Business

MAHB share prices rebounds on technical correction

KUALA LUMPUR, Nov 28 ― Malaysia Airport Holdings Bhd's (MAHB) share price rebounded on a technical correction this morning, analysts said.

At lunch break, the airports operator's share price rose 18 sen, or 3.4 per cent, to RM5.36.

An analyst said recent news that the company had entered into a bid worth almost RM5 billion to own an airport in London, had fuelled interest in it.

He said the news is good for MAHB after the Maldive's government today terminated an airport contract with a consortium in which it had a 23 per cent stake.

The US$500 million (RM1.52 billion) contract to operate the Ibrahim Nasir International Airport on Hulhul' Island near Mal' was signed on June 28, 2010 between GMR-MAHB consortium, Maldives Airports Co Ltd and the government.

GMR is a Bangalore-based global infrastructure major with interests in airports, energy, highways and urban infrastructure.

The contract, signed when the previous government was in charge, had been hanging in the balance, ever since a regime change eight months ago. ― Bernama

Comments