In a statement, MAHB chairman Nungsari Ahmad Radhi said the independent non-executive directors are Mohamad Husin, Ramanathan Sathiamutty, Khor Hui Peng, Koe Peng Kang and Chia Woon Liat.

Non-independent non-executive director Zainun Ali, who had previously served as chairman of the board, has also tendered her resignation following the conclusion of her tenure as a Ministry of Finance (Incorporated) nominee on Feb 16.

Nungsari said the group held its final board meeting as a Bursa-listed company yesterday, marking the end of its 25-year journey as a public-listed entity that began in November 1999 when it debuted at RM2.50 per share.

He said GDA’s recently concluded offer to privatise MAHB at RM11.00 per share reflected a compounded average growth rate (CAGR) of over 6% in share price over the 25 years. Nungsari said MAHB has also distributed a total of RM2.81 billion in dividends up to 2023.

MAHB manages 39 airports throughout Malaysia, including five international airports, 17 domestic airports, and 17 STOLports (short take-off and landing airports).

The Khazanah-EPF led GDA succeeded in getting enough shares to delist and take MAHB private on Jan 28. Bursa Malaysia will suspend the trading of MAHB shares on Feb 20 in preparation for the company’s delisting from the Main Market.

GDA is a consortium comprising Khazanah, EPF, the Abu Dhabi Investment Authority and BlackRock-owned Global Infrastructure Partners.

Nungsari noted that the new shareholders will be collectively responsible for the well-being of the company, its employees and the development of Malaysia’s aviation sector.

“I expect them to bring MAHB to greater heights while fulfilling the obligations of the operating agreement in Malaysia and the concession agreement at Istanbul Sabiha Gokcen International Airport,” he added.