Annual Report 2020

Emerging
STRONGER
TOGETHER
Annual Report 2020
Last year proved to be an arduous year due
to the COVID-19 pandemic. We have had to
drastically adjust our operations and innovate
ourselves by exploring new business models,
technologies and developments.
Amidst this landscape, Malaysia Airports continued to

remain steadfast and resilient to ensure that we continually
host joyful connections to guests, passengers and
partners. Our commitment was recognised through various
accolades, among which was that KL International Airport
(IATA Code: KUL) was hailed as one of the world’s top 10
airports in the Airports Council International (ACI) Airport
Service Quality (ASQ) ranking.
This hard-won achievement would not have been possible

without the full support of the whole airport community.
Everyone in the community displayed a strong spirit of
collaboration and came together as one to elevate the airport
service performance as we continue to serve the nation.
We are also extremely grateful to all airport frontliners

who have tirelessly continued to devote their time and
energy towards combating the pandemic while ensuring a
seamless airport experience within the new norms. We are
humbled by your immense contribution and unwavering
support for the benefit of the nation.
The Malaysia Airports Annual Report 2020 is complemented
by the Annual Report Microsite as well as more interactive Table of Contents
contents via the Malaysia Airports Augmented Reality App.
Enjoy the interactive contents on the app with 6 easy steps:
2 About This Report
Search for the Malaysia Airports Augmented Reality
App on the Apple App Store or Google Play Store
with your smart device
6 Chairman’s Statement
Our Business
Click the app and install
(Please check your device compatibility before 14 FY2020 Key Highlights
installing)
15 At a Glance
18 Where We Operate
20 Corporate Structure
Once installed, launch the Malaysia Airports
Augmented Reality App
22 Key Milestones
Our Value Creation Strategy

Click the start button in the Malaysia Airports
24 Value Creation Model
Augmented Reality App to launch the AR scanner
30 Operating Environment
and Outlook
33 Strategy
Look for the ‘AR Icon’ in the Annual Report and scan
it with the AR scanner to enjoy the interactive AR 46 Key Enablers
content
54 Sustainability Overview
57 Stakeholder Engagement
66 Material Matters
You can also click on the interactive button to 78 Sustainability Summary
explore additional content
Our Performance
80 Management Discussion
Fe e db a c k and Analysis
111 Five-Year Financial Summary
Malaysia Airports is committed to continuously
112 Group Five-Year Summary
improve our reporting and we value input from
114 Group Quarterly Performance
our stakeholders in making these enhancements.
115 Consolidated Statement of
Should you have any queries or feedback on this
Profit or Loss
report, please contact us through the following
116 Consolidated Statement of
channels:
Financial Position
117 Group Segmental Analysis
Email : [email protected]
119 Statement of Income Distribution
Address : Malaysia Airports Holdings Berhad
120 Statement of Financial Position
Malaysia Airports Corporate Office
Persiaran Korporat KLIA, 64000 KLIA
Sepang, Selangor Darul Ehsan
Malaysia
Cover Rationale
To ensure the sustainability of
Malaysia Airports’ business in a
year during which the aviation
industry was badly hit, we
took immediate measures to
strengthen our ability to ride
out the challenging operating
environment. Nevertheless,
our business operates in an
eco-system in which
stakeholders are dependent
on one another. By advancing
strong value propositions
and synergistic solutions for
stakeholders, we will emerge
stronger together, and ready
to soar again.
O u r G ove r n a n c e Addit ional Information
121 Board of Directors’ Profile 200 Corporate Information 221 Notice of the 22nd Annual
133 Group Senior Management 202 Awards and Accolades General Meeting
147 Subsidiaries Senior 203 Statement of Workforce 227 Statement Accompanying
Management 204 Airports Statistics Notice of the 22nd Annual
154 Corporate Governance 206 Statement of Shareholdings General Meeting
Overview Statement 210 Information for Shareholders 228 AGM Administrative Details
183 Statement on Risk Management and Investors
and Internal Control 211 Share Price, Volume Traded • Proxy Form
191 Board Audit Committee Report and Market Capitalisation
195 Investor Relations 212 Financial Calendar
197 Dividend Policy 213 List of Properties
199 Additional Compliance 219 Group Corporate Directory
Information 220 Airport Directory
Scan to view our

2020 Annual Report
Microsite
2 Malaysia Airports Holdings Berhad
About This Report
Introduction
This is Malaysia Airports’ third year of integrated reporting. The report has been prepared with reference to the principles of the
International Integrated Reporting Framework (<IR> framework) developed by the International Integrated Reporting Council
(IIRC).
We strive to continuously improve the quality of information available to our stakeholders and reporting practices through
adoption of the <IR> Framework, in consonance with the recommendations in the Malaysian Code on Corporate Governance
(MCCG) 2017 on integrated reporting.
The report aims to provide our stakeholders with transparent, relevant and integrated information of our business strategy,
performance, and future prospects in the context of economy, social and environment, leading to the creation of stakeholder value
over the short, medium and long-term. We are guided by our vision to be 'A Global Airport Group that Champions Connectivity
and Sustainability' and are resolute in our brand promise of 'Hosting Joyful Connections'.
Improvements of disclosure in Malaysia Airports’ Integrated Report for FY2020 are as follows:
Section FY2020 Improvements
Our Value Creation Strategy Operating Environment and Outlook:

Whilst the market and environment outlook continues to be challenged by travel
restrictions and border closures, our enhanced narrative highlights critical areas
discussed with our stakeholders to position the Group towards recovery and
growth prospects amidst the challenging landscape.
Annual Report 2020 3
Reporting Suite and Framework
EmErging EMERGING EmErging

STRONGER STRONGER STRONGER
TOGETHER
Annual Report 2020
TOGETHER
Financial Statements 2020
TOGETHER
Sustainability Report 2020 Airports Statistics 2020
An n u a l F inanc ial Sustainability Airports

Re p o r t S t at em ent s Report Statistics
Provides a holistic Sets out the Group’s full Provides detailed Contains data on the
assessment of our audited annual financial disclosures of our Group’s total traffic
ability to create statements, including management of movements including
sustainable value in the Independent sustainability risks and passenger, aircraft and
the short, medium and Auditor's Report opportunities within the cargo
long-term Economic, Environment
and Social parameters
Frameworks applied:
• Main Market Listing Requirements of Bursa Malaysia Securities Berhad
• Malaysian Financial Reporting Standards
• International Financial Reporting Standards
• Companies Act 2016
• Malaysian Code on Corporate Governance 2017
• Global Reporting Initiative (GRI) Standards for Sustainability Reporting - Core Option
The full report is also available online on our corporate website at www.malaysiaairports.com.my
Scope and Boundary
This report covers our financial and non-financial performance during the period from 1 January 2020 to 31 December 2020.
Information presented relates to the principle activities of the Group and all its subsidiaries, unless stated otherwise. Detailed
information on investments in which Malaysia Airports has no controlling interest is not included.
Through this report, we hope to give a comprehensive and holistic overview of the matters that influence our ability to create
value, including market challenges, risk management, strategies, governance, initiatives and key developments.
About This Report
Concept of Value Creation and Materiality
Value Creation
Our focus on value creation is driven by championing connectivity as a global airport group and sustainability of airport
communities that we serve. We relentlessly strategise on the mobilisation of our six capitals to coordinate, educate, support
and collaborate with our stakeholders and monitor value creation outcomes to enhance resiliency. As we navigate ongoing
transformation towards progressive recovery, our goal is to enhance interaction with stakeholders, providing material insights that
consider inter-relatedness and dependencies between factors that drive our value creation journey. Our value creation model is
further disclosed on pages 24 to 79.
Materiality
Malaysia Airports applies the principle of materiality to determine the content of our integrated report and defines materiality as
matters that substantially affect the Group’s ability to create and sustain value over the short, medium and long-term.
These matters were identified, prioritised and validated via a materiality assessment described in page 66. Our key stakeholders
were engaged during this process, and this has enabled the Group to incorporate their inputs into our business perspective. Our
strategic responses to these material matters are presented in pages 66 to 77.
Forward Looking Statement
This report contains forward looking statements, for example, Malaysia Airports’ future direction, strategies, and potential
opportunities for growth. These statements are based on various assumptions and are subject to a number of risks, uncertainties
and contingencies, many of which are beyond the control of the Group. Unanticipated events and actual future events may differ
materially from current expectations due to new business opportunities, changes in priorities by the Group and other factors.
Assurance
Malaysia Airports obtained independent third-party assurance for the following information:
Content Assurance Framework
Annual Financial Statements Reasonable assurance • Companies Act 2016

• Malaysian Financial Reporting Standards
• International Financial Reporting Standards
Statement on Risk Management Limited assurance • Bursa Malaysia Securities Berhad Listing
and Internal Control Requirements
Sustainability Report Limited assurance • GRI Standards for Sustainability Reporting – Core
Option
Information on Exclusions
Malaysia Airports’ disclosure appetite guides the limitations of information available in this report. As we strive to provide a
balance between positive and negative information, several requirements of the <IR> Framework have been excluded due to the
unavailability of reliable information or specific legal prohibitions.
Legends
Throughout this report, this following navigation icons are used to link our six capitals, key stakeholders, strategic themes and
enablers to material matters, risks, and performance.
CA P I T A L S s t akeholders
Financial Regulators and Government Vendors and Service Providers
Manufactured Employees Investors
Intellectual Airlines Local Community
Human Passengers The Media
Social Tenants
Natural
M at eria l matters
st r a t e g i c t h e me s Airport Capacity Economic Performance
Survivability Total Airport Experience Integrity and Anti-Corruption
Fixing the Basics Digitalisation Transportation and Connectivity
Horizontal Expansion Airport Safety and Security Regulatory Compliance
Digitalisation
Critical Asset Replacement

e nabl e rs
Operational Excellence Communications and
and Innovation Branding
Governance and Process Human Capital

Chairman’s Statement
Dear Stakeholders,
In an unprecedented
year and amidst the most
challenging business
conditions that the entire
aviation industry has ever
faced globally, Malaysia
Airports had adopted
a positive mindset
throughout the year. This
positive mindset which
has shaped our pandemic
response is underpinned
by four underlying factors
– readiness, clarity, speed
and empathy.
Dato’ Seri Diraja

Dr. Zambry Abd Kadir
Chairman
Our approach in handling the pandemic was to be agile,

decisive and methodical with the objective of finding
synergistic solutions that would benefit the Group and all its
stakeholders. This holds true at every level of the Group, from
the Board to the Management, from frontliners to support staff
in the back office.
Although this financial year was the first loss-making year

in the history of Malaysia Airports, we remain heartened by
the progress we had made on several fronts. In this regard,
Malaysia Airports, together with our stakeholders, are on the
right track towards preparing for the resumption of air travel
when travel restrictions are eased. That is why we have chosen
‘Emerging Stronger Together’ as the theme to encapsulate
this unprecedented year.
Readiness
As an airport operator, readiness is a byword in the business.

We constantly strive for the highest level of preparedness, The Airport Emergency Plans are regularly tested in airport
meticulously planning for any eventuality. The Airport emergency exercises, which are safety exercises that involve
Emergency Plans for our airports contain detailed contingency simulations of emergency scenarios designed to assess the
plans including responses to health threats – taking the cue efficacy of the planned response, the readiness of our people
from other deadly viral outbreaks such as the Severe Acute and the inter-agency coordination to respond effectively in
Respiratory Syndrome (SARS) in 2003 and the global H1N1 different emergency scenarios. Therefore, as early as January,
flu pandemic in 2009. We had also been on high alert for the we activated the Airport Emergency Plan so that operationally,
Middle East Respiratory Syndrome (MERS) in 2013, Ebola in we could coordinate the response to the growing spread of
2014, and Zika in 2016. the COVID-19 virus.
Consequently, the KUL COVID-19 Committee was formed

in January with stakeholders such as the National Disaster
Management Agency (NADMA), the Ministry of Health, the
Royal Malaysian Police (PDRM), the Malaysia Civil Defence
Force (APM), Special Malaysia Assistance and Rescue Team
(SMART), Fire and Rescue Department of Malaysia (Jabatan
Bomba), The People’s Volunteer Corps (RELA), The Royal
Malaysian Customs and Immigration Department. The
Committee met weekly to formulate, implement, review
and improve operational processes in line with the Standard
Operating Procedures (SOPs) prescribed by the National
Security Council. This has been pivotal in maintaining a
robust and dynamic response to the pandemic at the nation’s
gateways – ensuring the safety of passengers and the airport
community while maintaining service levels at the airports and
protecting the nation against imported cases of COVID-19.
In addition, we activated the COVID-19 Corporate Crisis To reduce operating costs, a series of Cost Labs were held to
Management Team (CCMT) in March, chaired by the Group examine our operations, employing Lean Six Sigma approach
Chief Executive Officer and included members of the towards containing costs while achieving operational
Executive Committee. The CCMT is part of our business excellence. We challenged ourselves to rethink the way we
continuity plans and its role is to provide strategic direction and operate, to consider changing even the most entrenched ways
communications pertaining to the recovery and sustainability of doing business and to embrace new ways in which we could
of Malaysia Airports business operations, maintenance of achieve sustainable cost containment.
service levels and engagement with stakeholders throughout
the COVID-19 pandemic. The CCMT met weekly in 2020, a The plan does not only address what we foresee as our
testament to the intensity of our response and the importance near-term outlook in the next two years i.e. the ‘Survival and
of a hands-on approach by the Management. Recovery’ phase, it also outlines a ‘Growth and Transformation’
phase to position and prepare Malaysia Airports for future
Clarity growth. In preparing for the plan, a series of Transformation
Labs were held between March and July during which High
Our positive approach was also bolstered by the clarity we had Impact Projects and Transformational initiatives were identified
about the threats we were facing, the solutions and the action and presented to a Transformation Steering Committee.
plan.
The groundwork has enabled Malaysia Airports to produce
Through extensive stress-testing and scenario-planning, it ‘Future F.I.T.’, a 5-Year Strategy and Transformation Plan which
was clear to us that the most serious threat faced by Malaysia sets out the Group’s strategic direction for the next five years
Airports were that of cash flow and liquidity. This was because from 2021 to 2025. Premised on three pillars – Financially
the aeronautical business which was our main revenue driver sustainable, Impact driven and Technology focused - the
was experiencing severe disruptions due to travel restrictions roadmap comprises Phase 1 from now till 2022 which sets
as globally nations closed their borders and imposed out the direction for survival and recovery, and Phase 2 (2023-
quarantine requirements to curb the spread of COVID-19. 2025) which positions Malaysia Airports for future business
growth and sustainability. The Board approved Future F.I.T. in
Following that, Malaysia Airports formulated a COVID-19 November, and it is currently being implemented.
Recovery Plan, a group-wide response to navigate through
the crisis and mitigate its impact. The plan was presented to
the Board and was approved in March, setting out three main
strategies – cost containment, cash preservation and cash
recovery.
The plan called for capital expenditure to be reduced by 80%

through the prioritisation of maintenance capital expenditure
for critical projects, while deferring other development
projects. The plan also targeted to reduce operating costs by
at least 20%. As a result of this, we proceeded with only several
mission critical projects which required capital expenditure
– the replacement of the Baggage Handling System and
Aerotrain Track Transit System, runway rehabilitation, the
completion of the washroom refurbishment at KUL, the Single
Token Journey initiative to enable a contactless journey for
passengers from check-in to boarding, and the on-going
Commercial Reset.
Speed government of Malaysia, the Turkish Ministry of Defence

and the management of Hamad International Airport (IATA
Speed was of the essence for the successful execution of Code: DOH) in Doha, Qatar as we sought payment deferrals
our pandemic response. It was important for us to engage and leeway in the terms of the operating and concession
immediately with key stakeholders and to assure them that agreements.
we had a solid plan in place and to seek their cooperation to
execute it. Also included among the key stakeholders were the lenders
who had provided the syndicated term loan for the Istanbul
First, we needed to communicate with our people to obtain Sabiha Gökçen International Airport (IATA Code: SAW)
their buy-in and support for what was to be a radical departure concession, our bankers in Malaysia as well as sukuk holders
from business as usual. In early April, a townhall was held of Malaysia Airports’ Islamic Medium Term Notes. We also
in which our Group Chief Executive Officer addressed all engaged with investment analysts and the rating agencies
employees to present to them the new reality. In doing so, he to assure them that we had a solid plan in dealing with the
explained to our people how the pandemic would potentially demands and constraints of the situation, and how we are also
impact Malaysia Airports and the immediate steps that we had preparing for the Group’s future growth and sustainability.
to take to ensure the continued survival of the Group, and its
recovery from this crisis. Most importantly, he made it clear The early engagement with key stakeholders yielded crucial
that everyone at Malaysia Airports had a role in ensuring the results. The government of Malaysia agreed to defer the
survival and recovery of the Group, and that by remaining payment of user fees due under the Operating Agreements
united and steadfast in our efforts, we will emerge stronger (OAs) in 2020 to April 2021 and further agreed to relaxation
together from this crisis. As a result of this, we are heartened of Marginal Cost Support (MARCS) claims for 2020. The
to see that our employees have stood united with the Group government also expedited the payment of previous MARCS
and given their wholehearted support and effort in ensuring and tax refunds claimed by Malaysia Airports.
a brighter future for Malaysia Airports and our stakeholders.
For operations in Turkey, the Turkish government had agreed
We had also conducted extensive engagements with other to defer indefinitely the utilisation fee for SAW of EUR114.8
key stakeholders to kickstart the execution of the COVID-19 million originally due in January 2021. In relation to the
Recovery Plan. They include airport owners such as the syndicated loan, the lenders agreed to rearrange the facility,
extending the loan tenure by two years to 2025, and granting
a payment holiday for loan repayments due in December
2020 and June 2021. As a result, only EUR10 million is due for
repayment in 2021.
Despite the challenges of the operating environment, Malaysia

Airports maintained its credit ratings by Rating Agency of
Malaysia (RAM) and Moody’s. The strong credit ratings enabled
the Group to take advantage of the prevailing low interest rate
environment to redeem the existing Islamic Medium Term
Notes of RM1.0 billion which carried a 4.55% annual profit rate
in August, and in November to tap the Sukuk market to raise
funds under the Senior Sukuk programme. We succeeded in
raising RM700 million through the issuance of two tranches of
new Senior Sukuk of RM480 million (7-year tenure) and RM220
million (10-year tenure) with annual distribution of 3.3% and
3.6% respectively, marking the longest ever tenure and lowest
ever profit rates under the Senior Sukuk programme.
cashflow in 2020, as well as to keep costs in line with revenue

for 2021. In these initiatives, we have prioritised the small and
medium enterprises as they are more vulnerable to a sudden
loss of business from circumstances beyond their control.
We also reached out to our airline partners to prepare for the

resumption of flights to and from our network of airports when
air travel picks up. The Network Reconnecting Programme
offers a win-win proposition for airlines by reducing various
airport charges for those who had formally stated their
intention to resume flights to and from our airports. We also
extended the credit terms and worked out instalment schemes
to enable airlines to make payments of sums owed to Malaysia
Airports taking into consideration cash flow issues.
Keeping the growth momentum
In addition to shaping our pandemic response, our positive

