A-Sonic

A-Sonic: 4Q13 net profit turned around y/y to US$0.2m from loss of US$2m mainly from an upward adjustment on fair value of the remainder of the investment retained in GSA, its air cargo management services. Revenue declined 20% to $61.9m on the back of lower volume from the logistics business (-20%) in the North Asia markets, partially mitigated by contribution from aircraft leases (+64%). No dividends declared.