SEPANG: Malaysia Airports Holdings Bhd
’s (MAHB) net profit fell 29% to RM100mil for the fourth quarter ended Dec 31, 2010 against RM140.9mil a year earlier.
The airport operator said the lower profit was mainly due to its adoption of the FRS 139, resulting in a higher share of losses in associate company Sabiha Gokcen International Airport (SGIA), whereby the concession payable by SGIA was recognised at fair value and subsequently at amortised cost.
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