Empathy mindset also ensured that the Group kept on a positive
trajectory in critical business areas, achieving its goals and
While it is important that we survive the pandemic and scoring several key wins.
strengthen our capabilities and capacity for future growth,
Malaysia Airports operates in an ecosystem which is both Maintaining public confidence in the safety of airports
inter-connected and inter-dependent – globally, regionally
and domestically. This has come into sharp focus during the The safety of passengers, employees and the airport
pandemic, which demonstrated how dependent stakeholders community is our paramount consideration to build public
are on one another. Lending a helping hand to other confidence in the safety of our airports and enable our
stakeholders who had been affected by the pandemic has employees and members of the airport community working on
been a key feature of our pandemic response. the frontlines of the pandemic to have peace of mind at work.
Internally, for our employees, many of whom brave the The new SOPs at airport terminals incorporate public health
frontlines of the pandemic, we have maintained the measures including physical distancing, the use of face masks,
employment of all our people, with the only exceptions contact tracing, temperature checks at terminal entrances and
being employees leaving due to retirement and other natural the availability of hand sanitisers throughout the terminal. We
attrition, and poor performance. We have also retrained our also installed new safety equipment at the airports including
staff for other roles, particularly airport staff such as aviation state-of-the-art thermal scanners, security scanners as well as
security officers. As the airport business is highly specialised, sneeze guards. We ensured that public areas were regularly
the key material matters of our business such as regulatory sanitised and used ultra-violet technology to sterilise handrails
compliance and airport safety and security make it necessary at walkalators and escalators, disinfect washrooms and
to maintain staffing for us to scale our operations as and when disinfect all arriving baggage at KUL.
travel restrictions are lifted.
In this regard, we also leveraged on Malaysia Airports’ prior
We have also extended assistance to commercial partners such investments in technology and digitalisation capabilities. We
as airport retailers and tenants. For airport retailers, we extended were therefore able to deploy our Airports 4.0 digitalisation
a six-month rental moratorium and structured a New Rental initiatives for a contactless experience to airport users.
Model moving forward. This has helped them to ease their For example, with the introduction of the Single Token
Journey initiative, passengers are able to navigate the Airports, is the first e-fulfilment hub for Alibaba located outside
airport’s touchpoints from check-in to boarding with a single of China. Despite disruption of works during the Movement
identification verification coupled with facial recognition Control Order, the eWTP hub was successfully completed on
technology. Other contactless measures include self check-in, schedule. This is also a game changer for Malaysia Airports in
self bag-drop, contactless security screening, and the use of boosting our cargo business as well as for the nation towards
e-wallets or mobile payment services at retail and food and becoming a significant player in the fast-growing e-commerce
beverage outlets. sector.
Top 10 global ranking for KUL Management contract for DOH renewed
One of our proudest achievements of the year was the return In the project and repair maintenance business, through
of KUL to the top 10 airports in the world in the above 40 Malaysia Airports Consultancy Services Middle East LLC
million passengers per annum (mppa) category as ranked (MACS ME), we secured the extension of the contract
by the Airports Council International through its Airport to provide management services at Doha International
Service Quality (ASQ) rankings. Considering that the top 10 is Airport, Qatar (IATA Code: DOH) for another five years from
traditionally dominated by newer airports, KUL at the age of December 2019 to December 2024. This is notable because
22 years making the top 10 is a testament to the hard work and we first secured the contract for an initial three years beginning
outstanding effort put in by all our employees and the other December 2014, and it had previously been extended for a
members of the KUL airport community. second term from December 2017 till December 2019. The
renewal for a third term for a further five years is testament
KUL’s overall score of 4.98 out of a possible 5.0 for the full year to our performance and operational excellence in delivering
was a big jump from 4.76 in 2019 when we ranked #17. This the contractual obligations and support services effectively at
achievement was driven primarily by several factors - fulfilling DOH, a five-star airport.
our brand promise of ‘Hosting Joyful Connections’ as well
the impact of the host culture transformation programme
to improve service quality among frontline workers at the
airport, the refurbishment of the washrooms at the airport as
well as the many enhancements that have been implemented
through the #1improvement1week initiative, all of which have
been in progress since 2017 onwards. Over and above that in
2020 alone, we implemented new safety measures at our own
cost amounting to RM15.0 million at KUL and other airports
as part of the new normal in air travel and to build confidence
among passengers on the safety of air travel.
Our determination and persistence in making the holistic

improvements needed to stand among the top 10 airports
in the world have certainly paid off, despite the additional
challenges posed by the pandemic.
E-commerce joint venture with Alibaba takes off
It was also a proud moment for us when the Cainiao Aeropolis

eWTP Hub became operational in November, covering over
100,000 sqm at KLIA Aeropolis. The facility which is a joint
venture (JV) between e-commerce titan Alibaba and Malaysia
Gold sustainability rating New and emerging risks
In terms of Malaysia Airports’ sustainability practices The Board also monitors the new and emerging risks that
and initiatives as well as the impact of the Group in the the Group may face. In addition to risks which came to the
environment, social and governance spheres, an independent fore in the year such as pandemic and liquidity risks, a key
review by RAM Sustainability resulted in the Group achieving development in this regard is the coming into force of the new
an overall gold rating, the highest of three available ratings. Section 17A of the Malaysian Anti-Corruption Commission
Malaysia Airports also received a gold rating for the social Act 2009 (MACC Act) on 1 June which introduces corporate
and governance spheres as well as for positive impact. For the liability on commercial organisations in Malaysia.
environment sphere, we received a silver rating.
The effect of Section 17A is that a company such as Malaysia
The rating reflects Malaysia Airports’ strong overall Airports may be liable to legal proceedings for corruption
sustainability performance after taking into consideration offences committed by persons associated with the Group.
its environment, social and governance and positive impact The Guidelines on Adequate Procedures issued by the
attributes. The rating also recognises that our sustainability MACC on Section 17A of the MACC Act provides guidance in
performance is driven by robust governance and its positive formulating and implementing procedures to prevent corrupt
impact on the economy and society. Among other matters, the practices.
rating report also highlights our dedication towards integrity
and anti-corruption as shown by the adoption of the ISO Consequently, we have conducted a risk assessment of our
37001: Anti-Bribery Management Systems. operations and addressed the vulnerabilities. Guidelines on
Anti-Corruption Due Diligence have also been developed
Board Activities and Corporate Governance to guide the relevant companies and divisions in the Group
on fulfilling the requirements of the MACC Act. To ensure
The Board of Directors of Malaysia Airports has played a wide-spread awareness on the new provisions of the law,
critical role in the Group’s response to the pandemic. The we developed online learning modules for employees to
Board members have brought their expertise and decades of learn about these anti-corruption provisions, with 100% of
experience to the table and engaged in in-depth discussions, employees having completed the e-learning course in 2020.
offering multitudes of opinions and approaches so that as
a collective body, we will arrive at the best solutions for the Thank you
Group. The Board met 16 times this year and has worked
closely with Management to strengthen the Group as we I would like to extend a warm welcome to our newest Board
steered our way through the year’s turbulence. members, Dato’ Mohamad Nasir Ab Latif who was appointed
on 1 October 2020, and Puan Normah Osman who was
Regulatory compliance appointed on 26 April 2021.
In the area of Corporate Governance, the Board is pleased The Board would also like to thank our former Chairman, Tan
to note that the stakeholders of the Group in reviewing the Sri Datuk Zainun Ali, as well as two other Board members,
material matters for our business has maintained ‘Regulatory Dato’ Jana Santhiran Muniayan and Hajah Jamilah Dato’
Compliance’ at the highest band of priority. Regulatory Hashim, who resigned in 2020. On behalf of the Board, I would
compliance has always been a corporate governance priority like to record our appreciation for their contribution towards
for Malaysia Airports because we operate within a highly the Group.
regulated industry, in which we are subject to international
and national laws and regulations, including environmental, In addition, the Board wishes to thank our employees who
social and operational regulations. The Board monitors closely have put up a brave front facing the trials and tribulations
the compliance with all applicable laws and regulations to of the pandemic, forming a strong and united workforce for
maintain the confidence of stakeholders in the integrity of the the Group. We acknowledge their many sacrifices during this
Group, the safety of operations as well as to protect against challenging year. As Malaysia Airports is categorised as a
legal liability and harm to our reputation. provider of essential services, many of our employees served
on the frontlines of this pandemic, risking their lives for the

greater public interest. Each of our employees scaled a steep
learning curve during the year and I hope, emerged stronger,
for their experience.
We also express our sincere appreciation to shareholders and

all other stakeholders - the various ministries, government
agencies, airline partners, retail partners, vendors and all other
business partners - for their support and contribution and
walking alongside us in facing the challenges and hurdles of
2020.
I would also like to make a special acknowledgement of

the role of the government of Malaysia in advancing our
discussions on the renewal of our Operating Agreements,
which form the basis for Malaysia Airports’ licence to operate
the 39 airports in Malaysia. While the Cabinet’s approval in
principle had been obtained for the extension of the OAs till
2069, the details of the agreements are being finalised with the
relevant government agencies.
We have made tremendous progress thanks to the spirit of

mutual cooperation and understanding that has prevailed, and
the willingness of government stakeholders to balance and
marry the interests of Malaysia Airports and our stakeholders
with government policies on the aviation industry. In this
regard, we believe the formal renewal of the OAs will be the
catalyst for further development and investment in the network
of airports in Malaysia.
Although this year has brought tremendous challenges, our

positive approach has influenced the course and direction
of stakeholder engagements. With the appreciation that ‘we
are all in this together’, we have arrived at win-win outcomes
for the Group and its stakeholders. Therefore in 2020,
despite the pressing concerns brought on by the pandemic,
Malaysia Airports continued to make a tangible difference for
stakeholders and discharged our duties as guardians of the
nation’s gateways.
Dato’ Seri Diraja Dr. Zambry Abd Kadir

Chairman
14 Malaysia Airports Holdings Berhad >> Our Business
FY2020 Key Highlights
Scope FY2020 FY2019 FY2018
Group Financial Performance

Revenue (RM'mil) Group 1,866.3 5,213.1 4,851.7
EBITDA (RM'mil) Group 21.6 2,292.0 2,383.5
Profit for the Year (RM'mil) Group (1,116.2) 537.0 727.3
Total Equity (RM'mil) Group 8,099.3 9,325.4 9,140.7
Airport Performance
Group Passenger Movements (mil) Group 43.0 141.2 133.2
Group Aircraft Movements Group 600,073 1,281,000 1,232,735
Group Cargo Movements (metric tonnes) Group 834,718 1,003,000 1,037,370
KUL ASQ rank (> 40 mppa category) KUL 10 17 14
KUL ASQ score KUL 4.98 4.76 4.70
Total Direct Destinations KUL 166 166 >120
SAW 130 >160 >160
Sustainability Performance
Energy Consumption (kWh/passenger) Airports in Malaysia 15.9 5.1 5.3
SAW 3.8 2.2 2.2
Solar Power Generated (MWh) KUL 16,949 18,763 18,284
Water Consumption (litre/passenger) Airports in Malaysia 365.5 104.7 127.3
SAW 12.8 10.2 10.1
Total Waste Generated (kg/passenger) KUL 0.36 0.23 0.27

SAW 0.27 0.14 0.13
Recycling Rate (%) KUL 8.3 13.8 5.7

SAW 33.3 50.5 47.1
Total Employees Group 10,333 10,724 10,799
Percentage of Female Employees (%) Group 34.2 34.6 33.4
Community Investment (RM) Group 417,839 1,066,847 1,373,919

Annual Report 2020 >> Our Business 15
At a Glance
Globally, Malaysia Airports is one of the world’s largest airport operator groups, based
on the total number of passengers handled, managing in total 39 airports throughout
Malaysia (five international airports, 16 domestic and 18 STOLports). the Group also
owns and manages one international airport in Istanbul, Turkey.
Our Malaysia operations comprises Competitive advantage

five key business activities which are • Malaysia is located in a strategic
airport services, duty free and non- location – in the heart of ASEAN,
dutiable goods, hotel, project and surrounded by high growth markets
repair maintenance and agriculture and such as China and India.
horticulture. For overseas operations, in • Competitive aeronautical and
addition to ownership and management passenger charges - one of the O U R VI SI O N
of Istanbul Sabiha Gökçen International lowest in the world. A Global Airport Group
Airport (IATA Code: SAW) in Istanbul, • Well-equipped airports with that Champions Connectivity
Turkey, we also provide services for safety standards certified by and Sustainability
operations and maintenance of airports global bodies such as ISO, British
and airport-related services. Standards Institution, and ACI.
• Our flagship, KUL, is ranked within
Listed on the Main Market of Bursa the Top 10 airports globally for >40
Malaysia since November 1999, at the mppa under ACI’s Airport Service
end of 2020, Malaysia Airports’ market Quality rankings.
capitalisation stood at RM9.8 billion. • KUL’s two terminals have a
combined capacity of 75 mppa.
We are a constituent of the FTSE4Good • KUL’s three independent runway
BR AN D P R O M I SE
Bursa Malaysia Index and as a signatory system facilitates efficient flight Hosting Joyful Connections
to the Aviation Industry Commitment operations.
to Action on Climate Change, we • 100km2 land bank surrounding
strive to create a pathway to carbon- KUL allows for aviation-related and
neutral growth and a carbon-free commercial development.
future. Malaysia Airports also holds • SAW's strong hub position
memberships in the Airports Council within the region, evidenced by
International (ACI) and the ACI Asia its consistent ranking as one of
Pacific Regional Environmental Europe's busiest airports.
Committee.
C o r e Val u es
Post COVID-19 pandemic, Malaysia Integrity
Airports is well-positioned to benefit
from the recovery of the aviation industry
Customer-Centricity
through the strong hub advantage of Accountability
leading low-cost carriers while also New Ideas
leveraging on the connectivity and
network of home-based full-service
carriers for both its operations in
Malaysia and Turkey.
Highlights by
Key B us iness Ac tivities
> A irpo r t Ser vic es Financial

Manage, operate and maintain airports, and
provide airport-related services to ensure that Equity invested Total revenue
airports operate efficiently, safely and securely
and maintaining high service levels FY2020 : RM4,419.3 mil FY2020 : RM1,741.9 mil
FY2019 : RM4,419.3 mil FY2019 : RM4,458.3 mil
FY2018 : RM4,419.3 mil FY2018 : RM4,096.0 mil
> Duty Free and Non-Dutiable Goods Financial

Operate duty-free outlets and provide
management services for food and beverage Equity invested Total revenue
outlets at designated airports
FY2020 : RM16.5 mil FY2020 : RM155.4 mil
FY2019 : RM16.5 mil FY2019 : RM854.5 mil
FY2018 : RM16.5 mil FY2018 : RM834.2 mil
> Hotel Financial

Manage and operate hotels
Equity invested Total revenue
FY2020 : RM92.7 mil FY2020 : RM43.7 mil

FY2019 : RM92.7 mil FY2019 : RM93.3 mil
FY2018 : RM92.7 mil FY2018 : RM92.5 mil
> Proj ec t an d R ep air Main ten ance Financial

Offer consultancy, facility management
services and maintenance of information and Equity invested Total revenue
communication technology business ventures
and provision of mechanical and electrical FY2020 : RM7.5 mil FY2020 : RM211.8 mil
engineering FY2019 : RM7.5 mil FY2019 : RM287.1 mil
FY2018 : RM7.5 mil FY2018 : RM240.3 mil
> A gric u ltu r e an d H o r tic u ltu r e Financial

Cultivate and manage oil palm and other
agricultural products, in addition to undertaking Equity invested Total revenue
horticulture activities, mainly landscaping
services and products FY2020 : RM9.0 mil FY2020 : RM42.4 mil
FY2019 : RM9.0 mil FY2019 : RM33.9 mil
FY2018 : RM9.0 mil FY2018 : RM36.9 mil
Manufactured Intellectual Social and Relationship
E B I T DA Group passenger Number of airports Number of

traffic movements operated employees
FY2020 : RM109.8 mil FY2020 : 43.0 mil FY2020 : 40 FY2020 : 8,577
FY2019 : RM2,195.4 mil FY2019 : 141.2 mil FY2019 : 40 FY2019 : 8,664
FY2018 : RM1,974.9 mil FY2018 : 133.2 mil FY2018 : 40 FY2018 : 9,058
Manufactured Social and Relationship
E B I T DA NUM BER OF RETAIL AREA* Number of

RE T AIL OUT L ET S * ( SQM) employees
FY2020 : RM-89.2 mil FY2020 : 52 FY2020 : 13,112 FY2020 : 775
FY2019 : RM53.2 mil FY2019 : 54 FY2019 : 13,745 FY2019 : 982
FY2018 : RM75.5 mil FY2018 : 51 FY2018 : 14,045 FY2018 : 979
* Data is in reference to MA(Niaga)
Manufactured Social and Relationship
E B I T DA Number of Number of Number of

hotels rooms employees
FY2020 : RM2.8 mil FY2020 : 4 FY2020 : 720 FY2020 : 413
FY2019 : RM32.3 mil FY2019 : 4 FY2019 : 720 FY2019 : 398
FY2018 : RM24.0 mil FY2018 : 4 FY2018 : 442 FY2018 : 405
Social and Relationship
E B I T DA Number of
employees
FY2020 : RM40.3 mil FY2020 : 591
FY2019 : RM70.0 mil FY2019 : 646
FY2018 : RM40.3 mil FY2018 : 323
Natural Social and Relationship
E B I T DA Oil - palm planted area Fresh fruit bunches Number of

(ha) ( MT) employees
FY2020 : RM10.3 mil FY2020 : 6,632.1 FY2020 : 60,444.0 FY2020 : 28
FY2019 : RM5.0 mil FY2019 : 6,646.3 FY2019 : 62,967.6 FY2019 : 34
FY2018 : RM8.1 mil FY2018 : 6,646.3 FY2018 : 65,917.1 FY2018 : 34
Where We Operate
Langkawi (LGK)
4.0 mppa Kota Bharu (KBR)
Alor Setar (AOR)
1.5 mppa
0.8 mppa
Pulau Redang (RDN)
Penang (PEN)
6.5 mppa Kuala Terengganu (TGG)
1.5 mppa
Ipoh (IPH)
0.5 mppa
Pulau Pangkor (PKG)
Istanbul Sabiha Gökçen Kuantan (KUA)
International Airport (SAW) 1.3 mppa
Subang (SZB)
Turkey 1.5 mppa
41.0 mppa
100% shareholding KL International Airport (KUL)
KLIA1 klia2
Melaka (MKZ) Pulau Tioman (TOD)
30.0 mppa 45.0 mppa
Rajiv Gandhi 1.5 mppa
International Airport (HYD)
INDIA
25.0 mppa
11% shareholding
Airport Services
Malaysia TURKEY INDIA
• KL International Airport (KUL) • Istanbul Sabiha Gökçen International • Rajiv Gandhi International Airport
INTERNATIONAL • Kota Kinabalu International Airport Airport (SAW) (HYD)
(BKI)
• Kuching International Airport (KCH)
• Langkawi International Airport (LGK)
• Penang International Airport (PEN)
• Melaka Airport (MKZ) • Sultan Ismail Petra Airport, • Mulu Airport (MZV)
• Sultan Abdul Aziz Shah Airport, Kota Bharu (KBR) • Sibu Airport (SBW)
Domestic Subang (SZB) • Sultan Mahmud Airport, • Labuan Airport (LBU)
• Sultan Abdul Halim Airport, Kuala Terengganu (TGG) • Lahad Datu Airport (LDU)
Alor Setar (AOR) • Bintulu Airport (BTU) • Sandakan Airport (SDK)
• Sultan Ahmad Shah Airport, • Limbang Airport (LMN) • Tawau Airport (TWU)
Kuantan (KUA) • Miri Airport (MYY)
• Sultan Azlan Shah Airport, Ipoh (IPH)
• Pulau Pangkor (PKG) • Kapit (KPI) • Long Seridan (ODN)

