Rm1 Billion Logistics Hub For Johor By Pdz Sanichi Syed Mokhtar Also Involved
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RM1 Billion Logistics Hub for Johor by PDZ, Sanichi. Syed Mokhtar also Involved?
PDZ Holdings Bhd, Sanichi Technology Bhd and a company linked to the Johor state government are expected to invest some RM1 billion to set up a regional logistics hub in Johor. We understand the hub will be part of a digital free trade zone that was launched by former Prime Minister Najib Razak and Alibaba’s founder and executive chairman Jack Ma in 2017
Interestingly, there have been reports that PDZ had won a RM600 million logistics contract from a top e-commerce operator in China.There is a lot of speculation that the contract could have come from Alibaba or Tencent Holdings Ltd who currently dominate the China e-commerce market with platforms such as Taobao and JD.com Inc
PDZ hasn't announced the contract yet as it could be finalising the nitty gritty details of the deal. Back to the logistics hub, we hear that PDZ is looking to expand its own business of shipping and logistics in Malaysia, and to venture into Asia on a bigger scale as there is huge demand for logistics with the Covid-19 pandemic
It probably chose to build the hub in Johor because of the state government's involvement and its close proximity to Singapore where it is anticipating to get some of the logistics business from. 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
The company 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. On July 10, the stock dropped to 16 sen but inched up to as high as 25.5 with close to RM1 billion shares traded
Many are closely watching PDZ and how it will trade this week. Some are expecting a second wave of interest in the stock this week where they think it might hit 30 sen. There are talks that Malaysian billionaire Tan Sri Syed Mokhtar Albukhary, with business interest in ports and logistics may be eyeing a substantial stake in PDZ.
Is Syed Mokhtar also involved in the new logistics hub in Johor with PDZ? Someone must know something for this news to spread in the market place and for the stock to have high trading volume lately. 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 interested in PDZ to expand his interest in logistics
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