At a press conference after its annual general meeting (AGM) here today, MAHB group CEO Mohd Shukrie Mohd Salleh said the airports had never stopped operating throughout the Covid-19 pandemic although flights were significantly reduced.
“At the peak of the pandemic, we still processed between 5,000 and 10,000 passengers per day at KLIA,” he said, referring to the thousands of Malaysians who were repatriated from all over the world.
Putrajaya recently announced that foreigners from green zone countries could enter the country subject to an agreement on standard operating procedures by Malaysia and the countries in question.
So far, six green zone countries have been identified – Singapore, Brunei, Australia, New Zealand, Japan and South Korea.
Mohd Shukrie said MAHB had been engaged by the authorities for its input on airport operations.
He said it would have to prepare to scale up Covid-19 tests once more people begin travelling. “We are working closely with the health ministry. That’s the part we need to be ready for.”
On a separate matter, Mohd Shukrie said MAHB was looking for ways to maintain its liquidity in the face of the reduction in travel.
The group has some RM2.8 billion in cash reserves but is looking at its options. This includes RM1.5 billion in untapped sukuk facilities and RM1.7 billion in credit facilities from banks.
He said MAHB was looking at the possibility of recouping some of its receivables from the government and airlines.
Mohd Shukrie also said it was a “blessing in disguise” that the regulated asset base framework (RAB) had not been introduced. Under a current operating agreement, the government funds the development of an airport and MAHB operates it, paying a percentage of revenue to the government.
Under the RAB, which has been talked about for some time, an airport operator will be able to source for funding to invest in infrastructure development.
The RAB model has been used successfully in other countries for airport development and is also used in Malaysia by utility companies.
Mohd Shukrie said had the RAB been introduced, MAHB would have to push ahead with capital expenditure, failing which it could be penalised.
“Imagine if we were to spend a couple of billions and there is no travel, how will we get our money back?” he asked.
But, he said, the RAB was still in place and MAHB would discuss it with the relevant authorities at the right time to implement it.
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