• Pulau Redang (RDN) • Lawas (LWY) • Marudi (MUR)
Short Take-Off • Pulau Tioman (TOD) • Long Akah (LKH) • Mukah (MKM)
and Landing Ports
• Bakelalan (BKM) • Long Banga (LBP) • Kudat (KUD)
(STOLPORTS)
• Bario (BBN) • Long Lellang (LGL) • Long Pasia (GSA)
• Belaga (BLG) • Long Semado (LSM) • Semporna (SMM)
Kudat (KUD)
Kota Kinabalu (BKI)

9.0 mppa Sandakan (SDK)
1.5 mppa
Labuan (LBU)
2.2 mppa
Lahad Datu (LDU)
Limbang (LMN) 0.1 mppa
0.3 mppa Lawas (LWY)
Miri (MYY)
2.0 mppa Mulu (MZV) Long Pasia (GSA) Semporna (SMM)
0.05 mppa Long Semado (LSM)
Marudi (MUR)
Bakelalan (BKM) Tawau (TWU)
Long Seridan (ODN) 1.5 mppa
Bario (BBN)
Long Lellang (LGL)
Bintulu (BTU)
1.0 mppa Long Akah (LKH) Long Banga
Mukah (MKM) Belaga (BLG)
Sibu (SBW)
1.8 mppa
Kapit (KPI)
Kuching (KCH)
5.3 mppa
Duty Free and Non-Dutiable Goods Project and Repair Maintenance

• KL International Airport (KUL) Airports
• Kota Kinabalu International Airport (BKI) • KL International Airport (KUL)
• Kuching International Airport (KCH) • Kota Kinabalu International Airport (BKI)
• Langkawi International Airport (LGK) • Kuching International Airport (KCH)
• Penang International Airport (PEN) • Langkawi International Airport (LGK)
• Sultan Abdul Aziz Shah Airport, Subang (SZB) • Penang International Airport (PEN)
• Sultan Abdul Aziz Shah Airport, Subang (SZB)
• Istanbul Sabiha Gökçen International Airport (SAW)
• Hamad International Airport (DOH)
Port
Agriculture and Horticulture
• Port of Tg Pelepas
• KL International Airport (KUL)
• Bintulu Airport (BTU) Commercial buildings
• Miri Airport (MYY) • Airbus Helicopters Malaysia
• Sibu Airport (SBW) • Cainiao Aeropolis eWTP Hub
• Exxon Mobil
• Masjid As-Syakirin KLCC
Hotel
• Maxis Tower
Four locations in and around KUL and SAW: • Novugen Pharma (Malaysia)
• KLIA1 landside • Persada PLUS
• KLIA1 airside • Petronas Tower 3
• klia2 airside • Sepang International Circuit
• SAW landside • SPIRIT Aerosystems Malaysia
Corporate Structure
MALAYSIA AIRPORTS HOLDINGS BERHAD
Malaysia Airports Sdn Bhd

100%
Malaysia Airports (Sepang) Sdn Bhd
30% MFMA Development Sdn Bhd
Malaysia Airports Consultancy Services Sdn Bhd
100% Urusan Teknologi Wawasan Sdn Bhd
49% Malaysia Airports Consultancy Services Middle East LLC
Malaysia International Aerospace Centre Sdn Bhd
Malaysia Airports (Niaga) Sdn Bhd
100% Eraman (Malaysia) Sdn Bhd
Malaysia Airports (Properties) Sdn Bhd
100% K.L. Airport Hotel Sdn Bhd
100% MAB Agriculture-Horticulture Sdn Bhd
20% Kuala Lumpur Aviation Fuelling System Sdn Bhd
Airport Ventures Sdn Bhd
100% Malaysia Airports Technologies Sdn Bhd
100% Malaysia Airports MSC Sdn Bhd
40% İstanbul Sabiha Gökçen Uluslararası Havalimanı Yatırım Yapım ve

İşletme A.Ş.
40% SGC Havalimanı İşletmeleri Ticaret ve Turizm A.Ş.
30% Cooling Energy Supply Sdn Bhd

Malaysia Airports Capital Berhad

100%
Malaysia Airports Cities Sdn Bhd
40% İstanbul Sabiha Gökçen Uluslararası Havalimanı Yatırım Yapım ve İşletme A.Ş.
40% SGC Havalimanı İşletmeleri Ticaret ve Turizm A.Ş.
KLIA Aeropolis Sdn Bhd
Malaysia Airports International Sdn Bhd
MA Elogistics Sdn Bhd
30% Alibaba KLIA Aeropolis Sdn Bhd (formerly known as Cainiao KLIA Aeropolis Sdn Bhd)
Malaysia Airports (Subang) Sdn Bhd
30% BP Malaysia Airports Subang Aerotech Sdn Bhd
MAHB (Mauritius) Private Limited
Malaysia Airports (Labuan) Private Limited
30% Segi Astana Sdn Bhd
23% Airport Cooling Energy Supply Sdn Bhd
İstanbul Sabiha Gökçen Uluslararası Havalimanı Yatırım Yapım ve İşletme A.Ş.

20%
SGC Havalimanı İşletmeleri Ticaret ve Turizm A.Ş.
Key Milestones
Background
In 1991, the Malaysian Parliament

passed an act that reshaped the
Malaysian aviation industry. The result
of that was asset ownership of airports
in Malaysia was separated from the 19 9 2 19 9 8
regulation of the industry. Following Establishment of Opening of KLIA
that, Malaysia Airports Berhad was Malaysia Airports
incorporated in 1992 to maintain,
manage and operate airports while
the Department of Civil Aviation (now
known as the Civil Aviation Authority of
Malaysia) remained as the regulator.
In 1999, Malaysia Airports was listed on

the Main Board of the Kuala Lumpur
Stock Exchange (now Bursa Malaysia),
the first airport operator in Asia, and the
sixth in the world, to be publicly listed.
Today, Malaysia Airports operates

39 airports in Malaysia including KL
2 015 2 015
• Graduation from GLC Transformation Full Acquisition of Istanbul Sabiha Gökçen
International Airport (IATA Code: KUL).
Programme International Airport in Turkey
It also owns and operates Istanbul
• Opening of Mitsui Outlet Park KLIA
Sabiha Gökçen International Airport
Sepang
(IATA Code: SAW) in Turkey.
In 2019, the government of Malaysia

approved the extension of the
Operating Agreements to operate and
manage the 39 airports until 2069.
2 01 6 2 017 2 018
• Launch of KLIA Aeropolis Ground Breaking of KLIA Aeropolis • Ground Breaking of Subang Aerotech
DFTZ Park Park
• Expansion of Langkawi International
Airport
1999 2 004 2 006

Listing of Malaysia Airports on Transfer of 50% Minister of Finance Malaysia Airports becomes one of
KLSE Main Board (now Main Market (Inc) stake to Khazanah Nasional Khazanah Nasional’s top 20 GLCs
of Bursa Malaysia)
2 01 4 2 013 2 010
Opening of KUL’s Launching of klia2 Ground
second terminal, klia2 Sama-Sama Hotel Breaking Ceremony
2 01 9 2 019 2 02 0
Extension of Malaysia Airports’ Brand refresh • Launch of shopMYairports e-commerce
Operating Agreements for Eraman platform
• Operationalisation of Cainiao Aeropolis
eWTP Hub
24 Malaysia Airports Holdings Berhad >> Our Value Creation Strategy
Value Creation Model
Our position in the airport value chain
Malaysia Airports is responsible for the operational safety and security, management and maintenance of the airports. The services
and facilities provided are divided into two main sections known as the landside (terminal, carpark and any other public areas on
airport land) and the airside (aprons, runways, and taxiways).
Malaysia Airports works with key agencies such as the Civil Aviation Authority of Malaysia (CAAM) to ensure the safety and
security of airport operations, particularly at the airside through regulations, oversight and monitoring of the technical and safety
standards. The Air Traffic Control under CAAM coordinates aircraft navigation and is responsible for the safe movement of aircraft,
including take-offs, landings, and taxiing.
In ensuring effective and efficient management at our airports, Malaysia Airports collaborates with a range of partners, for
instance, government agencies such as the Immigration Department of Malaysia and Royal Malaysian Customs Department as
well as private entities such as airlines and ground handlers. Malaysia Airports works closely with these parties in key areas at
checkpoints such as check-in, immigration, customs checks, and baggage and ground handling.
We provide a seamless end-to-end journey for passengers throughout our airports from the onset of their journeys as they arrive
by car, bus and train up until the boarding gates. We also offer a wide of range of retail and food and beverages outlets, operated
by Malaysia Airports and its business partners, for passengers, meeters and greeters.
In addressing the COVID-19 pandemic, we have given full support to the Ministry of Health (MOH) in implementing health
and safety measures at our airports. These include the placement of thermal scanners at the airport and physical distancing
markers as well as the implementation of COVID-19 screening by MOH personnel for all passengers at the departing and arriving
touchpoints at our airports.
Annual Report 2020 >> Our Value Creation Strategy 25
Cargo and Available

Ground Runway
Handling Cargo
Facilities
Air Traffic
Control Tower
Catering
Taxiway
Cleaning Refuelling
Airside
Aerobridge Landside
Fixed electrical
ground power
Gate
Security Check and

Screening - AVSEC
Wayfinding
Retail,
F&B, Lounge
Passport Check - Baggage
Immigration Handling
System
Boarding Pass Check - Customs

TERMINAL
AVSEC Check
MYairports
Mobile App
by Malaysia Retail Retail, F&B,
Airports Check-in /
Shops Baggage drop Lounge
Parking
Home MYairports Mobile App

by Malaysia Airports Transportation
MAHB Departures
MAHB works with airlines Transfers
MAHB works with Immigration Department Arrivals
MAHB works with ground handlers and airline staff Baggage Handling System (BHS) handled by MAHB and ground handlers
MAHB works with Royal Malaysian Customs Department Aircraft handling at aircraft stand
MAHB works with CAAM Aircraft departs or lands at airport
Note: The illustration above reflects Malaysia Airports’ operations in Malaysia only, representing the majority of the airports operated by the Group.

At Malaysia Airports, our vision is to be

a global airport group that champions
connectivity and sustainability and we seek
to create value for our key stakeholders in
a positive and sustainable way.
Our value creation model takes inputs from our capitals –

financial, manufactured, intellectual, human, social and natural
capitals – and transforms them through our business activities
and interactions to produce outputs and outcomes that over
time have the potential to create value for our business, our
key stakeholders and the environment in which we operate.
The operating environment, feedback from stakeholder

engagements, risks and opportunities are taken into
consideration in formulating our strategies and action plans
towards achieving overall long term goals and objectives.
In embedding sustainability in our business, Malaysia Airports

is guided by its Sustainability Policy and Sustainability
Framework. The Sustainability Framework comprises five
pillars which encompass the Material Matters of our business.
The Framework is also aligned with relevant provisions of the
United Nations Sustainable Development Goals (SDGs).
H ow We C r e at e Val ue F or Our Ke y S t akeholders
OU R VISIO N BRAND PROMISE CA P I TA L

A Global Airport Group that Champions Hosting Joyful Connections
Connectivity and Sustainability FINANCIAL
Financial capital is a vital input in funding
O U R KE Y BUSINESS ACTIVITIES S US TA I NA B I L I TY P OL I CY our operations and growth. We obtain
financial capital from three main sources,
namely: debt, equity and operating cash
Airport services
flows generated from business activities.
Duty free and non-dutiable goods M A TERI A L M A TTERS
Hotel MANUFACTURED
Project and repair maintenance
Econom i c
We incur capital expenditure in
Achieving economic growth through
infrastructure investment for the
Agriculture and horticulture effective innovation, improved maintenance and upgrade of our airports
productivity and reliability to deliver exceptional service to our
customers and passengers.
Futur e F.I.T.
Envi ronm ent
Phase 1 Phase 2 Improving efficiency and mitigating INTELLECTUAL
(2021 - 2022) (2023 - 2025) possible negative environmental impacts
Our experience and reputation has led
brought on by our operations to our advisory capabilities being sought
Survivability Maximising
after by local and international airport
Revenue companies to aid their development and
Fixing the Basics Generation S oci a l management.
Horizontal Creating a memorable experience for
Expansion Developing airport guests, fostering an inspiring
New Capabilities workplace and strengthening our HUMAN
Digitalisation relationships with local communities
Our employees are the main drivers for our
Critical Asset Ensuring Business success. We develop a high-performing
Replacement Sustainability team by focusing on their training and
S US TA I NA B I L I TY P I L L A RS development, conducting meaningful
employee engagement and enhancing
En abler s employee benefits.
Practising Sensible Economics

Operational Excellence and Innovation SOCIAL
Governance and Process Quality relationships and a positive
reputation with our key stakeholders
Communications and Branding Environmental Consciousness underpin our value mandate. The
government is one of our main stakeholders
Human Capital and we support their mandate through
social and transformation imperatives.
Creating An Inspiring Workplace
R ISKS NATURAL
Financial We manage our environmental impact
Community-Friendly Organisation through an environmental management
Health and Safety system which ensures compliance with
environmental legislation.
Operational
Memorable Airport Experience
Strategic
Ope r a t i n g E nv i r on m e n t Gove r n a nce

U n der p in n ed By ( Pg. 30-32) ( Pg. 154-18 2)
INP U T OUTPUT OUTCOME FOR OUR STAKEHOLDERS SDGs

(Link to Sustainability Pillars)
Investors Practising Sensible

• Enhancing shareholder value Economics
• Share capital of RM5,114.3 mil • Total Revenue of RM1,866.3 mil
• Borrowings of RM4,932.7 mil • Total EBITDA of RM21.6 mil • Sustainable growth and earnings
• Cash and cash equivalents of • Borrowings of RM4,644.7 mil
RM1,453.1 mil • Cash and cash equivalents of
• Quoted unit trust and bond RM973.7 mil Airlines and Passengers
investments of RM1,777.7 mil • Quoted unit trust and bond
investments of RM743.4 mil • High airport connectivity
• Airport Service Quality (ASQ) rank
and score
Environmental
• Terminals, technical facilities, car • No. of airlines • Enhanced operational efficiency and Consciousness
parks, hotels (passenger and cargo): 123 service levels
• Aprons, taxiways, runways • Aircraft movements: 585,264
• Passenger traffic movement 43.0 mil • Improved safety and security for
• Number of retail outlets 670
• Total Investment for property, plant • Cargo handled (tonnes): 833,939 enhanced passenger experience
• Retail occupancy rate: • Enhanced brand equity
and equipment RM1,129.4 mil • With MA (Niaga): 77%
• Without MA (Niaga): 70%
Employees
• Concession rights to operate airports • Efficient business operations • Highly engaged workforce
• IT infrastructure • Safety and security of airports • Accountable leaders
• Big Data Analytics • Contactless airport technology • Health, safety and well being of
• Commercial development • Improved passenger experience Creating An
• Employee skills and technical expertise employees Inspiring Workplace
• shopMYairports and shop@SAW
• Stakeholder relationships e-commerce platforms
Tenants, Vendors and Local

Communities
• Number of employees 10,333 • Diversified workforce • Provide affordable transportation
• Customer-centric culture • Overall retention rate connectivity to remote parts of
• Total investment for employee • Total spent on employee benefits
Malaysia
training and development RM2.9 mil RM742.6 mil
• Contribution to the local economy Community-Friendly
• Occupational safety and health • Retention rate: 92.9%
of where we operate Organisation
• Provide local employment
• Develop local SME businesses in
airports
• Proactive engagement and • Total user fees and taxes contributed
dialogue with stakeholders through a to the government RM203.0 mil
wide range of channels • Commercial partners to benefit from
• Collaborations with stakeholders and Regulators and Government
government bodies rebates, rental reduction, new retail • Contribution to the GDP of the
• Public-private partnerships with rental model of RM212.4 mil
country
government • Brand sentiment score of 0.47
• Enhanced health and safety through
collaboration with Ministry of Health
Memorable Airport
• KUL obtained Level 3 Airport Experience
• Sustainability Policy • Carbon emissions Carbon Certification accreditation
• Energy management • Electricity consumption • Carbon emission reduction from
• Renewable energy • Solar power generated renewable energy
• Waste management • Waste generated and recycled • Malaysia Sustainable Palm Oil
• Noise management
• Water consumption (MSPO) certification for MAAH
• Biodiversity protection
RISKS AND O P P O RTU NITI E S St a ke h o l d e r E n ga ge m e n t Sust a i n a b i li t y St r a t e gi c Pe r f or m a n c e

( P g . 1 83 - 1 90) (P g. 57 - 6 4 ) ( Pg. 54-56 ) ( Pg. 33-53)
OPERATING ENVIRONMENT and OUTLOOK
UNDERSTANDING OUR OPERATING ENVIRONMENT
The external operating setting impacts our profitability and business continuity, risk management and the decisions we make on
our strategy. It also informs our prioritisation of material matters. We continuously monitor changes in our operating environment
that have a material impact on our business model, which in turn determine our strategy on mitigating emerging risks and
capturing new opportunities.
THE COVID-19 PANDEMIC
Description • Implementation of measures to strengthen financial

position and manage liquidity risk.
Due to the COVID-19 pandemic, countries globally have
closed international borders and imposed strict travel • Expedite the implementation of contactless technology
restrictions (including quarantine requirements) to curb the to provide passengers with an enhanced, safe and
spread of the virus. contactless airport experience.
The aviation industry has been brought to a standstill due to • Introduction of the Malaysia Airports’ Future F.I.T. Plan
flight suspensions and cancellations, impacting the industry’s focusing on survival and recovery in light of the COVID-19
profitability, ability to generate cash and preserve liquidity. pandemic and positioning ourselves for long-term
business growth and sustainability.
At the same time, airport operators globally have been
working closely with governments to facilitate COVID-19 For more information on Our Response, please refer to the
screening measures at airports to ensure the latest health and Strategy section on page 66 to page 77 of this <IR>
safety requirements are adhered to.
Outlook
Our Response
The COVID-19 vaccine roll-out had begun worldwide in
Our response in addressing the impact of the COVID-19 December 2020 with the aim of expediting global herd
pandemic include the following: immunity.
• Establishment of the KUL COVID-19 Committee, The successful roll-out and effectiveness of COVID-19 vaccines
comprising airport management, government agencies will expedite the recovery of the global economy and return
and related stakeholders. to normalcy.
• Collaboration with the Ministry of Health and other

relevant agencies and airlines to ensure public health and
safety at our airports.
Strategic Themes:
Survivability Fixing the Digitalisation Critical Asset

Basics Replacement
ECONOMIC CONTEXT
Description Other measures include:

