Tuesday, September 20, 2011

MAHB enters JV to manage airport in China

KUALA LUMPUR: Malaysia Airports Holdings Bhd has entered into a joint venture agreement with Nagamas Enterprise (HK) Ltd to manage the Yongzhou LingLing Airport in China.

It said on Tuesday, Sept 20 ''that its subsidiary Malaysia Airports Consultancy Services Sdn Bhd (MACS) would set up a joint venture company (JV) with Nagamas for the joint provision of airport operation, management and technical consultancy services for the Yongzhou Lingling Airport, as we as other airports in China to be mutually agreed by the companies.

MAHB said the JV would have a registered capital of RMB100,000 divided into 100,000 shares of RMB1 each.

It said MACS would subscribe for 60,000 shares, whilst Nagamas will have the remaining 40,000 shares.

MAHB said the JV was not expected to have any material effect to its earnings for the financial year ending Dec 31, 2011 but would contribute positively to its future earnings.



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