Sky-high DCA fees, airlines to pay up to 10 times present rate

today close 42c

i bought 98.5c and 99c

lol close 64.5c

i checked something about ORION as below:

（吉隆坡27日訊）由跨國企業家王聲源（Michael Ong）所領導的中力有限公司（Powerus）與非洲國家幾內亞共和國公司Kindia資源公司簽署諒解備忘錄，以授權中力公司成為幾內亞鋁土礦的專利經營者。
王聲源表示，在這項授權下，中力公司將成為Kindia資源公司鋁土礦的經營者，並將協助將鋁土產品銷售到國際市場，特別是銷售中國買家。
兩家公司是在大馬對外貿易發展局大廈舉行簽署諒解備忘錄儀式，並獲得國際貿工部長拿督斯里慕斯達法，以及大馬非洲專業人士及企業家協會（MAPE）主席拿督威拉達尼的見證。
另一方面，王聲源受到記者詢問中力公司與Michael Orion公司之間是否有關系時，王氏表示，他是中力公司和Michael Orion公司共同董事。因此，中力公司也是Orion集團旗下的一家公司。
今年2月16日時，本地媒體報道，Michael Orion公司與斯渥系統（CWORKS，0079，創業板）有合作關系。斯渥系統目前也在爭取Michael Orion公司在關丹發展項目的資訊科技工程。
盡管王聲源在這次的簽字儀式中沒有提及斯渥系統，不過巧合的是斯渥系統上個月已經建議將公司名稱改為OrionIXL有限公司。這項建議目前還有待股東的批準。


點看全文: http://biz.sinchew.com.my/node/132040#ixzz44vNOea00
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近幾年虧損累累的斯渥系統（CWORKS,0079,創業板科技組），近日獲得產業以及物流公司Orion Micheal（OM）有限公司垂青，獲頒多項合約，市場並預測該公司很有可能成為潛在倒置收購目標。
易名引揣測
1月27日斯渥系統已經獲得大馬交易所批准將更名為Orion IXL，目前正在等待股東特大的批准。
OM除了頻頻頒發合約給斯渥系統，更由於斯渥系統的新名字Orion和OrionMicheal相似，引發市場揣測。
另外據傳，OM通過代理間接持有斯渥系統的股權，因此斯渥系統很有可能成為倒置收到的目標。
在OM主席王聲源主持的記者會上，斯渥系統主席拿督厄萊斯表示，公司和OM是緊密的合作夥伴。在本月OM的子公司PPYC物流頒發了近800萬令吉於他們，該份合約的賺幅約有20%。
“在我們完成軟件開發服務後，公司與OM還有很大的合作空間。”
截至2015年9月30日止第三季，斯渥系統淨虧30萬令吉，9個月淨虧100萬令吉。
針對導致收購一事，厄萊斯認為似乎有點言之過早。
他說：“倒置收購是一件長期的事情，以目前來說該公司和OM仍忙於短期的合作。如果倒置收購成事的話，對股東來說會是一件好事，但現在我們先弄好公司營運狀況，才能談倒置收購一事。”
王聲源表示，OM和斯渥系統是關係緊密的合作對象。
他說：“我十分欣賞斯渥系統所設計的軟體，因此該公司選擇了與斯渥系統合作，同時也有意引介斯渥系統進入斯里蘭卡的市場。”
王聲源補充，目前OM也正在與4家不同的上市公司洽談合作，分別為兩家產業公司和一家製造公司，而斯渥系統是唯一一家科技公司。
在未來，OM未來將在關丹港口發展一項總地庫高達1000英畝，總發展價值達到25億令吉的產業計劃，共分三期發展。
整個發展項目預計8至10年。其第一期的28層商業綜合大樓預計將投入6億2千萬令吉，該大廈內設有酒店、辦公室以及住宅。
該綜合性商業大樓所有軟體系統都將交由斯渥系統負責開發。
他也表示，關丹港口財團以及關丹港務局也將進駐該大廈。
此外，王聲源也表示，除了產業發展外，OM也與中國濱州碼頭簽訂合作意向書，將在關丹碼頭建立全馬第一個建築材料轉運中心。
OM創辦人多領域有投資
OM創辦人王聲源是一位長期在國外從商的大馬商人。他在多個領域都有投資，目前主要是從事在產業、礦業以及種植業等行業。根據他的說法，由於他長期從事種植行業以及工作勤奮，認識他的朋友都稱他為“老農”。（星洲日報／財經‧報道：傅文耀）