• Ensuring the continuous operations of all airports within
Global supply and demand shocks, lockdowns and travel the Group to maintain domestic and international air
restrictions due to COVID-19 had resulted in a contraction connectivity for travel and trade despite the slowdown in
of global GDP by 3.3% in 2020 according to the International economic activity.
Monetary Fund (IMF). • Provided airline and retail partners with incentives, rebates
and other relief packages to preserve their operations and
The Malaysian economy for 2020 contracted by 5.6% (IMF) due ensure business sustainability in anticipation of air traffic
to the restrictions on mobility, especially on inter-district and recovery and future growth.
inter-state travel which weighed heavily on economic activity.
For more information on Our Response, please refer to the
Our Response Strategy section on page 33 to page 45 of this <IR>
The Future F.I.T. outlines the strategies for recovery and growth Outlook
which include the following:
The IMF has projected that the global economy will grow 6.0%
• Enhance safety and health measures - ensure airport in 2021 supported by the following:
operational readiness focusing on hygiene, safety and
health of passengers, the public and airport community to • Effective vaccine roll-out to strengthen economic activity.
restore travel confidence. • Additional policy support in key large economies.
• Effective cost containment measures, on top of the
deferment of non-critical capital expenditure projects to The Malaysian economy is expected to recover in 2021 with a
continuously sustain operations across Malaysia and Turkey 6.5% (IMF) GDP growth, supported by:
in light of the COVID-19 economic impact.
• Optimise operating costs through digital transformation • Effective vaccine roll-out which will help restore business
and process automation. confidence and stimulate economic activity.
• Adapt latest technological innovations including digital • Turnaround in public and private sector expenditure.
services and contactless touchpoints. • Continued policy support by the Government such as
• Undertaking of critical maintenance CAPEX projects PENJANA, KITA PRIHATIN and i-Sinar.
including network upgrade, washroom refurbishments and
runway rehabilitation to ensure readiness in anticipation of While near-term growth in 2021 will be affected by the re-
a recovery in air travel in the future. introduction of stricter containment measures, the impact,
• Tap new opportunities and unlock additional revenue however, will be less severe than that experienced in 2020.
streams. The growth trajectory is projected to improve from the second
• Grow non-aero revenue and improve business performance. quarter onwards.
Strategic Themes:
Survivability Fixing the Horizontal Digitalisation Critical Asset

Basics Expansion Replacement
OPERATING ENVIRONMENT and OUTLOOK
AIR TRANSPORT SECTOR
Description For more information on Our Response, please refer to the

Strategy section on page 33 to page 45 of this <IR>
The aviation industry had been brought to a standstill in
2020 due to flight suspensions and cancellations caused by Outlook
COVID-19, resulting in worldwide declines in capacity and
passenger demand. The availability of vaccines in 2021 is anticipated to be a
turning point for the aviation industry, but the recovery will be
As a result, airlines and airports worldwide experienced gradual due to the phased distribution of the vaccines.
reductions in revenue and deep losses. To remain afloat and
operational, cost-cutting measures were implemented, with The vaccine roll-out and effectiveness is key for traffic recovery
some Governments having to provide financial aid to further and restoring travel confidence, supported by other critical
support and boost the industry. measures, such as:
Our Response - Unified travel pass system (i.e vaccine passport, digital
health certificates etc).
Our response in overcoming the challenges faced in the sector: - Standard reciprocal travel regulations and guidelines
between countries on health and safety of passengers.
• Ensure the continuous operations of all airports within - Health and safety measures at airports and airline facilities
the Group to maintain domestic and international air and contactless touchpoints.
connectivity for travel and trade.
• Assure passengers of health and safety measures in place In addition, the return of passenger demand will depend
at airports to travel safely and comfortably in order to on the efficient coordination among countries and gradual
instil and restore confidence in air travel. network reopening.
• Active engagement with airlines and key stakeholders
through programmes and collaborations to induce the The International Air Transport Association (IATA) has
recovery of domestic and international travel. forecasted that global demand for air travel will improve by
• Provide airline and retail partners with incentives, rebates 26% year-on-year in 2021 following 2020's steep decline.
and other relief packages to preserve their operations and
ensure business sustainability in anticipation of air traffic The domestic sector is expected to lead traffic recovery while
recovery and future growth. international sector recovery is expected to gradually improve
• Continuing discussions to secure new passenger airlines once borders are open with more reciprocal arrangements
and freighter operators. such as green lanes and travel bubbles.
Strategic Themes:
Survivability Horizontal
Expansion
INTRODUC TION TO STRATEGY

MALAYSIA AIRPORTS FUTURE F.I.T.
COVID-19 brought unprecedented negative impact to the aviation industry globally.

Malaysia Airports and its partners have had to work closer together than ever as the
industry moves to a tipping point. Despite the challenges, the Group remains resilient
and committed to deliver long-term value for its key stakeholders through the execution
of a new 5-year strategy – Malaysia Airports Future F.I.T.
Our strategy is developed by taking into consideration our external environment, risks and opportunities as well as matters that
could affect the achievement of strategic objectives and substantively the Group’s ability to create value over time.
The COVID-19 pandemic had brought sudden and unprecedented challenges to our business operations, resulting in massive
revenue shortfall due to the rapid decline in air travel demand. Despite that, the safety and comfort of passengers continue to be
our top priority. We focus on being continuously proactive by working collaboratively with our partners in order to meet the needs
of passengers and survive the crisis.
While we focus on surviving and stabilising from the impact of the COVID-19 pandemic, our strategy will chart a path forward
to continue the momentum to recovery and capture potential growth by strengthening capabilities for long-term business
sustainability.
We have crafted a 5-Year Strategy and Transformation Plan, known as the Future F.I.T., which aims to make Malaysia Airports
Financially sustainable, Impact driven and Technology focused. Future F.I.T. sets out the Group’s strategic direction for the next five
years (2021 – 2025), consisting of two phases: Phase 1 (Survival and Recovery Plan) and Phase 2 (Growth and Transformation Plan).
Phase 1 (2021 - 2022): Malaysia Airports SURVIVAL AND RECOVERY PLAN

Malaysia Airports is facing a challenging operating environment as the travel and tourism sector weakens following the outbreak
of COVID-19. As a response, we have developed the COVID-19 Recovery Plan, also known as Phase 1 (Survival and Recovery) of
Future F.I.T., to help us navigate through the COVID-19 impacts and economic slowdown. Malaysia Airports’ Survival and Recovery
Plan addresses how we plan to transition from the pandemic to recovery and reform, while continuing to improve passengers’
comfort and confidence.
Five main strategic themes namely Survivability, Fixing the Basics, Horizontal Expansion, Digitalisation and Critical Asset Replacement,
form the basis of our strategic endeavours under Phase 1 (2021 - 2022): Malaysia Airports Survival and Recovery Plan.
Phase 2 (2023 - 2025): MALAYSIA AIRPORTS GROWTH AND TRANSFORMATION PLAN

While the immediate focus is to ensure the survival of the Group and its recovery from the COVID-19 pandemic, it is also important
to position ourselves for future business growth and sustainability.
Our Phase 2 (2023 - 2025): Malaysia Airports Growth and Transformation Plan is anchored by three strategic thrusts namely
Maximising Revenue Generation, Developing New Capabilities and Ensuring Business Sustainability.
Future F.I.T. is further supported by four key enablers namely Operational Excellence and Innovation, Governance and Process,
Communication and Branding and Human Capital, which serve as the mechanisms to reflect our core values and to accomplish
our strategy.
In the following disclosures, we will discuss in detail all strategic themes and key enablers, each with its own key activities to create
value for FY2020, short to medium term focus, performance indicators, link to material matters and associated risks.
OUR STRATEGY
MALAYSIA AIRPORTS FUTURE F.I.T.
Malaysia Airports Future F.I.T.
Phase 1 (2021 - 2022) Phase 2 (2023 - 2025)
Malaysia Airports Survival and Recovery Plan Malaysia Airports Growth and Transformation Plan
To address our business and financial positioning in To address our business growth and
light of the pandemic by focusing on: sustainability anchored by:
5 Strategic Themes 3 Strategic Thrusts

Survivability Maximising Revenue Generation
The Group focuses to operate assets as efficiently and The Group targets to capture potential opportunities
cost-effectively to mitigate the risk of crisis that massively and create new revenue streams to further strengthen
hit the global aviation industry and prepare for air traffic its financial position and enhance long-term value for
rebound.
shareholders.
Fixing the Basics
The Group continues to ensure that the fundamental
aspects of its airports are operational and in good Developing New Capabilities
condition so that passengers are assured of a safe and As a leading industry player, it is important to continuously
joyful travel experience in the new normal. enhance our capabilities in the evolving operating
landscape. In light of this, the Group aims to develop new
Horizontal Expansion capabilities to ensure timeliness, efficiency and successful
The Group intends to expand its focus to more than
implementation of strategies.
just aviation services by exploring new opportunities
and diversifying revenue streams to improve business
performance.
Ensuring Business Sustainability
Digitalisation The Group aims to ensure business growth and
The Group aspires to transform its airports with the latest sustainability across its key business activities, leveraging
technological innovations to improve safety, operations, on its abilities, expertise and track record to continuously
productivity and airport experience. deliver value to its stakeholders. In doing so, the Group
intends to explore value accretion activities to future-proof,
Critical Asset Replacement strengthen and solidify its presence and competitiveness
The Group continues to improve its infrastructure for
in the industry.
effective operations and increases its precautionary and
safety measures so that passengers are assured of a safe
and joyful travel experience in the new normal.
Key Enablers
Operational Excellence Governance Communications Human

and Innovation and Process and Branding Capital
The Group pursues operational The Group focuses on The Group strives to instil The Group aspires to create a
perfection and operational continuous strengthening of positive perception and restore workplace that allows people
excellence culture through governance and procurement confidence in air travel through to perform and develop in a
continuous improvement and processes through digital effective communications and safe and healthy environment,
innovation development branding leading to enhanced
organisational effectiveness
OUR STRATEGY
SURVIVAL AND RECOVERY (2021 - 2022)
Survivability
Malaysia Airports’ immediate focus is to emerge from the current impact of COVID-19 on a stronger footing. The Group focuses
on operating assets as efficiently and cost-effectively as possible to mitigate the risk of crisis that massively hit the global aviation
industry and prepare for air traffic rebound.
Strategic Key Focus Areas
1) Deliver cost savings

2) Maintain strong credit ratings and mitigate liquidity risk
3) Drive process efficiencies across key business areas
Key Activities to Create Value in FY2020
Deliver cost savings

1) Embarked on an aggressive cost-optimisation plan through identification of several key areas including consolidation of under-
utilised terminal areas, revision of maintenance schedules and deferment of non-critical maintenance capital expenditure
(CAPEX).
Deferment of non-critical maintenance CAPEX resulted in prioritisation of key projects including network upgrade, baggage
handling system, aerotrain, washroom refurbishment and KUL's Runway 3 rehabilitation in 2020, based on the Group’s plan to
reduce CAPEX by 89% to RM189.0 million from RM1.8 billion.
Maintain strong credit ratings and mitigate liquidity risk

2) Managed to secure revolving credit facilities of RM1.1 billion from various supportive financial institutions, complementing
the Group’s existing undrawn sukuk facility of RM1.8 billion.
Redeemed RM1.0 billion Islamic Medium Term Notes (IMTN) Sukuk in August 2020 and issued new RM700.0 million Senior
Sukuk in November 2020, comprising a 7-year, RM480.0 million tranche and a 10-year, RM220.0 million tranche.
3) Focused on credit management at our Turkey operations through negotiation with Turkish authorities for the deferment of
concession payments (utilisation fee) and with ISG’s lenders for loan restructuring.
Drive process efficiencies across key business areas

4) Optimisation of terminal operations which include partial closure of non-operational areas of the terminal, alternate shutdown
of aerotrains, optimisation of bay allocations as well as optimisation of passenger flow and terminal capacity.
5) Introduction of Network Reconnecting Programme to incentivise airlines to resume operations into Malaysia, in which 18
airlines have participated since its launch in July 2020.
6) Continue Airlines Incentive Programme, by providing waiver of landing charges as a catalyst for promoting route development
and airlines’ growth.
OUR STRATEGY
Short to Medium Term Focus
1) Continuously optimise cost through strict cost control, a catalytic economic growth driver for the nation, while
contract review and manpower management in order maintaining the regional competitiveness of the airport
to improve and strengthen financial performance and system.
position.
3) Plan to maintain credit rating with RAM and Moody’s in
2) Strengthen regulatory framework through the new the event further funding is required. Nevertheless, the
Operating Agreements (New OA) that could set the Group still has undrawn facilities of RM1.8 billion through
Group on a stronger fundamental footing. Expected its existing sukuk programme, in addition to the RM1.1
to be concluded and signed in 2021, the New OA will billion revolving credit facilities the Group had obtained
be positive for the nation’s development in balancing from the banks in order to maintain the Group’s liquidity
the social agenda and impact. This includes enabling going forward.
airport development across Malaysia via a more robust
and sustainable range of funding models in order to 4) Revolutionise KUL where some initiatives include
deliver the investments required into the airport system. improving efficiency at checkpoints and enhancing
The finalisation of the New OA is expected to serve as processes during departure and arrival.
Performance Indicators
Target 2020
Operational expenses containment 20% core operational 26.1% core operational

expense savings expense savings obtained
CAPEX cash conservation Reduction from RM1,800.0 million Conserved cash by reducing CAPEX
to RM300.0 million spend to only RM189.7 million
Maintain credit ratings AAA ratings with stable outlook Maintained AAA ratings
from RAM with stable outlook
Mitigate liquidity risks Secure additional credit lines Secured RM1.1 billion in
revolving credit facilities
Capitals Affected :
Financial Manufactured Intellectual Human
Link to Material Matters :
Economic Transportation Regulatory

Performance and Connectivity Compliance
Fixing the Basics
Malaysia Airports continues to ensure that the fundamental aspects of our airports are operational and are in good condition so
that passengers are assured of a safe and joyful travel experience in the new normal.
1) Ensure the fundamental aspects of the airports are operational and are in good condition.
2) Enhance health and safety measures at all touchpoints.
Ensure the fundamental aspects of the airports are operational and are in good condition
1) Completed rehabilitation works on KUL’s Runway 3 after undergoing comprehensive maintenance including overlaying works
and improving runway pavement drainage under the KUL Runway Sustainability Master Plan, followed by calibration and
inspection works by the Civil Aviation Authority of Malaysia (CAAM). This is to ensure that the runway continues to meet all
international safety and regulatory guidelines for flight operations.
Began works on Runway 1, which is part of the Second Phase of the KUL Runway Sustainability Master Plan.
2) Revamped IT network at both terminals in KUL following the completion of core network migration, following which the IT
network will have at least 10 times the capacity of the previous network and is compatible with 5G, WiFi6 and Internet of
Things (IoT).
3) Completed 80% of the Group’s three-year washroom refurbishment project involving 225 washrooms with enhanced ambience
and amenities to improve passenger experience with the remaining due to be completed in June 2021.

Enhance health and safety at all touchpoints
4) Implemented new travel measures and safety protocols such as thermal sensors, smart screen helmets, facial recognition
technology, contactless security screening, sanitisation of terminals and sneeze guards protectors at all counters.
5) Published digital notices to communicate to passengers on travel-related FAQs for greater passenger awareness and
promoted social distancing by putting appropriate physical distancing markers at the check-in, immigration and customs
queueing areas, in lifts and on airport seating.
1) Focus on critical ageing asset replacement which include the Baggage Handling System (BHS), ageing Aerotrains and the
refurbishment of all washrooms at KUL.
2) Complete the rehabilitation of KUL’s Runway 1, while the rehabilitation of Runway 2 is expected to commence in 2026.
3) Enhance the efficiency and effectiveness of disinfection methods (such as automated systems and the use of ultra-violet
technology) which are employed in areas with high passenger volume such as washrooms, baggage reclaim areas and
immigration counters as passenger traffic picks up.
OUR STRATEGY
QoS Results for KLIA1 QoS Results for klia2
2020 2019 2020 2019

Jan 18/20 14/15 Jan 18/19 12/14
Feb 18/20 13/15 Feb 18/19 12/14
Mar 4/4 13/15 Mar 4/4 12/14
Apr 4/4 14/15 Apr 4/4 13/14
May 4/4 14/15 May 4/4 13/14
Jun 4/4 14/15 Jun 4/4 13/14
Jul 15/15 15/18 Jul 15/15 16/17
Aug 15/15 14/18 Aug 15/15 17/17
Sept 15/15 15/18 Sept 15/15 16/17
Oct 4/4 16/18 Oct 4/4 16/17
Nov 4/4 15/18 Nov 4/4 16/17
Dec 4/4 15/18 Dec 4/4 16/17
ASQ Scores - Overall Satisfaction ACSPP Scores - Overall Satisfaction

2020 2019 2020 2019
KUL 4.98 4.76 KCH 4.42 4.53
PEN 4.42 4.36 BKI 4.34 4.34
LGK 4.71 4.48
Capitals Affected :
Financial Manufactured Intellectual

Total Airport Airport Safety Regulatory
Experience and Security Compliance
Horizontal Expansion
Malaysia Airports intends to expand its focus to more than just aviation services by exploring new opportunities and diversifying
revenue streams to improve business performance.
1) Tap new opportunities and unlock additional revenue streams.

2) Grow non-aeronautical revenue and improve business performance.
Tap new opportunities and unlock additional revenue streams

1) Adopted cashless transactions to promote sales while safeguarding the health and safety of the passengers.
2) Organised first-ever airport-wide sales event, the KLIA Crazy Sale, to provide an additional sales avenue to retailers to market
their products at the airport, while providing the opportunity for non-travellers to enjoy great deals.
3) Organised the Eraman Friends and Family Sales at government agencies and corporate offices to enable non-travellers to
purchase travel retail products outside of the airport.
4) Collaborated with Tourism Malaysia through the Joint International Tourism Development Programme (JITDP) to stimulate
international and domestic travel demand.
5) Launched ‘shopMYairports’, an e-commerce platform to support the recovery of our airport retail tenants and enhance the
passenger retail experience. This initiative allowed customers to buy travel-exclusive and duty-absorbed products online,
with purchases delivered directly to their homes.
6) Organised first-ever Airport Staycation package at Sama-Sama Hotel KLIA, featuring an exclusive airport tour and fire-fighting
simulation exercises at the airport fire station.
Grow non-aeronautical revenue and improve business performance

7) Commenced operations of the new e-fulfilment hub, Cainiao Aeropolis eWTP Hub, Malaysia as part of strengthening
economic recovery of Malaysia and to support increase in regional trade flows.
8) Improved retail offering by revitalising and optimising commercial spaces to further grow non-aeronautical business through
the Commercial Reset programme at our airports.
9) Dufry, the world’s largest airport duty free operator, commenced operations at SAW to complete and enhance the shopping
experience at the airport.
1) Strengthen e-commerce initiative through 'Click and Collect' services in order to capitalise on the expected high growth of
the online shopping market while enhancing passenger experience.
2) Increase the number of freighter flights following commencement of operations of the new e-fulfillment hub, Cainiao
Aeropolis eWTP Hub, Malaysia.
3) Become a Regional Distribution Centre (RDC) and e-commerce Logistics Hub through the commencement of Cainiao
Aeropolis eWTP Hub, and Aerospace Hub with the presence of Sepang Aircraft Engineering at KUL, the only Airbus’ wholly-
owned Maintenance, Repair and Overhaul (MRO) service provider in the world.
OUR STRATEGY
Horizontal Expansion Performance Indicators
Key Performance Indicators Data Coverage FY20 FY19

Commercial Revenue KLIA1 184.4 415.4
(RM'mil) klia2 138.7 336.3
MASB 70.2 139.3
Non-Aero Revenue (RM'mil) Group 796.2 2,161.5
Spend per Pax (RM) KLIA1 39.41 44.54
klia2 22.29 27.97
Retail Duty Free Revenue (RM'mil) Eraman 155.0 854.5
Retail Duty Free EBITDA (RM'mil) Eraman -89.7 53.2
Capitals Affected :

Airport Capacity Market Digitalisation Economic Transportation
Presence Performance and Connectivity
Digitalisation
Malaysia Airports aspires to transform our airports with the latest technological innovations to improve operations, safety, productivity
and airport experience.
1) Enhance efficiency through digital transformation and process automation.

