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    AIRPORT   MYL5014OO005

MALAYSIA AIRPORTS HOLDINGS BERHAD

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Malaysia Airports : Skyways Technics Expands Regional Asia Pacific Hub At Subang Airport

05/19/2021 | 09:44am EST

SEPANG - Malaysia Airports and Skyways Technics Group have reached another major milestone in growing the MRO component of the Subang Airport Regeneration plan, through a recent Memorandum of Understanding (MoU) signed between the two parties. Skyways Technics Groups will be expanding its regional Asia Pacific hub at Subang Airport with a full-fledged end to end MRO facilities comprising line and base air frame MRO hangar, component repair workshops, parts distribution centre, and aircraft on ground (AOG) services within the APAC region. The Danish company, with more than 30 years of experience in maintenance of regional aircraft such as ATR, aircraft component MRO services, and spare parts support, established its Asian headquarters outside of Denmark in Subang Airport back in 2014 with only a component repair workshop. The collaboration marks Malaysia Airports' commitment to further strengthen the Subang Airport's position as a regional aviation and aerospace hub, and the confidence level of major global aerospace players such as Skyways Technics to expand its regional operation right here in Subang Airport. With active engagements such as these forming part of its 5-year Subang Airport Regeneration initiatives, Subang Airport is poised to become Asia Pacific's preferred Maintenance, Repair and Overhaul (MRO) hub for ATR and regional aircraft, attracting MYR 1.0 billion in international and domestic investments.

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According to Randhill Singh, Head of KLIA Aeropolis, Malaysia Airports, 'Skyways Technics is a prominent international player in the industry for ATR and regional aircraft maintenance. Skyways Technics' intention to continually expand its capabilities and grow in South East Asia is in complete alignment with our Subang Airport Regeneration strategy which seeks to position Subang Airport as the hub for turboprops in the Asia Pacific and meets the demands of ATR maintenance in the region. The MRO activities in this region are set to grow by 150% over the next 10 years totaling USD21.7 billion. Subang Airport is more than ready to host Skyways Technics Group's expanded regional Asia Pacific hub that will leverage on ATR operators and MRO Centres, allowing it to cater to the region's demand.'

A current tenant at MRO Centre in Subang Airport, Skyways Technics is expanding its capabilities by positioning itself as a regional hub to mirror and further broaden its European expertise locally. The global aerospace player is looking to establish hangars as well as grow its current component MRO workshops to a regional centre of excellence, offering a full range of MRO services including line and base, ad-hoc and Aircraft on Ground services focused on ATR and other regional aircraft.

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Skyways Technics Group CEO Benjamin Nielsen expresses Skyways Technics' strong desire to strengthen and grow its Asia Pacific presence, 'Building on 7 years of spare parts support for regional aircraft operators and lessors throughout the Asia Pacific, we feel the time is right to offer ever increasing services from our home at Subang Airport. Since the very first day we have felt more than welcome at Subang Airport. Thus, it is our great pleasure to continue on this journey and are honoured to do so with our partner and friend, Malaysia Airports.'

(C) 2021 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2021 1 760 M 416 M 416 M
Net income 2021 -891 M -211 M -211 M
Net Debt 2021 4 083 M 965 M 965 M
P/E ratio 2021 -10,9x
Yield 2021 0,01%
Capitalization 9 491 M 2 243 M 2 244 M
EV / Sales 2021 7,71x
EV / Sales 2022 3,72x
Nbr of Employees 9 693
Free-Float 76,7%
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Number of Analysts 19
Last Close Price 5,72 MYR
Average target price 6,67 MYR
Spread / Average Target 16,7%
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Managers and Directors
Mohammad Shukrie bin Mohammad Salleh Group Chief Executive Officer
Mohamed bin Rastam Shahrom Group Chief Financial Officer
Zambry Abd Kadir Non-Independent Non-Executive Chairman
Yiang Ming Lee Chief Information Officer
Nor Azlina Binti Mohammad Isa Head-Technical Services