Crisis in the Ukraine

texx1 said:

It's been three weeks since the incident. Blackboxes have been recovered and investigators have found them to be intact and sound. Yet, there is still no release of cockpit audios or recorded audios between pilots and Ukrainian ATCs. There must have been something damning or embarrassing to involved parties in those tapes. I mean similar cockpit audios were released within days of MH370's disappearance early this year and Air Algérie Flight 5017 that crashed in Mali.

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KUALA LUMPUR, Aug 7 — A preliminary report on the “black boxes” from Flight MH17 that could reveal vital clues on how the plane crashed and killed 298 people may be ready by next week, said Transport Minister Datuk Seri Liow Tiong Lai today.

He also said investigations were still ongoing at the crash site of the Malaysia Airlines plane near Donetsk, Ukraine, where data and wreckage were being recovered.

“That information from the black box is very useful to us to determine the accident and how it happened” Liow told a joint press conference with Defence Minister Datuk Seri Hishammuddin Hussein here today.

Both Kiev and Moscow have denied responsibility for the downing of the passenger plane by what is believed to be a Russian-designed air defence missile over restive eastern Ukraine on July 17.

The plane’s black boxes may hold the clues on what type of missile had struck it down, the Wall Street Journal had recently quoted an aviation expert as saying.



Liow also said today that a preliminary investigation meeting headed by the Dutch and involving Malaysia’s Department of Civil Aviation (DCA) has been held.

When asked whether Malaysia would send its military personnel to the crash site to protect investigators amid the armed conflict in the eastern Ukraine area held by pro-Russia separatists, Hishammuddin said: “Not at the moment”.

The minister said the police were currently at the crash site, a decision that he said was made together with the Australian and Dutch authorities.

“If it becomes a military situation, the whole landscape will change, so let’s see how things develop from today onwards,” said the defence minister.

IN THE GALLERY


Datuk Liow Tiong Lai (centre) is seen at the memorial service held for those on board Flight MH17, at Kelana Jaya, on July 25, 2014. — Picture by Choo Choy May
Hishammuddin stressed that all the remains of the Malaysian victims still in Ukraine must be retrieved.

Liow said that Malaysia would hold an interfaith memorial for the plane crash victims once the bodies arrive.

“Joseph Kurup has engaged a multi-racial council,” he said, referring to the minister in the Prime Minister’s Department in charge of unity.

The remains of the plane crash victims are still being identified in the Netherlands.

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solarz said:

Assuming that the facts outlined in the report are verifiable, we now have a very strong chain of evidence pointing toward a false flag operation by the Kiev regime:

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Published: Friday August 8, 2014 MYT 11:07:00 AM
Updated: Friday August 8, 2014 MYT 4:24:50 PM
Khazanah seeks to de-list MAS

by joseph chin

KUALA LUMPUR: Malaysia Airlines' (MAS) largest shareholder, Khazanah Nasional Bhd plans to de-list the ailing national carrier under its restructuring plan which will see it paying out a total of RM1.38bil.

It said on Friday it had submitted a request to MAS to undertake a selective capital reduction and repayment exercise (SCR) of 27 sen a share under the restructuring exercise, which would take six to 12 months to complete.

Khazanah owns 11.59 billion shares of MAS or 69.3%. Under the exercise, this would entail it forking out RM1.38bil to buy the remaining 5.118 billion shares, which it does not own.

"The proposal will enable minority ordinary shareholders of MAS to receive a capital repayment amount of 27 sen per ordinary share. This represents a 12.5% premium to closing price on Aug 7 2014 and a 29.2% premium to the three-month volume weighted average market price (VWAMP)," Khazanah said.

"Upon successful completion of the proposed SCR, Khazanah will become the sole ordinary shareholder of MAS, which would lead to a de-listing of MAS," said the government investment fund.

However, some quarters said while MAS was biting the bullet in the restructuring exercise, an analyst described it as a "moral hazard" based on the poor financial performance of the airlines.

Another analyst said minority shareholders should accept the 27 sen offer.

Meanwhile, MAS said it had received notice of Khazanah's intentions to take full ownership and de-list the airlines.

"Our board of directors will be deliberating this proposal and an official response from the company will be issued later. During this period, our business operations remains unchanged," it said.

In its first quarter ended March 31, 2014, MAS had posted net losses of RM443.39mil compared with RM278.83mil a year ago. Its revenue was marginally higher at RM3.6bil compared with the RM3.537bil a year ago.

Its net asset per share was 21 sen compared with 24 sen a year ago.

Trading in Malaysia Airlines (MAS) was suspended from 9am to 5pm on Friday.

Khazanah's deslisting plan under the restructuring exercise plan comes after one of the loss-making carrier's aircraft, MH370, disappeared on March 8. On July 17, MH17 was shot down over Ukraine.

A total of 537 people have lost their lives in the two tragedies.

Below is the statement issued by Khazanah Nasional:

We are pleased to announce that Khazanah Nasional Berhad (Khazanah) has today submitted a formal request to the Board of Directors of Malaysian Airline System Berhad (MAS) to undertake a selective capital reduction and repayment exercise ("Proposed SCR") of MAS' ordinary shares.

The proposal will enable minority ordinary shareholders of MAS to receive a capital repayment amount of RM0.27 per ordinary share. This represents a 12.5% premium to closing price on 7 August 2014 and a 29.2% premium to the 3-month volume weighted average market price ("VWAMP").

Upon successful completion of the Proposed SCR, Khazanah will become the sole ordinary shareholder of MAS, which would lead to a de-listing of MAS.

In June 2014, Khazanah had announced that it was in the midst of undertaking a comprehensive review of MAS, in consultation with the Special Shareholder, the Minister of Finance Incorporated.

Khazanah further clarified that subject to the necessary approvals from the relevant authorities, it would announce the proposed restructuring scheme within a period of 6 to 12 months.

We reiterate that the proposed restructuring will critically require all parties to work closely together to undertake what will be a complete overhaul of the national carrier on all relevant aspects of, inter alia, the airline's operations, business model, finances, human capital and regulatory environment. Nothing less will be required in order to revive our national airline to be profitable as a commercial entity and to serve its function as a critical national development entity.

In this regard, today's proposal for de-listing represents the first stage of the restructuring scheme. Further, Khazanah is in the final stages of completing the overall restructuring proposal, and upon due process and approvals from the relevant authorities, regulators and the Special Shareholder, the Minister of Finance Incorporated, we envisage that additional detailed plans will be announced by the end of this month.

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Dannhill said:

This is very shocking that UN allowed the crash investigation to be halted because US and allies refused to pass a resolution calling all involved parties to observe tge truce. US demanded the resolution name the separatists as responsible party, leaving out Kiev.

As a result investigators have left the site pending the situation is resolved. And that would only come after Kiev took full control of the 3 areas where there are debris.

This is very sad state of affairs. Nothing can be further done unless Russia and the separatists are hung as guilty without the need for further investigation.

West blocks Moscow’s UN plea to reinstate ceasefire at MH17 crash site

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delft said:

To the contrary this is an important data point. The US wants to prevent an investigation of the responsibility of the crash. This can only mean that they know that Kiev is guilty.

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