Friday 30 December 2022

Telekom Malaysia : Taken In

is the third top 30 hit from the debut album of Genesis guitarist Mike Rutherford's band, Mike & The Mechanics, with Paul Carrack on vocals.

Taken in, taken in againWrapped around the finger of some fair-weather friendCaught up in the promises, left out in the endNo pride, taken for a ride.

WE have been taken for a ride for sure on the Telekom Malaysia sob story that it sold the concession on Menara Telekom to Hydroshoppe Sdn Bhd. READ : TM: Exit from KL Tower concession is to focus on strengthening core business .

I am afraid that the TM's sob story is merely an after thought. TO cut a long story short, the person in charge of the Minister of Finance Inc at the point this deal was done , will be the best person, to provide some clarity on how on earth this deal was allowed to take place.

HEADS must roll, but barking at Telekom Malaysia will not solve anything.  The people,  that should do the talking and explaination part are the boys from Khazanah Nasional Bhd.

WHY is this so? Well because apart from being the dominant stake holder in TM, the state owned Khazanah Nasional is also the dominant stake holder in Axiata Bhd .

SO how come EDOCTO,. was by passed when Khazanah Nasional is the dominant stake holder in both TM and AXIATA? 

ONLY, Khazanah Nasional's shareholder, will be able to provide the anwser. Who controls Khazanah Nasional ? The Minister of Finance Inc . 

AS the name suggest, the Minister of Finance Inc is an entity under the Finance Minister. When Menara Telekom deal was done, the finance minister was TENGKU ZAFRUL.