2) Adapt latest technological innovations including digital services and contactless touchpoints.
Enhancing efficiency through digital transformation and process automation

1) Piloted Single Token Journey initiative in collaboration with Malaysia Airlines and SITA for passengers travelling to Japan in
January 2020, utilising facial recognition technology to provide passengers with one single identification verification which
took passengers through the entire airport touchpoints from check-in to the boarding gate.
2) Completed network migration to a new core network architecture, allowing KUL to leverage on the latest cutting-edge
technologies such as 5G, WiFi6 and Internet of Things (IoT).
3) Embarked on the Airport Collaborative Decision Making (ACDM) system as one of the vital components for the Airports
4.0 digitalisation initiative, enabling airline partners to effectively share real time information for better efficiency in flight
operations.
Adapt latest technological innovations including digital services and contactless touchpoints
4) Launched shopMYairports in September 2020, Malaysia’s first travel-retail e-commerce platform, bringing the airport shopping
experience beyond the physical realm to virtual to provide a seamless and contactless airport experience to all.
5) Launched the UTW Smart Asset Solution Management system that provides a digital platform to simplify and streamline
maintenance workflows for UTW and its clients.
1) Pursue leading network solutions and adopt cutting-edge technologies at our airports such as running trials for ultra-fast fifth
generation (5G) networks, exploring Artificial Intelligence (AI) which is powered by video analytics for efficient surveillance
and upgrading CCTV to improve coverage for enhanced security.
2) Complete the implementation of ACDM by 2022 to help airports in managing resources better and in more efficient manner.
3) Install Passenger Reconciliation System (PRS) for a safer travel experience for our passengers while improving airlines’ on-
time performance and turnaround time.
4) Implement Single Token Journey initiative and integrate facial recognition technology into the MYairports app that enables
facial authentication of passengers even before they arrive at the airport itself.
5) Enhance shopMYairports platform with on-ground services such as 'Click and Collect', in collaboration with airlines and other
e-commerce operators, enabling travellers to shop online and collect their purchase at designated counters in the respective
airports upon arrival. Further enhancement is to allow purchases to be delivered straight to the gate or in-flight, direct to the
shopper’s seat.
OUR STRATEGY
Digitalisation Performance Indicators

Key Performance Indicators FY20 FY19
Total active users MYAirports - 9,411 -
shopMYairports - 2,752
% internet and digital revenue Royalty RM17,224.5 -

(from sales RM344,490.0)
Number of online transactions/amount 1,111/RM344,490.0 -
Capitals Affected :

Airport Safety Total Airport Digitalisation Cybersecurity
and Security Experience
Critical Asset Replacement
Malaysia Airports continues to improve its critical assets and infrastructure for effective operations and readiness in meeting demand.
1) Ensure critical assets and infrastructure are being replaced and upgraded to adhere to regulatory requirements and are ready
to meet demand.
Ensure critical assets and infrastructure are being replaced and upgraded to adhere to regulatory requirements and are
ready to meet demand
1) Completed rehabilitation works on KUL’s Runway 3 after undergoing comprehensive maintenance works including overlaying
works and improving runway pavement drainage under the KUL Runway Sustainability Master Plan.
2) Commenced the second phase of the Runway Sustainability Master Plan where works on Runway 1 began in November 2020.
3) Allowed the airport to leverage on the latest cutting-edge technologies through the completion of the migration of its core
network.
4) Completed 80% of the Group’s three-year washroom refurbishment project involving 225 washrooms with enhanced ambience
and amenities to improve passenger experience with the remaining due to be completed in June 2021.
1) Allocate RM400.0 million CAPEX for mission critical projects in 2021, which will partly be used to upgrade the Baggage
Handling System (BHS), replace the Aerotrains and refurbish all washrooms at KLIA1.
2) Complete Runway 1’s rehabilitation in 2021 while the rehabilitation of Runway 2 is slated to commence in 2026.
3) Install facial recognition technology (provide passengers with one single-token biometric identification authentication),
Airport Collaborative Decision Making (ACDM) and adoption of Artificial Intelligence (AI) to improve airport efficiency and
resilience.
OUR STRATEGY
BHS Availability at KUL (%) Aerotrain Availability at KLIA1 (%)
KLIA klia2 2 Trains 1 Train

2020 2019 2020 2019 2020 2019 2020 2019
Jan 99.82 99.96 100 100 Jan 99.30 99.90 100 100
Feb 99.94 99.50 100 100 Feb 99.40 99.70 100 100
Mar N/A 99.70 N/A 99.99 Mar N/A 99.30 N/A 100
Apr N/A 99.91 N/A 99.84 Apr N/A 99.11 N/A 100
May N/A 99.77 N/A 100 May N/A 99.60 N/A 100
Jun N/A 99.68 N/A 100 Jun N/A 98.50 N/A 100
Jul N/A 99.70 N/A 100 Jul N/A 98.07 N/A 100
Aug N/A 99.93 N/A 100 Aug N/A 99.40 N/A 100
Sept N/A 99.82 N/A 100 Sept N/A 99.30 N/A 100
Oct N/A 99.77 N/A 100 Oct N/A 99.70 N/A 99.90
Nov N/A 99.63 N/A 100 Nov N/A 98.40 N/A 100
Dec N/A 99.72 N/A 100 Dec N/A 99.70 N/A 100
Capitals Affected :

Total Airport Airport Capacity Procurement Regulatory Integrity and
Experience Practices Compliance Anti-Corruption
OUR STRATEGY
GROWTH AND TRANSFORMATION (2023 – 2025)
Phase 2: Growth and Transformation Plan
Phase 2 of Future F.I.T. is a long-term plan that aims to drive transformation and position Malaysia Airports for business growth
and sustainability. This will be anchored by three Strategic Thrusts, namely:
Maximising Revenue Generation
Malaysia Airports targets to capture potential opportunities and create new revenue streams to further strengthen its financial
position and enhance long-term value for shareholders through coordinated passenger development programmes and mixed
developments catering to passengers, meeters, greeters and visitors to create a unique travel experience with distinctive
commercial offerings and added space for convenience, comfort and satisfaction.
Developing New Capabilities
As a leading industry player, it is important to continuously enhance our capabilities in the evolving operating landscape. In light
of this, Malaysia Airports aims to develop new capabilities to ensure timeliness, efficiency and successful implementation of
strategies, to be on par with market demands that will help strengthen MAHB business and position. One of the potential areas
include exploring new capabilities and business ventures in the air cargo segment.
Ensuring Business Sustainability
Malaysia Airports aims to ensure business growth and sustainability across its key business activities, leveraging on its abilities,
expertise and track record to continuously deliver value to its stakeholders. In doing so, Malaysia Airports intends to explore value
accretion activities to future-proof, strengthen and solidify its presence and competitiveness in the industry. This may include
improving existing infrastructure with cutting-edge technologies to continuously adapt to current and future expectations in
passenger experience, operational efficiency, digitalisation and airport capacity to address future growth.
Capitals Affected :
Financial Manufactured Intellectual Human Social

Total Airport Airport Capacity Digitalisation Economic Integrity and
Experience Performance Anti-Corruption
Regulatory Employee Engagement Market

Compliance and Development Presence
Key Enablers
OPERATIONAL EXCELLENCE AND INNOVATION
Malaysia Airports pursues operational perfection and operational excellence through a culture of continuous improvement and
innovation.
1) Operations improvement (OI) project immersion and cost savings

2) People development
3) Operational excellence (OE) culture campaign
Operations improvement (OI) project immersion and cost savings

1) Drove operational expenditure (OPEX) cost reduction projects to optimise operational costs and achieve savings through the
adoption of Lean Six Sigma methodology.
2) Enhanced service quality through the following initiatives:

i) 5S (Sort, Set in order, Shine, Standardise and Sustain) programme
ii) Improved baggage on-time performance (OTP)
iii) Enhanced overall washroom management between multiple stakeholders
iv) Improved new norm pax journey for domestic and international recovery
3) Improved efficiency through MASB 5S enterprise rollout.
People Development
4) Provided employees with training on Lean Six Sigma, Design Thinking and Agile tools and methodologies.
Operational excellence (OE) culture campaign

5) Embarked on OE campaigns to communicate, promote and recognise the adoption of OE culture at the airports.
1) Focus on key areas that maximise positive impact to Malaysia Airports through improvements in service quality, increase in
efficiency and optimisation of operational costs.
2) Develop subject matter experts in Lean Six Sigma, Design Thinking and Agile methodologies to drive continuous
improvements related to Quality of Service and Airport Service Quality targets.
3) Adopt a culture of operational excellence in everyday activities, while striving to embed OE perception in Malaysia Airports.
2020 2019
Total Financial Impact (RM'mil) 131.7 78.8
Cost Savings (RM'mil) 131.5 45.9
Cost Avoidance (RM'mil) 0.03 32.8
Cost Efficiency (RM'mil) 0.2 4.9
Revenue (RM'mil) 0.3 1.1
Total Trained Employees on Lean Six Sigma methodology 595 517
Yellow Belt/Lean Practitioner 32 215
Green Belt 21 46
Black Belt 25 NA
Total 78 261
Total Trained Employees on Design Thinking & Agile methodologies 22 N/A
Practitioner 22 N/A
Total 22 N/A
Capitals Affected :

Digitalisation Total Airport Economic Airport Safety
Experience Performance and Security
Key Enablers
Governance and Process
Malaysia Airports focuses on continuous strengthening of governance and procurement processes through digital development.
1) Strengthen governance throughout the procurement transformation journey by automation and digitalisation initiatives to
drive value creation.
Strengthen governance throughout the procurement transformation journey by automation and digitalisation initiatives
to drive value creation
1) Continued leveraging on technology for procurement through eTender, eForm A, eCatalogue, eBidding, and Digital
Interactive Group Procurement Manual to expedite the current processes and improve efficiency, quality and transparency.
2) Enhanced and empowered decision-making processes to align with procurement transformation.
1) Establish category management and centralised procurement process for cost optimisation and savings from strategic
procurement, planning and sourcing.
2) Commercialise procurement data and reorganise procurement to be more business-centric through Procurement Digital
Platform.
3) Embark on full certification of the ISO 37001: 2016 for Anti-Bribery Management System (ABMS) for Malaysia Airports
Corporate Office, MA Sepang, which runs KUL, and MASB, which runs the other airports in Malaysia.
2020 2019
e-Tender (Utilisation rate) 90% 70%
e-RFQ (Utilisation rate) MAHB 100% MAHB 100%

MA Sepang 50% MASB (HQ) 100%
MA Sepang 20%
e-Catalogue (Utilisation rate) 100% for 8 categories 100% for 3 categories

1. Stationary Items & 1. Stationary Items &
Office Supplies Office Supplies
2. Toner 2. Toner
3. Copier Paper 3. Copier Paper
4. Fire Extinguisher
5. Printing
COVID-19 related:
6. Sneeze Guard
7. Body Thermal Scanner
8. Consumable PPE
Relevant Award: Award recipient under the Anti Bribery Management System (ABMS) Certification Scheme by SIRIM
Capitals Affected :
Financial Manufactured Intellectual Social

Procurement Integrity and Digitalisation
Practices Anti-corruption
Key Enablers
COMMUNICATIONS and Branding
Malaysia Airports strives to instil positive perception and restore confidence for air travel through effective communications and
branding.
1) Instilling and restoring confidence in air travel.
2) Create value to stakeholders to survive the crisis.
Instilling and restoring confidence in air travel

1) Expedited Airports 4.0 initiatives for a safe and contactless airport experience, making the airport future-ready when travel
returns to normalcy such as contactless ordering and payment system at the F&B outlets and the Single Token Journey
initiative.
2) Communicated through multiple channels to inform passengers and the general public on the new safety and public health
measures implemented at the airports for the safety of passengers.
3) Promoted a positive outlook for the national aviation/tourism sector contributing to the gradual recovery for air travel.
Create value to stakeholders to survive the crisis

4) Rebuild network through airlines incentive programmes and facilitate the development of international traffic.
5) Collaborated with commercial partners to support the recovery of retail tenants through the shopMYairports e-commerce
platform, KLIA Crazy Sale and rebates.
6) Promoted KLIA Aeropolis DFTZ Park, Alibaba’s first regional e-fulfilment hub outside of China.
7) Generated value for shareholders by creating investor interest in Malaysia Airports.
8) Developed brand awareness through on-ground training, senior management engagements and by institutionalising the
brand management structure and governance.
1) Deliver joyful connections in line with our brand promise and ‘Caring Hosts’ culture.
2) Highlight new commercial brands and retail experiences at airports.
3) Drive footfall to the airport through KUL airport tourism initiatives.
4) Promote airport modernisation and digitalisation in order to gear up for future growth and sustainability including Single
Token Journey initiative, Passenger Reconciliation System (PRS), Self Service Bag Drop (SSBD), Airport Collaborative Decision
Making (ACDM) and improved MYairports mobile application.
5) Reinforce brand and reputation by becoming a service leader in delivering airport experiences through positioning as a
global hub for aviation and logistics and value creator in airport management, connectivity and sustainability.
Average Training Hours 2020 2019

Total PR Value (RM'mil) 8,633.9 1,115.3
Target: 584.0
CSR PR Value (RM'mil) 56.0 73.3
Target: 91.0
Brand Sentiment Score 0.47 0.22
Target: 0.29
Capitals Affected :
Financial Manufactured Intellectual Human Social

Market Total Airport
Presence Experience
Key Enablers
Human Capital
Malaysia Airports aspires to create a workplace that allows people to perform and develop in a safe and healthy environment. This
builds an organisation that is effective and adapts to changes in regulation and industry needs.
1) Enhance organisational effectiveness, strengthen organisational structures and build internal leadership capabilities.
2) Develop capabilities and equip employees with the right competencies.
Enhance organisational effectiveness, strengthen organisational structures and build internal leadership capabilities
1) Implementation of organisational structure and manpower proofing through structure repositioning and realignment,
merging and consolidation of functions, process improvement and mobility of talent.
2) Implementation of refined KPI setting at Senior Management’s role to drive right business priorities/outcomes and ensure
line of sight.
Develop capabilities and equip employees with the right competencies

3) Moving from conventional classroom training to online webinars. 35 modules were developed throughout the year. The
average participation rate for the online programmes was 85%.
4) Rolling out upskilling and integration programmes to support cross functional mobility, short-term and long-term assignment
plan and redeployment of talent across the Group through Talent Mobility, Talent Exchange and Airport Fire Rescue Service
(AFRS) Integration programmes.
1) Conduct KPI audits to ensure alignment of individual, divisional and corporate KPIs and support business goals.
2) Establishment of a Leadership DNA and Leadership Capability Model for Malaysia Airports. The Leadership DNA helps to
identify the aspired talent profile for Leadership positions in Malaysia Airports while the Leadership Capability Model forms
the basis of Malaysia Airports' processes for assessing the capability and potential of the Group’s future leaders.
3) Continue implementation of learning and development programmes by leveraging the use of technology through the digital
learning platform.
4) Enhancement of Leaders Airport Adoption Programme (LEAP) to condition all Airport Managers with required leadership and
entrepreneurship traits through an effective coaching and mentoring programme.
Average Training Hours 2020 2019

All employees 13 16.1
Management 12 15.3
Executive 17 16.1
Non-executive 13 11
Capitals Affected :
Financial Intellectual Human

Total Airport Airport Safety Integrity and Regulatory
Experience and Security Anti-corruption Compliance
SUSTAINABILITY OVERVIEW
Malaysia Airports recognises the importance of Environment, A non-exhaustive list of these Board and management
Social and Governance (ESG) factors in creating long- committees include:
term sustainable value for stakeholders while ensuring our
businesses remain relevant. As such, we constantly work to E Environmental matters
embed these sustainability factors throughout the Company’s • Engineering Environment Committee
value creation model and value chain.
S Social matters
Governance and Structure • Board Nomination and Remuneration Committee
The Board of Directors provides strategic direction with regards • Human Resources Committee
to Malaysia Airports’ ESG model through the Company’s
Sustainability Policy and Framework. G Governance matters
• Board Finance and Investment Committee
The Senior General Manager, Strategy (previously the Senior • Board Risk Management Committee
General Manager, Planning) of Malaysia Airports is responsible • Board Procurement Committee
for ensuring the ESG model is translated into actionable • Corporate Risk Management Committee
tangible initiatives by business and support units in line with • Information Security Management Committee
Malaysia Airports’ five Sustainability Pillars. The incumbent
is a member of the Management Executive Committee Sustainability Policy and Framework
(ExCo), chaired by the Group CEO, and comprises the top Malaysia Airports has been guided by a Sustainability Policy
management of Malaysia Airports. The incumbent is also since 2010.
responsible for highlighting and reporting on sustainability
matters to the ExCo, and where relevant, to the Board of In January 2021, in line with our vision to become ‘A Global
Directors. Airport Group That Champions Connectivity and Sustainability,’
an update to the Sustainability Policy was approved by the
The Sustainability Unit assists the Senior General Manager, Board. The new Policy integrates Malaysia Airports’ widened
Strategy in the day-to-day running and management of ESG model to better align business decisions and strategies
organisation wide sustainability initiatives. The Sustainability with ESG considerations and stakeholders’ concerns and
Department also provides consulting services and engages supports the Nation’s commitment towards the UN SDGs.
stakeholders on all matters related to sustainability.
The Sustainability Framework links our Sustainability Pillars to
In 2020, the ExCo approved the establishment of a the material matters relating to Malaysia Airports’ business
Sustainability Committee to oversee all ESG matters and to as well as to the SDGs. It illustrates the connection between
ensure that they are streamlined. Currently, interdepartmental Malaysia Airports’ ESG model and the material matters at the
working committees and taskforces which support the Board forefront of our business, and how business can ultimately
and management committees see to their own sustainability contribute towards achieving the global sustainability agenda.
targets, implement initiatives and monitor and track progress
towards achieving these targets. To this end, we recognise the Our Sustainability Pillars are Practising Sensible Economics,
need to have a formal management committee to oversee Environmental Consciousness, Creating an Inspiring
company-wide ESG initiatives. Workplace, Community-Friendly Organisation and Memorable
Airport Experience.
KUL Sustainability Charter

Five Sustainability Pillars The KUL Sustainability Charter was introduced in 2019, creating
a leadership role for Malaysia Airports in sustainability matters
Practising Sensible Economics within the airport community at KUL. The charter reflects new
PILLAR
and evolving matters of concern to Malaysia Airports and its
1
Generate sustainable returns from
business activities by strengthening and stakeholders, both internal and external namely employees,
optimising revenue streams. regulators, airline companies, investors, airport tenants,
vendors, passengers, the local community and the media.
PILLAR Environmental Consciousness Through stakeholder consultation, we identified material

matters, set goals and identified key initiatives to form the basis
2 Manage and reduce the impact on the

environment from business activities.
of the charter. Each of these are aligned to the Sustainability
Pillars and SDGs.
Sustainable Development Goals

