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 As a result, the legal suits and all counter-claims in the legal suits against MAS will be withdrawn."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.