MAHB, which stands for Malaysia Airports Holdings Bhd has submitted a comprehensive and strategic plan for the long-term development of the Sultan Abdul Aziz Shah Airport (SAAS or Subang Airport) to the government.
The airport operator, in a statement said the regeneration plan, which has been verified through extensive benchmarking and stakeholder engagements, is premised on three focus areas, namely aerospace ecosystem, business aviation, and urban community airport.
It said that it is meant to propel SAAS to become the preferred aerospace and business aviation hub in Asia Pacific in the next five years.
Datuk Mohd Shukrie Mohd Salleh, who is the MAHB group chief executive officer said, since the company had been mandated by the government in 2005 to develop SAAS into an international aerospace park, it had grown the ecosystem by four times, and attracting the presence of 60 leading brand names and facilitating capital inflows of over RM500 million.
Mohd Shukrie said that moving forward the regeneration plan would grow the ecosystem further by three times, doubling the number of global and local operators to more than 100 that will create and support 19,000 strong high skilled workforce.
It will help to spearhead Malaysia’s transition into high technology, driven by the Industrial Revolution 4.0 (IR4.0) industries, and high-income nation with a projected value of over RM10.0 billion to the national economy.
With sufficient internal cash reserves for the regeneration plan, Mohd Shukrie said MAHB is ready now to undertake the SAAS regeneration plan.
“The plan requires infrastructure investment of RM300.0 million staggered over the next five years, and this is well within our capability as we still have a strong cash and money market position of RM1.6 billion with RM914.0 million available for the Malaysian operations,” he added. He said the funding for ready-built or build-to-suit facility could be easily facilitated via a combination of internal cash as well as project financing options