Creating an Inspiring Workplace As a Government-Linked Company, Malaysia Airports supports
PILLAR
the Malaysian Government’s commitment to the United
3
Value our employees, provide
development opportunities and embed Nation’s 2030 Agenda for Sustainable Development. The
good governance. United Nations had identified 17 Sustainable Development
Goals (SDGs), representing a call for action by all countries –
poor, rich and middle-income – to promote prosperity while
Community-Friendly Organisation protecting the planet. Ending poverty must go hand-in-hand
PILLAR Support and strengthen community with specific goals and strategies that build economic growth
4 engagement and efforts to develop

programmes to meet the needs of local
communities.
and address a range of social needs including education,
health, social protection, and job opportunities, while tackling
climate change and environmental protection.
Memorable Airport Experience Malaysia Airports has aligned its material matters, Sustainability
PILLAR Pillars and the KUL Sustainability Charter with all 17 SDGs.
5
Enhance the travel experience of airport
However, the SDGs highlighted in the Sustainability Report are
guests to support our brand promise of the ones most relevant to Malaysia Airports.
hosting joyful connections.
Sustainability Rating
The following policies, procedures, guidelines also serve to Malaysia Airports was assigned a Gold Sustainability Rating
embed the ESG model in Malaysia Airports’ operations and by RAM Sustainability. The rating reflects Malaysia Airports’
are available on our corporate website: strong overall sustainability performance after taking into
consideration its ESG and positive impact attributes.
• Environmental Management Policy
• Environmental Protection Policy Ratings are assigned to the overall Sustainability Rating and
• Procurement Policies, Procedures and Guidelines each of its four components – Environment, Social, Governance
• Anti-Corruption Policy Statement and Positive Impact. The three different rating levels that can
• Gift Policy be assigned are Bronze, Silver and Gold. Malaysia Airports was
• Fraud Policy assigned Gold ratings for the Social, Governance and Positive
• Whistleblowing Policy Impact components and a Silver for Environment.
• Safety, Health and Environmental Policy
• Policy on Prevention and Eradication of Drug and Alcohol Malaysia Airports’ Gold Sustainability Rating is driven by strong
Abuse in the Workplace corporate governance, our commitment towards sustainability
• Sexual Harassment Policy efforts and our contribution to the domestic economy as a
• Stop-Work Policy national airport operator. Our focus on community and social
• KUL Sustainability Charter contributions and forward-looking environmental policies and
• Code of Ethics and Conduct strategies also contributed to Malaysia Airports’ achievement.
SUSTAINABILITY OVERVIEW
Sustainability Framework
A Global Airport
Group that
Champions
Connectivity and
Sustainability
5
Su rs
sta Pi lla
inability
20
17 ers oa
ls
M a te
Su rial Matt t G
sta en
inab
le Developm
Practising Sensible Environmental Creating an Community-Friendly Memorable Airport

Economics Consciousness Inspiring Workplace Organisation Experience
Airport Capacity Waste and Effluent Integrity and Anti- Human Rights Airport Safety and
Digitalisation Management corruption Security
Contributions to
Economic Emissions Employee Local Community Total Airport
Performance Engagement and Experience
Climate Change
Development
Regulatory Transportation
Water Management
Compliance Diversity and Connectivity
Energy Efficiency
Procurement
Practices
Market Presence
Cybersecurity
Stakeholder Engagement
MALAYSIA AIRPORTS’ KEY STAKEHOLDER GROUPS
Malaysia Airports’ stakeholders include many organisations and individuals, making it a collaborative service environment.
Our Key Stakeholders are defined as those who affect, either directly and indirectly, our management, comprising of regulators
and government, employees, airlines, passengers, tenants, vendors and service providers, investors, local community and the
media.
Engaging and keeping good relations with stakeholders are necessary in realising our ambition to become a global airport group
that champions connectivity and sustainability.
Regulators and
Employees Airlines Passengers Tenants
Government
Vendors and
Investors Local Community The Media
Service Providers
STAKEHOLDER ENGAGEMENT PROCESS
Engaging stakeholders is crucial in order to understand our ecosystem and maximise our positive impact on the communities
within which we operate. It enables us to understand what they consider important and continuously maintain our mindset of
continuous improvement across our internal processes and strategic business priorities.
Through meaningful engagements via internal and external channels, the platform provides an avenue to understand our key
stakeholders’ concerns and interests to inform us about the material business opportunities, mitigate our operational risk,
and deliver shared value to our communities. This will guide the strategy and decision-making process to be done holistically,
considering all key stakeholders.
At Malaysia Airports, we strive to engage our stakeholders to address interest and concerns, and to amicably reach a common
understanding and goal to determine outcome within a given timeframe.
The table below details out some of the engagement methods, areas of interest and our responses based on our key stakeholder
groups. For this reporting year, we enhanced the disclosure with the frequency of ongoing communication with our key stakeholders
to demonstrate our constant commitment to develop and sustain positive, value-creating relationships with our key stakeholders.
Key Frequency Method of Areas of Our Response Sustainability

Stakeholders of Engagement Interest Pillars and
Engagement Material Matters
Engagement Regulatory Conducted regular audits and inspections Pillar 1
sessions, face-to- compliance Airport
Carried out engagements and discussions with
face meetings, Capacity
regulators on the finalisation and direction of the
and dialogue
Regulators Operating Agreements, Regulated Asset Base Market
sessions
and framework and Quality of Service framework Presence
Consultation
Government
sessions on Adhered to industry standards and obtained Regulatory
regulatory certifications Compliance
matters
Adhered to international and national laws,
Pillar 2
regulations, and best practices
Climate
Implemented appropriate work-from-home Change
measures during the Movement Control Order,
Energy
Controlled Movement Control Order and
Efficiency
Recovery Movement Control Order based on
instructions from the Ministry of Defense Emissions
Our Aviation Security personnel worked closely Waste and

with government agencies to enforce the Effluent
Malaysian National Security Council’s Movement Management
Control Order SOPs and rescue flight operations
Water
Collaborated with the National Disaster Management
Management Agency and Ministry of Health in
managing Person-Under-Surveillance cases Pillar 5
Airport
Installed thermal scanners to assist in the
Safety and
Ministry of Health’s manual temperature
Security
screenings for passengers arriving at international
airports in Malaysia Transportation
Airport Assess opportunities and potential for and
competitiveness collaboration with key stakeholders Connectivity
Actively seek foreign investment
Implement incentive programmes to attract new

carriers – Airline Incentive Programme, the Joint
International Tourism Development Programme
and Network Reconnecting Programme
Infrastructure Maximise land bank through KLIA Aeropolis and

development Subang Regeneration Initiative
Leveraged technology for airport operations
Frequency of Engagement Daily Twice a year As and when required

Weekly Quarterly Ongoing
Monthly Annually

Environmental Engaged in environmental monitoring
and Climate
Adhered to local and national environmental
Change
regulations on energy, noise, water and effluent,
air quality and waste management
Conducted noise contour and impact surveys
Initiated the renewal of KUL’s Level 3 Airport

Carbon Accreditation
Continued to support Malaysia’s renewable

energy agenda through the production of solar
power at klia2
Encouraged guests and the airport community to

Recycle, Reduce and Reuse waste
Licensing Obtained 17 Aerodrome Operator Licenses
from the Malaysian Aviation Commission and
Aerodrome Certification from the Civil Aviation
Authority of Malaysia.
Town halls, Employee health Provided clear COVID-19 SOPs Pillar 1
engagement and safety Digitalisation
PCR testing for staff in collaboration with
sessions and wellbeing Regulatory
the Ministry of Health and Social Security
Focused group during and post Compliance
Organisation
Employees discussions on COVID-19
Implemented the use of masks, faceguards, and Pillar 3
targeted issues
goggles where necessary Diversity
Employee
Have in place a work-from-home rotation Employee
performance
schedule Engagement
review
and
Engaged with employees on COVID-19 matters Development
through the COVID-19 portal
Integrity and
Provided awareness and updates on COVID-19 to Anti-corruption
employees
Pillar 4
Provided fitness and childcare facilities at HQ Human Rights
Pillar 5
Airport Safety
and Security

Monthly Annually

Workplace safety MySejahtera COVID-19 screening at Malaysia
during and post Airports’ premises
COVID-19
Revised Occupational Health and Safety Policy
and Procedures to reflect COVID-19 safety
measures implemented
Certified under ISO 45001 Occupational Health
and Safety Management System: Corporate
Office and MA Sepang
Decontamination and sanitisation of work and
common areas
Supplied alcohol-based sanitisers
Job Security There were zero retrenchments and zero salary
cuts
Corporate Committed to the Malaysian
integrity
Government-initiated Integrity Pact
Have in place a Code of Ethics and Conduct,
a Whistleblowing Policy, the Malaysia Airports
Integrity Plan and Corruption Risk Management
System and Policies
Conducted a Corporate Integrity System
Assessment
Conducted Integrity Perception Surveys
Employee Conducted townhalls, walkabouts, ‘Let’s Connect
engagement Session’ engagements, internal communications
and union engagements
Training Introduced the use of Microsoft 365 to facilitate
and career remote work, online meetings, and training
development
Reskilled and retrained employees for
redeployment to other divisions including 88
Aviation Security personnel to take on Airport
Fire and Rescue Service duties

Monthly Annually

Regular meetings Innovation and Engaged airlines and communicated ‘Airports Pillar 1
and face-to-face technology 4.0’ initiatives Airport Capacity
discussions advancement
Leveraged on technology: single token journey, Regulatory
Airline operating self-baggage-drop facilities, self-check-in Compliance
Airlines
committees
kiosks, Passenger Reconciliation System,
Pillar 5
Local carrier facial recognition for improved efficiency and
Transportation
airlines meetings passenger and airline crew safety and Connectivity
Foreign carrier Improved KUL’s digital network – Total Airport
airlines meetings Management System
Security facilitation
Airport safety Established a COVID-19 Crisis Management
meeting
Team at MA Sepang
Feedback surveys
Implemented the use of thermal and security
scanners and sneezeguards at KUL and 19 other
airports
Implemented safety measures following the SOPs
established by the government
Carry out frequent Runway Safety inspections and
Runway Safety Team meetings
Put in place the Safety Management System and
obtained Aerodrome certification
Carry out regular safety and emergency
simulation exercises by Airport Fire and Rescue
Service
Conduct Foreign Object Debris walkabouts
Continued the KUL Runway Sustainability Master
Plan
Terminal Embarked on renovating, refurbishing and
and building modernising terminals
infrastructure
Upgraded critical upgrading works based on the
Group’s Cost Optimisation Plan
Optimised terminal operations through partial
closure of underutilised areas of the terminals

Monthly Annually

Airport Service Airport service Launched e-Commerce platforms, Pillar 1
Quality surveys quality and #shopMYairports and shop@SAW in Malaysia and Airport Capacity
MAVCOM Quality experience Turkey respectively, to provide a seamless and Cybersecurity
of Service audits contactless airport shopping experience
Passengers Digitalisation
Social media Used the Airport Service Quality Benchmarking
Economic
Customer Programme to measure airport service quality at Performance
Feedback our airports
Management Regulatory
Complied with MAVCOM’s Quality of Service Compliance
framework
Pillar 4
Improved digital processes which include
Human Rights
single-token travel, self-baggage-drop facilities,
self-check-in kiosks, Passenger Reconciliation
System, facial recognition for improved efficiency
and passenger
Improved KUL’s digital network – Total Airport
Management System
Customer Provide the public with updates via social media
service
Engagement with passengers through Airport
CARE Ambassadors
Continued the Customer Affairs and Resolution
Excellence Feedback Management System to
manage and respond to feedbacks and queries
Implemented cashless payment services for
increased customer convenience
Cleanliness Carried out washroom refurbishments and
renovations
Introduced ‘Adopt Your Toilet’ programme
Communication Provide the public with updates via social media
and
Provide guests with help and guidance via the
announcements
Airport CARE InfoCentre at KUL
Published ‘Convergence’ e-magazine
Use of #MYairportsupdates to provide the public
with a convenient way to access our updates on
travel restrictions and SOPs
Improved wayfinding signages

Monthly Annually

Passenger traffic Implemented more digitalised initiatives
to provide more seamless and contactless
experience for passengers travelling
Airport security Embarked on the use of thermal scanners and
and safety sneeze guards
Piloted single token journey initiative driven
by facial recognition and other technology to
improve passengers’ journey throughout the
airport
Collaboration with the Ministry of Health and
other relevant agencies and airlines to ensure that
the risk of exposure to COVID-19 is minimised
Standard Airport operator Practice standard contracting procedure Pillar 1
consulting Cybersecurity
Provided rebates on rental for premises at the
procedure Digitalisation
airports
Engagements, Economic
Tenants Introduced new rental model for retail tenants
briefings, Performance
as part of an ongoing effort to retain and attract
one-on-one
business partners Procurement
communication
Customer Enhanced the Commercial Reset Strategy Practices
Communication
plans and satisfaction
Implemented a cashless payment ecosystem for Pillar 5
projections increased customer convenience Airport Safety
Launched #shopMYairports, an e-Commerce and Security
platform that enhances passengers’ retail Total Airport
experience, allows the public to purchase duty Experience
absorbed goods and supports the recovery of
airport retail tenants
Departing international passengers can pre-
purchase and pick up their duty-free goods at the
airport through this platform as well
Held the ‘KLIA Crazy Sale’ which allowed the non-
travelling public to purchase duty-absorbed goods
at the airport
Tenders and Procurement Regularly review and adhere to procurement Pillar 1
requests for process policies, procedures and guidelines Digitalisation
proposals Economic
Implemented e-Procure and automated
Briefing on procurement process to improve efficiency and Performance
Vendors
processes and digitisation Procurement
and Service
updates on Practices
Providers Prompt Implemented the Vendor Management System to
projects
payments keep track of procurements and payments
Pillar 3
Integrity and
Anti-corruption

Monthly Annually

Analyst briefing Financial returns Regular review of business and investment plans to Pillar 1
sessions match the current and predicted social-eco climate Economic
One-on-one Performance
Communication Regular review of business and investment plans to
engagements Market Presence
Investors on Future F.I.T. match the current and predicted social-eco climate
Implemented Future F.I.T., a 5-year plan to see the Regulatory
business through survival and recovery Compliance
Put in place measures to improve cost structure Pillar 3

and reduce operating cost Integrity and
Anti-corruption
Governance and Adhere to the Malaysian Code on Corporate
transparency Governance
Company Regularly publish literature and press releases that

reputation highlight our activities, awards and accolades
Regulatory Adhere to Bursa Malaysia’s listing requirements

compliance
Became a constituent of the FTSE4Good Bursa
Malaysia Index
Integrated Sustainability Reporting into our annual
disclosures
Financial results Announce financial results every quarter
Community Corporate Continue to give back to local communities Pillar 4

engagement citizenship through our Corporate Responsibility Framework Contributions
Strategic which focuses on Education and Youth Leadership; to the Local
partnerships Community Enrichment and Malaysia Branding Community
Local
Community News media Distributed comfort kits to frontliners at various Human Rights
hospitals and stranded passengers at KLIA1
Social media
Website Donated essential items and food to 55 families
in Sepang to help them overcome the negative
effects of COVID-19
Media briefings Environmental Issue press releases and conduct press briefings Pillar 1
and interviews social and regularly Economic
Website and governance Performance
Practise sound and transparent decision making
events issues
The Media Market Presence
Social media Media relations Grant media interviews when appropriate and
Press conferences visit media occasionally

Monthly Annually
MALAYSIA AIRPORTS EXTERNAL STAKEHOLDER ENGAGEMENT WORKSHOP
Malaysia Airports constantly engages a wide range of internal and external stakeholders through various platforms to gain the
insights on current interests and concerns that reflect significant economic, environmental, social and governance (EESG) impacts
and matters that influence the assessments and decisions of key stakeholders.
As part of the continued efforts of the Group to identify matters that are crucial to its ability to create long-term value, a detailed
stakeholder engagement through materiality assessment workshop was conducted in FY2020. This workshop aimed to understand
and discuss the key stakeholders’ interests and concerns in order to assist the Group in realigning shared sustainability goals and
key initiatives for long-term value creation, in consideration of the new business environment due to COVID-19.
The materiality assessment workshop that took place at Sama-Sama Hotel KLIA in September 2020 involved a total of about 60
individuals from different stakeholder groups such as airlines and ground handlers, regulators and government, tenants, vendors
and service providers, and Malaysia Airports’ employees.
Some of the attendees of the workshop include representatives from Malaysia Airlines Berhad, AirAsia Group Berhad, Malaysian
Aviation Commission (MAVCOM), Ministry of Transport, Department of Environment Malaysia, Civil Aviation Authority of Malaysia
(CAAM), Khazanah Nasional Berhad, Valiram Group, Gateaway@klia2, Grab Malaysia, and Express Rail Link Sdn Bhd.
Through the workshop we gained valuable insights that were used as inputs in the materiality assessment process. Besides, the
workshop also provided a platform to discuss relevant goals and initiatives for each of the material issue identified and prioritised
during the exercise.
These inputs, together with the results from Malaysia Airports’ internal materiality assessment survey, together formed the
consolidated materiality matrix, leading to the prioritisation of eight most material matters, as explained on page 64 of this report.
In light of the COVID-19 pandemic, matters such as containment of the health crisis, restoration of consumer confidence in air
travel and getting the industry back flying again emerged as some of the key interests among the attended stakeholders.
MATERIAL MATTERS
Material matters are those that substantively affect our ability to create value over time.
The matters are not limited to those that have a significant financial impact on the Group
but also includes consideration of Economic, Environmental and Social impacts that affect
the ability to meet the needs of the present and future generations.
Having in place a materiality assessment process enables us to map out our material matters, which contributes to better business
strategy development over time.
This year, we enhanced the previous material matters with internal and external materiality assessment workshop, taking into
consideration of COVID-19. This reassement enables us to support the refinement of priorities and to obtain the information
required in reassessing matters that are material for the airport community in Malaysia. This assessment is aligned with Bursa
Malaysia’s recommendation that an annual review of material matters be conducted to ensure that they remain current and
aligned to the business and interest of our key stakeholders.
MATERIALITY ASSESSMENT PROCESS
Our materiality assessment comprises three steps:
IDENTIFICATION
A comprehensive list of material matters was identified based on a review and analysis of both internal and
external sources of information including our strategic framework, media review, peer benchmarking, sector-
specific regulations, standards as well as industry trends and challenges. Engagements with internal and external
stakeholders were also conducted to assess their needs and concerns.
PRIORITISATION
Key representatives of internal stakeholders (e.g. senior management and head of departments across the
business) and external stakeholders (e.g. airlines, regulators, tenants, vendors and service providers) met in a
workshop to review, discuss and prioritise the identified material matters to form a materiality matrix.
VALIDATION
The materiality matrix was validated by senior management and approved by the Board.
The findings from this assessment process were used to refresh the materiality matrix for FY2020. Kindly refer to the Stakeholder
Engagement section for more details regarding the workshop.
Airport Capacity is now the top priority in the Extremely High category; its shift in position can be seen from the impact to Malaysia
Airports and the significance to key stakeholders. This is reflective of key stakeholders' interests to prepare the airports for future
demand as public confidence in air travel increases.
Transportation and Connectivity has also moved up from Very High to Extremely High category in comparison to FY2019 materiality
matrix. Passengers are demanding for a seamless airport journey as well as airports being a user friendly transportation hub with
equal accessibility for all. Beyond these shifts, the overall results of FY2020 assessment remain largely consistent with the previous
year, particularly with regard to our top most material issues.
Materiality Matrix
The Materiality Matrix below is developed in reference to the Global Reporting Initiative (GRI) standards framework to demonstrate
the findings of our materiality assessment process. The Materiality Matrix plots material matters in two dimensions - the impact to
Malaysia Airports and the significance to Key Stakeholders.
It guides us in addressing and managing matters of utmost importance for the business as well as stakeholders. We have classified
the materiality into three categories: high, very high, and extremely high. These material matters are mapped against Malaysia
Airports' Sustainability Framework which sets out five Sustainability Pillars - Practising Sensible Economics, Environmental
Consciousness, Creating an Inspiring Workforce, Community-Friendly Organisation and Memorable Airport Experience. These
Pillars are illustrated in the Matrix below.
In this report, Malaysia Airports focuses on disclosures of the top eight Extremely High material matters. A more complete
discussion on Malaysia Airports’ material matters is covered in the Sustainability Report, which can be found on our corporate
website www.malaysiaairports.com.my.
Malaysia Airports Materiality Matrix for FY2020
Extremely High
Very High
Significance and Importance to Key Stakeholders
High Airport Safety and Security

