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Board revamp at MAHB?
by hlk Fri 12 Aug 2011, 12:41
Changes said to be coming gradually
PETALING JAYA: A revamp of the boardroom of Malaysia Airports Holdings Bhd (MAHB) is next after the airline industry in Malaysia underwent substantial change with a share swap agreement between Malaysia Airlines (MAS) and AirAsia Bhd.
Sources indicate changes are afoot at MAHB but it would be more gradual than the wholesale changes seen at MAS following the blockbuster deal between Khazanah Nasional Bhd and Tune Air Sdn Bhd.
The idea behind the move to make changes to the board of MAHB is to infuse new blood and realign the interest of the shareholders by bringing people from diverse backgrounds and disciplines.
“It is common to bring in new people. It is a way to help push the industry forward but it would not have impact on management,” said a source.
Talk of changes at the operator of airports in the country comes just days after the MAS board was revamped following the purchase of a 20.5% stake in MAS by AirAsia's founding members.
Both Tan Sri Tony Fernandes and Datuk Kamarudin Meranun now sit on the board of MAS. Following the share swap agreement between the two major domestic airlines, six board members resigned and six new persons, including Fernandes and Kamarudin, were appointed.
Khazanah Nasional is the single largest shareholder in both MAS and MAHB.
Khazanah has declined comment on talk of changes at board level at MAHB. The airline operator, which manages 39 airports including KL International Airport, has 11 board members.
Both MAHB and AirAsia have had public clashes in the past over difference of opinion regarding how operations at airports that are plied by AirAsia should be handled.
As a company, MAHB has been recording positive growth in the past few years. Its share price, once hovering at the RM2 range, had been rising and closed at RM6.18, down one sen, in yesterday's closing.
The company reported a 37% rise in net profit to RM81.9mil or 7.45 sen per share for the second quarter ended June 30, 2011 and revenue was up 25% to RM654mil.
The improvement in MAHB's financials was led by the higher passenger and commercial revenues and a drop in financing expenses
PETALING JAYA: A revamp of the boardroom of Malaysia Airports Holdings Bhd (MAHB) is next after the airline industry in Malaysia underwent substantial change with a share swap agreement between Malaysia Airlines (MAS) and AirAsia Bhd.
Sources indicate changes are afoot at MAHB but it would be more gradual than the wholesale changes seen at MAS following the blockbuster deal between Khazanah Nasional Bhd and Tune Air Sdn Bhd.
The idea behind the move to make changes to the board of MAHB is to infuse new blood and realign the interest of the shareholders by bringing people from diverse backgrounds and disciplines.
“It is common to bring in new people. It is a way to help push the industry forward but it would not have impact on management,” said a source.
Talk of changes at the operator of airports in the country comes just days after the MAS board was revamped following the purchase of a 20.5% stake in MAS by AirAsia's founding members.
Both Tan Sri Tony Fernandes and Datuk Kamarudin Meranun now sit on the board of MAS. Following the share swap agreement between the two major domestic airlines, six board members resigned and six new persons, including Fernandes and Kamarudin, were appointed.
Khazanah Nasional is the single largest shareholder in both MAS and MAHB.
Khazanah has declined comment on talk of changes at board level at MAHB. The airline operator, which manages 39 airports including KL International Airport, has 11 board members.
Both MAHB and AirAsia have had public clashes in the past over difference of opinion regarding how operations at airports that are plied by AirAsia should be handled.
As a company, MAHB has been recording positive growth in the past few years. Its share price, once hovering at the RM2 range, had been rising and closed at RM6.18, down one sen, in yesterday's closing.
The company reported a 37% rise in net profit to RM81.9mil or 7.45 sen per share for the second quarter ended June 30, 2011 and revenue was up 25% to RM654mil.
The improvement in MAHB's financials was led by the higher passenger and commercial revenues and a drop in financing expenses
hlk- Moderator
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