Malaysia’s US$4 billion e-commerce market is attracting a US-based investor to Malaysia who has been buying shares in PDZ Holdings Bhd, which is involved in the container liner business.
The market is hot with news that PDZ has attracted a global e-commerce operator from the United States who has been buying up shares in the company since last June. This is perhaps to take a share in the e-commerce business in Malaysia and partner with PDZ to move the goods bought online.
While there is no real information who the operator is, we would like to mention that the world’s top operators, and the largest in the United States are Amazon and eBay.
We believe the US-based operator has been buying shares in large quantities in PDZ which explains why the share has moved up by more than three times from its price last week, when it was hovering around 7.
PDZ’s share price rose as much as 155.5 per cent or 14 sen to 23 sen on Wednesday (July 8), as trading volume surged to a record high.
The stock settled at 20.5 sen, or 11.5 sen when the market closed for trading for the day. On Tuesday, the stock closed 9 sen, giving it a market capitalisation of RM181.75 million.
What was amazing was that PDZ saw some 1.33 billion shares traded for the day, and it was the most active stock on Bursa Malaysia.
PDZ, which operates six vessels that cover domestic and regional trade between Malaysia, Brunei, Singapore and Myanmar has been active in the market the whole of this week.
Earlier we had news that PDZ had won a RM600 million logistics contract from an e-commerce platform operator in China.
The names that have come up include 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.
