The Nation Newspaper

Tag: ABC Transport Plc

  • NSE pricing methodology has provided liquidity for inactive stocks–Experts

    NSE pricing methodology has provided liquidity for inactive stocks–Experts

    Some financial experts on Monday said that the Nigerian Stock Exchange ( NSE ) amended par-value and pricing methodology has provided liquidity for inactive stocks in the market.

    Dr Uche Uwaleke, Head of the Banking and Finance Department at the Nasarawa State University in Keffi, said that the amended par-value and pricing methodology had improved the liquidity of stocks that could not be sold below 50k before now.

    “Since Jan. 29, when it became effective, a number of stocks, including those of ABC Transport Plc. and some insurance companies, which were hitherto, inactive, have witnessed some transactions.”

    Uwaleke said the new stratification of price movements and price limits had narrowed spreads, “ensuring that only transactions that were material would result in price movements’’.

    He said that the market was now more efficient than before as result of the initiative.

    Similarly, Mr Ambrose Omordion, the Chief Operating Officer of InvestData Ltd., who commended the initiative, said that many companies would start to provide information for the investing public to ascertain the position of any company.

    Omordion said that companies would be compelled to submit their results timely for investors to make wise decisions.

    He said that the new methodology would enforce good corporate governance among quoted companies, in a bid to avoid drastic reduction in their share prices.

    “If you don’t want your stock price to move to 10k, you will get investors see reason why they buy or hold your stock by providing the needed information as and when due, apart from quarterly and full year earnings reports”, Omordion said.

    READ ALSO: 116 quoted companies to fall under one-kobo pricing rules

    The new pricing method started on Jan. 29.

    Mr Abimbola Babalola, NSE Head of Market Surveillance and Investigation, said the new method was “aimed at improving liquidity, narrowing spreads and ensuring that all price-improving transactions had material impact.”

    Babalola said the new rules would effectively remove the current rule which placed minimum allowable price for any stock to trade at its nominal value, irrespective of the market forces.

    According to him, it specifies that stock prices will be determined by market forces of demand and supply as prices can now fall below the initial price floor of 50k to one kobo.

    He said that as a result, stocks would be under new groupings and pricing rules and that price of every share listed on the NSE would be determined by market forces.

    According to him, Group A, shall consist of large-cap equities that are priced at N100 per share or above for at least four of the last six trading months, or new security listings that are priced at N100 or above.

    Group B, shall consist of medium-priced equities that are priced at N5 per share or above, but less than N100 per share for at least four of the last six months, or new security listings priced at N5 per share or above at the time of listing.

    Group C, where majority of listed companies fall, shall consist of equities that are priced at one kobo per share or above, but below N5 per share, or new security listings priced at one kobo at the time of listing on the NSE.

    NAN

  • ABC subsidiary, firm roll out locally assembled trucks

    ABC subsidiary, firm roll out locally assembled trucks

    A subsidiary of ABC Transport Plc, Transit Support Services Limited in partnership with Anambra Motor Manufacturing Company Ltd (ANAMMCO) will officially roll out Shacman trucks from the ANAMMCO plant in Emene Industrial Layout, Enugu, on Thursday.

    The groundbreaking event is billed to attract a host of high profile government functionaries, industrialists and technocrats including Enugu State Governor Sullivan Chime; Minister of Industry, Trade and Investment, Mr. Olusegun Aganga; President, Manufacturers Association of Nigeria (MAN), Dr Frank Jacobs; Director General, National Automotive Council, Aminu Jalal, the Managing Director, Shacman Group, Shaanxi, China, Mr. Wang Gang, and ANAMMCO chairman Sir G. U. Okeke,.

    The resuscitation of ANAMMCO factory by Transit Support Services Limited is in response to the new national automotive policy, and the need to grow domestic automobile capacity and generate employment opportunities in Nigeria.

    Shacman is a brand of the Shaanxi Automobile Group Co. Ltd. China, which has over 45 years of manufacturing experience and remains one of the leading automobile manufacturers in China. Shacman produced the first heavy duty military off-road truck in 1968 and has since inception manufactured over 600,000 vehicles of different varieties, making great contribution to China national defence construction, developing the national economy and adding value to the entire Chinese society.

    Over four decades, Shacman has evolved into one of China’s domestic large-scale automobile enterprise group with over 33,000 employees and is ranked 24 among Chinese top 500 mechanical enterprises.

