KUALA LUMPUR, May 6 — Businessman Tan Sri Desmond Lim is said to be planning a takeover of Subang Airport worth RM3.7 billion.
News portal The Vibes reported today that Lim — the largest shareholder in his listed construction and property development group WCT Holdings Bhd — will use its subsidiary company Subang Skypark Sdn Bhd (SSSB) to acquire and operate the airport until 2092.
Lim acquired a 60 per cent stake in SSBB in 2018 after buying over shares previously held by Tan Sri Ravindran Menon and his partner Datuk Aisamar Kadil Mydin Syed Marikiah for an undisclosed sum, with the intentions of redeveloping the land surrounding Sultan Abdul Aziz Shah Airport in Subang.
According to The Vibes, this new proposal was presented to the Transport Ministry at an estimated RM3.7 billion of initial investment, of which RM1.7 billion will be for the passenger terminal and executive jet terminal set to open in 2027. The remaining RM2 billion will be spent over the next 10 years on the airport city.
Apart from paying compensation to current owners Malaysia Airports Holdings Bhd and to overhaul specialist Airod Sdn Bhd for vacating the airport, SSBB has proposed that other users of the airport, such as the Royal Malaysia Police and Royal Malaysian Air Force, can continue to use it.