Ex-MAS shareholder faces charges<\/p>\n
Associated Press, Kuala Lumpur<\/p>\n
Malaysia's debt-ridden national airline has confirmed lodging
\na police report against former top officials over alleged
\nmanagement irregularities.<\/p>\n
The report amounts to the first step in a legal process
\nleading to investigation by police and is the latest in a series
\nof controversies bedeviling Malaysia Airline System, or MAS.<\/p>\n
Airline officials issued a statement late Monday confirming a
\nstory in the Asian Wall Street Journal newspaper that a report
\nhad been filed, but said details would not be disclosed because
\nit was "a police matter."<\/p>\n
The newspaper cited MAS Chairman Azizan Zainal Abidin as
\nsaying that the report accused Tajudin Ramli, the former
\ncontrolling shareholder, and three other officials of management
\nirregularities.<\/p>\n
The complaint focused in particular on several transactions
\ninvolving the airline's cargo division, Azizan was cited a
\nsaying.<\/p>\n
Maizan Shaari, director of the Federal Police Commercial
\nCrimes Division, was cited by the New Straits Times newspaper as
\nsaying that a dozen people had been questioned, including senior
\nofficials.<\/p>\n
"We have not questioned Tajudin, but we will eventually call
\nhim for an interview to help our investigation," Maizan was
\nquoted as saying.<\/p>\n
The investigation is another blow to Tajudin, a tycoon who was
\nthe airline's chairman from 1994 until early 2001, when he sold
\nhis 29 percent stake in the airline back to the government.<\/p>\n
The 1.79 billion ringgit (US$471 million) Tajudin received was
\nbased on the same share price he had originally paid, but was
\nmore than double the market value of the shares at the time he
\nsold.<\/p>\n
The sale triggered accusations that the government was bailing
\nout a well-connected businessman and damaged Malaysia's image
\nwith investors.<\/p>\n
Prime Minister Mahathir Mohamad has tried to restore
\nMalaysia's credibility, shaking up some heavily indebted
\ncompanies after taking up the finance portfolio last June
\nfollowing the resignation of Daim Zainuddin as finance minister.<\/p>",
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