Tuesday, May 23, 2006

Lawsuits here and there..

First, Tan Sri Tajuddin Ramli was issued a summons for the recovery of RM500 million plus from a total of RM1 billion plus, being the amount loaned to him for the purchase of MAS. Then, Datuk Johari Abdul Ghani was being sued by KFC Holdings (M) Bhd for, among others, a 50% price increase in syrup cost from Permanis Sdn Bhd, which was claimed to be a breach of fiduciary duty as a director.

I can't even get a loan for RM100,000 without the bank as me to secure it with everything i own and here is someone who can get a RM1 billion loan.

50% increase in syrup cost and legal recourse ? Hmmm...

Mutual Seperation Scheme at MAS

The last time I did a Voluntary Seperation Scheme at my company, it cost me RM50,000 in total. It was done in two round, with the first costing me RM20,000.00 and the second one another RM30,000.00

When Malaysia Airlines announced their Mutual Seperation Scheme, it will cost them approximately RM800 million plus, with an estimated 3,000 to 5,000 staff involved. With between one to three months pay for each year of service, one off medical benefit payment, annual leave buy back, 12 month hospitalization benefit and complimentary ticket, it certainly was very much more attractive than what I offered.

The union leader was quoted on TV to be not very pleased with the offer, saying that they were requesting for total compensation of RM1.2 billion. However, he was quick to add that ".. ini sahaja yang syarikat mampu..."

Monday, May 22, 2006

Mergers and Acquisition...

Two Mega deal in a space of a few days..

Corporate Malaysia really rocks!

First was the MMC-Malakoff Rm9.3 billion deal that will see MMC acquiring all of Malakoff. Then you have Daikin's GO for OYL Industries, which resulted in Hong Leong pocketing a cool RM3.4 billion.

Bring it on!