No foreign ownership, govt to retain full control of MAHB, says Finance Ministry

July 4, 2024

No foreign ownership, govt to retain full control of MAHB, says Finance Ministry

KUALA LUMPUR: The government will retain full control of Malaysia Airports Holdings Bhd (MAHB), says Datuk Seri Amir Hamzah Azizan.

“The management of MAHB will not be taken over by foreigners. MAHB will continue to be controlled by the government, in terms of ownership, management and security aspects,” the Finance Minister II said during his ministry’s explanation in the Parliament special chambers on Wednesday (July 3).

He said a consortium of companies, led by Khazanah Nasional Bhd and the Employees Provident Fund (EPF), will acquire the remaining 59% stake in MAHB, which is owned by various investors.

He said the intention is to delist MAHB and for the consortium to have 100% ownership of MAHB.

“This means the consortium is not selling its stake but is instead buying MAHB shares.

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“Hence, the issue of Khazanah selling MAHB’s shares to foreign investors does not arise,” he said.

“The government will continue to hold ‘golden shares’ in MAHB. Based on its rights as the golden shareholder, it has the authority to appoint the chairman and managing director of MAHB, both of whom must be Malaysian citizens,” he said.

The government will also continue to have a representative in the MAHB board of directors.

He said the exercise was a strategic move necessary to ensure that Malaysia will not be left behind in the aviation sector.

The other parties in the consortium are New York-based Global Infrastructure Partners (GIP) and Abu Dhabi Investment Authority (Adia). The two companies will own a 30% stake while Khazanah-EPF will own 70% when the takeover is completed.