MAS’ out-of-court settlement with Tajudin Ramli (updated)

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Malaysia Airlines System Bhd’s announcements of its out-of-court settlement with former MAS chairman on all the outstanding lawsuits are sketchy.

A GLC, Prokas Bhd, had earlier reportedly won a RM589m suit against Tajudin and the case was supposed to be heard in the Court of Appeal. Prokas is a private limited company owned by the Finance Ministry. It was set up to manage the residual assets of the Danaharta group of companies.

But then an out-of-court settlement was reached. And it then transpired that all others GLC suits involving Tajudin would be similarly settled.

Not much background information provided in the MAS announcements to Bursa about the settlement. For instance, why is MAS buying large tracts of land in Langkawi?

MAS may not have lost, but we are none the wiser about the claims and counter-claims and how they arose in the first place – e.g. what this whole business of ‘national service’ was all about, the political-business context and the key figures involved. If the cases had been heard in court, the claims could have been tested and much could have been revealed.

The public has a right to know how MAS was managed as the firm is owned by the Finance Ministry (on behalf of the public). But now a veil has been drawn and we will never know what really transpired.

MATERIAL LITIGATION Malaysian Airline System Berhad & its subsidiaries (“MAS”) refers to the appeals arising from legal suits involving MAS and Tan Sri Dato’ Tajudin Ramli (“TSDTR”)
MALAYSIAN AIRLINE SYSTEM BERHAD
25/06/2012 05:43:24 PM

Type Announcement
Subject MATERIAL LITIGATION
Description Malaysian Airline System Berhad & its subsidiaries (“MAS”) refers to the appeals arising from legal suits involving MAS and Tan Sri Dato’ Tajudin Ramli (“TSDTR”)

Further to our announcement made on 22 June 2012, we append hereunder the salient terms of the settlement:-

a) the parties in KLHC Suit No: S3-22-634-2006 will complete the Sale and Purchase Agreement dated 16 June 1997 (“SPA”) in which MAS purchased certain lands in Langkawi. MAS had sought to enforce the SPA by way of specific performance. This will result in the remaining land purchased (a 21 acre portion of the land held under HS(D) 623, Mukim Ayer Hangat, Daerah Langkawi) to be effectively transferred to MAS upon payment of the agreed balance purchase price of RM4,001,622.50 that is still outstanding under the SPA;

b) all Counter-claims in KLHC Suit No: S3-22-634-2006, KLHC Civil Suit No: S7-22-487-2006 and SAHC Civil Suit No: MT3-22-365-2006 are to be withdrawn against MAS and parties related; and

c) MAS and parties related will withdraw its claims in the above legal suits.

There is no adverse financial or operational impact on MAS arising from the settlement. MAS will not be incurring any financial or operational loss.

This announcement is dated 25 June 2012

The earlier announcement:

MATERIAL LITIGATION Malaysian Airline System Berhad & its subsidiaries (“MAS”) refers to the appeals arising from legal suits involving MAS and Tan Sri Dato’ Tajudin Ramli (“TSDTR”)
MALAYSIAN AIRLINE SYSTEM BERHAD
22/06/2012 05:16:55 PM

Type Announcement
Subject MATERIAL LITIGATION
Description Malaysian Airline System Berhad & its subsidiaries (“MAS”) refers to the appeals arising from legal suits involving MAS and Tan Sri Dato’ Tajudin Ramli (“TSDTR”)

We refer to our previous announcement made on 16 February 2012 in relation to the legal suits involving MAS and Tan Sri Dato’ Tajudin Ramli (TSDTR).

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.

This announcement is dated 22 June 2012.

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顿狼

Mirzan Pengarah San Miguel Corp

Duit arak beli Esso?

najib manaukau

It is so obvious that Penang food is much tastier and as a consequent there are Penang food fair held in Singapore regularly and Penang food restaurants set up everywhere. I might add that all these are well patronized but unfortunately one such restaurant went bust when it was trying to fool their patrons with a chief from China cooking the Penang food in Geylang.

rilakkuma

Uncle Anil
This is off topic but you can create a new topic for fervent discussion.
tunglang’s nightmare comes early as Spore street food now ranks higher than “ori-maestro” Penang !

Could it be the food drain south bound create this perceived “reality” ?

Or could it be modern world ranking also based on ambience, hygience besides just the taste factor ?

http://thestar.com.my/news/story.asp?file=/2012/7/23/nation/11711542&sec=nation

In a posting dated July 21 on VirtualTourist.com, the write-up with a Los Angeles dateline titled “Travel Picks: Top 10 cities for street food”, Penang emerged third behind Bangkok and Singapore.

tan tanjong bungah

Hi rilakkuma,

Personally, I prefer Pg food to Sg food. Maybe, people would accuse me of being biased as I am a Penangite, but nonetheless, I feel Penang food is much much tastier than Singapore food. Don’t worry about being ranked behind Bangkok and Singapore!

Anil is right that Penang authorities could ensure better hygiene in its food outlets. Everything in Singapore is about cleanliness and hygiene with proper enforcement and practice, which is a good culture to develop amongst its people.

passion1

Will Chua Tee Yong please do investigation, and give some highlights.
Thanks.

moo_t

Yawn…nothing new in Bolehland(TM). Anyone with a stuffy nose also can smell Ma–ha—the-rea–son from it.

tan tanjong bungah

Hi everyone, This MAS-Tajudin Ramli saga is just one of many cases of protecting the crony to protect their politician … and masterminds!! There is no end to continuously draining dry the coffers of the country and at the same time intentionally letting loans of cronies be, without any fiduciary duty by the UMNO-led govt to give even a semblance of attempts to collect back the debts from their cronies and crony companies!! The most recent case of debts conveniently being left as debts, to turn it eventually into merely bad debts, being the Talam (now Trinity) issue in Selangor.… Read more »

ketuanan lanun

Does anyone remember the “national service” that MISC was force to provide to the tune of around RM 800 billion to rescue a very big man’s son? Someone claimed recently that MISC is now almost back to normal, but I wonder how much the country lost in total in this single case of plunder.

MMC

truly 1Malaysia-UMNO cronies will be saved. The rest can have a free ride on MAS.

顿狼

Is it true that Petron (owned by a/l Apanama) has got the contract to supply fuel to MAS planes?

najib manaukau

What does an about to die choke do ? Kicking and trying to show it is still fighting fit just the way MAS is now doing, they are trying very hard to fill a boeing 737 and struggling to half fill a boeing 747. Yet to show they are above the water mark they are now adding the biggest planes in the world into their fleet just like other airlines are doing. Or is it one way to carry themselves into bankruptcy ? For once to save the jobs of hundred of thousands of their employees go round the world… Read more »

Andrew I

Off topic: Came across this in the Star.

http://thestar.com.my/news/story.asp?file=/2012/7/21/nation/20120721185728&sec=nation

What a joke. Intolerance.The difference is nothing gets published about LGE unless it’s a criticism or it has been distorted or it is out of context.

How come we don’t get to read criticisms about the MCA in the Star? And he’s worried about the intelligence and knowledge of reporters.

awal

The Bolehland MasterMind is Daim (George Soros of Msia) ain’t Apanama dictating the economy & stock market from abroad.

don’t believe read this :
http://hornbillunleashed.wordpress.com/2012/07/22/32156/