GDA stands firm on RM11 offer for MAHB despite directors' rejection

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GDA stands firm on RM11 offer for MAHB despite directors' rejection
GDAMAHBPrivatisation
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A GROWING number of US colleges and universities are advising international students to return to campus before President-elect Donald Trump is inaugurated, over concerns that he might impose travel bans like he did during his first administration.

, remains steadfast on its RM11 per share offer price, despite recommendations from independent directors to reject it.

"This compares to the 10.0 per cent YTD performance of the benchmark index FTSE Bursa Malaysia KLCI, in which the offer price premium is five times the KLCI’s performance,” it said. On that, GDA said while MAHB’s most recent performance indicates positive momentum, the consortium views that the prospects represented by the non-interested directors are optimistic and unlikely to materialise without significant additional capital investment and an infusion of technical know-how.

Apart from that, GDA said prolonged underinvestment has resulted in MAHB’s network of airports suffering in both maintaining the core assets and systems, as well as in new projects to expand capacity.

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