KUALA LUMPUR, Feb 3 —The Ministry of Transport has granted a 35-year extension to Malaysia Airports Holdings Bhd’s (MAHB) operating agreement for KL International Airport (KLIA) and other designated airports.
In a filing to Bursa Malaysia today, MAHB said, the Cabinet approved the extension on December 21, 2016.
The original operating agreement, signed by MAHB, Malaysian Government and Malaysia Airports (Sepang) Sdn Bhd, on February 12, 2009, was for a period of 25 years, it said.
“With the approval, MAHB has been given an additional period of 35 years, from the existing 25 years to 60 years,” it said.
MAHB said following the extension, a negotiation committee, comprising representatives from the Ministry of Finance, MAHB and other relevant government agencies will be set up to negotiate the relevant new terms and conditions.
“The committee will be chaired by the Ministry of Transport. The relevant new terms and conditions will be submitted to the Cabinet for consideration and approval accordingly,” it said. — Bernama