64c now

closed 43c

going to change name to ORION

63c

Daily technical highlights – SEDANIA | JCY
Author: kiasutrader | Publish date: Thu, 31 Mar 2016, 09:34 AM

SEDANIA (Not Rated). Yesterday, SEDANIA saw its share price surging 3.5 sen (+8.3%) to RM0.455 on trading volume, which was the highest since July last year. The share price has climbed from a low of RM0.36 earlier this month (15th of March) before pausing for a breather just below the 50- and 100-day SMAs (RM0.42/RM0.43). Nevertheless, SEDANIA is poised to resume its bullish move as a result of yesterday’s decisive breakout above the RM0.43 level. From here, expect the share price to climb further towards the January highs of RM0.51/RM0.52 (R1). Should this resistance level be taken out next, we would then set our sights on RM0.65 (R2). Meanwhile, downside support should be present at RM0.42 (S1) and RM0.40 (S2) below.

TomyamGong , i think 41.5c and 42c can collect

See whether can break 45c

net cash flow got RM 34 mil , asset RM 43 mil, Liability RM 3 mil ONLY

macam rebound

sapu 41c

NOW Macam open 1.10

today already reach rm 1.10

see whether can go above rm 1.10

can go up?

Len Cheong Holding Bhd (-ve)

SHARES of Len Cheong Holding Bhd (fundamental: 0.75/3; valuation: 0.9/3) triggered our momentum algorithm for the eighth time this month. Its shares inched up half sen or 1.47% to close at 34.5 sen yesterday after 8.54 million shares changed hands.

In a filing to Bursa Malaysia dated March 28, the wood furniture maker announced that Swiss Hotel Sdn Bhd has ceased to be a substantial shareholder of the company after disposing of two million shares through the open market at 16.5 sen each.

The company turned around and posted a net profit of RM1.39 million in its fourth quarter ended Dec 31, 2015 (4QFY15), from a net loss of RM1.73 million a year ago, as revenue climbed 29.5% to RM8.78 million from RM6.78 million.

For the full year, Len Cheong slipped into a net loss of RM4.98 million from a net profit of RM13.07 million in FY14.

The stock currently trades at 0.8 times its book value.

now 32c / 32.5c can buy some

ranging only la

57.5c wor

BAT shuts down Malaysian plant




KUALA LUMPUR: British American Tobacco (Malaysia) Bhd (BAT), which had been wrestling with high sin taxes and a growing illicit market — and just weeks after fellow tobacco player JT International Bhd (JTI Malaysia) said the country had reached a tipping point in terms of the amount of tax the industry can absorb — has decided to close down its factory in Petaling Jaya and source tobacco products from its sister companies in the region.

The closure of the factory in Jalan Universiti will be done in stages and will be completed by the second half of next year, as part of a restructuring exercise, said BAT, which counts Peter Stuyvesant, Dunhill and Pall Mall among its brands of cigarettes, in a filing with Bursa Malaysia yesterday.

The move will see BAT let go of 230 workers with a benefits package and an option to go through a career transition programme.

“The restructuring is in line with the company’s efforts towards realising a new and more sustainable business model, amid an increasingly challenging business environment. The high-excise environment has ultimately led to the sharp rise in illegal cigarettes and significantly lower legal sales volumes, resulting in rising cigarette production costs,” said BAT.

