Friday, 28 February 2014
PETALING JAYA: AirAsia Bhd aims to rake in RM10mil in ticket sales from the three-day AirAsia Travel Fair 2014, which started on Friday and stretches until Sunday.
Group Chief Executive Officer Tan Sri Tony Fernandes said he was also optimistic about securing even higher sales than what was targeted. The fair is the first of its kind to be organised by the low cost carrier.
"We are steadfast over maintaining our market share and to remain the airline of choice when it comes to travel. This fair is one of the strategies towards providing additional access to our services and products.
"It also provides an opportunity to interact directly with current and prospective customers and get to know their expectations and opinions on our various products and services," he told reporters after launching the fair here.
Fernandes also expects ticket sales from the fair to contribute positively to the group's earnings for the first quarter ending March 31, 2014.
Customers at the fair get a 20% off seats booked on all flights for the duration of the travel fair for the travel period of March 1 until Sept 30, 2014.
Fernandes also announced free travel flight insurance of up to RM15 on return flight for all nurses in Malaysia, effective today, and for a month.
Meanwhile, on the progress of the klia2, he said the airline is leaving the matter to the regulator to handle.
"Even if the klia2 is delayed (the launch), I think it will not affect our business, as we have our own plans and will keep moving forward," he added. - Bernama
Thursday, 27 February 2014
KUALA LUMPUR: IHH Healthcare posted earnings of RM631.16mil in the financial year ended Dec 31, 2013 compared with RM750.79mil in FY12 when there were exceptional items.
It said on Thursday its revenue fell 2.9% to RM6.75bil from RM6.96bil. However, earnings before interest, tax, depreciation, amortisation, exchange differences & other non-operational items (EBITDA) increased 6% to RM1.66bil.
"Stripping out one-off effects of the sale of Novena medical suites in 2012, contribution from PLife REIT and exceptional items, the group's underlying operational performance saw strong growth, with revenue up 18% to RM6.75bil.
"EBITDA increased 32% to RM1.5bil and profit after tax and minority interests (PATAMI) rose a significant 70% to RM602.50mil," it said.
IHH Healthcare said the strong revenue and EBITDA performance were due to organic growth of existing operations and ramping up of new hospitals.
It explained that both Mount Elizabeth Novena Hospital and Acibadem Ankara Hospitalachieved positive EBITDA in 2013.
IHH Healthcare also consolidated full 12 months of Acibadem Holdings performance in 2013 compared with 11 months in 2012 when the group acquired Acibadem Holdings on Jan 24, 2012.
It added the group recovered about RM22mil in relation to prior year tax and investment tax allowances of RM22.9mil to offset the incremental depreciation and finance costs from three new hospitals in Singapore and Turkey upon completion of construction in 2012.
In the fourth quarter ended Dec 31, 2013, it posted net profit of RM230.10mil, up 47% from RM156.51mil a year ago. Its revenue rose 16.5% to RM1.78bil from RM1.527bil. Earnings per share were 2.83 sen compared with 1.94 sen.
IHH Healthcare also announced a dividend policy of no less than 20% of the group's PATAMI excluding exceptional items. It recommended a first and final single tier cash dividend of 2.0 sen for FY13.
Wednesday, 26 February 2014
KUALA LUMPUR: AirAsia Bhd's earnings fell 53.9% to RM364.07mil in the financial year ended Dec 31, 2013 from RM789.61mil a year ago due to higher finance costs and foreign exchange losses on borrowings.
The low-cost carrier said on Wednesday its revenue rose 4.9% to RM5.189bil from RM4.946bil. Operating profit was flat at RM1.021bil compared with RM1.027bil.
However, in FY13, its impacted by higher finance costs of RM432.37mil compared with RM378.81mil, forex loss on borrowings of RM385.33mil, which was a contrast against the forex gain of RM145.42mil in FY12.
There was a gain on disposal of Japan AirAsia of RM78.26mil in FY13 while in the previous year, there was again on disposal of Thai AirAsia of RM118.64mil.
AirAsia said in the fourth quarter ended Dec 31, 2013, its earnings fell 19.1% to RM245.35mil (due to forex loss on borrowings of RM39.04mil) from RM303.41mil in Q4, 2012 (where there was a forex gain of RM58.41mil).
Its revenue was flat RM1.354bil compared with RM1.358bil a year ago.
"The catalyst for growth was attributed to the increase in the number of passengers carried which grew 14% on-year to 5.91 million which overtook capacity growth of 10% on-yea. Load factor was at an all-time record high of 85% on-year due to the company's very aggressive load active strategy," it said.
