Revamp of MAHB nearly done

Hyderabad: Malaysia Airports Holdings Bhd (MAHB) expects the Government to finalise the group’s restructuring plan by year-end, chairman Tan Sri Dr Aris Othman said.
“Negotiations have been completed and we hope to hear from the Government as soon as possible. We hope it (the completion of the restructuring plan) would be this year,” he told reporters beforethe opening of the Rajiv Gandhi International Airport (RGIA).
MAHB, in which Khazanah Nasional Bhd holds nearly 73% stake, is in the midst of restructuring accrued payments of about RM790mil the airport manager owes the government.
The finalisation of the restructuring plan has dragged on for at least two years.
The payment accrued is said to be due to certain operational issues such as landing charges that differ from that in the original master plan drafted in 1993, hence the group could not meet its financial commitments.
15/03/08 Kathy Fong/Malaysia Star, Malaysia

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Categories: Airports Mar 2008, Foreign Mar 2008