Its wholly-owned subsidiary, Tobacco Importers and Manufacturers Sdn Bhd, will wind down the factory, which sits right smack at the intersection that used to be a roundabout colloquially referred to as the “Rothmans Roundabout”, coined after BAT’s previous name, Rothmans of Pall Mall (Malaysia) Bhd. The company manufactures tobacco products and semi-finished goods, such as processed tobacco, at the factory.

“This increasingly challenging environment requires the company to restructure and transform its business which, apart from the winding down of factory operations, includes the sharpening of its commercial capabilities whilst optimising the supply chain and transactional activities to ensure that BAT remains a competitive consumer-focused market leader,” said BAT.

The local tobacco industry had to contend with three rounds of excise-duty hike between 2013 and 2016. Tobacco tax rose 14% in September 2013, 12% in November 2014 and a whopping 36% in November 2015.

The last round of hike prompted BAT managing director Stefano Clini to express his “extreme disappointment and shock” as he could not imagine the impact the hike would have on the industry.

To compound matters, the excise-duty hike came after the introduction of the goods and services tax (GST) last April.

In an interview with The Edge Financial Daily early this month, JTI Malaysia general manager Guilherme Silva said there had been a 20% decline in legal industry volume over the last three months, following the excise-duty hike in November last year.

“We have reached the tipping point. If there is further movement in the prices of cigarettes, the tobacco industry would collapse,” he said. JTI Malaysia is the country’s second-largest tobacco company with a 22% market share, after BAT (62.1%).

Following the closure of the factory, BAT plans to sell the land on which it is located via a public tender exercise that is expected to be completed around May — subject to shareholders’ approval. According to the group’s latest annual report, its two plots of land in Petaling Jaya — collectively measuring 49,605.44 sq m — had a net book value of RM57.48 million as at Sept 30, 1961.

BAT, the only public-listed tobacco player on the local exchange, announced a 1.7% year-on-year increase in net profit for its financial year ended Dec 31, 2015 (FY15) to RM913.31 million or RM3.187 a share last month, though revenue fell 4.6% to RM4.58 billion.

The same announcement also showed a 13.5% decline in its domestic volume versus the 8.2 billion sticks it sold in 2014, due to weaker market sentiment post-GST and the impact of the “unusually large November excise increase”. The 2014 figure was down 300 million sticks from the volume it recorded in 2013.



http://www.theedgemarkets.com/my/article/bat-shuts-down-malaysian-plant

Notice of Shares Buy Back - Immediate Announcement

NTPM HOLDINGS BERHAD

Date of buy back 29 Mar 2016
Description of shares purchased Ordinary Share of RM0.10 each
Currency Malaysian Ringgit (MYR)
Total number of shares purchased (units) 10,000
Minimum price paid for each share purchased ($$) 0.985
Maximum price paid for each share purchased ($$) 0.985
Total consideration paid ($$) 9,850.00
Number of shares purchased retained in treasury (units) 10,000
Number of shares purchased which are proposed to be cancelled (units)
Cumulative net outstanding treasury shares as at to-date (units) 60,000
Adjusted issued capital after cancellation
(no. of shares) (units)
Total number of shares purchased and/or held as treasury shares against total number of issued shares of the listed issuer (%) 0.0053

The Board of Directors of the Company is pleased to announce that a First Interim Single Tier Dividend of 8% in respect of the financial year ending 30 April 2016 has been declared by the Company, which shall be paid on 22 April 2016 to the depositors registered in the Record of Depositors at the close of business on 15 April 2016.

This announcement is dated 25 March 2016.

Can buy below rm1?

what news

see whether 1.7 can support

OTHERS AIRASIA BERHAD ("AIRASIA" OR "THE COMPANY") - Clarification on Article Appearing in The Edge Malaysia on 28 March 2016

AIRASIA BERHAD

Type Announcement
Subject OTHERS
Description AIRASIA BERHAD ("AIRASIA" OR "THE COMPANY")
- Clarification on Article Appearing in The Edge Malaysia on 28 March 2016
We refer to the query raised by Bursa Malaysia Securities Berhad (“Bursa Securities”) on 28 March 2016 pertaining to an article appearing in The Edge Malaysia two days before entitled “Tune may privatise AirAsia with China Everbright”.



