Coffee Chat - Airasia, PMBTEch, Sumatec, PDZ

Airasia: Its CEO expects the airline’s earnings to pick up in the second half of 2014 on lower fuel prices and strong bookings as it rolls out new ancillary products.

 

Its passenger load factors (number of seats filled) remain strong, Philippines and Indonesia is going to be profitable in the 4QFY2014. Its Indonesia had swung into a net loss of rm102.35 million for the financial year ended Dec 31 2013 compared to a net profit of rm52.5 million in the previous year, despite higher revenue.

Its fourth quarter looks very strong.

It is due to announce its financial results for the second quarter ended June 30 (2QFY2014) on Aug 20 2014.

Fernandes rubbished rumors that Airasia has plans to acquire MAHB’s assets and MAS.

PMBTECH: Its share price has been climbing steadily from rm0.70 in Jan 2014 due to the rise in aluminium prices.

Aluminium prices have risen 4.25% year on year to an average USD2168 per tone in the second quarter 2014.

It posted a net profit for its second financial quarter ended June 2014 to rm1.9 million from rm1.63 million a year ago on stronger contribution from its construction and fabrication divisions, which designs and fabricates aluminium curtain wall, cladding systems and system formwork.

PMBTech’s major shareholder PMetal’s 2QFY2014 net profit almost tripled to rm60.03 million from rm20.04 million a year ago on optimum production at its smelting plants and higher aluminium prices.

SUmatec: Talk that its largest shareholder Tan Sri Halim Saad is increasing his stake in the company and is close to exciting its PN17 status.

It had completed a private placement of up to 308.6 million new shares in the firm to independent third party investors. This will result in Halim’s stake being diluted to some 20%. As such he is looking to increase his stake in the company by up to 32% without triggering an MGO.

It had proposed a private placement exercise in Jan 2014 to fund the company’s planned acquisitions of oil and gas fields in Kazakhstan.

The private placement was completed following the listing of and quotation of 308.6 million new shares of 14 sen per share in Sumatec on Aug 5 2014. The company will raise some rm85 million from the exercise.

PDZ: It has denied news reports indicating that the shipping firm was in discussions with certain parties to acquire assets and undertake corporate exercises in Indonesia or Malaysia.

PDZ said the potential assets were part of the company’s business plan formulated in general terms. The plan might involve fund raising exercises, including a rights issue.

There are no negotiations taking place pending completion of the due diligence on the potential assets save for negotiations for the acquisition of 20% stake in Efogen Sdn Bhd.

Nevertheless it was keen to explore potential acquisitions or exercises that would enhance shareholder value.

Meanwhile Pelaburan Mara Bhd reduced its shareholding in PDZ Holdings Bhd following the disposal of five million shares on 11 Aug 2014. It sold the shares in an off-market deal at 22.5 sen a share. After the disposal, its shareholding was reduced to 256.048 million shares or 29.54% based on the paid-up of 896.321 million shares.