Malaysia Airports sets up Istanbul airport steering committee

KUALA LUMPUR: Malaysia Airports Holdings Bhd (MAHB) has established an integration steering committee (ISC) on Monday in relation to the acquisition of Sabiha Gokcen International Airport (SGIA) in Istanbul, Turkey.

In January this year, the company completed the RM1.2bil acquisition of the remaining 40% stakes in Istanbul Sabiha Gokcen Uluslararasi Havalimani Yatirim Yapim Ve Isletme AS (ISG) and the airport’s commercial arm, LGM Havalimani Isletmeleri Ticaret Ve Turizm AS (LGM).

MAHB told Bursa Malaysia on Tuesday that the new committee would ensure "an appropriate integration" of ISG and LGM operations into the MAHB group and establish proper monitoring controls for MAHB in ISG and LGM, including but not limited to procurement, finance, human resource and operational issues.

The members of the ISC - which will report directly to the MAHB board - are MAHB director Tunku Datuk Mahmood Fawzy Tunku Muhiyiddin (ISC chairman), MAHB advisor Tan Sri Bashir Ahmad Abdul Majid, MAHB managing director Datuk Mohd Badlisham Ghazali, MAHB senior general manager (operation services) Datuk Che Azmi Murad, and another member to be identified in due course.