On behalf of the Company, the Board of Directors wishes to inform that after making due enquiries with all the Company’s directors, they are not aware of the reason for the article. The Founders and Tune Air also indicated that they are not considering a privatisation at this stage.



This announcement is dated 30 March 2016.

On behalf of the Company, the Board of Directors wishes to inform that after making due enquiries with all the Company’s directors, they are not aware of the reason for the article. The Founders and Tune Air also indicated that they are not considering a privatisation at this stage.

sienz now 1.8 become resistance

any news on AA?

郑大禄带领 BISON写下传奇

创业的道路向来荆棘满布，如果你是外行人，艰辛的程度更是超出一般人的想象，BISON集团执行董事郑大禄，就属于后面这一类，从不懂到精通，从一无所有到本地第一，堪称创业传奇。
在1996年，月薪5位数的郑大禄，毅然放弃当时被视为“金饭碗”的科技业高职，出来创业，开设一家以售卖报刊为主的便利商店。
我们现在看到的是，郑大禄带领的BISON集团已经站稳脚步，旗下的myNEWS.com品牌，拥有255家分店，近期也通过上市筹资，以便迈向另外一个更高的层次。
然而，没有多少人能够了解郑大禄是如何从零开始的。
本期《财经周刊》带领读者窥探这家在国内已经成名的便利商店，追溯郑大禄这20年来发展事业的酸甜苦辣。
郑大禄勇敢换跑道创业
我们凡是经过车站、购物广场，或是住家附近，都能够看到myNEWS.com便利店，为客户提供报刊、食物、饮料以及其他用品，发挥极大的便利功能。
创办人郑大禄，当初放弃5位数的月薪，毅然投入卖报刊的行业，他所面对的反对声浪及障碍可想而知。他是怎样走过来的呢？
56岁的郑大禄，是创建BISON集团的灵魂人物，目前在公司担任执行董事。
郑大禄在1985年，于加拿大曼尼托巴大学（University of Manitoba）取得电脑科学学士学位。
这所大学的吉祥物是美洲野牛（Bison），或称犎牛或美洲水牛，它是北美洲体型最大的哺乳动物，更是全世界最大的野牛之一。
郑大禄描述，当时在校园的任何活动和角落，都可以看到美洲野牛图案出现在活动旗帜或徽章上。
“美洲野牛体型非常强壮，它象征强大和稳健，这也是我用它作为公司名称的原因。”
完成学士课程后，他在1985至1996年投入IT领域，成为银行应用系统和主要框架系统的程式设计员，负责电脑网络和系统支援，也参与发展电脑网络复原计划。
期间，他又回到母校，于1992年完成电脑科学硕士学位。
直到1996年创业前，他在职场上担任生产音响系统设备的相关部门总经理。
创建便利商店的起点，就从位于雪兰莪万达镇，当时新开张的万达购物广场（1Utama）的一个空置店铺说起。
资金全自掏腰包
“我和妻子在万达购物广场发现一间空置的店铺，位置不错，过后我们得知这店铺已有人租用，打算贩卖报刊，然而尽管购物中心已开张，店铺仍还没有开张。”
“在了解这家店铺和租户的状况后，我们有意接手。”
当时的郑大禄的住处和工作地点都在霹雳州，家乡则在爱大华。
“过后我们接到一通电话，得知我们获得了那间店铺的租用权，于是就开始了这门生意。”
可能读者会有疑惑：怎么贸贸然就做出这样的决定呢？原本在科技领域从事专业工作的郑大禄，为何会有如此大的跨越？难道没有考量到资历上的挑战吗？
对于这些问题，郑大禄的回答很简单：“我只是想要创出自己的事业。”
