Latest news with #Boeing737-800BCF
The Star
4 days ago
- Business
- The Star
Trading ideas: MMAG, Keyfield, KAB, Rimbunan Sawit, Jentayu, AYS, Country Heights, Metronic, Nestle, ViTrox, Oriental Interest, KIP REIT, Luxchem, Betamek
MMAG Holdings Bhd has entered into a conditional aircraft sale agreement to acquire a Boeing 737-800BCF freighter for US$25.9mn (RM109.9mn) cash. Keyfield International Bhd has secured 2 work orders from Petronas Carigali Sdn Bhd for the provision of accommodation work boats to support the national oil company's offshore operations. Kinergy Advancement Bhd has secured fee-in approvals for two hydropower projects with a total installed capacity of 8.04MW under the Sustainable Energy Development Authority's FiT 2.0 initiative. Rimbunan Sawit Bhd has announced the termination of its JV with LCDA Holdings Sdn Bhd to develop a parcel of native customary rights land in Ulu Selangau, Sibu into an oil palm plantation. Jentayu Sustainables Bhd said Sumitomo Corporation does not intend to extend a MoU the parties signed 2 years ago to collaborate on renewable energy projects. AYS Ventures Bhd said the voluntary takeover offer by its associate company 3HA Capital Pte Ltd for all shares in Singapore-listed CosmoSteel Holdings Ltd has become unconditional, after 3HA Capital's shareholding crossed the 50% threshold. Country Heights Holdings Bhd 's wholly-owned unit, Country Heights Commercial Development Sdn Bhd has been served with a winding-up petition by the Inland Revenue Board over RM312,560 in unpaid taxes. Metronic Global Bhd is ending its JV with Zhuhai SingYes New Materials Technology Co Ltd to develop and market smart city solutions across the country. Nestlé (Malaysia) Bhd's net profit rose 20.0% YoY to RM112.1mn in 2QFY25, thanks to a disciplined focus on operational efficiency and a prudent pricing strategy, which helped offset rising input costs. Vitrox Corporation Bhd reported a flat net profit of RM28.1mn in 2QFY25, despite a 33.4% YoY increase in revenue to RM 183.0mn due to a sharp rise in tax provision following the expiration of its pioneer status in mid-June. Oriental Interest Bhd reported its highest-ever quarterly net profit of RM45.5mn for 3QFY25, driven by record revenue of RM305.3mn from construction progress of ongoing projects and contribution from newly launched developments. KIP Real Estate Investment Trust 's FY25 net property income surged 24.4% YoY to RM96.8mn, mainly driven by the contribution from its 7 KIPMalls and its 4 industrial properties, as well as the newly bought D'pulze Shopping Centre and TF Value-Mart. Luxchem Corporation Bhd 's 2QFY25 net profit declined by 27.1% YoY to RM8.9mn amid lower sales from its business segments. Betamek Bhd 's 1QFY26 net profit rose 10.5% YoY to RM5.4mn due to consistent favourable performance of the ringgit against the USD and the CNY as well as the better expenses monitoring by each unit of the group.
The Star
5 days ago
- Business
- The Star
MMAG acquires Boeing aircraft for RM110mil
PETALING JAYA: MMAG Holdings Bhd is acquiring a Boeing 737-800BCF aircraft from GASL Ireland Leasing A-1 Ltd for RM109.85mil. In a filing with Bursa Malaysia, MMAG said the acquisition will allow the group to have greater flexibility in its fleet management whereby, upon obtaining full ownership, it may lease the aircraft to other entities within the group as needed. 'Further, the group may also lease the aircraft to other third-party operators, thereby enhancing its asset utilisation and generating an extra stream of income.' It added that the acquisition will strengthen the group's position to respond to market opportunities swiftly. MMAG is principally involved in the mobile and fulfilment business, courier and logistics business, including air cargo logistics services, and air freight business. On April 9, the group obtained shareholders' approval to diversify its existing business operations to include the financial services business and aviation business.
