Friday, 22 June 2012

MAS, where is the transparency?

MAS made an announcement regarding the suit with former executive chairman Tan Sri Dato' Tajudin Ramli (TSDTR). This is an imporant suit, and it has been dragging on for a long time (TSDTR was attached to MAS until 2001, 11 years ago). The content of the announcement:

"We wish to announce that MAS and TSDTR have reached an agreement to settle the legal suits concerned on terms. As a result, the legal suits and all counter-claims in the legal suits against MAS will be withdrawn."

Is that all the information the shareholders of MAS receive? Where is the transparency in this?

According to this article:

"(Tajudin) has agreed to surrender valuable land in Langkawi where the Four Seasons Hotel stands,” a court source told The Malaysian Insider on condition of anonymity.

But if that is true, why is it not revealed in the announcement to Bursa Malaysia?

From a corporate governance point of view, this looks not good.

1 comment:

  1. A kid asked his dad about future career:
    Kid : Dad, when I grow up. I want to be in organized crime.
    Dad : Are you going to be in private or government sector ?
    Kid : Err... dunno.
    Dad : Choose government sector, at least you won't go to jail.