“当时我已计划辞退工作，出来创业，但也没有打算从事需要成本庞大的事业。”
“全部的初始资金，都是自掏腰包，用来支付租金和杂志定金。”
几经波折终见春天
郑大禄是个有故事的人，创业旅程面对来自家庭和事业的重重挑战，几经波折才取得现在的成就。
他也是感性的人，在专访过程中，每当谈及过去身边的至亲给予无条件支持时，郑大禄为了不让男儿泪再落下，而选择不谈。
“就这样，我们决定了开张第一家店铺营业！”
对他来说，是最喜悦不过的画面，心中充满了对未来业务发展的向往。
然而他们的举动，让家人感到疑惑，给予的反应都不怎么好。
试想想，从一个高薪的白领，在90年代领着5位数月薪，投入贩卖报刊的便利店业务，这是多么大的落差，面对的阻碍和质疑无法想象。
“从高薪的专业人士，变成卖报纸的人，不少家人劝阻我，包括我的岳母要求我的妻子，劝我回到原本的领域工作。”
对于来自加拿大百年大学的专才生换跑道，不只是身边的人想不通，连开张后的客户对他也摸不着头脑。
“我还记得在经营第一间店期间，一位时常前来光顾的老客户，在一次光顾完走出店门后，突然间转身回到我的店里，向我说了一句：我觉得你可以做其他比这门更好的生意。”
他继续描述，那位老客户提到，没有多少位华人从事“卖报纸”的生意。
“我猜对方的意思是，华人在经商上比较敏锐，因此，没有华人从事的行业，可能意味着没办法从中获得财富。”
现在看来，那位老客户似乎看走眼了。即使面对身边任何一个人的负面评价，郑大禄都没有动摇过，反而更坚定的走下去。
家人实际行动支持
郑大禄回忆说，家人虽然反对他开店卖报刊，不过，在店铺开张当天，仍然以实际行动来支持他的决定，这段往事成为他心中最美好和最感动的回忆。
本月4日，郑大禄在万达酒店（One World Hotel）会议大厅，即第一家分店所处的万达购物广场附近，为BISON集团推介招股书。
他在现场致词时，提到了创业阶段的艰辛。
“各位，让我带你们回到这趟旅程的起点吧。我们夫妇俩以小资本起家，在1996年的圣诞节开张第一间店铺。”
“之所以选择在圣诞节开张，是因为那天为假日，能让更多亲戚过来协助我们……”
说到这里，忆起家人对他的付出，郑大禄忍不住在台上留下泪水，现场一片肃静，而他的弟弟郑大文则赶紧上台安抚哥哥。
然而在擦干泪水后，为了缓和情绪，他没有继续描述，跳过了演讲稿中的这一段：“……我仍记得在那创业初期，我母亲帮我们照顾小孩，而现已去世的父亲在当时也尽可能过来协助，架起不少货架，而这些货架仍在一些分店中使用。可以说，没有家人的支持，绝对没有今天的成就。”
上市拟筹8868万
BISON集团的主要业务，是在各大商场、公交车站等主要人流社区，开设便利零售商店，贩卖报刊、食品、饮料、香烟产品以及提供客户服务，如支付账单等。
BISON集团也是国内第二大便利零售商店公司，排在大马7-11控股（SEM，5250，主板贸服股）之后。
该集团的便利商店数量，占国内市场总数的8.6%，总营业额占国内相关领域总额的6.6%。
旗下分店品牌包括myNEWS.com、newsplus、MAGBIT、THE FRONTPAGE，合计总分店达255间，其中myNEWS.com就占了223间。
兼营WHSmith便利商店
BISON集团也在部分国内机场，经营WHSmith便利商店，目前共有8间。
在所有255间分店中，其中201间设在中马区，雪隆区占其中的197间。目前，所有分店都是BISON集团直接拥有和经营。
BISON通过首次公开募股（IPO），计划筹集8868万令吉，其中5000万令吉，或占总额的56.4%，将作为未来三年的资本开销，另外3223万令吉或36.3%为营运资本，剩余则为上市开销。
而在资本开销方面，其中的3555万令吉，将用于增设新分店和提升现有分店。而另外的1445万令吉，则是提升公司在全国物流程序和信息技术的能力。
店面成本低加快业务扩展
记者透过BISON集团的招股书，与大马7-11控股在2014年的招股书做比较，发现两者在开设新分店成本方面，出现明显差别。
BISON在招股书中列出，每一间新分店的开张成本介于17万5000至25万，而大马7-11的则是20万令吉至30万令吉。
另外在店面翻新成本中，BISON的是每间约4万令吉，低于大马7-11的10万至15万令吉。
由此，我们可以看出，虽然相比大马7-11的规模，BISON旗下的便利店业务规模较小，但在成本低廉的优势上，料能加快业务扩展的步伐。
