WCT expects RM70m-RM80m a year from KLIA2 Gateway biz (Update)

SHAH ALAM: WCT Holdings Bhd expects its 70:30 joint venture (JV) with Malaysia Airports Holdings Bhd Gateway@Kuala Lumpur International Airport 2, to rake in a revenue of RM70mil to RM80mil per annum.

Speaking to reporters after the company’s EGM on Tuesday, WCT’s director Kenny Wong Yik Kae said the take-up rate for the retail space stands at 80%.

It targets to reach 85% to 90% as there is a stream of inquiries from potential tenants.

He said operating profits from the integrated complex is estimated to range from RM15mil to RM20mil. 

“We expect to see some losses in the first three years due to depreciation, but subsequently, the project will contribute positively to the group’s top and bottom-lines,” he said.

Commenting on how any possible delays of the opening of the KLIA2 main terminal may impact its operations and financials there, he said: “There will be some form of impact but that will not harm our business.”

He added that its rights as a concessionaire were well preserved should any further delay occur.

The integrated complex was completed end-July last year.