106 MALAYSIA AIRPORTS HOLDINGS BERHAD UPCOMING MILESTONES The next game changer for Malaysia Airports will be the finalisation of the 99-year land lease with the government for the KLIA Aeropolis development. This will unlock further value and attract high quality foreign and domestic direct investment, propelling further our aspirations for Malaysia. We also expect to conclude the Operating Agreements with the government with regards the 39 airports we manage in Malaysia. The conclusion of the respective agreements will serve as a major catalyst in spurring the nation’s economic growth. WE ARE READY At Malaysia Airports, we are ready and are well-prepared for the transition to endemicity. In terms of airport readiness, the ACI Airport Health Accreditation for six international airports is recognition and acknowledgment that our health standards and practices meet industry recommendations and global benchmarks. The improvements to airport facilities, infrastructure and service quality and our ASQ rankings ensure that we enter this new phase at the peak of our ability to deliver a memorable airport experience to passengers. The digitalisation initiatives which have been rolled out in the past year have also ensured we have achieved the capabilities and efficiency that the new travel norms require, and that our airports are ready to deal with surges in passenger traffic. The readiness of the Group to take on the next phase of its growth is also due to our people - the many unsung heroes who worked on the frontlines of the pandemic to further the Group’s vision. We had made a strategic decision not to retrench any staff despite the challenging operating conditions of the past two years, but instead to retrain, reskill and redeploy as needed. As such, our workforce is ready and primed for action. Similarly, our strategic decision to extend a helping hand to our tenants has helped sustain them through the darkest days of the pandemic. This will also ensure that there is no interruption to the services and facilities that passengers expect at the airport as traffic recovers. The Group’s financial discipline particularly with regards to containment of operating costs, rebasing core costs, maintaining undrawn lines and sustaining its cash position has also strengthened the Group’s ability to pursue growth in the coming year and beyond. Finally, the pandemic and the challenges it posed has hardened the Group’s resolve to succeed. There has been a growing realisation that we need to be nimble and agile and adopt an entrepreneurial approach, and take bold steps to do things MANAGEMENT DISCUSSION AND ANALYSIS differently. We also constantly challenged ourselves to look for untapped opportunities within the Group, and to unlock the value in those opportunities. On 1 April 2022, after two years of border closure since March 2020, Malaysia reopened its international borders. Our airports nationwide were ready to ensure a safe and seamless experience for all airport users upon the reopening of borders with the airport community and government authoritiesworking closely to make sure that health protocols and procedures at the airport were simplified for the passengers’ convenience. I am pleased that our commitment in making sure that standards at the airport are consistently high ensured that the reopening got off to a smooth start at the airports. Our daily engagements with airport stakeholders to iron out even the smallest details paid off as the airport operations ran like clockwork, ensuring a smooth journey for passengers and also compliance with all aviation regulations. HEARTFELT THANKS AND GRATITUDE In a year akin to a rollercoaster, Malaysia Airports has remained united and steadfast in its mission. I would like to thank my colleagues for their commitment, dedication and courage, and for their many sacrifices. I would also like to thank our Board of Directors for their guidance and stewardship in helming Malaysia Airports through its most challenging times. I wish to express my sincere gratitude to all our stakeholders - the various ministries, government agencies, airline partners, retail partners, vendors and other business partners as well as our shareholders for their support. I am confident that the mutual cooperation and support between Malaysia Airports and its stakeholders will spur us to take bold action together, and chart a path together towards a brighter future. I look forward to working closely with all of you in 2022. DATO’ ISKANDAR MIZAL MAHMOOD Managing Director
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