SEPANG (Nov 1, 2013): Malaysia Airports Holdings Bhd (MAHB) is keen to bid for new airport projects in the Middle East, Myanmar and the Philippines, said its CFO Faizal Mansor.
"We are already in India and we'll make further investments there. We're also looking at (airport projects in) the Middle East as well as Asean countries like Myanmar and the Philippines," he told a news conference here yesterday.
"China, however, despite having a big number of airports and is undertaking privatisation at a very fast pace, I don't think we're ready for (airport projects there) yet. Language barrier is one of the issues," he said.
The airport operator reported a slight drop in net profit to RM112.8 million for the third quarter ended Sept 30, 2013 (Q3FY13) from RM113.1 million a year ago, dampened by higher cost due to higher user fee.
Revenue, however, grew 29% to RM972.7 million from RM754.3 million.
"Previously, the amount of user fee that has been recognised in the income statement represents half of the total user fee payable to the government, while the other half is to reduce the amount due for balance residual payment arising from MAHB's restructuring exercise," said Faizal.
Upon the full settlement of balance residual payment in April 2013, the user fee is now fully recognised in the income statement.
For the first nine months this year, MAHB net profit increased 8% to RM340.6 million from RM316.5 million a year ago, while revenue rose 34.2% to RM2.9 billion from RM2.2 billion.
Revenue generated by airport operations segment improved by 14.7% to RM1.7 billion, mainly driven by aeronautical revenue which had improved by 18.6% on the back of strong increase in passengers and aircraft numbers.
Globally, the air travel demand for international and domestic segments registered 5.2% and 4.8% year-on-year growth respectively.
Faizal said MAHB continues to benefit from the entry of new airlines and expansion of local carriers such as Malaysia Airlines, AirAsia and Malindo Air.
In August, the total passengers handled by MAHB surpassed the 7 million mark for the first time, being the highest passenger movement achieved in a month.
Going forward, Faizal said the seat capacity offering for Q4FY13 remains buoyant as holiday season is approaching towards the end of the year.
Source: http://www.news.myanmaronlinecentre.com/2013/11/01/mahb-eyes-projects-in-middle-east-asean/
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