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Reports Malaysia

Malaysia stock market and companies daily report (July 17, 2014)

July 17, 2014, Thursday, 05:05 GMT | 01:05 EST | 09:35 IST | 11:05 SGT
Contributed by Shares Investment

AirAsia X To Buy 50 A330-900neo

- AirAsia X has agree to buy 50 Airbus A330-900neo jets, the latest version of best-selling widebody, with deliveries scheduled to begin in 2018.

- AirAsiaX is one of Airbus’s largest airline customers in the world, the group ordered 536 Airbus aircraft, excluding the recent agreement .

- AirAsiaX aims to use these aircrafts for it future fleet and hub expansion as well as for its replacement of it exisiting fleet .

Significance: With the new A330neo which is the most cost efficient, medium range widebody aircraft on the market, it will help AirAsiaX reduce fuel consumption by 14 percent per seat, and 26 percent for longer-haul flights, for example, to Europe.

Global Ventures To Spin Off More Businesses For Listing

- Felda Global Ventures Holdings (FGV) president and CEO Mohd Emir Mavani Abdullah has announced that FGV is looking spin off some of its companies under different clusters for listings, with the earliest happening only next year.

- FGV has restructured into six clusters with more than 15 companies under it. The six clusters are mainly oil palm upstream, oil palm downstream, sugar, rubber, research and development (R&D) and transport, logistics marketing and other (TLMO).

- The group is on an expansion mode for its rubber segment by acquiring rubber mills and from there they will further reach for landbank expansion. Also, FGV will commence its consumer product distribution centres in India and Vietnam by this year.

Significance: FGV has announced that it is on track of achieving its target with landbanking activities, expansion in the downstream operations and cost optimization efforts as its main drivers of growth.

Scomi Will Participate In RM5.9b Brazil Monorail Project

- Scomi Engineering  announced that it will provide rolling stock technology, rolling stock and maintenance services to the planned RM5.9 billion ringgit subway project for Line 18 Bronze subway network in Sao Paolo, Brazil.

- The contract was won by Consorcio ABC Integrado, a consortium comprising of Primav Construcoes e Comercio S/A, Construtora Cowan S.A., Encalso Construcoes Ltda and e Benito Roggio Transportes S/A,

- The monorail alignment will be 15.5 km long with 13 stations, a depot, and three interchange terminals.

Significance: This project will be expected to contribute to the Scomi’s revenue in FY16.