Trading in MAHB shares halted pending material announcement

KUALA LUMPUR: Bursa Malaysia Bhd has approved Malaysia Airports Holdings Bhd’s request for a trading suspension pending a material announcement.

In a filing to Bursa Malaysia, the airports operator stated the request for suspension in the trading of all the company’s securities, effective from 9 am to 5 pm on Wednesday.

MAHB shares were last traded at RM10.40 per share.

For context, the privatisation of MAHB, one of the world’s largest airport operators, has recently resurfaced, with reports suggesting that MAHB could be privatised by its major owners before a stake sale to the private equity firm Global Infrastructure Partners (GIP).

Khazanah Nasional Bhd and Employees Provident Fund (EPF) hold 33.2 per cent and 7.0 per cent of MAHB, respectively.

A news report indicated that a 30 per cent share in MAHB would then be sold to GIP, an infrastructure investment vehicle that invests in equities and selected debt.

The company’s request for trading suspension followed news of the appointment of Mohamed Rastam Shahrom as the next group chief executive officer (CEO), after seven months of serving as acting group CEO.

Mohamed Rastam was appointed as MAHB’s acting group CEO on October 25 last year, after Datuk Seri Iskandar Mizal Mahmood stepped down from his role as managing director at the end of his two-year contract a day prior.

Last month, a report emerged regarding MMC Corp selling its holdings in MMC Ports to GIP; however, the proposal was withdrawn after GIP backed out of its bid due to the parties failing to reach an agreement on a price for the stake.

The Ministry of Transport (MOT) commented on the issue, stating that the ministry has no objections if MMC Corp Bhd plans to divest its 49 per cent stake in MMC Ports Holdings Bhd, even to foreign entities.

However, its minister, Anthony Loke emphasised that issues concerning concessions and the ownership status of the nation’s key asset need to be scrutinised.

He further added that the decision to sell equity interest is a corporate matter and lies within the company’s purview. – BK