PETALING JAYA: Malaysia Airports Holdings Bhd (MAHB) has signed a concession agreement with WCT Bhd and Segi Astana Sdn Bhd (SASB) for privatisation of the construction, development and financing of the integrated complex at KLIA 2 under a 25-year concession. The construction cost is RM530.3mil which will be funded through a combination of external borrowings by SASB and the balance shall be funded by shareholders equity. SASB is wholly-owned by WCT Land Sdn Bhd, which in turn is a wholly-owned unit of WCT.
Following the concession agreement, MAHB said it would acquire 30% stake in SASB which would have an issued and paid-up capital of RM106.06mil upon the commencement of the commercial operation of the integrated complex, while WCT Land will maintain a 70% interest.
“In consideration of MAHB granting the concession to WCT, SASB will pay MAHB a lease rental.
“In addition, MAHB may be entitled to royalty payments,” said MAHB in a filing with Bursa Malaysia.
Source: starproperty.my