Operating profit was slightly lower at RM315mil compared with RM320.48mil a year ago.
Tuesday, 25 February 2014
Wednesday, 19 February 2014
Putrajaya needs to review aviation policies as it can't afford to spend taxpayers' money on loss-making Malaysia Airlines (MAS) which bled RM1.2 billion last financial year, said Tan Sri Tony Fernandes (pic).
The founder of AirAsia added that he was “shocked” at the amount of losses suffered by MAS.
“The whole aviation industry needs a relook,” he told The Malaysian Insider by phone today.
Saying that the industry’s policies and airline management need to shape up, Fernandes said that MAS and Malaysia Airports Holdings Berhad (MAHB) have to start churning profits to avoid burdening taxpayers.
“My point is that if you’re running a private company, could you afford to cut 16% of your costs and still lose RM1 billion?” he asked.
“It’s only because there’s taxpayers' money that one can afford to do that. And this isn’t solving the issue,” he added.
Yesterday, MAS had reported its fourth straight quarterly loss for 2013 and chalked up RM1.17 billion in losses for the year – three times as much as in 2012.
The state-owned carrier has been implementing cost-cutting measures to cut its expenses such as axing several routes and introducing lower ticket fares to increase its load.
However, the airline is also awaiting government approval to purchase 100 Airbus and Boeing passenger aircraft that would amount to several billion ringgit.
A Reuters report said that the airline’s decision to spend on newer aircraft is to boost profitability and retire its older, less fuel-efficient aircraft.
Fernandes, meanwhile, criticised MAS and MAHB’s continued spending and losses.
“It’s supposed to be profit-making. This just hurts decent players in the business when they’re spending like there’s no tomorrow,” said Fernandes.
According to MAS’s website, the carrier has 88 aircraft in its fleet, including Airbus A330s and A380s, and Boeing 777-200s and 737s.
The airline’s expenditure also went up by 10% last year to RM14.9 billion year-on-year due to high fuel prices.
MAS posted its highest ever loss in history when it recorded RM2.52 billion nett loss in 2011. The company , however, managed to narrow its losses to RM433 million in 2012. – February 19, 2014.
PETALING JAYA (Feb 19, 2014): AirAsia Bhd will launch direct flights connecting Kuala Lumpur to Kalibo, the Philippines, from April 18, 2014.
In a press statement yesterday, it said the new four times weekly route to Kalibo will operate every Monday, Wednesday, Friday and Sunday, marking AirAsia's third Filipino destination with direct flights available from Kuala Lumpur, Miri and Kota Kinabalu.
AirAsia CEO Aireen Omar said the Philippines is an emerging market for the low cost carrier to capture, especially with the presence of the group's affiliate, AirAsia Zest in the Philippines connecting communities domestically with low fares.
Kalibo is the capital of Aklan province and is known as the gateway to the beach paradise island of Boracay in the Philippines.
Monday, 17 February 2014
Sunday, 16 February 2014
The Employees Provident Fund (EPF) has declared a dividend rate of 6.35% for the financial year ending December 31, 2013, an increase of 0.20% from the previous year, making it the biggest ever payout to its members, the pension fund announced today.
A total RM31.20 billion dividend payout will be made, up 13.66% over the RM27.45 billion for 2012 declared last year.
EPF chairman Tan Sri Samsudin Osman attributed the increase to the fund's prudent investment strategies and improving performance in the past five years.
"Over the years, we have been diversifying our portfolio, thereby spreading out the scope of our assets to manage market risks and generate consistent returns," he said in a statement today.
“Our achievements reflected the effectiveness of a balanced and diversified fund. 2013 was a very good year for our equity investments while the year before that showed us faring better in the fixed income portfolios. By having a diversified portfolio across many markets, we are able to take opportunities when they arise and reduce the overall risk to the fund.
"However, we remain cautious for the coming year as volatility in interest rates may possibly affect our returns, given that EPF funds are predominantly invested in low risk fixed income instruments. Additionally, we anticipate substantial volatility in emerging markets as liquidity tightens globally,” added Samsudin.
The 2013 dividend can be viewed on the EPF’s Facebook page or on its Twitter account, KWSPBuzz as well on YouTube.
EPF account statement for the crediting of the 2013 dividend is now available online via i-Akaun at myEPF website (www.kwsp.gov.my). Members may also get their EPF account statement from EPF Kiosks and branches, starting this Monday. – February 16, 2013.
Friday, 14 February 2014
Wednesday, 12 February 2014
Sunday, 9 February 2014