MAHB To Remain As ISG Airport Operator
November 29, 2017 11:16 AM
From Leslean Arshad
ISTANBUL, Nov 29 (Bernama) -- Malaysia Airports Holdings Bhd (MAHB) intends to maintain its status as the airport operator of the Istanbul Sabiha Gokcen International Airport (ISG) irrespective of its stakeholding in the Turkish airport.
MAHB Managing Director Datuk Badlisham Ghazali said even though MAHB was open to seek a partner for ISG, it was not pressured to divest any stake in its current wholly-owned airport.
He said MAHB was open to any parties interested to take a stake in the airport for the purpose of adding value.
He, however, was non-committal whether MAHB would like to hold a majority stake in ISG in the event of a sale.
"The quantum (of the stake) will depend on the values the partner could bring on the table," he said in a briefing on ISG here Tuesday.
"Our (MAHB) commitment is to remain as airport operator (of ISG)," he added.
It has been reported previously that MAHB might sell a minority stake in ISG.
Badlisham said that MAHB in the past was only holding 20 per cent in ISG but it had been designated with the role as the airport operator.
He also said MAHB was not "interested" in financial instrument investment if it were to sell any stake and currently was comfortable with the capital structure of ISG.
"We want the right partner, right value," he said.
On values the potential partner could contribute to ISG, he said they could be in the areas of airport hotel, duty-free operations and airlines engagement.
Asked if any parties have approached MAHB for any stake, Badlisham said there were nothing formal so far.
"Only at chit-chat level. Our door is open to anyone for proposals and discussions," he added.
Badlisham said MAHB was open to have a single party or consortium as the potential suitor for the partnership agreement.
He said no timeframe would be fixed for a stake sale in ISG.
"We are not in a hurry at all," he said.
On another note, Badlisham said MAHB would be reviewing potential equity participation in two overseas deals in three years' times.
He said MAHB was keen to review potential overseas deals in the Middle East, Europe, Southeast Asia and South America.