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Malaysia Airlines selects SunGard's Kiodex

09 May 2007  |  850 views  |  0 Source: SunGard

SunGard today announced that Malaysia Airlines has chosen SunGard's Kiodex to help it better manage earnings volatility due to changes in fuel prices.

Kiodex Risk Workbench provides consumers of energy, such as airlines, with a business process to help manage energy-price risk, design financial strategies and comply with best practice financial reporting and accounting policies. Kiodex Risk Workbench is a Web-based commodities risk management solution that integrates deal capture, valuation models, risk measurement, financial reporting, and independent market data that includes representative prices, volatilities and volatility skews across the spectrum of commodity markets.

Azmil Zahruddin, executive director and chief financial officer of Malaysia Airlines said, "With Kiodex, SunGard provides a single solution for pricing, ongoing valuation, and financial reporting. Kiodex's provision of independent trade pricing is expected to help us reduce our execution costs, and the cash flow-at-risk forward looking models will help us to improve the effectiveness of our fuel hedging portfolio in meeting our risk management objectives."

Ben Jackson, chief operating officer of SunGard's Kiodex business unit, said, "We are pleased to have Malaysia Airlines as a customer in Asia, working with our team in Singapore and Tokyo. A key feature for our airline customers around the globe is the level of price transparency that the Kiodex Risk Workbench provides with its valuation models and independent market data. Kiodex helps traders to price trades independently, without relying solely on counterparty information, thereby helping them save money on execution."

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