PDZ, Sanichi to build RM1 billion logistics hub in Johor

PDZ Holdings Bhd, which won a RM600 million contract from an e-commerce platform operator in China is believed to be in the process of establishing a new logistics hub in Johor.

Remember my sharing in previous post; Penny stocks led by PDZ driving up volume on Bursa

We understand that the Johor state government is involved in this project and PDZ may also rope in Sanichi Technology Bhd as its technical partner for the development.

The new logistics hub, believed to cost over RM1 billion will be developed across 253 acres of state land.

Perhaps this could explain why Malaysian billionaire Tan Sri Syed Mokhtar Albukhary, who has many businesses in ports and logistics is eyeing a substantial stake in PDZ.

Syed Mokhtar, estimated to worth US$1.2 billion and rated by Forbes as the 13th richest man in Malaysia (Malaysia’s 50 Richest 2020) may be eyeing PDZ to widen his logistics empire.

PDZ is involved in the container liner business. According to its website, it operates six vessels that cover domestic and regional trade between Malaysia, Brunei, Singapore and Myanmar.

It posted a higher revenue of RM1.22 million for the current quarter ended March 31, 2020, compared to the preceding year corresponding quarter of RM1.04 million, due to the higher volume transported by the firm between January and March.

PDZ recorded a net profit for the three months under review, compared to the preceding year corresponding quarter.
The stock traded heavily on July 8, with its price rising 11.5 sen or 127.78 per cent to 20.5 sen, giving it a market capitalisation of RM181.75 million. Some 1.33 billion shares were traded.

Then on July 10, the stock fell to 16 sen but moved up again to 25.5 with close to RM1 billion shares traded. It closed 20 sen on Friday.

A fund manager mentioned that the stock could hit a second wave of uptrend this coming week so do keep a look out.

He also thinks that the building of the logistics hub in Johor could lead to more jobs for PDZ.

The RM600 million contract from China which PDZ won recently could be from Alibaba Group Holding Ltd or Tencent Holdings Ltd who currently dominate the China e-commerce market with platforms such as Taobao and JD.com Inc.

The fund manager said, PDZ will surely benefit from the current Covid-19 situation as the prices for logistic shipment is more convincing than freight.

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ciktom

Cik tom seorang part time blogger yang sangat sukakan dunia blogging dan buah tomato. Mula menulis blog 15 Julai 2010. Menaip segala ilham dari akal fikiran dan hati ke dunia alam cyber. Sebarang persoalan atau pengiklanan/advertorial/review sila hubungi ciktom; tomatogurl86[at]gmail.com...gantikan [at] dengan @

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