KUALA LUMPUR (Jan 31): The gradual turnaround in Malaysia Airlines Bhd's fortunes bodes well for Brahim's Holdings Bhd as the former remains a key contributor to the group, said Hong Leong Investment Bank Research (HLIB Research). In a statement today, the research house said Malaysia Airlines' load factor rose to 90% on Dec 16, bringing its fourth quarter for financial year 2016 (4QFY16) figure to 82%. "Additionally, Malaysia Airlines plans to launch 11 new routes to China in 2017," the research house said. The research house said Brahim's catering arm continues to look for catering contracts aside from airlines to diversify away from airlines as its main source of revenue. The tie up between Brahim's and Singapore-based SATS Investments Pte Ltd has yielded significant synergies to the group, said the research house.

Source: The Edge Markets January 31, 2017 03:56 UTC