卖报刊系统化挑战大
谈到从第一间店铺至今的经营历程，面对最大的挑战就是如何将“卖报刊”的行业系统化。
郑大禄指出：“开始接触这行业后，发现报刊销售领域毫无系统，非常凌乱，因此，系统化是这个领域必须克服的技术问题。”
郑大禄也补充，目前还有不少报刊都没有标上条码（Bar Code），这也是便利商店业者至今面对的难题。
“条码能够为报刊贩卖商家或便利店业者更系统化地处理买卖，然而，有些报刊的出版商，却还未跟上市场的脚步。”
他也批评，有些大型媒体报章和杂志，无法从该刊物出版社中直接购得，这让便利店相关行业极为不便。
拟明年杪前增115分店
BISON集团计划在2017年杪前，在国内增设115间新分店，以及放眼在北马或南马增设一个新物流分销中心。
郑大禄说：“据独立市场研究Smith Zander的数据，在泰国和新加坡，每100万人口中，分别拥有145.2间和162.2间便利商店，这平均数据都比我国的135.1间来得高，因此国内仍有增长空间。”
而谈到新物流分销中心时，他不愿透露具体位置，但他认为，若比较人口情况和消费水平来看，半岛南部的市场，比北部更有潜在发展空间。
不过，郑大禄并没有打算将南部如柔佛州，作为进军新加坡市场的“跳板”。
他解释，无论在人口结构、营运、员工成本及市场情况，新加坡都和我国不一样，因此，将继续专注发展西马市场。
交通基建欠善 暂不专注东马
相对于西马的拓展计划，BISON集团在东马则相对冷淡，只有2家myNEWS.com在砂拉越经营，另外还有1家WHSmith在沙巴，整个东马就只有3间分店，对公司的营业额贡献和很小。
公司在8年前进驻东马，但至今仍只有3间分店，这是什么原因呢？
“除了沙巴的机场便利店外，砂拉越的分店都开设在购物商场内，没有在店铺开设；另外还有不能不面对的障碍，就是物流问题。”
郑大禄解释，东马的交通基建不如西马完善，因此，无论在运输时间或资金成本方面，都无法完全控制。
除此之外，不少杂志和报刊的印刷厂都设在西马，若加上运输和其他开销，就能够解释BISON集团为何暂时不把重心放在东马。
灵活选地点开分店
BISON旗下拥有业务发展小组，不断寻找和研究不同的区域，包括针对特定的地方研究人口结构，深入研究当地的生活方式和购买习惯。
谈及选址，就不得不提捷运项目，BISON集团是否有计划在每个车站设立分店？郑大禄不愿透露更多详情，只表示“我们会根据步骤来寻求机会”。
捷运第一路线（MRT1）和第二路线（MRT2），合计共有67个车站，若BISON集团取得人流量高的车站位置开设分店，对业务来说，无疑是极大的增长催化剂。
不过郑大禄补充，捷运车站地点不是公司仅有的发展方针。
“就算没办法在车站内开设分店，那也不意味着我们无法在车站旁开设，所以地点的选择，可以是非常灵活的。”
分析员评价不一
尽管成为本地便利店品牌老大之一，然而，分析员对于这家公司的评价不一，打出的合理价格也出现不小的落差。
达证券提出了比IPO价格更低的92仙合理价位，这是依据该投行在2016财年的每股盈利预测4.6仙，以及20倍本益比计算出来。
分析员也提到，给予折价的合理价格，反映出BISON集团在市值以及净资产收益率上，比其他同行低。
该投行也指出，投资BISON集团存在数项风险，包括公司的利润容易被新开张分行所需的成本侵蚀、没有任何派息政策，以及零售领域竞争激烈等。
分析员也认为，若相比国内外便利商店企业，BISON集团的估值偏高。
达证券提到，虽然城市化的发展以及人口增长，对BISON集团以及其他便利商业者来说是利好，但由于目前的令吉对美元疲软，减弱了消费者的信心，因此，短期内料面对业务增长的局限。
另外，英特太平洋研究则乐观看待BISON的展望，预测2016和2017财年的净利，料分别增长23.7%和28.7%，并且将合理价格设在1.29令吉水平。
联昌国际投行研究也“卖花赞花香”（联昌国际投行是该公司上市活动的首席顾问、配售代理及承包商），认为零售便利商行业虽然竞争激烈，但不影响BISON集团在市场上的发展。
“相比起其他的便利商，BISON集团拥有广泛和具有战略性的门店网络，因此，我们没有过分担忧来自小型便利商店的竞争。”
联昌国际投行研究预测2016和2017财年营业额，分别增长22.9%以及28.2%，利息、税务、折旧与摊销前盈利（EBITDA），料分别增长32.6%和31.4%。