    Shacman also engages mainly in development, manufacture and sales of off-road vehicles, heavy-duty trucks, medium-duty, large and medium-sized coaches, medium and light-duty trucks, minivan, new energy vehicles, heavy-duty axles, light axles, Cummins engines and automobile components, among others.

    Established in 2007, Transit Support Services Limited, Nigeria, has been behind the success of notable transport operators in the whole of Africa sub-region and is continuously researching for best solutions to enhance cost efficient services in Transport and Logistics Operations. Transit Support Services Limited is dedicated to providing the latest materials, services and technology to the automobile industry through its associates worldwide.

  • Abc Transport acquires new buses for new routes

    Abc Transport acquires new buses for new routes

    The MANAgement  of ABC Transport Plc has acquired 15 new buses for its Sprinter Service operations, as part of its plan to refocus the service and bring it much closer to customers in major locations. This plan was also informed by the increasing demands for the service in other parts of the country, where ABC Transport has not been operating initially.

    Sprinter Service is designed to satisfy the needs of light travellers: passengers who like to travel with little or no luggage, who would rather travel smart on fully air-conditioned 14-seater buses.

    With its compact yet portable size, the normal ABC Sprinter Service bus is best suited to operate in challenging road conditions and finding a way through tricky hold-ups to the benefit of its passengers who might not have to entertain much anxiety or fears of finding themselves stuck or stalled in traffic for too long. Moreover, the Sprinter Service operates scheduled departures, thereby offering passengers early arrivals to their destinations.

    Unlike the typical mini buses deployed by some road transport operators, the ones used by ABC Sprinter Service carry 14 passengers only and boast of more legroom. Keeping in line with the company unrivalled safety policy, only three persons are allowed to sit on a row on the Sprinter buses no cramping of passengers, excess luggage.

    This is aimed at enhancing comfort of passengers while in transit. In addition, Sprinter Service buses are equipped with speed governors enabling the drivers to avoid over-speeding, based on the strict safety standards for which ABC Transport is known.

    Although ABC Sprinter Service has mainly operated in Lagos, Abuja, Owerri, Calabar, Uyo and Port Harcourt, its services will now be available in most of the ABC terminals across the country. With the injection of the 15 new buses into the existing fleet, Sprinter Service will henceforth service customers in Enugu, Onitsha, Jos, Kaduna, Ikorodu, Onitsha, Gwagwalada, Aba, Awka, Ibadan, Umuahia, Lokoja, and Orlu. Plans are underway to set up new outlets in Port Harcourt and Enugu, to bring Sprinter Service much closer to customers living in those cities.

    On ABC Corpers Rebate, National Youth Service Corps members are entitled to a N500 discount on fare every time they travel with the Sprinter Service.

    Still expanding its fleet size, ABC Shuttle Service, a short distance fully air-conditioned intercity service, will be taking delivery of ten 10 new buses. This is to enable the service meet the surge in traffic anticipated during the peak operations in December. ABC Shuttle Service mainly operates in Owerri, Port Harcourt, Calabar, Enugu, Awka, Onitsha, Umuahia, Uyo and Warri.

  • ABC expands operations

    ABC Transport Plc has commenced the year with an integrated re-fleeting programme. For its haulage operations, a total of 80 trucks have been ordered.

    The first set of 16 trucks has since been taken delivery of, while the balance is due for delivery before the end of February. For passenger operations, 10 new coaches and 16 midi-and mini-buses are due for delivery between the first and second quarters of the year. In addition, ABC Cargo Express will get 13 new trucks to enhance its ever-expanding operations.

    Plans are underway to commemorate the company’s flagship service, Coach West Africa, on its tenth year of revitalising travel and tourism in the west coast of Africa

    ABC hailed its customers for keeping faith with them in the just-concluded operation last year.

    ABC Group Head, Passenger Operations and Logistics, Mr Ifeanyi Izuka expressed satisfaction with the manner the travellers comported themselves during the peak periods.

    According to him, “the level of maturity and understanding exhibited by ABC customers amid all the hectic operations was very impressive.”

    He said the company witnessed a most challenging operation induced by high traffic surge in both passenger and cargo operations, from late November last year to early January.

    The company hailed the Federal Road Safety Corps (FRSC) and other paramilitary operatives for the diligence exhibited during the peak periods.

    “The traffic controls, patrols and swift response to emergencies, all helped in no small measure to prevent numerous road-related accidents and hold-ups that usually characterise ember months,” Izuka said.