pay off the voters there ?
We must remember that a winnable candidate for UMNO is one who can get access to the slush funds. No money no talk.
Oh gosh! Now only I understand what was going on behind the MAS saga! Can’t imagine some people can be so crafty.
http://malaysiakini.com/letters/189932
On May 20, 2009, Shahari Sulaiman, then the managing director of MASKargo, on the instructions of MAS management, lodged a report with the MACC. He alleged that when Tajudin Ramli took over MAS in 1994, the national airline company had RM600 million cash in reserves but when he left, the company had accumulated losses to the tune of RM8 billion. Former prime minister Mahathir Mohamad quoted the losses at RM9.4 billion as at 2000.
Mahathief. Mahakotor. Mahajijik. Mahafitnah. MahaUlar. Mahapenipu.
Maha Lee What
Maha Sod Dom
Maha FIBOR
He was not in charge of MAS. The statement is true. He is making a statement that was true. You can not argue with him. Shahrizat also make a true statement when she say she was not a director/shareholder of NFC.
One is longest PM another is a cabinet minister plus closed relations with those executive directors of NFC.
That made the difference. They are not ordinary people per se.
That was the difference.
But you can’t do anything with this old man sometime he is still very sharp in his mind sometime he is totally lost as seem he has lost his memory.
///It is in the public domain that one-time high-flying tycoon Tan Sri Tajudin Ramli had claimed that former premier Mahathir had made him buy MAS to help bail out Bank Negara after the central bank suffered massive foreign exchange losses due partly to speculation in foreign currency markets./// Tajudin gave this in his affidavits to court, right? Submitting a false affidavit is a criminal offense and constitutes perjury, right? So wouldn’t one who submits an affidavit be more believable than the other whose best shot so far is a bare denial?
”It is in the public domain that one-time high-flying tycoon Tan Sri Tajuddin Ramli had claimed that former premier Mahathir had made him buy MAS to help bail out Bank Negara after the central bank suffered massive foreign exchange losses due partly to speculation in foreign currency markets.”
So TWO issues remain a mystery – this MAS mystery and secondly, the massive Bank Negara speculation losses (about RM 50 BILLION) that was never fully explained or the culprit(s) never brought to book. Both incidents occurred during the tenure of the Maha-forgetful fellow.
Today, the people involved in these two scandals are Tan Sris, one living comfortably in retirement and the other a Minister looking after economic projects, while the people suffers. What an irony. Where is justice?
“Huh? MAS? Tajuddin? Errr.. I cant remember. I cannot recall anything.”
End of story!
So you see ppl. Amnesia is not the same thing as “trying to wriggle out” of one’s responsibility.
//“Huh? MAS? Tajuddin? Errr.. I cant remember. I cannot recall anything.”//
Chua SL: “Huh? Angela Yumm? Batu Pahat Hotel? Errr.. I cant remember. I cannot recall anything.”
Jibby: “Huh? Al-Tantooyoh? Mongolian? Errr.. I cant remember. I cannot recall anything.”
Shahreezuk: “Huh? NFC? Lembu, Kondo? Errr.. I cant remember. I cannot recall anything.”
After PR has won the 13GE, this is what a certain Bukhari will say—–
Saifool: “Huh? Anwar? DNA in my a-hole? Errr.. I cant remember. I cannot recall anything.”