Ganesh Sahathevan

It has been widely reported that AirAsia achieved an after tax profit of RM 9.4 million in the quarter ended 30 June 2008 (See for example http://business.smh.com.au/business/budget-carrier-spreads-wings-in-turbulent-skies-20080907-4biz.html). This figure does not however include losses suffered by AirAsia's associated companies in Thailand and Indonesia. Once these losses,(which are disclosed in AirAsia's recent announcement to the Bursamalaysia as "unrecognised losses") are taken into account ,Loss before tax to rises from RM 46.901 million to RM 80.80100, and Loss after tax from a PROFIT of RM 9.417 million to a loss RM 24.483 million. In the quater ended 30 June 2008, the two associates, Thai AirAsia and Indonesia AirAsia suffered losses of RM 21.7 and Rm 12.2 million respectively. Losses for the period to date, which coincides with the end of AirAsia's financial year, were RM 63.5 and RM 87.4 million respectively. Consequently profit before tax for the 20...

Readers will see from the articles below that Ahmad Ismail appears to be both an Anwar and Badawi loyalist. Might be stirring tensions in Penang so as to bring to a conclusion a shared, or common agenda? As reported in The Edge Financial Daily , 10 September 2008: Wanita Gerakan has urged Prime Minister Datuk Seri Abdullah Ahmad Badawi to sack Bukit Bendera Umno division chief Datuk Ahmad Ismail and detain him under the Internal Security Act (ISA). The result of non-action by the prime minister could lead to Wanita Gerakan urging the party’s leadership to leave the ruling Barisan Nasional (BN) coalition, Wanita Gerakan chief Datuk Tan Lian Hoe told reporters at Gerakan’s headquarters in Cheras here yesterday. “We are very angry at the irresponsible act of Datuk Ahmad Ismail, who tore the portrait of Gerakan acting president Tan Sri Dr Koh Tsu Koon in front of the media yesterday afternoon in Penang,” she said. Showing a portrait of Abdullah, Tan questioned: “How would Umno members fee...