Malaysia Airports Holdings Bhd (MAHB) has submitted to the government a comprehensive and strategic plan for the airport’s long-term development, which would entail an infrastructure investment of RM300 million over the next five years.
MAHB) is now ready to undertake the regeneration plan for Sultan Abdul Aziz Shah Airport (SAAS), which also known as the Subang Airport, reported Bernama
“The plan requires infrastructure investment of RM300 million staggered over the next five years, and this is well within our capability as we still have a strong cash and money market position of RM1.6 billion with RM914 million available for the Malaysian operations,” said MAHB Group CEO Datuk Mohd Shukrie Mohd Salleh as quoted by Bernama.
Have a question about the property market? Post them on AskGuru and let our experts help you!
He shared that the funding for ready-built or build-to-suit facility can be facilitated via a combination of project financing options and internal cash.
“Despite the pandemic, we retain credit ratings of AAA by RAM Ratings and A3 by Moody’s Investors Service, which is on par with Malaysia’s country credit ratings,” he added as quoted by Bernama.
Verified through extensive benchmarking as well as stakeholder engagements, the regeneration plan is premised on three focus areas – business aviation, aerospace ecosystem and urban community airport.
MAHB noted that the plan is meant “to propel SAAS to become the preferred aerospace and business aviation hub in Asia Pacific in the next five years”.
Since receiving the mandate to develop SAAS into an international aerospace park in 2005, MAHB has grown the ecosystem by four times, attracting 60 leading brand names, while facilitating over RM500 million in capital inflows, said the Group CEO.
“Currently, there are over 35 local aviation operators, more than half of them bumiputra companies,” he said.
He noted that the regeneration plan for Subang airport would see the ecosystem grow further by three times, doubling the number of local and global operators to over 100, which will support a 19,000-strong high skilled workforce.
It is also expected to contribute more than RM10 billion to the national economy, helping Malaysia transition to high technology and high-income nation.
Check out these latest project reviews today! Or read our helpful Guides to learn all about the various property buying, selling and renting tips!
