MALAYSIA AIRPORTS HOLDINGS BHD

KLSE (MYR): AIRPORT (5014)

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Last Price

10.66

Today's Change

+0.04 (0.38%)

Day's Change

10.62 - 10.66

Trading Volume

800,600

Financial

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Last 10 FY Result
AQR T4Q 31/12/23 31/12/22 31/12/21 31/12/20 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 CAGR
Revenue 5,460,546 5,378,081 4,914,188 3,127,023 1,672,993 1,866,345 5,213,107 4,851,702 4,652,338 4,172,768 3,870,207 3,343,721 4.36%
PBT 748,302 683,089 506,104 184,621 -1,040,946 -1,763,861 659,151 780,592 334,485 183,331 45,939 749,327 -4.26%
Tax 43,280 95,152 37,063 2,575 274,507 647,665 -122,109 -53,289 -97,387 -110,157 -5,827 -85,988 -
NP 791,582 778,241 543,167 187,196 -766,439 -1,116,196 537,042 727,303 237,098 73,174 40,112 663,339 -2.19%
-
NP to SH 791,582 778,241 543,167 187,196 -766,439 -1,116,196 537,042 727,303 236,486 70,386 40,904 663,368 -2.19%
-
Tax Rate -5.78% -13.93% -7.32% -1.39% - - 18.53% 6.83% 29.12% 60.09% 12.68% 11.48% -
Total Cost 4,668,964 4,599,840 4,371,021 2,939,827 2,439,432 2,982,541 4,676,065 4,124,399 4,415,240 4,099,594 3,830,095 2,680,382 5.58%
-
Net Worth 8,185,427 8,185,427 8,000,197 7,426,376 7,252,493 8,099,344 9,325,321 9,925,154 9,011,402 8,694,828 8,476,650 7,211,697 1.15%
Dividend
AQR T4Q 31/12/23 31/12/22 31/12/21 31/12/20 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 CAGR
Div - 179,802 179,802 64,874 - - - - - - - - -
Div Payout % - 23.10% 33.10% 34.66% - - - - - - - - -
Equity
AQR T4Q 31/12/23 31/12/22 31/12/21 31/12/20 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 CAGR
Net Worth 8,185,427 8,185,427 8,000,197 7,426,376 7,252,493 8,099,344 9,325,321 9,925,154 9,011,402 8,694,828 8,476,650 7,211,697 1.15%
NOSH 1,668,554 1,668,554 1,668,554 1,659,191 1,659,191 1,659,191 1,659,191 1,801,592 1,659,191 1,659,191 1,659,191 1,350,631 2.37%
Ratio Analysis
AQR T4Q 31/12/23 31/12/22 31/12/21 31/12/20 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 CAGR
NP Margin 14.50% 14.47% 11.05% 5.99% -45.81% -59.81% 10.30% 14.99% 5.10% 1.75% 1.04% 19.84% -
ROE 9.67% 9.51% 6.79% 2.52% -10.57% -13.78% 5.76% 7.33% 2.62% 0.81% 0.48% 9.20% -
Per Share
AQR T4Q 31/12/23 31/12/22 31/12/21 31/12/20 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 CAGR
RPS 327.26 322.32 295.18 188.47 100.83 112.49 314.20 269.30 280.40 251.49 243.29 247.57 1.97%
EPS 44.00 46.64 29.17 7.82 -49.66 -70.75 28.90 40.37 10.82 0.94 -1.09 49.10 -5.61%
DPS 0.00 10.80 10.80 3.91 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -
NAPS 4.9057 4.9057 4.8054 4.4759 4.3711 4.8815 5.6204 5.5091 5.4312 5.2404 5.3287 5.3395 -1.16%
Adjusted Per Share Value based on latest NOSH - 1,668,554
AQR T4Q 31/12/23 31/12/22 31/12/21 31/12/20 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 CAGR
RPS 327.26 322.32 294.52 187.41 100.27 111.85 312.43 290.77 278.82 250.08 231.95 200.40 4.36%
EPS 44.00 46.64 32.55 11.22 -45.93 -66.90 32.19 43.59 14.17 4.22 2.45 39.76 -2.19%
DPS 0.00 10.80 10.78 3.89 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -
NAPS 4.9057 4.9057 4.7947 4.4508 4.3466 4.8541 5.5889 5.9484 5.4007 5.211 5.0802 4.3221 1.15%
Price Multiplier on Financial Quarter End Date
AQR T4Q 31/12/23 31/12/22 31/12/21 31/12/20 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 CAGR
Date 28/06/24 28/06/24 29/12/23 30/12/22 31/12/21 31/12/20 31/12/19 31/12/18 29/12/17 30/12/16 31/12/15 31/12/14 -
Price 9.90 9.90 7.36 6.56 5.98 5.92 7.60 8.38 8.79 6.06 5.61 6.80 -
P/RPS 3.03 3.07 2.49 3.48 5.93 5.26 2.42 3.11 3.13 2.41 2.31 2.75 -1.09%
P/EPS 20.87 21.23 22.56 58.14 -12.95 -8.80 23.48 20.76 61.67 142.85 218.17 13.84 5.57%
EY 4.79 4.71 4.43 1.72 -7.72 -11.36 4.26 4.82 1.62 0.70 0.46 7.22 -5.27%
DY 0.00 1.09 1.47 0.60 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -
P/NAPS 2.02 2.02 1.53 1.47 1.37 1.21 1.35 1.52 1.62 1.16 1.05 1.27 2.08%
Price Multiplier on Announcement Date
AQR T4Q 31/12/23 31/12/22 31/12/21 31/12/20 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 CAGR
Date 30/08/24 30/08/24 29/02/24 28/02/23 28/02/22 26/02/21 28/02/20 28/02/19 21/02/18 28/02/17 17/02/16 13/02/15 -
Price 10.50 10.50 8.48 6.79 6.20 5.99 6.59 8.17 8.89 6.48 6.18 7.01 -
P/RPS 3.21 3.26 2.87 3.60 6.15 5.33 2.10 3.03 3.17 2.58 2.54 2.83 0.15%
P/EPS 22.13 22.51 25.99 60.18 -13.42 -8.90 20.36 20.24 62.37 152.75 240.34 14.27 6.88%
EY 4.52 4.44 3.85 1.66 -7.45 -11.23 4.91 4.94 1.60 0.65 0.42 7.01 -6.43%
DY 0.00 1.03 1.27 0.58 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -
P/NAPS 2.14 2.14 1.76 1.52 1.42 1.23 1.17 1.48 1.64 1.24 1.16 1.31 3.33%

PBT = Profit before Tax, NP = Net Profit, NP to SH = Net Profit Attributable to Shareholder, Div = Dividend, NP Margin = Net Profit Margin, ROE = Return on Equity, NOSH = Number of Shares, RPS = Revenue per Share, EPS = Earning Per Share, DPS = Dividend Per Share, NAPS = Net Asset Per Share, EOQ = End of Quarter, ANN = Announcement, P/RPS = Price/Revenue per Share, P/EPS = Price/Earning per Share, P/NAPS = Price/Net Asset per Share, EY = Earning Yield, DY = Dividend Yield.

NOSH is estimated based on the NP to SH and EPS. Div is an estimated figure based on the DPS and NOSH. Net Worth is an estimated figure based on the NAPS and NOSH.

Div Payout %, NP Margin, ROE, DY, QoQ ⃤ & YoY ⃤ figures in Percentage; RPS, EPS & DPS's figures in Cent; and NAPS's figures in Dollar.

All figures in '000 unless specified.

Discussions
5 people like this. Showing 50 of 2,116 comments

AnthonyAng666

This is the price of privatizing Malaysia Airports

2 months ago

findfreedom

Ya.. I am saying the price is above my expectation.

2 months ago

AnthonyAng666

So, you tp already, findfreedom ? 🙂

2 months ago

findfreedom

Waiting for approval.. :(

2 months ago

rohank71

what if there is NO approval?

2 months ago

findfreedom

Then no freedom la.

2 months ago

AnthonyAng666

Then you find the next freedom, findfreedom. ha

2 months ago

findfreedom

Our local authority is waiting for green light kut..

2 months ago

rohank71

MavCom approval by end of Q3 or 30 Sept? and GO becomes unconditional?

1 month ago

findfreedom

There is no confirm date MavCom will approve but the approval must be granted by Nov 15.

1 month ago

AnthonyAng666

They slowly feed people good news 🙂
https://www.thestar.com.my/business/business-news/2024/09/30/mavcom-reports-32-drop-in-complaints-for-1h24

1 month ago

Wong Yek Hon

Question, what if I hold till the privatization approved and exercised? My units on hand will be auto bought over by the main shareholders at the price RM11? What about the processing time and fees? Any advice is appreciated.

1 month ago

findfreedom

Next year I will give u the answer.. hopefully. :)

1 month ago

AnthonyAng666

Nice, MAHB’s 3Q2024 passenger movement up 10% y-o-y to 36.1 mil
https://theedgemalaysia.com/node/730580

1 month ago

zeeyong82

Feel like got people trying to push down the share so that more shareholder will agree with RM11 offer price.

What do you think?

3 weeks ago

hw0706

fund is selling due to economy situation

3 weeks ago

AnthonyAng666

Temporary only. After US election, market sentiment will recover

2 weeks ago

zeeyong82

Mavcom already approve the privatisation of airport on 30 October 2024. The entire privatisation process will be completed before end of December 2024.

Based on today price (RM10.46), I don’t think any shareholder will reject the offer price of RM11 for privatisation of airport. Nobody will crazy enough to reject free money right? (Thats an Instant and Secure Profit of 5%).

This deal is a sure win deal for minor shareholders like us.

Thanks Anwar & Anthony Loke!

2 weeks ago

findfreedom

Where do u get the news?

2 weeks ago

zeeyong82

https://www.chinapress.com.my/20241102/%E8%88%AA%E5%A7%94%E4%BC%9A%E4%BA%AE%E7%BB%BF%E7%81%AF-%E5%A4%A7%E9%A9%AC%E6%9C%BA%E5%9C%BA%E7%A7%81%E6%9C%89%E5%8C%96%E8%BF%91%E8%90%BD%E5%AE%9E/

2 weeks ago

findfreedom

Whole internet seems only chinapress announce this. And you seem to announce earlier then chinapress. LOL

2 weeks ago

zeeyong82

Mavcom actually already announce on their website on 30 October 2024. That why airport share price rise so much on 1/11/2024. Newspaper always slow action one.

2 weeks ago

findfreedom

You are right, sorry I suspected you spaming fake news previously. :)

2 weeks ago

findfreedom

At second read, does it mean approved? It just mention not infringe the act.

2 weeks ago

zeeyong82

It is approved. Now just pending last step which is getting 90% shareholders agree on it, everything will settle before end of december 2024.

This is sure win deal if we bought lower than RM11. We just have to be patient and wait.

2 weeks ago

findfreedom

Yes. I believe so. It is a clearance rather than an approval.

2 weeks ago

Syndicates

MAVCOM welcomes any party to submit written feedback on the Proposed Decision by email to competition@mavcom.my by 5.00 pm on 6 November 2024.

2 weeks ago

hw0706

Consultation
Oct 30, 2024

Consultation on the Proposed Decision on the Voluntary Notification and Application of an Anticipated Merger by Gateway Development Alliance Sdn Bhd, Pantai Panorama Sdn Bhd, Kwasa Aktif Sdn Bhd, and GIP Aurea Pte Ltd in relation to the Proposed Privatisation of Malaysia Airports Holdings Berhad
MAVCOM has found, through its Proposed Decision, that the anticipated merger by Gateway Development Alliance Sdn Bhd, Pantai Panorama Sdn Bhd, Kwasa Aktif Sdn Bhd, and GIP Aurea Pte Ltd in relation to the proposed privatisation of Malaysia Airports Holdings Berhad would not infringe the prohibition in section 54 of the Malaysian Aviation Commission Act 2015.

MAVCOM welcomes any party to submit written feedback on the Proposed Decision by email to competition@mavcom.my by 5.00 pm on 6 November 2024.

Consultation on the Proposed Decision on the Voluntary Notification and Application of an Anticipated Merger by Gateway Development Alliance Sdn Bhd, Pantai Panorama Sdn Bhd, Kwasa Aktif Sdn Bhd, and GIP Aurea Pte Ltd in relation to the Proposed Privatisation of Malaysia Airports Holdings Berhad

2 weeks ago

zeeyong82

This is just a typical procedure for MAVCOM to show that they have democracy, your objection will not change their decision. It is considered approve already, just pending last step which is 90% shareholders agree on it.

Just accept the privatisation offer at RM11 and take your profit. Don’t make it so complicated🙂

2 weeks ago

findfreedom

Other counter once announced take over.. immediate reach the price already..

2 weeks ago

zeeyong82

If the last step done, I believe it will direct reach or very near to the TP RM11.

Now still pending last step which is 90% shareholder agree on it. Just be patient and wait.

2 weeks ago

Matterginn

With the target price floating at $7, there's still some room to grow if the numbers hold steady.

2 weeks ago

Wong Yek Hon

how soon shall we get the privatization offer? is it in formal letter form and we gotta fill up and submit some documents to sell it off at RM11.00?

2 weeks ago

findfreedom

I suppose tomorrow it should announce in Bursa already.

2 weeks ago

AnthonyAng666

Thought is yesterday ...? https://www.nst.com.my/business/corporate/2024/11/1129336/mavcom-greenlights-mahb-privatisation-calls-feedback-decision-nov

2 weeks ago

Matterginn

Also, with KLIA2 set up as a reliable revenue stream and ongoing cost management, there’s potential here if everything goes as planned.
And if you’re looking at some travel options for upcoming trips, check out https://travelbusinessclass.com/ —they offer some solid flight deals that can add a little extra comfort to the journey.

1 week ago

Wong Yek Hon

erm, call for feedback on 6 Nov. but today already 8 Nov. so means approved liao, and wait for them the announce the details only?

1 week ago

hw0706

MAVCOM has found that the anticipated merger by Gateway Development Alliance Sdn. Bhd., Pantai Panorama Sdn. Bhd., Kwasa Aktif Sdn. Bhd., and GIP Aurea Pte. Ltd. in relation to the proposed privatisation of Malaysia Airports Holdings Berhad would not infringe the prohibition in section 54 of the Malaysian Aviation Commission Act 2015.

The decision on the anticipated merger was made by MAVCOM on 8 November 2024.

Final Decision on the Voluntary Notification and Application of an Anticipated Merger by Gateway Development Alliance Sdn. Bhd., Pantai Panorama Sdn. Bhd., Kwasa Aktif Sdn. Bhd., and GIP Aurea Pte. Ltd. in relation to the Proposed Privatisation of Malaysia Airports Holdings Berhad

1 week ago

findfreedom

We wish to announce that the Company had on 8 November 2024, received a press release from AmInvestment Bank, on behalf of the Joint Offerors, informing the Company that the Malaysian Aviation Commission (“MAVCOM”) issued its final decision that the proposed transaction by the Joint Offerors pursuant to the Offer falls within the scope of subparagraph 54(2)(b) of the Malaysian Aviation Commission Act 2015 (“Act 771”) and if carried into effect, will not infringe the prohibition in Section 54 of Act 771.


The final decision is, however, subject to the Joint Offerors entering into a finalised, valid, and binding Shareholders’ Agreement, which contains their key obligations in the Shareholders’ Agreement Term Sheet dated 15 May 2024 and the second draft Shareholders’ Agreement received by MAVCOM on 24 October 2024, thereby ensuring that, post-merger, the Joint Offerors will not engage in commercial activities relating to aviation services that infringe the prohibitions under Act 771 (“MAVCOM Condition”).


Given that the final decision is subject to the MAVCOM Condition, the final Pre-Condition has not been fulfilled at this time. The Joint Offerors are currently working towards fulfillling the final Pre-Condition to undertake the Offer.


The Joint Offerors will make the relevant press release(s) as and when applicable.


Please refer to the attached press release for further details.


This announcement is dated 8 November 2024.

1 week ago

zeeyong82

This document outlines the Malaysian Aviation Commission's decision regarding the proposed transaction, labeled as an "Anticipated Merger," involving Gateway Development Alliance Sdn Bhd, Pantai Panorama Sdn Bhd, Kwasa Aktif Sdn Bhd, and GIP Aurea Pte Ltd. The primary points of the decision are:

Merger Scope: The merger aims to privatize Malaysia Airports Holdings Berhad, with the Applicants intending to acquire the remaining 67.01% of shares not currently held by them.
Commission Approval: The merger was voluntarily notified to the Commission, which, after review, determined that the merger would not infringe the prohibition stated in Section 54 of Act 771.
Shareholders' Agreement: The decision is conditional upon the finalization of a valid Shareholders' Agreement. This agreement ensures that post-merger, the Applicants will refrain from engaging in prohibited commercial aviation activities under Act 771.
Validity: The decision remains valid for one year, effective from 8 November 2024.
This summary clarifies the steps and conditions under which the proposed merger can proceed, with emphasis on compliance with aviation regulations.

1 week ago

zeeyong82

根据马来西亚航空委员会的决定文件，关于由Gateway Development Alliance Sdn Bhd、Pantai Panorama Sdn Bhd、Kwasa Aktif Sdn Bhd 和 GIP Aurea Pte Ltd 提出的马来西亚机场控股公司（MAHB）的预期合并申请，文件总结了以下几点：

合并范围：该合并计划涉及私有化MAHB，申请方将收购剩余67.01%的未持有股份。
法律框架：经过委员会审查，依据《2015年马来西亚航空委员会法令》（Act 771），合并若生效将不会违反第54条禁止的规定。
合并条件：此决定依赖于申请方签订最终的有效股东协议，确保合并后不会从事任何违反该法令规定的商业航空服务活动。
决定有效期：该决定自2024年11月8日起生效，有效期为一年。
文件明确表示，申请方在完成合并后需要遵守相关的航空服务法律框架，确保不会对市场竞争产生不利影响。

1 week ago

zeeyong82

This is the conclusion from the latest MAVCOM press release, which means it now reach the FINAL STEP which is require 90% shareholder agree to privatise MAHB.

Not long until we can reach RM11 target price, maybe within this month.

Thanks Anwar & Anthony Loke!

1 week ago

findfreedom

Refer to my previous post, it was posted by AIRPORT in BURSA website in the same day after market close.

Given that the final decision is subject to the MAVCOM Condition, the final Pre-Condition has not been fulfilled at this time. The Joint Offerors are currently working towards fulfillling the final Pre-Condition to undertake the Offer.

1 week ago

AnthonyAng666

The Cabinet has approved the proposed RM442.30 million upgrade for the Kota Kinabalu International Airport (KKIA) by Malaysia Airports Holdings Berhad (MAHB), said Transport Minister Anthony Loke.

The project is fully funded by MAHB through a private financing initiative with no government guarantees involved 😮

https://www.malaymail.com/news/malaysia/2024/11/13/transport-minister-says-malaysias-second-busiest-airport-in-kota-kinabalu-has-cabinet-greenlight-for-rm4423m-upgrade/156754

1 week ago

zeeyong82

Government: Let’s privatised airport with RM11 each share😁

Shareholders: Why privatized airport if airport can earn so much profit? I disagree on this privatisation bullshit…

Government: Ok. Now let’s use the company own money to upgrade airport facilities so that airport won’t earn so much profit in the near future😎

Shareholders: Fxxk!!!

1 week ago

hw0706

Business getting tough to do. malaysia sooner or later investor will move away. Too many department or ministry get involve...sometime do not know which information or policy is correct especially the guideline.

6 days ago

findfreedom

We wish to announce that the Company had on 15 November 2024, received from AmInvestment Bank, on behalf of the Joint Offerors, a notice of conditional voluntary take-over offer informing the Board of the firm intention of the Joint Offerors to make the Offer in accordance with subparagraph 9.10(1) of the Rules (“Notice”).

The Board notes from the Notice that MAVCOM confirmed that it is satisfied that the MAVCOM Condition is met following its receipt and review of the executed finalised, valid and binding Shareholders’ Agreement by the Joint Offerors.

A copy of the Notice is attached herewith for your reference. The Notice will be despatched to all shareholders of the Company within seven (7) days from this announcement, in accordance with subparagraph 9.10(5)(b) of the Rules.

This announcement is dated 15 November 2024.

6 days ago

Kuli99

I own a share as minority. What should I do after this announcement?

6 days ago

findfreedom

Wondering who is not minority here? :p I suppose the notice that going to send to us will have the info.

5 days ago

hw0706

sell on monday

4 days ago

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