AirAsia Bhd
(RM3.75/share)
F&B segment aims
to boost revenue contribution
AirAsia Bhd’s regional head of catering and in-flight
business Shireen Chia said its food and beverage (F&B) segment plans to
contribute 7% to the company’s revenue next year. She said in a move to boost
revenue contribution, the company is in talks to partner other food and
beverage companies that want to have their products on board. The food and
beverage segment contributed about 5% to AirAsia’s revenue last year. She added
that currently they are in talks with four other companies. – Business Times
Malaysian Airlines
System Bhd (RM1.08/share)
Expects to double
digital sales this year
Malaysian Airlines System Bhd (MAS), which earned RM2.0bil
from digital sales last year, expects to double that in the current year,
driven by ticket bookings made through mobile devices. The airline’s
digital-based business include ticket bookings made via the website, which
contributes a bulk of the sales. MAS senior vice president for marketing and
promotions (commercial) Al-Ishsal Ishak said the tie-up with global online
payment company PayPal will help the company achieve its target to double the
growth in digital sales year-on-year. He added that MAS expects bookings made
online to grow by more than 500% this year. – Business Times
Construction
Sector
No reason for KLIA2
to cost RM5b
Suggestions that KL International Airport 2 (KLIA2), the new
low-cost terminal at Sepang, will cost RM5.0bil due to cost overruns appear to
be misguided, said sources close to the project. They said that costs could
rise to RM5.0bil if certain parties dictated terms to Malaysia Airports
Holdings Bhd to build additional facilities that were not in the current plan. One
of the sources said that as of now, the cost of construction will remain at
RM3.9bil. On claims that the airport would not be completed by its deadline of
April 2013, the sources said construction was on schedule and it was not a
question of whether the airport would be ready on time but whether the
operators of low-cost airlines could get their act together by then. – StarBiz
Property Sector
EPF takes a stake in
joint venture developing London site
Sime Darby Bhd, together with SP Setia Bhd, is teaming up
with the Employees Provident Fund (EPF) to develop the 39.1-acre freehold
Battersea power station site in London with a projected gross development value
of £8bil (RM39.4bil) comprising a mix of residential and commercial properties.
In separate announcements to the stock exchange early yesterday, conglomerate Sime
Darby and property developer SP Setia said a joint-venture company in which the
EPF would subscribe to a 20% stake would be set up - StarBiz
Source: AmeSecurities
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