Sky One

Sky One: 3QFY14 net loss contracted to HK$1.2m from HK$51.4m on higher gross profit margin as a result of the value-added services such as packaging provided by the Airfreight division. Meanwhile, revenue grew 9.4% to HK$55.6m on higher volumes and ASP at the express land transport and coal logistics divisions, which was partially offset by the decrease in market prices from the airfreight division. Group updated that the due diligence for the proposed acquisition of Energy Prima Pte Ltd is in progress, with reports on the coal reserves, value, financials and other material matters are being prepared and reviewed. The acquisition is subjected to Sky One's disposal of its existing business to Dicky Suen, the controlling shareholder and CEO.