Economic Performance Digitalisation
Transportation and Connectivity Total Airport Experience
Airport Capacity
Cybersecurity
Regulatory Compliance
Integrity and Anti-Corruption
Market Presence Human Rights
Procurement Practices Contributions to Local Community

Emissions Employee Engagement and Development
Waste and Effluent Management Energy Efficiency
Diversity
Water Management
Climate Change
Impact to Malaysia Airports
Sustainability Pillars: Practising Sensible Economics Creating an Inspiring Workplace Memorable Airport Experience
Environmental Consciousness Community-Friendly Organisation
MATERIAL MATTERS
1. Airport Capacity
Airport capacity refers to the airports’ ability to cater for increasing passenger traffic and to manage capacity constraints through
space optimisation and airport expansion.
Stakeholders Involved
Regulators and Employees Airlines Passengers Tenants Investors The Media

Government
Our strategic response to the material matters
Survivability Fixing the Critical Asset

Basics Replacement
Capitals Affected and Trade-offs Link to UN SDGs
Financial Intellectual Social Financial
Initiatives/Activities
Baggage Handling System upgrade: Able to process baggage 30% faster at double the capacity, able to cater up to 49.5 mppa.
Replacement of Aerotrains: Improved capacity from 4,200 people to 5,400 people per hour per direction.
Runway Rehabilitation: As part of the KUL Runway Sustainability Plan, Runway 3 was fully rehabilitated by August 2020 while work
started on Runway 1 in November 2020. This initiative is vital to sustain the safety of flight operations at the airport.
Airport Master Plans: Airport master plans for KUL and five other airports – PEN, BKI, KCH, SBW and TWU - to cater for future
growth were completed in 2020 Airport Capacity Planning is completed for KUL, PEN, BKI, KCH, SBW and TWU.
Subang Airport Regeneration: Began the master planning for the regeneration of Subang Airport which will revitalise the existing
airport ecosystem, and position it as a vibrant city airport, a hub for business aviation and a complete aerospace ecosystem.
Key Performance Indicators and Targets
Our current state of airport capacity is illustrated in the section Where We Operate on page 18 and 19.
2. Total Airport Experience
Refers to the quality of services delivered to our customers to enhance their airport experience. During the pandemic, instilling
passenger confidence in the airport includes temperature checks, providing a contactless experience and the enforcement of
public health measures.

Government
Survivability Fixing the Horizontal Critical Asset

Basics Expansion Replacement
Financial Intellectual Social Financial
The Single Token Journey: This initiative promotes a contactless journey through the airport using facial recognition technology
so that with a single identification verification, passengers can navigate all the airport’s touchpoints from check-in to the boarding
gate.
'Happy Guests, Caring Hosts': We formulated an online refresher course for the ‘Happy Guests, Caring Hosts’ programme and
made it compulsory for all Malaysia Airports’ employees to participate to ensure that our employees are ‘ready for action’ once
the industry recovers.
#1Improvement1Week: Malaysia Airports initiated this to continuously improve passengers’ experience at our airports.
Approximately 150 improvements have been made since 2018 for a more seamless journey for passengers navigating the airport.
50 of them were implemented in 2020 focusing on the safety and security of passengers in light of the COVID-19 pandemic.
Enhancements to Airport Infrastructure: We proceeded to make enhancements to airport infrastructure to improve the
experience of our guests in the future. This includes the completion of runway rehabilitation works, the replacement of the
Baggage Handling System and Aerotrain, IT core network upgrading and the Commercial Reset.
Washroom Refurbishment: Malaysia Airports launched the Washroom Improvement Programme in efforts to improve our
washroom performance to meet the MAVCOM's Quality of Service framework. This enabled KUL to consistently pass monthly
washroom inspections by MAVCOM in Q3 2020 and contributed to KUL being placed in the top 10 performing airports in the
global Airport Service Quality (ASQ) survey for 2020 for airports >40mppa.
MATERIAL MATTERS
Social Media Engagement: We used social media extensively to update our guests and stakeholders on COVID-19 related
announcements, Standard Operating Procedures and travel advisories made by the authorities especially during the early stages
of the Movement Control Order. We also used social media to answer enquires by our guests in a timely and efficient manner.
KUL ASQ Scores Improved In 2020 Types of Feedback Received in 2020

ASQ Score 2020 2019 2018 Type of feedback 2020 2019
Courtesy & helpfulness of staff 4.90 4.62 4.50 Enquiries 13,884 9,626
Comfort of waiting/gate areas 4.86 4.51 4.37 Lost & Found 1,083 4,295
Speed of baggage delivery 4.71 4.51 4.43 Complaints 357 1,166
Waiting time to check-in 4.87 4.37 4.25 Compliments 476 999
Waiting time at Passport check 4.85 4.48 4.37 Suggestions 116 448
Ambience of the airport 4.91 4.67 4.59 Total 15,916 16,534

3. Digitalisation
Digitalisation refers to the digital framework encompassing enhancement, capacity development and digital innovations that
aim at terminal optimisation, operational efficiency, revenue generation, regulatory compliance and health protection during the
COVID-19 pandemic.
Regulators and Employees Airlines Passengers Tenants Vendors and Investors The Media
Government Service Providers
Digitalisation
Financial Intellectual Human Social Financial
KUL Network Refresh: The IT network for KUL is now compatible with 5G, WiFi6 and Internet of Things (IoT).
The Single Token Journey: Promotes a contactless journey through the airport using facial recognition technology.
The Passenger Reconciliation System: An automated security screening system that heightens security and airline operational efficiency.
Automated ultra-violet disinfection: Used to disinfect high-traffic areas and arriving baggage.
Introduction of Aerobot at SAW: A social robot that assists passengers in wayfinding.
Launch of shopMyairports e-commerce platform: Enables airport retailers to sell to the wider public.
Microsoft Office 365 deployment: Facilitated work-from-home measures and on-line training.

Digitalisation Performance Indicators
Key Performance Indicators FY20 FY19
Total active users (MYAirports & shopMYairports) MYAirports - 9,411 -
shopMYairports - 2,752
% internet and digital revenue (shopMYairports) Royalty RM17,224.5 -

(from sales RM344,490.0)
Number of online transactions/amount (shopMYairports) 1,111/RM344,490.0 -

MATERIAL MATTERS
4. Airport Safety and Security
Airport safety and security refers to the anticipation, recognition, evaluation and control of hazards or threats arising in or from
the airport. The COVID-19 pandemic has heightened the need to safeguard the safety, security, health and wellbeing of airport
users and the airport community.
Regulators and Employees Airlines Passengers Tenants Investors Local The Media
Government Community
Fixing the Horizontal

Basics Expansion
Manufactured Intellectual Social Human Financial
Corporate Crisis Management Team (CCMT): In March, we activated the CCMT as part of our business continuity plans. The
CCMT, which is chaired by the Group Chief Executive Officer, provided strategic direction and communications pertaining
to recovery and sustainability of Malaysia Airports' business operations, maintenance of service levels and engagement with
stakeholders. The CCMT convened regularly throughout the year, logging weekly meetings in 2020.
KUL COVID-19 Committee: This committee was formed to ensure a coordinated response by Malaysia Airports, government
agencies and relevant stakeholders. Together, the multi-stakeholder committee brainstormed and rolled out new measures to
comply with SOPs prescribed by the National Security Council, and to create a contactless and sanitised airport environment to
build public confidence in the safety of our airports, while maintaining smooth operational flow.
New Standard Operating Procedures (SOPs): These incorporate public health measures in the airport terminal which include
physical distancing, the mandatory use of face masks by guests and the airport community in the terminal, contact tracing, entry
and exit temperature screening for arriving and departing passengers, facilitation of COVID-19 testing by Ministry of Health
officials for arriving passengers, the availability of hand sanitisers throughout the terminal and the issuance of personal protective
equipment to employees based on their job requirements.
Awareness: To keep our passengers and airport community vigilant, we made frequent announcements within the terminals on
social distancing, put up physical and digital signages and communicated with the public regularly via the mainstream media
and social media. We increased internal communication to staff and airport stakeholders via email and weekly committee
engagements.
The Passenger Reconciliation System: This automated security screening system heightens security and airline operational
efficiency by scanning and matching information on passenger travel documents to the airline’s passenger database in real time.
It alerts the airline if, for example, there is a need to offload a passenger’s baggage in the event of a no-show. It also enables the
airport to operate an ‘open gate’ system.
Leveraging technology: New safety equipment has also been deployed at the airports including state-of-the-art thermal
scanners and security scanners as well as sneeze guards.
Sanitising and disinfecting the airport: The airports’ common amenities and facilities such as lifts, counter tops, trolleys,
doorknobs and handrails are sanitised regularly. Public areas in the airports are sanitised eight times a day or once every three
hours. Ultra-violet technology is used to sterilise handrails at walkalators and escalators, disinfect washrooms and disinfect all
arriving baggage at KUL.
2020 2019 2018
Number of Aerodrome Emergency Exercises (AEX) conducted 11 77 70

Percentage of targeted safety exercise completed (%) 12 100 100
Number of Safety Management System (SMS) Certified Airports 16 16 16
Occupational disease rate 0 0 0.3
Incident Rate 0.80 1.31 0.91
Frequency Rate 0.32 0.45 0.36
Severity Rate 6.41 423.65 9.46
MATERIAL MATTERS
5. Economic Performance
Economic performance refers to the direct economic value generated and distributed by Malaysia Airports.

Government
Survivability Horizontal
Expansion
Financial Intellectual Social Human Financial
1. Group-wide cost containment measures

2. Deferment of selected major infrastructure developments
3. Recouped receivables from key parties
4. Negotiated on utility costs
2020 2019
Total economic value generated (RM'mil) 2,041.0 5,478.0

Economic value distributed (RM'mil) 2,047.0 4,034.0
Economic value retained (RM'mil) -6.1 1,444.0
Operating costs 55.2% 44.7%
Capital providers 32.4% 18.0%
Employees 36.3% 22.8%
Government -24.4% 14.5%
6. Integrity and Anti-corruption
Integrity refers to the act of upholding ethics in our everyday conduct in the workplace. This includes advocating anti-corruption
across all levels of dealings. Acts of corruption include, among others, bribery, fraud, the offer or receipt of kickbacks in return for
facilitating a transaction or appointment.
Regulators and Employees Vendors and Investors

Government Service Providers
Governance
and Process
Intellectual Human Financial
Corruption Risk Management Workshop: We organised a series of five Corruption Risk Management workshops in January and
February of this year. By May 2020, all divisions had identified and registered 510 corruption risks in the Malaysia Airports’ risk
scorecard. From the 510 registered risks, 25 were identified as risks related to corporate liability under the newly enacted Section
17A of the MACC Act.
Whistleblowing Policy: A revised Whistleblowing Policy was approved by the Board of Directors on 30 November 2020.
Guidelines: As a follow through on our ISO certification obtained in 2019, Malaysia Airports developed Guidelines on Anti-
Corruption Due Diligence to guide the relevant companies and divisions in the Group on fulfilling the requirements of Guidelines
on Adequate Procedures and MS ISO 37001:2016 Anti-Bribery Management Systems.
Organisational Anti-Corruption Plan: We started the development of the Organisational Anti-Corruption Plan (OACP) with the
completion of three workshops attended by OACP development committee members. The draft OACP is pending approval by
the ExCo and Board Audit Committee.
Learning and Development: We developed online learning modules to create awareness among employees on corruption.
100% of employees have completed the e-learning course.
2020 2019
Employees briefed on anti-corruption P&Ps (Management, Executives and Non-Executives) 9,313 1,613
Number of confirmed incidents 0 5
Number of concerns raised through the Whistleblowing Programme 20 10
MATERIAL MATTERS
7. Transportation and Connectivity
Transportation and connectivity refers to ground transportation and connectivity for passengers, employees, visitors and suppliers
within, to and from the airport.
Regulators and Employees Airlines Passengers Tenants Investors Local The Media
Government Community
Fixing the Horizontal

Basics Expansion
Financial Manufactured Financial
Maintained existing ground network: We maintained our existing ground connectivity network, which includes the number
of operating routes and availability of public transportation such as the Light Rail Transit and Express Rail Link services, for the
convenience of travellers who were eligible to travel.
Passenger Movements (Malaysia Operations) 2020 2019

Terminal passengers (international) 9,450,653 53,195,236
Terminal passengers (domestic) 16,249,991 51,962,942
Transit passengers 59,945 104,388
Total passenger movements 25,760,589 105,262,566
Aircraft Movements (Malaysia Operations) 2020 2019

Commercial aircraft (international) 99,304 351,038
Commercial aircraft (domestic) 249,267 542,405
Total commercial aircraft 348,571 893,443
All other aircraft 110,151 152,780
Total aircraft movements 458,722 1,046,223
8. Regulatory Compliance
Regulatory compliance refers to the compliance with all international and national laws and regulations, including environmental,
social and operational regulations.
Regulators and Employees Airlines Tenants

Government
Fixing the Critical Asset

Basics Replacement
Manufactured Intellectual Financial
We comply fully with the applicable laws and guidelines under the provisions of the Malaysian Aviation Commission Act 2015,
specifically Part VII of the Act which deals with competition. As the Malaysian Aviation Commission Act 2015 is excluded from the
application of the Competition Act 2010, Malaysia Airports is therefore subject to the guidelines issued by MAVCOM relating to
Part VII (Competition) of the Malaysian Aviation Commission Act 2015. On 1 June 2020, a new Section 17A of the Malaysian Anti-
Corruption Commission Act 2009 (MACC Act) came into force. Companies may now be liable to legal proceedings for corruption
offences committed by associated persons.
2020 2019
Number of non-compliance with applicable laws or regulations None 1 case in KBR - with regards
to Sewage Treatment Plant
Regulation: Environment
Quality (Industrial Effluent)
Regulations
Amount of fines or non monetary sanctions in relation to non-compliance None RM2,000
Sustainability Summary
This table summarises the way our business considerations, which are represented by material matters; and sustainability matters
represented by the Sustainability Pillars; relevant SDGs, KUL Sustainability Charter Goals and our Key Stakeholders are intrinsically
linked in Malaysia Airports’ strategy.
Sustainability Pillars UN SDGs KUL Sustainability Material Matters Key

Charter Goals Stakeholders
SDG 8: Decent Work and Goal 1: Optimising Airport Capacity Regulators and
PILLAR Economic Growth Economic Performance Cybersecurity Government
1 SDG 9: Industry,
Innovation and
Digitalisation Employees
Economic Performance Airlines
Practising Sensible Infrastructure
Market Presence Passengers
Economics SDG11: Sustainable Cities
and Communities Procurement Practices Tenants
Generate sustainable
Regulatory Compliance Vendors and Service
returns from business
Providers
activities by strengthening
Investors
and optimising revenue
streams The Media
SDG 6: Clean Water and Goal 2: Improving Climate Change Regulators and
PILLAR Sanitation Energy Efficiency Energy Efficiency Government
2 SDG 7: Affordable and
Clean Energy
Goal 3: Reducing
Overall Carbon
Emissions Employees
Waste and Effluent Airlines
Environmental SDG 11: Sustainable Cities Footprint
Management Passengers
Consciousness and Communities Goal 4: Enhancing
Water and Waste Water Management Tenants
Manage and reduce SDG 12: Responsible
Consumption and Management Vendors and Service
the impact on the
Production Providers
environment from
SDG 13: Climate Action Investors
business activities
Local Community
The Media
SDG 5: Gender Equality Goal 5: Being a Diversity Regulators and

PILLAR SDG 9: Industry, Responsible Service Employee Engagement Government
3 Innovation and
Infrastructure
Provider
Goal 6: Promoting
and Development Employees
Integrity and Anti-
Creating an Inspiring SDG 16: Peace, Justice Diversity and Inclusivity corruption
Workplace and Strong Institutions
Value our employees, SDG 17: Partnerships for
provide development the Goals
opportunities and embed
good governance
Sustainability Pillars UN SDGs KUL Sustainability Material Matters Key

Charter Goals Stakeholders
SDG 1: No Poverty Goal 7: KUL Contributions to Local Regulators and

PILLAR SDG 3: Good Health and Community Community Government
4 Well-Being Development Through
Partnerships
Human Rights Employees
SDG 4: Quality Education Local Community
Community-Friendly SDG 10: Reduced The Media
Organisation Inequalities
Support and strengthen SDG 17: Partnerships for
community engagement the Goals
and efforts to develop
programmes to meet
the needs of local
communities
SDG 9: Industry, Goal 8: Providing Airport Safety and Regulators and

PILLAR Innovation and Exceptional Customer Security Government
5 Infrastructure
SDG 11: Sustainable
Experience
Goal 9: Optimisation
Total Airport
Experience
Employees
Airlines
Memorable Airport Cities and Communities through Technological Transportation and
Advancement Passengers
Experience SDG 16: Peace, Justice Connectivity
and Strong Institutions Goal 10: Strengthening Tenants
Enhance the travel
SDG 17: Partnerships for Safety and Security Investors
experience of airport
the Goals at KUL The Media
guests to support our
brand promise of hosting
joyful connections
80 Malaysia Airports Holdings Berhad >> Our Performance
Management Discussion and Analysis
Under the most challenging

business conditions for the
aviation industry globally,
Malaysia Airports took
immediate and proactive
steps to face the crisis
head-on. We formulated
and executed a plan to
ensure the Group’s survival
and sustainability through
the year’s turbulence and
our readiness for growth
when the industry recovers.
Dato’ Mohd Shukrie Mohd Salleh

Group Chief Executive Officer
Annual Report 2020 >> Our Performance 81
Armed with this realisation, we formulated a plan outlining

the necessary measures for Malaysia Airports, not just to
survive the crisis, but to be in the position to capitalise on
growth opportunities once the industry recovers. The plan
was presented to the Board of Directors and was approved
in March, based on three underlying principles – cost
containment, cash preservation and cash recovery. It was also
agreed that the plan was to be executed immediately.
For the plan to succeed, it was crucial for us to communicate

with our employees to obtain their buy-in and support. In early
April, we called for a virtual townhall with all employees, with
thousands of them joining via video conferencing. We outlined
the facts in an open and transparent manner, explaining to
our people the gravity of the situation, and the steps that
we had to take as we headed towards the biggest battle of
our careers. We also assured our people that we were all in
this together for the long haul, and that we hope to emerge
stronger together from this crisis. It was important that our
entire workforce understood that there was a clear plan to deal
with the crisis, and with that level of preparedness, we should
face the challenges with a positive mindset.
Several more townhalls were conducted regularly throughout