hopefully

Posted by traderman > Mar 29, 2016 05:44 PM | Report Abuse

tomorrow straight open 1.82

see how tomorrow, not sure whether this drop is caused by Hijacked aircraft - Egypt Air

1.77

ONE DAY SHOW.............. got profit better sell

亞航6傳私有化‧分析員：狼來了
Author: Tan KW | Publish date: Tue, 29 Mar 2016, 01:19 PM

2016-03-29 08:47

（吉隆坡28日訊）亞洲航空（AIRASIA，5099，主板貿服組）再傳私有化消息，但分析員不再隨風起舞，認為只是“狼來了”，更強調私有化亞航不如市場想像般簡單，可謂困難重重。

上週，市場傳出亞航大股東丹斯里東尼費南德斯和拿督卡瑪魯丁，計劃與中國光大銀行攜手私有化亞航。受消息刺激，亞航股價今日一度起11仙至1令吉91仙。

雖然分析員潑冷水，但亞航股價最終仍以1令吉89仙收市，漲8仙，成交量報5千799萬1千股，是全場第3熱門股。

馬銀行研究直言，自亞航2004年上市至今，市場至少已傳出5次私有化謠言，加上今次則多達6次，但亞航本身卻始終不曾收到任何私有化獻議，顯示私有化或許不如市場想像般簡單。

“就現實考量，亞航今次也不太可能私有化；因為，東尼和卡瑪魯丁過去12個月來並不曾增購亞航股票，即使傳言中的合作夥伴中國光大銀行暗地里購股，持股卻也肯定不到5%，所以才無須對交易所匯報。”

馬銀行直言，自上月杪公佈第四季業績以來，亞航股價至今已大漲超過30%，股價如今已高於1令吉80仙目標價，因此決定調低該公司投資評級至“守住”。

馬銀行還建議投資者，假如亞航股價因私有化傳言而走高，投資者該趁機套利。

達證券亦不看好亞航私有化謠言，因從虎航和馬航（MAS）私有化來看，股東不太可能願意接受任何低於每股有形資產值（NTA）2倍以下的獻售價，相當於3令吉18仙。

“更何況，東尼及卡瑪魯丁目前不過合計擁有亞航的18.9%股權，距離75%全購門檻非常遙遠，要通過少數股東這關並不容易。”

不管怎樣，達證券維持亞航“買進”評級不變，目標價2令吉39仙，相當於2016年的9倍預估本益比。（星洲日報／財經）

trademan, see whether 1.80 can support or not first

Tata Sons increases stake in AirAsia India to 49%, equal to AirAsia Berhad

MUMBAI: MUMBAI: Tata Sons will increase its stake in budget carrier AirAsia India to 49 per cent, effectively making it the biggest shareholder in two local airlines and underlining the group's long-term ambitions in the country's fast-growing aviation industry. The move should also help the carrier get moving on delayed expansion plans.

