Airports see bright future
In November 30, 1999, Malaysia Airports became the first airport company to be listed in Asia, and one of just six in the world. The company is listed on the main board of the Kuala Lumpur Stock Exchange.Malaysia Airports manages and operates 38 airports: five major international airports, 15 domestic airports and 18 STOLports. STOLports are Short Take-Off and Landing Airports that serve communities in less-accessible areas in Malaysia. On November 1, 1992, Malaysia Airports (through its subsidiary Malaysia Airports Sdn Bhd) was granted a license from the Ministry of Transport to operate all existing airports for a period of 30 years. Under this agreement, an annual lease payment of RM5 million is made to the government. KLIA is operated by Malaysia Airports under a license issued by the Ministry of Transport. On October 18, 1998, the Government of Malaysia entered a concession and lease agreement with Malaysia Airports (Sepang) to operate and manage KLIA. The agreement, commencing May 5, 1998, is for a period of 50 years. Malaysia Airports' role is in the operations of the airports which includes the development, management and maintenance of existing terminal buildings, runways, roads, car parks, placing primary importance on operational efficiency, safety and security of passengers and aircraft and fulfilment of environmental requirements. In 2001, KLIA was among the Top 10 performing airports in Asia-Pacific Region by Association of Asia - Pacific Airlines (AAPA). Apart from the operations and management of airports, Malaysia Airports, through its subsidiaries, is involved in the operations of duty free and non-duty free outlets; provision of food & beverage related services at the airport; property investment holding of the car parks, airside hotel and the Pan Pacific KLIA hotel, Free Commercial Zone and Southern Common facilities at KLIA; palm oil plantations. KLIA is the engine of growth for Malaysia Airports, fuelled by its proximity to Putrajaya.