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DRB-Hicom dan Tabung Haji untuk Air Asia.
By Thomas Soon
21/3/2001 6:59 pm Wed
[DRB-Hicom memang sudah tenat. Dulu ia cukup aktif membolot
projek sehingga ramai usahawan lain terpinggir. Pengusaha bas mini
adalah alah satu darinya. Bayangkan lorong khas sudah lama diminta
oleh pengusaha bas mini tetapi dipersetankan sahaja, tetapi bila
intrakota tiba, semuanya bisa diatur. Sekarang tambang bas ini sudah
naik tetapi disembunyikan dengan menggunakan sistem zon.
Itu baru kenderaan darat. Kenderaan udara pun lebih kurang juga. Air-Asia
kerugian sejak ditubuhkan pada 1996 lagi! Ia mendapat kontrek membawa
jemaah haji tapi tak untung-untung juga. Yang menariknya ia mendapat
kontrek ini pada tahun 1996 juga...... Inilah tembelangnya.
Sila juga membaca komen menarik khususnya oleh jtham di pangkal
rencana ini. Kemudian fikirkan berapa bijikah kapalterbang syarikat
Air-Asia ini ada sehingga Tabung Haji mengikat diri kepadanya....
By Thomas Soon
DRB-Hicom Bhd is believed to be actively seeking a buyer for
its 85 per cent stake in the second national air carrier Air
Asia Sdn Bhd, which has been losing money since it began
operations about five years ago.
Among those whom DRB-Hicom had held preliminary talks with
are Lembaga Tabung Haji, the country's pilgrimage fund for
Muslims. Tabung Haji's current funds and assets amount to
more than RM8 billion.
Sources said Tabung Haji could bring in potential partners
for capital injection into Air Asia to expand its fleet of
'It is a case of DRB-Hicom's willingness to let go of its
stake for a good price, while many other parties are also
interested in acquiring an airline business,' said one
It is learnt that DRB-Hicom had also approached other
potential buyers, including the Sarawak Economic Development
Corporation, Angsana Vacation Sdn Bhd, and Lufthansa Air,
through a local company.
'Tabung Haji is very keen to have a stake in Air Asia,' a
source tells theedgedaily.com . Tabung Haji has been using
Air Asia's carriers to bring pilgrims on the Haj and Umrah
trips for the past five years. This year alone, Air Asia will
be arranging 96 return flights for Mecca pilgrims.
When contacted, company spokesman said any suggestion of
talks between DRB-Hicom and the various parties were 'purely
speculative' in nature. 'However, we are not averse to any
proposals,' he said.
Air Asia has a five-year renewable lease from a US-based
company for two Boeing 737-300 aircraft, for which DRB-Hicom
acts as guarantor. It is learnt that Air Asia is paying about
US$300,000 (RM1.14 million) per month for the lease of each
Sources said previous talks with a few parties for the
disposal of the stake had failed because the lessor had
rejected the transfer of the guarantee to the potential new
owners, who did not meet its risk test.
An analyst said 'it might do DRB-Hicom good' if it can
offload the airline business, which does not fit well into
the rest of their businesses. 'DRB-Hicom's direction is into
automotive and property (and services),' he said.
He added that it was not viable for Air Asia to operate on
the strength of two leased aircraft and that it would need to
expand its fleet size. The analyst said the authorities
should allow Air Asia to take over some of Malaysian
Airlines' domestic routes, particularly between West and East
Until the economic crisis, the Kuala Lumpur-based Air Asia
operated scheduled international flights to destinations that
included two Taiwanese cities and Jakarta. Now, it makes
scheduled domestic flights to Kota Kinabalu, Labuan, Kuching
and Langkawi and chartered flights.
For the last two years, DRB-Hicom has been on the lookout for
a taker of a substantial portion of its stake. Mofaz Air
holds the remaining 15 per cent equity interest. The carrier
has been losing money since it started operations in 1996.
Comments To This Article:
Not Tabung Haji Also!!! (rmbart, 20/03/2001)
Malaysia is such a small country and yet we have more than 1 airlines.
If the load, lease and fuel factors are the main cause for the losses,
whoever takes over will not be able to make profit. We should take the
brave face of closing down one of the airlines or merge it with MAS at
Another rubbish deal... (jtham, 20/03/2001)
DRB-Hicom has been transforming itself from a patriotic company
during Tan Sri Yahya's time to a more sober corporate animal in recent
times. Suddenly, it seems DRB will be focusing on regaining its profit
foothold by offloading its non-performing assets. And guess who in
the market will buy those lousy assests from DRB ?From its stake in
Proton to Puspakom, Intrakota and now AirAsia, everything that were
previously proud national projects but had failed miserably are now
being hawked to the usual cash rich quasi government funds. Selling
an underperforming asset to a synergistic party may be a logical thing
to do to revive the assets. But I don't see what benefit it is to sell
those assets to a fund, especially a public fund which offers no
operational or management expertise, neither does it offer any
synergies for future growth. And these are precisely the deals we are
witnessing in the market, Proton to Petronas, MAS to Khazanah, Star
& Putra to Khazanah, TimeDotCom to KWAP, Khazanah & EPF,
Puspakom/Intrakota to government......etc.
And it is so damm blatant that in good times, all good opportunities
are privatised to individual well connected businessman depriving
those opportunities from the public funds. But in bad times, all failed
projects are nationalised at the expense of the tax payers. If such poor
corporate governance are to continue, bid farewell to the stock
Another Bailout ! (TanSri, 19/03/2001)
Go ahead Tabung Haji, bail out DRB-Hicom. I just love Malaysia
corporate scene with a touch of politics. Everything is so predictable.