The salt-to-software conglomerate will buy a 7.49 per cent stake from the airline's smallest shareholder Telestra Tradeplace, owned by Arun Bhatia, it said in a release on Monday. AirAsia India Chairman S Ramadorai and Director R Venkataramanan will together buy Bhatia's remaining 2 per cent holding, giving the latter an exit from the airline. The Tony Fernandes-founded and Malaysia-based AirAsia Bhd will retain its 49 per cent stake.

Tata Sons owns 51 per cent of Vistara, its joint venture with Singapore Airlines, which owns the rest.

Tata Sons didn't say how much the additional stake in AirAsia India will cost. Additional equity has been a key requirement for the airline which, with a mere $30 million (Rs 200 crore) investment - less than a third of what Vistara got - has been struggling for cash and lagging rivals. The airline that started in 2014 has just six planes, half of what it had targeted in the first year itself. It controls about 2 per cent of the Indian domestic passenger market.

Mark Martin, founder of Martin Consulting LLC, called the investment a "win-win" for buyer and seller and said it will initiate a period of rapid expansion for AirAsia India. It plans to increase weekly capacity to 280 flights a week from 168.

"While the details aren't out, Bhatia would have got a sweet exit for sure. The Tata investment is great news of course. AirAsia has been slow in finding its feet, with rapid management changes and unsure moves. All that will now change. We should see the airline scaling up fast from here on," he said.

The move will see the departure of a shareholder whose relationship with his partners appeared to have soured. Bhatia had accused the Malaysian parent of controlling the carrier in contravention of the law, ET reported in December, citing him. He also blamed the carrier's disappointing performance on poor management and third-party agreements with companies affiliated to Fernandes.

At the time, he had said he may move court or approach the authorities. Tata Sons has rejected accusations that AirAsia India is not under the effective control of the Indian management. Bhatia is a Delhi-based businessman whose son married ArcelorMittal CEO LN Mittal's daughter in 2004.

The Tata Sons investment comes as the aviation business is looking up, thanks to lower fuel prices and growing demand. Sydney-based consultant CAPA-Centre for Aviation said India's airlines will, in the current financial year, cut losses by 72 per cent to $350 million (Rs 2,332 crore). AirAsia India doubled its loss to Rs 38.2 crore in the October-December quarter from the year earlier.

Martin said Bhatia's exit was expected and that his presence had been a surprise in the airline, "nor was it much of a value add".

ET had in June last year first reported on Bhatia's inclination toward selling his stake.

"If the Tatas are willing to buy, I am OK to sell," he had said. At the time, Tata Sons owned 30 per cent of the airline while Bhatia owned 21 per cent. Weeks later the conglomerate increased this to a little over 41 per cent, reducing Bhatia's stake to about 10 per cent. In December, ET reported differences between Bhatia and the rest of the shareholders and his unwillingness to invest more money in the airline.

There have also been departures at the top of AirAsia India. Earlier this month, the airline announced the exit of CEO Mittu Chandilya and said Amar Abrol, chief of Tune Insurance, would replace him. Since it began operations, AirAsia India has lost or replaced about 10 top executives.

The list includes chief financial officer Vijay Gopalan and commercial director Gaurav Rathore, apart from the heads of flight operations, operations control, human resources, cabin crew, security, group operations and corporate quality.

good buy at 1.81 and 1.82 thurston

quote //

I bought again at 1.81 and 1.82, for long term, not for contra.

Buy shares based on fundamental and also PE ratio. To determine if a share price is high or not, is not based on their recent up 30% as Maybank IB stated, but based on PE ratio.
29/03/2016 11:35

// unquote

already hit 1.79 / 1.80, correction should have done. time to go up?

close 77.5c possible

now can get 77c

gg..................... lucky sold 15.5

gg

77C NOW

see whether can go 80c around 430pm,