MMAG
Mmag Holdings Berhad
Company Background
MMAG Buys Aircraft for RM20 mil to Expand Air Cargo Capacity
MMAG Holdings Bhd (KL:MMAG), which is involved in the sales of digital devices and logistic services, said on Tuesday it has acquired a Boeing B737-400SF aircraft from Japan-based JPA No 161 Co Ltd for US$4.61 million (RM20.76 million) cash.
The ACE Market-listed firm said its cargo unit MJets Air Sdn Bhd entered into an instalment sale agreement with JPA to purchase and take delivery of the converted freighter, according to its filing.
JPA is a wholly owned subsidiary of JP Lease Products & Services Co Ltd (JLPS), one of the largest independent arrangers of tax leases in the Japanese market.
This acquisition increases the group's fleet size to seven aircraft, from the current six leased aircraft.
“With a target fleet of 13 aircraft by the end of 2025, this expansion addresses the overwhelming demand for air cargo services, which has outpaced our current capacity,” MJets chairman Woo Kam Weng said in a statement.
“Due to limited aircraft availability, we have been unable to accept new bookings or charters, making this acquisition critical for meeting growing customer demands, enhancing service reliability, and delivering greater value to our stakeholders,” Woo said.
The total payment will be made in three tranches, with an initial payment of US$750,000 upon signing of the agreement, instalment payments totalling US$3.11 million over 23 months from the delivery date, and a final payment of US$750,000 on the contractual expiry date.
MMAG said the payment will be funded via a combination of internally generated funds and proceeds from the group’s convertible securities exercise. As at end-September, MMAG’s cash stood at RM66.41 million, while its borrowings totalled RM349.6 million.
“Barring any unforeseen circumstances, the agreement is expected to be completed in fourth quarter of the year 2026,” the filing said.
MMAG just in November was granted a waiver by Bursa Securities from being classified as an affected listed company under Guidance Note 3 (GN3). The company fell into GN3 after its shareholders equity fell below 50% of issued share capital in the year ended March 31, 2023 (FY2023).
At the time of writing, shares of MMAG were traded unchanged at 41.5 sen, valuing the group at RM947.09 million. The counter has surged over 300% year-to-date.
$MMAG / 0034 (MMAG HOLDINGS BERHAD)
Source: The Edge
MJETS AIR ACQUIRES ITS FIRST OWNED FREIGHTER, EXPANDING FLEET TO SEVEN TO MEET SOARING DEMAND
$MMAG / 0034 (MMAG HOLDINGS BERHAD) #MJetsAir #Boeing #JPA No.161 Co., Ltd
MMAG 航空财团与领军全球单位负载装置外包管理公司 Unilode Aviation Solutions 缔结合作伙伴协议
$MMAG / 0034 (MMAG HOLDINGS BERHAD) #MAC #Unilode #ULD
1/3
MMAG AVIATION CONSORTIUM UMUM KERJASAMA DENGAN UNILODE, PENERAJU GLOBAL DALAM PENGURUSAN PERANTI MUATAN UNIT
$MMAG / 0034 (MMAG HOLDINGS BERHAD) #MAC #Unilode #ULD
1/3
MMAG AVIATION CONSORTIUM PARTNERS WITH UNILODE AVIATION SOLUTIONS, GLOBAL LEADER IN ULD OUTSOURCING MANAGEMENT
$MMAG / 0034 (MMAG HOLDINGS BERHAD) #MAC #Unilode #ULD
1/3
SEPANG: MMAG Holdings Bhd stated that it is not experiencing any cash flow issues or financial distress, despite triggering Paragraph 2.1(g) of Guidance Note 3 (GN3) of the ACE Market listing requirements.
SEPANG: MMAG Holdings Bhd has clarified that it is neither facing financial distress nor experiencing cash flow problems, despite being categorised as a Guidance Note 3 (GN3) affected listed issuer.
© New Straits Times Press (M) Bhd
KUALA LUMPUR: MMAG Holdings Bhd will submit an application for a waiver from being classified as an affected listed issuer after it triggered the Guidance Note 3 (GN3) criteria.
© New Straits Times Press (M) Bhd
KUALA LUMPUR: MMAG Holdings Bhd said it is now classified as a Guidance Note 3 (GN3) status company after triggering Paragraph 2.1(g) of GN3 of the ACE Market listing requirements of Bursa Malaysia Securities.
KUALA LUMPUR: MMAG Holdings Bhd said it has triggered Paragraph 2.1(g) of Guidance Note 3 of the ACE Market listing requirements of Bursa Malaysia Securities.