The Star
5 days ago
- Business
- The Star
MMAG subsidiary set to acquire Boeing 737-800BCF freighter for US$25.9mil
KUALA LUMPUR: MMAG Holdings Bhd 's indirect wholly-owned subsidiary, MMAG SkyAssets Ltd, has entered into a conditional aircraft sale agreement to acquire a Boeing 737-800BCF freighter for US$25.9 million (RM109.85 million) cash. MMAG said the agreement was signed on July 23 with GASL Ireland Leasing A-1 Ltd (GASL) for the purchase of the aircraft bearing manufacturer serial number 29670. It said the aircraft, manufactured in 2005, is currently operated by MJets and used for freight under a lease agreement with GASL. "The purchase consideration was arrived at on a willing-buyer willing seller basis,' the company told the stock exchange in a filing. According to MMAG, the payment will be made in stages, including an upfront deposit of US$12.5 million, followed by monthly instalments and a final payment on the delivery date, scheduled for the fourth quarter of 2026. "The purchase consideration is expected to be funded via a combination of internally generated funds, bank borrowings and/or other funding alternatives,' it said. MMAG said the deal remains subject to shareholders' approval at an upcoming extraordinary general meeting and approvals from the Labuan Financial Services Authority and other relevant regulators. "The board, after considering all aspects of the proposed acquisition, including the key terms of the sale agreement, its rationale, potential effects, the group's current and future financial position, and the outlook for the aviation industry, is of the view that the acquisition is in the best interest of the company,' it said. - Bernama
Zawya
10-04-2025
- Business
- Zawya
SolitAir secures AOC in the United Arab Emirates
Dubai, UAE: Dubai World Central-headquartered middle-mile air cargo operator SolitAir has officially received its Air Operator Certificate (AOC) from the General Civil Aviation Authority (GCAA). The certification process, governed by UAE Civil Aviation Regulations (CAR) Part V, Chapter 4, required SolitAir to meet stringent operational, safety and financial capability standards. The approval underscores SolitAir's commitment to maintaining the highest levels of air safety and regulatory compliance, reinforcing its position as a trusted partner in the region's logistics and supply chain sector. 'Receiving the AOC from the UAE's competent authority is a testament to our operational excellence and readiness to drive innovation in air cargo transportation,' said Hamdi A. Osman, Founder & CEO of SolitAir. 'Our focus is on delivering agile, express, reliable and sustainable solutions to bridge the high growth, developing markets of the Global South with Dubai, one of the world's most sophisticated and hyperconnected trade hubs.' SolitAir also announced the addition of a fourth aircraft to its growing fleet. The cargo airline now operates three Boeing 737-800 BCF freighters – one of which is under a dry lease agreement and one 737-400 BCF. This fleet expansion supports SolitAir's ongoing growth from its state-of-the-art, 220,000-square-foot logistics facility at DWC. Four more aircraft will join its fleet by the end of 2025, with the aim of expanding to 20 aircraft by 2027. The company is also laying the groundwork for integrating electric aircraft into its network by the end of the decade, in line with its sustainability vision. SolitAir's versatile fleet is optimised for reliability, efficiency and the safe transport of specialised cargo categories, including temperature-sensitive pharmaceuticals, e-commerce shipments and hazardous materials, ensuring cargo reaches its destination securely and on time. Osman added: 'SolitAir is instrumental in advancing Dubai's vision to expand its industrial footprint and solidify its position as a global leader in air cargo transportation. With our cargo operations soon linking Dubai to 50 key markets across Africa, South Asia, Central Asia and the Middle East, we are poised to drive trade efficiency and foster economic growth throughout the Global South.' About SolitAir Dubai World Central (DWC)-headquartered SolitAir is the UAE's only dedicated cargo airline operating express daily scheduled services between Dubai and high-yield key trade routes across the Global South, catering to the bespoke transportation needs of freight forwarders, integrator airlines, SMEs, and e-commerce businesses. Thanks to its agile, customer-centric, and technologically advanced B2B, middle mile business model, SolitAir ensures the swift, efficient, and reliable airport-to-airport movement of goods and products. As a complementary partner to the global supply chain ecosystem, SolitAir bridges critical connections and delivers tailored speed-to-market solutions. SolitAir operates a growing fleet of modern narrow-bodied Boeing 737-800 aircraft connecting Dubai World Central (Al Maktoum International Airport) to high yield Global South markets across the Middle East, Africa, the Sub-Continent and Central Asia while adhering to stringent global, regional and local regulations. With a commitment to reliability, speed, flexibility and efficiency, SolitAir ensures seamless deliveries of Dangerous Goods, Pharmaceuticals, Perishables (including Meat, chicken and fish, and Frozen Goods), Valuable Goods, Vulnerable Goods, Oversized Freight and e-commerce. SolitAir was founded by Hamdi Osman in 2024 who currently serves as CEO. Hamdi is the former Senior Vice President of FedEX Express Europe, Middle East, Indian Subcontinent and Africa. For further information, please contact: Nabil Moufarrej Chief Marketing Officer, SolitAir nmoufarrej@ Lejo Johnny Leidar MENA Email:
