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MAHB New Shares Fixed At RM4.78

January 28, 2015

Malaysia Airport Holdings Bhd (MAHB) has fixed the issue price of 275.31 million new ordinary shares at RM4.78, a discount of approximately 28.8 per cent to the theoretical ex-rights price of MAHB shares of RM6.71. The rights issue is expected to raise gross proceeds of approximately RM1.32 billion, MAHB said in a filing to Bursa Malaysia on January 27.
The price was determined after taking into consideration the purchase price for the acquisitions of the 40 per cent equity stake in the Istanbul Sabiha Gokcen Airport and 40 per cent equity stake in the LGM Havalimani Airport at RM1.18 billion.
The board feels that the discount is reasonably attractive to the entitled shareholders of MAHB to subscribe for the rights shares.
"In addition, the discount applied is also in line with the market discount rates of between 13.2 and 59.4 per cent for major rights issue exercises in Malaysia over the last five years," it added.


two new airports for Djibouti

January 28, 2015

Djibouti’s President, Ismaïl Omar Guelleh, laid the foundation stones for two new airports aimed to boost the infrastructure and connectivity of the country.
The two new airports will be built at an estimated cost of about US$600 million, and when complete, entry and exit points into Djibouti over and above the present international airport will have been added.
Planned to open in 2018, the first airport, named Hassan Gouled Aptidon International Airport after Djibouti’s first president, is being built in Ali-Sabieh, 25 kilometers south of the capital. It will be capable of catering to 1.5 million passengers and 100,000 tons of air cargo per year. The airport will accommodate all modern commercial aircraft including the world’s largest passenger aircraft, the Airbus A380.
The second airport, Ahmed Dini Ahmed International Airport, named after the former prime minister, is located in the north of Djibouti and is designed to handle up to 770,000 passengers per year. It is expected to open its doors in 2016. The two new airports will create approximately 2,000 jobs during construction and operation.
Moussa Ahmed Hassan, Djibouti’s Minister for Equipment and Transport, said when commenting on the new projects: “The investment in transport infrastructure in Djibouti will act as a catalyst for economic growth and development. The airports form part of the major transport infrastructure investment program, enabling the country to build on its position as a key regional trade hub.”
The two new international airports will complement Djibouti’s existing U$5 billion multiple seaport investment plan. Djibouti will start work on brand-new liquefied natural gas and crude-oil terminals in 2015, which will add to four new ports already being built, quadrupling cargo handling to almost 80 million metric tons annually.


Malaysia submits proposal for Nepal's new airport

January 28, 2015

Malaysia has submitted a proposal to undertake the construction of a new international airport in Nepal. The Prime Minister's Special Envoy to South Asia Datuk Seri Dr S Samy Vellu said the Malaysian parties are still awaiting a formal response from the Nepalese authorities, before starting detailed negotiations. "I visited Nepal about two months ago and conveyed then, a message to Nepal's Prime Minister, of our intention to take up the airport project. The government later agreed to our request and we submitted a proposal," he told reporters after the Nepal Investment Summit 2015 on January 27.
Apart from the airport, Samy Vellu said Malaysia is also interested in undertaking various highway projects planned by the Nepalese government.
"The present high growth rate in construction and infrastructure development in Malaysia shows that local industry players are exposed to projects with varying complexities and able to perform well in the global arena," he added.
He said Nepal's strategic location of being between the two emerging economic giants of the world, China in the North and India in the South, East and West, is fertile for investments.
Having said that, he urged Malaysian firms to leverage on this unparalleled platform to bridge their connection with Nepalese peers and be the first to expand the footprint in the Nepalese infrastructure sector.
"I mentioned to Nepal's Prime Minister that with proper planning of good road, airports and other infrastructure, we can together make the country a little Switzerland of the east," added Samy Vellu.
Meanwhile, Nepal's Minister of Urban Development of Nepal Dr Narayan Khadka said Malaysian investors had been active in Nepal in roughly 30 projects, and covered all sectors.
He expressed the hope for more Malaysian Foreign Direct Investment in the coming days.
Narayan said Nepal needs investments in physical infrastructure to reach the developing country status by 2022, and needs to invest a minimum 30 per cent


Billy Bishop Toronto City Airport Terminal sold

January 28, 2015

Porter Aviation Holdings Inc. (PAHI) has completed the sale of its passenger terminal at Billy Bishop Toronto City Airport (BBTCA) to Nieuport Aviation Infrastructure Partners GP (Nieuport Aviation), a consortium of Canadian and international infrastructure equity investors.
Nieuport Aviation comprises InstarAGF Asset Management Inc. (InstarAGF), Kilmer Van Nostrand Co. Limited, Partners Group, and institutional investors advised by J.P. Morgan Asset Management. Nieuport Aviation encompasses long-term infrastructure owners and operators with a deep local presence, significant international expertise in managing aviation infrastructure, and a commitment to world-class client service.
PAHI operated terminal facilities at BBTCA through its subsidiary, City Centre Terminal Corp. (CCTC). Porter Airlines Inc., another PAHI subsidiary, will maintain and enhance its service at the airport in coming years.


Oman airport terminates UK firm's $310m IT contract

January 28, 2015

British defence contractor Ultra Electronics Holdings said its Oman airport IT contract had been terminated and there would be a likely provision against the contract balances in its 2014 results.
It would start discussions with the customer this week to work towards a settlement. Ultra said termination of the contract, which was worth about £207 million ($310 million) when won in 2011, would have a minimal impact on its 2015 underlying profit.


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MAHB New Shares Fixed At RM4.78

January 28, 2015

two new airports for Djibouti

January 28, 2015

Malaysia submits proposal for Nepal's new airport

January 28, 2015

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