Additional Listing Announcement /Subdivision of Shares
OTHERSCARGO INTERLINE AGREEMENT WITH TELEPORT EVERYWHERE PTE LTD
Additional Listing Announcement /Subdivision of Shares
TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONSSHARES SALE AGREEMENT
Additional Listing Announcement /Subdivision of Shares
TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONSSHARES SALE AGREEMENT
Additional Listing Announcement /Subdivision of Shares
Additional Listing Announcement /Subdivision of Shares
Additional Listing Announcement /Subdivision of Shares
$NOTION / 0083 (NOTION VTEC BERHAD)
$MMAG / 0034 (MMAG HOLDINGS BERHAD)
$SCGBHD / 0225 (SOUTHERN CABLE GROUP BERHAD)
$PEKAT / 0233 (PEKAT GROUP BERHAD)
$SSB8 / TEMP01 (SOUTHERN SCORE BUILDERS BERHAD)
$CHGP / 7187 (CHIN HIN GROUP PROPERTY BERHAD)
Additional Listing Announcement /Subdivision of Shares
Additional Listing Announcement /Subdivision of Shares
KUALA LUMPUR: Two former directors of MMAG Holdings Bhd are facing charges related to alleged dishonest misappropriation of property.
© New Straits Times Press (M) Bhd
OTHERSFormer executive directors of MJets Air Sdn. Bhd. (formerly known as M Jets International Sdn. Bhd.), a subsidiary company of MMAG Holdings Berhad, charged under Section 403 of the Penal Code (Act 574)
Quarterly rpt on consolidated results for the financial period ended 31/03/2024
Additional Listing Announcement /Subdivision of Shares
Additional Listing Announcement /Subdivision of Shares
$MMAG / 0034 (MMAG HOLDINGS BERHAD)
Titan Trading Notes For Tuesday [14/5/2024]:
$KLSE-KLCI had a decent rebound today, closing green around the 1602 points region with an overall positive market sentiment. Daily trading volume remained decent around the 4.5 billion mark.
Main stocks that showed strong buying momentum would be the likes of MMAG, MYEG, SENDAI, AWANTEC, MI, REVENUE, JIANKUN, EWINT, KNM, GENM, IOIPG, SFPTECH, GENTING, and SEALINK. All of which were able to sustain their rallies throughout the day on the top volumes list.
$MMAG / 0034 (MMAG HOLDINGS BERHAD) was definitely the main star for the day as it managed to breakout strong from its RM 0.215+ major resistance levels and rallied all the way towards the RM 0.375 levels with huge volume and buying momentum here.
For now looking very strong and seems to be in the midst of a parabolic rally. If able to sustain this kind of buying momentum, could continue on towards the RM 0.40+ regions in the coming week.
Will monitor MMAG closely but I have to caution that trading this stock will come with very high levels of risk as there is no visible support level at the moment.
$SENDAI / 5205 (EVERSENDAI CORPORATION BERHAD) on the other hand also not showing any signs of slowing down here as it was ale to breakout all the way towards the RM 0.785 regions with huge volume and buying momentum despite being overbought on the daily chart.
For now looking very strong and is definitely on a parabolic rally here. As long as able to sustain above its RM 0.70+ immediate support levels, could continue on towards and beyond the RM 0.80+ regions soon.
Will monitor SENDAI closely but also have to caution on the higher levels of risk when entering at such a high price point.
ADB since breaking out towards the RM 1.04 regions to form its new high, had been retracing over the past month here without much volume and action, forming a solid support around the RM 0.955+ levels.
Recently, it was able to rebound quite well and today, was even able to test its RM 1 resistance levels. For now, it's looking quite healthy here and if able to form a higher low base, could continue to wards and beyond its RM 1.04 all time high levels for an uptrend continuation pattern.
Will be monitoring ADB closely
$SIGN / 7246 (SIGNATURE INTERNATIONAL BERHAD) since breaking out towards the RM 1.51 regions, had been consolidating over the past few trading days and formed a solid base around its RM 1.43+ immediate support levels on the hourly charts.
For now looking quite strong here as it was able to breakout back towards the RM 1.50 regions today with good volume and buying momentum. As long as able to keep this kind of buying momentum, could continue on towards the RM 1.60+ regions soon here.
KUALA LUMPUR: MMAG Holdings Bhd's subsidiary MMAG Aviation Consortium Sdn Bhd (MAC) has formed a partnership with Supreme Global Holdings (Private) Ltd to jointly explore opportunities in the aviation industry in Sri Lanka.
© New Straits Times Press (M) Bhd