Monday, September 1, 2014

MAS: Add Cash, Subtract Jobs

Losing money is what MAS is good at. In 1Q14, they posted a net loss of RM433 million ($140.08m) and in 2Q14, the net loss was RM307 million ($97.6m). The carrier will probably lose more than 1 billion ringgit in 2014 and continue to report losses through 2016, according to analyst estimates compiled by Bloomberg.

Loss-making national carrier Malaysia Airlines are bleeding so profusely that the government has decided to bail it out to the tune of RM6 billion – Prime Minister Najib Razak calls it an investment! – and in return, six thousand jobs (about 30 percent of the workforce) are to be sacrificed.

Why has it come to this? Malaysians know the answer and it is not just mismanagement!

Nicol David has won the Hong Kong Open since 2006 and in 2005, she claimed her first world title when the event was held in Hong Kong. File pic

National squash queen and world number one Nicol David extended her unbeaten run in the Hong Kong Open squash tournament when she defeated Egypt’s Nour El Tayeb in three games: 11-4, 12-10 and 11-8 – in the women's final on Sunday.

On Friday, the 31-year-old Penangite beat Hong Kong’s Joey Chan 11-8, 11-4, 11-3 in 27 minutes to seal a place in the semi-finals. And the following day, she needed only 26 minutes to speed past 21-year-old American Amanda Sobhy 11-8, 11-4, 11-2.

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