EnglishTwo Cents

PDZ Continues To Soar And Gains Top Volume

Reporting by market analyst

 

Who is buying the shares in Anzo Holdings Bhd resulting in high volume again today?

Is it global funds from the United States or are they from China?

The way I see it, there may be a tussle to control PDZ!

Who wouldn’t be interested in PDZ now given that it has secured a RM600 million logistics contract with a top China-based e-commerce operator.

We don’t know who PDZ has partnered with in China but the names we hear are Alibaba Group Holding Ltd and Tencent Holdings Ltd who currently dominate the China e-commerce market with platforms such as Taobao and JD.com Inc.

From the United States, there are a lot of talks that global e-commerce platform operators like Amazon or eBay may be buying up shares in PDZ via a proxy.

The US is the world’s most developed market for online shopping by far, and either one of them taking a stake in PDZ could mean that they want to have a bigger hand in the logistics business as far as Asia.

PDZ rose to 23 this morning at around 10.30 a.m. When trading closed at 12.30 p.m, the stock had some 450 million shares traded.

It was the most actively traded counter across the local bourse.

While we are expecting the stock to hit limit-up this week, it can be expected given that the stock was trading only about 7 sen or 8 sen last week.

This RM600 million contract is a big deal for PDZ as it will help to improve the company’s financial earnings and gain new investors.

PDZ posted 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.

It recorded a net profit for the three months under review, compared to the preceding year corresponding quarter mainly due to the higher revenue and lower administrative expenses.

The logistics business is a lucrative business especially with Covid-19 pandemic as more people are buying household goods and other products online.

The Global Logistics market accounted for $11.68 billion in 2020 and is expected to reach $15.88 billion by 2027, growing at a CAGR of 4.5 per cent during the forecast period.

BacalahMalaysia Team

Berita portal paling trending di negara ini. Tanpa prejudis menjadikan suara rakyat didengari sewajarnya, ada kelainan, dekat di hati masyarakat dan pemerintah. Currently the country's most trending news portal. Prejudice free website that prioritizes and listens to the voice of the people with a difference, community and authority friendly

Artikel Berkaitan

Leave a Reply

Your email address will not be published.

Back to top button
Close