MAHB registers record profit after tax of RM727.3 mil for FY18

SEPANG: Malaysia Airports Holdings Berhad (MAHB) recorded a stellar financial performance for FY18 when it recorded a profit after tax of RM727.3 million — a 202.6% increase compared to the preceding year.

MAHB chairman Zainun Ali attributed the strong results to the value creation process developed not only in FY18 but also in previous years.

She spoke after the company’s 20th annual general meeting here today.

The company paid out a dividend of 14 sen for FY18 which translated to a payout ratio of 52% from profit after tax.

MAHB is looking to undertake major asset replacement exercises for its two ageing assets — the baggage handling system (BHS) and aerotrains at the Kuala Lumpur International Airport (KLIA).

It also plans to increase the capacity at KLIA’s main terminal.

The company is also looking at implementing its commercial reset strategy aimed at facilitating the growth of retail partners and optimising revenue from rental yield.

MAHB’s Subang regeneration initiative will witness the transformation of Subang into a vibrant city airport that serves as a hub for business aviation coupled with a comprehensive aerospace ecosystem.

The government recently extended the operating agreement of the airport operator till the year 2069. Currently, MAHB manages 39 airports in the country.

“We are committed not only to deliver but to excel in fulfilling our responsibilities to the government, partner airlines and passengers.

“We are also looking forward to the proposed implementation of the Regulatory Asset Based Framework by Malaysian Aviation Commission (Mavcom) as it will enable us to obtain fair returns on any capital investments that we make to improve airport facilities and infrastructure,” said MAHB group CEO Raja Azmi Raja Nazuddin.

The shareholders of the company approved all resolutions tabled during the AGM.