Not many people are aware of this.
After BNM lost up to RM30 billion in FOREX gambling in the early 1990s, BNM was asked to sell this stake to Tajuddin Ramli’s MHS for RM8 per share (when market price was RM3.50) to book immediate profits in 1993. (that is why Tajuddin keep saying he was asked to do national service then).
This was done to help cover up some of the secret massive losses from the FOREX gambling.
After MHS took over, MAS’ performance dropped and registered big losses until it needed to be bailed out and rescued by the govt numerous times.
By the end of his tenure, Madey had succeeded in destroying our Tin industry (also due to gambling), UMNO lama, the judiciary’s independence, Bank Bumiputra (which had to be taken over by Bank of Commerce) while wreaking havoc on MAS and BNM.
He also privatized 5 different transportation projects to 5 different parties with 5 different systems that are not integrated – 4 of which was required to be bailed out by govt while the remaining one has to be continuously subisidised for 30 years by Malaysia Airports using the airport tax – whether the passenger uses the ERL or not.
He also privatized Indah Water to Vincent Tan and then had to get govt to bail-out too.
He also created Proton, which needed to be bailed out by Petronas and then later on by govt directly recently.
What an incredible track-record.
But never mind, he used Petronas money to pay Ananda, the Argentineans, the Japanese, the Koreans and the Indonesians to build KLCC – the pride of Malaysia.
Sekarang, semua orang yang tanggungjawab di atas ada kat pembangkang – Madey, Anwar, Sanusi, Liong Sik, Daim, A Kadir, orang yang tak tahu Inggeris, Mat Tyson.
Semua dikutip pembangkang.
Sekarang yang perlu membaikikan pula ialah Najib, yang sering diserang oleh mereka yang sebenarnya bertanggungjawab kat atas.
Faced with a RM589 million suit by Danaharta, one-time corporate high-flyer Tan Sri Tajudin Ramli has counter sued for RM13.46 billion and also drops the following bombshell in court documents:
* He was directed by former prime minister Tun Dr Mahathir Mohamad and former finance minister Tun Daim Zainuddin to buy shares in MAS to help Bank Negara recover from foreign exchange losses in 1994