Dear Stakeholders,
the year to keep our people updated on the progress of
Malaysia Airports began 2020 on a strong footing backed by our COVID-19 response. These were supplemented by daily
a solid performance in 2019 in terms of passenger traffic and internal communications to ensure we kept everyone informed
financial performance. Nevertheless, very early in the year, we of the latest developments. This was important because in
had become increasingly concerned about the emergence response to the pandemic, where feasible, Malaysia Airports
of the novel coronavirus which had begun spreading across had instituted a work from home policy to safeguard the
borders, and intuited that we were facing an impending crisis. health and safety of our employees.
Malaysia Airports took a serious view of the escalation of

both the spread of COVID-19 as well as its impact on the
aviation industry and immediately initiated steps to mitigate
the effects on the Group. We activated a Corporate Crisis
Management Team (CCMT) for COVID-19, comprising our
senior management team across divisions to provide direction
on a coordinated response, both Group-wide and with external
stakeholders. The CCMT convened regularly throughout the
year, logging weekly meetings in 2020.
In a crisis, it is always important to have clarity about the

threats we are facing. Through extensive stress-testing and
scenario-planning, it soon emerged that the main threat
posed to Malaysia Airports was that of cash flow and liquidity,
as our primary source of revenue – the aeronautical business –
would face severe pressures as travel restrictions disrupted the
aviation industry globally.
Over the course of the year, the

tremendous courage and willingness that
our people demonstrated to step up to
the challenge have been the driving force
and motivation that powered us through
the year.
Among the immediate steps we had taken were to approach

key stakeholders in Malaysia and Turkey, as well as at Hamad
International Airport (IATA Code: DOH) in Doha, Qatar. This
includes the asset owners such as the government of Malaysia,
the Turkish Ministry of Defence and the management of DOH
from whom we sought payment deferrals and leeway in the
terms of the operating and concession agreements. This also
includes the lenders who had provided the syndicated loan for
the Istanbul Sabiha Gökçen International Airport (IATA Code:
SAW) concession, our bankers in Malaysia as well as sukuk
holders of Malaysia Airports’ Islamic Medium Term Notes. We
also engaged with analysts and the rating agencies to assure
them that we had a solid plan which dealt with the exigencies
of the situation, and with the post-pandemic growth phase as
air travel resumes.
As KL International Airport (IATA Code: KUL) remained as

an international gateway throughout the pandemic, a KUL
COVID-19 Committee was also formed very early on to enable
a coordinated response by Malaysia Airports, government
agencies such as the National Disaster Management Agency
and Ministry of Health, and other airport stakeholders to
implement the standard operating procedures (SOPs)
prescribed by the National Security Council.
In addition to working towards ensuring the Group’s financial

sustainability, we had also acted quickly to incorporate public
health and safety measures at the airports. The health and
safety of our passengers as well as that of our employees and
airport community on the frontlines of the pandemic were
at the forefront of our priorities. For the aviation industry to
recover and restart, it was imperative for passengers and
airport users to feel confident that their wellbeing and safety
are of paramount importance.
We rolled out Innovation Garages to embed digitalisation in At the KLIA Aeropolis, despite the pandemic disrupting
the new SOPs in order to improve the passengers’ journey two months of construction work, the 100,000 sqm Cainiao
through the airport. This was important as the new SOPs were Aeropolis eWTP Hub was completed and delivered on
potentially disruptive to passengers, so we brainstormed and schedule, and commenced operations in November. This
innovated to incorporate the new norms while improving is Alibaba’s first electronic World Trade Platform (eWTP)
passenger flow and maintaining high service levels. hub outside of China and forms part of the e-commerce
titan’s global network of distribution centres. The hub will
Having taken steps to safeguard the Group’s sustainability, also position Malaysia Airports to capture opportunities in
our focus moved towards generating revenue. Among others, e-commerce and the cargo business.
this resulted in the formulation of the Network Reconnecting
Programme to incentivise airlines to resume their flights to As we envisaged the future of the aviation industry post-
our airports. In addition, innovations such as travel retail pandemic, we believe that every crisis presents opportunities.
ecommerce platform, airport-wide sales events and airport Seeing that the pandemic has had a seismic impact on so
staycations emerged as new ways to generate revenue and many areas of the aviation industry, this was an opportunity
reach new customers, including non-travellers. for Malaysia Airports to institute a ‘ground zero reset’ of
our business. Building on the Group’s near-term plan of
Towards the final quarter of 2020, we extended relief packages survival and recovery, we reformulated our 5-Year Strategy
to tenants at the airport, particularly to small and medium and Transformation Plan, known as Future F.I.T., to focus
enterprises. As the airport business operates as an ecosystem also on building capacity and capabilities today to capture
and each stakeholder contributes to the smooth functioning opportunities post-pandemic.
and travel experience of airport users, we wanted to contribute
towards alleviating the financial burden faced by our partners Future F.I.T. outlines our strategies for two phases. In the first
so that we are able to overcome this crisis together. phase, our focus is to survive and recover from the crisis in the
short term till 2022. Beyond that, in the second phase from
While we faced myriad challenges in the course of our work 2023 till 2025, our focus will turn to positioning ourselves for
this year, our people continued to focus firmly on our business future business growth and sustainability.
goals. We doubled our efforts across all divisions in every
aspect of the Group’s operations and were uncompromising in F - Financially sustainable
our drive to enhance our service levels. I - Impact driven
T - Technology focused
As a result of the commitment and efforts of our frontline
staff towards fulfilling our brand promise ‘Hosting Joyful With the benefit of hindsight, our early and comprehensive
Connections’ and embodying our ‘Caring Hosts’ culture, KUL response to the pandemic has been key in contributing to the
ranked within the Top 10 Airports globally (>40 mppa) in the Group’s survival. In 2020, Malaysia Airports’ entire network of
Airport Service Quality (ASQ) rankings by Airports Council airports including SAW had recorded a contraction of 69.6%
International for 2020. Compared to our rank at #17 in 2019, in passenger movements, compared to 2019. Globally, the
we had achieved a momentous leap forward amidst the global International Air Transport Association (IATA) described 2020
pandemic. as a ‘catastrophe’ for the industry, citing that global demand
for air travel had fallen by 65.9% compared to 2019, which was
Another example of our employees’ commitment was in the the sharpest traffic decline in aviation history. It was indeed a
major project involving the migration of KUL’s Core IT Network.
year unlike any other.
The network refresh was completed in the record time of
four months despite challenges posed by movement control
With this introduction, we are pleased to present this
orders. Following this, the IT network for both KUL terminals is
Management Discussion and Analysis which provides
now compatible with 5G, WiFi6 and Internet of Things, and will
stakeholders with a holistic explanation of the performance of
have at least 10 times the capacity of the previous network. The
new network will also be able to fulfil the increased demand our business against the backdrop of the COVID-19 pandemic.
from technology in the new norms. We will also outline our key strategies and proactive initiatives,
as well as describe our plans in charting the way forward in
2021 and beyond.
An extraordinary year in review Key Airport Statistics
Impacted by travel restrictions

Malaysia Airports’ financial and business performance for
2020 is to be viewed in light of the unprecedented operating Passenger and aircraft movements declined amidst travel
environment and business conditions. Various travel restrictions restrictions and border control measures while the cargo
had affected air traffic and passenger movements, the drivers sector was more resilient as demand for health and medical
of our airport operations, in particular the aeronautical supplies rose during the pandemic.
business, which is the mainstay of our revenues. In addition,
the restrictions also affected other revenue streams which rely Passenger Movements (million)
on passenger traffic, primarily, rental and royalties, retail and
Group MY SAW
hotel businesses.
43.0 25.8 17.2
-69.6% -75.5% -52.1%
Commercial Aircraft Movements
Group MY SAW
471,580 348,787 122,793
- 58.0% -61.0% -46.7%
Cargo Movements (tonnes)
Group MY SAW
834,718 794,307 40,411
-16.8% -15.8% -31.9%
MY: Malaysia operations
SAW: Turkey operations at Istanbul Sabiha Gökçen International Airport
% refers to year-on-year change compared to 2019
Group-wide
Malaysia Airports’ entire network of airports including SAW
recorded 43.0 million passenger movements in 2020, a
contraction of 69.6% compared to 2019’s record of 141.2
million. International passenger movements totalled 14.8
million while domestic passenger movements totalled 28.2
million.
Commercial aircraft movements declined by 58.0% YoY with

international and domestic aircraft movements contracting by
68.7% and 50.9% respectively YoY.
Cargo movements also declined, but by only 16.8% YoY, with a

total of 834,718 tonnes for the year.
Airports in Malaysia
Passenger movements in Malaysia totalled 25.8 million,
declining 75.5% over 2019 which had seen passenger
movements surpass the 100 million mark for the first time in
Malaysia. International passengers accounted for 9.5 million
passenger movements while domestic travel accounted for
16.3 million passenger movements. This represents a YoY Cargo movements had also fallen but by 26.5% YoY, registering
decline of 82.2% and 68.7% respectively. 505,184 tonnes for the year.
The year had started off on a bright note with record-setting Airports in Malaysia excluding KUL
passenger numbers in January and February. However, when Passenger movements for the other airports in Malaysia
travel restrictions came into effect in March, the impact was excluding KUL registered a decline of 70.6% YoY with a total of
immediately apparent as from March to May, passenger 12.6 million passenger movements. This comprised 1.3 million
movements declined by 85.9% compared to the same period international passenger movements, a 84.9% decline YoY, and
a year ago. Between October and November, passenger 11.3 domestic passenger movements, a 67.2% decline YoY.
movements declined again by 94.2% compared to the same
periods in 2019 as COVID-19 numbers spiked again in Malaysia. Commercial aircraft movements for the airports collectively
However, in months unaffected by domestic interstate travel totalled 224,258, a decline of 53.9% YoY.
restrictions, domestic traffic gained momentum and surpassed
1.0 million passenger movements in July, August, September SAW
and December, indicating that there was still a strong demand SAW passenger movements declined to 17.2 million, a 52.1%
for air travel in Malaysia. YoY decline compared to 36.0 million in 2019. International
passenger movements fell by 62.7% YoY to 5.3 million and
Towards the end of 2020, weekly seat capacity of domestic domestic numbers fell 45.2% YoY to 11.9 million. Total aircraft
sectors at KUL had recovered to 44.2% of the level at the movements declined 46.7% YoY to 122,793 in 2020.
beginning of the year in January. Domestic load factor in the
final week of December at KUL stood at 79%, with the same After SAW reopened on 1 June after a two-month closure,
rate of materialisation for planned scheduled flights. Domestic and with restrictions on intercity and international travel lifted,
travel contributed to 63.2% of total passenger traffic for domestic flights restarted, and on 10 June, international flights
Malaysia operations in 2020, compared to 49.4% in 2019. resumed.
Commercial aircraft movements declined by 61.0% YoY with SAW, dubbed ‘Istanbul’s City Airport’, is a popular airport for
international aircraft movements declining 71.7% and 54.0% domestic travel and travel to European destinations. In 2020,
respectively YoY. the airport maintained its position within the Top 10 busiest
airports in Europe fuelled by Turkey’s main airlines, Turkish
Cargo aircraft movements for Malaysia operations declined Airlines and Pegasus. In 2020, Turkish Airlines consistently
by 15.8%, faring better than passenger movements in line ranked #1 among European carriers in terms of the highest
with the increased demand for health and medical supplies, number of flights operated in Europe, while Pegasus ranked
despite a reduction in belly space cargo as passenger flights #8 in December.
were grounded. Domestic cargo volume movements grew
1.2% YoY, with 188,240 metric tonnes in 2020. Passenger movements improved sharply for European
countries from June onwards. From August onwards except
KUL for December, SAW has maintained passenger traffic above
KUL recorded 13.2 million passenger movements in 2020, 50% of traffic in the corresponding month in 2019, with
a decline of 78.9% YoY. Both international and domestic October registering passenger traffic equivalent to 73% of
passenger movements contracted, with international declining that in February, namely the last month of pre-COVID-19
81.7% and domestic declining 71.7% YoY. Comparing the two traffic. In December, air traffic had slowed due to a restricted
KUL terminals, passenger movements at KLIA1 contracted by curfew imposed in November following a winter resurgence of
79.4% YoY while passenger movements at klia2 contracted by COVID-19 cases in Turkey and neighbouring countries.
78.5% YoY.
Following the Turkish government’s decision to reopen its
Commercial aircraft movements totalled 124,529, falling 69.4% borders in June, the average load factor for SAW has since
YoY. recovered to a seven-month average of 70% from June to
December, signalling strong demand for air travel for SAW.
Malaysia’s travel restrictions for 2020

pursuant to the Prevention and Control
of Infectious Diseases Act 1988
Restrictions on visitors from COVID-19 hotspots from

27 January onwards
The Malaysian government imposed a ban on travellers
from the city of Wuhan in China and the surrounding Hubei
province as a novel coronavirus had begun to spread in
the area. This was later extended to travellers from other
hotspots in China, Denmark, Korea, Japan, Iran and Italy as
the virus spread from country to country.
Movement Control Order effective 18 March

The Movement Control Order closed Malaysia’s borders
to all non-Malaysians, and restricted Malaysians from
travelling overseas, and these restrictions continued till the
end of 2020, and remain in force at the time of writing of
this report. Domestic interstate travel was generally not
permitted except in very exceptional circumstances with
prior written permission from the police. This grounded
almost all flights to and from our airports except for
repatriation, charter and cargo flights. Also, effective 3 April
2020, Malaysia imposed a compulsory 14-day quarantine at
a government-designated facility on all persons entering
the country.
Conditional Movement Control Order effective 4 May

The travel restrictions under the Movement Control Order
above remained unchanged for the general public. This
extended over one of Malaysia’s peak travel periods, the
Hari Raya Aidilfitri festive period. In Turkey, our airport in Istanbul, SAW, was also affected by
travel restrictions imposed by the Turkish government, which
Recovery Movement Control Order effective 10 June resulted in the temporary closure of the airport.
In this period, there was relaxation of travel restrictions with
interstate travel and domestic tourism activities allowed to Travel restrictions imposed
resume, except to areas which had been designated under by the Turkish government led to the
the stricter Enhanced Movement Control Order. temporary closure of SAW
Conditional Movement Control Order effective 12 October Travel restrictions from 28 March till 31 May
As Malaysia experienced a spike in COVID-19 cases, the The government suspended all international flights and
Conditional Movement Control Order was reimposed, restricted intercity travel to stem the spread of COVID-19.
with interstate travel once again restricted to very limited As a result, SAW shut down on the night of 28 March after
purposes with prior permission of the police. The restrictions serving its last domestic flight that evening. This was the first
on interstate travel were lifted from 7 December until the time ever in the history of SAW that the airport was closed
Movement Control Order was reintroduced on 13 January to traffic since it opened in 2009. The airport reopened for
2021, effectively reinstating the interstate travel ban. operations on 1 June.
Financial Measures and Performance while driving operational excellence. Through the lab, we
reviewed the operations at five major subsidiaries - Malaysia
Preserving liquidity to ensure sustainability
Airports (Sepang) Sdn Bhd [MA (Sepang)], Malaysia Airports
Proactive cost containment, cash preservation and Sdn Bhd (MASB), Malaysia Airports (Niaga) Sdn Bhd [MA
cash recovery measures ensured that Malaysia Airports (Niaga)], Urusan Teknologi Wawasan Sdn Bhd (UTW) and
remained sustainable throughout the turbulent year. MAB Agriculture-Horticulture Sdn Bhd (MAAH) - which
together cover airport operations in Malaysia, duty free
Assets and Liabilities - Cash Balances, Bank Borrowings
and non-dutiable goods, project and repair maintenance
and Liquidity
and agriculture and horticulture. The exercise yielded cost
Cost containment containment of RM145.0 million in 2020 alone.
Group-wide, we reduced operational expenditure and strictly
prioritised maintenance capital expenditure for mission-critical Another prime example of sustainable cost containment
projects, while deferring other capital expenditure. followed from the review of our energy framework. Energy
costs make up a substantial portion of our operating costs,
Cost containment exceeded targets with approximately RM400.0 million spent on energy in 2019.
In 2020, we achieved a one-off or temporary cost reductions
Total cost reduction when the government agreed to extend the discount on
electricity tariffs to MA Sepang from April to September, and
RM1,155.7 mil also through the replanning of operations in under-utilised
-36.3%
areas of KUL.
Core operating costs reduced

However, we pursued a more ambitious plan to achieve
RM563.1 mil sustainable cost containment in energy, by re-examining our
-26.1% vs targeted -20% energy framework. As a result, our new joint venture with
TNB Engineering Corporation Sdn Bhd for cooling energy
Critical maintenance CAPEX supply will bring about sustainable energy cost savings of
over RM50.0 million annually. The cost savings are derived
RM189.7 mil
from modernising KUL’s district cooling plant to improve its
efficiency and to run fully on electricity. This also represents a
Maintenance CAPEX deferred switch from the use of turbines fuelled by hydrocarbon gas to
electricity-powered, which is a cleaner option.
RM1,500.0 mil
Cash preservation
Malaysia Airports made early approaches to key stakeholders
Critical maintenance capital expenditure was limited to key to defer certain payments due in 2020 and 2021. Therefore,
projects for future growth – core IT network replacement for as at 31 December 2020, the Group’s cash and money market
KUL, runway rehabilitation, washroom refurbishment works, investments stood at RM1,717.0 million, which was 46.9% less
Single Token Journey via facial recognition, as well as the than the previous year.
replacement of the Baggage Handling System (BHS) and
Aerotrain Track Transit System. Among the main cash preservation measures was deferment
of user fees under the Operating Agreements for Malaysia
In terms of core operating costs, the pandemic provided us operations in which the government of Malaysia agreed
with the opportunity to innovate, rethink and reimagine our to defer the fees due for 2020 till April 2021. The Turkish
operations and costs structures. Among the initiatives was government agreed to defer indefinitely the utilisation fee
a Cost Lab launched in March that utilises Lean Six Sigma for SAW of EUR114.8 million which would originally be due
methodology to seek out cost containment opportunities in January 2021.
Malaysia Airports also rearranged the syndicated loan for Maintained credit ratings despite challenging business
SAW in which the lenders agreed to extend the loan tenure environment
by two years to 2025 and granted a payment holiday for loan Despite the challenges of the operating environment, Malaysia
repayments due in December 2020 and June 2021. As such, Airports maintained its credit ratings by Rating Agency of
only EUR10 million is due for repayment in 2021. Malaysia (RAM) and Moody’s.
Additionally, we had also sought the deferment of payment

from key suppliers to preserve our cash position.
Rating Agency of Malaysia Moody’s
AAA A3
Cash recovery
By proactively engaging with the Malaysian Government,
we secured the government’s agreement for the recovery
of claims by Malaysia Airports for Marginal Cost Support Financial performance for FY2020
(MARCS) and tax refunds. Recovery from commercial partners
was also improved by mutually agreed repayment plans, set- Revenue EBITDA Loss After Tax
off against qualifying incentives, forfeiture of security deposits RM1,866.3 mil RM21.6 mil (RM1,116.2 mil)
and litigation. -64.2% -99.1% -307.9%
On the back of the substantial decrease in passenger numbers,

Recovery of receivables revenue for FY2020 amounted to RM1,866.3 million, a
RM1,300.0 mil contraction of 64.2% from FY2019’s record-breaking RM5,213.1
million. Revenues from Malaysia operations declined 67.3%
YoY to RM1,233.9 million while revenues from Overseas
operations declined by 56.0% YoY to RM632.4 million.
New credit facilities
Taking advantage of the prevailing low interest rate Total Group EBITDA amounted to RM21.6 million, which
environment and Malaysia Airports’ strong credit ratings, the is 99.1% lower than FY2019. The contributions by Malaysia
Group redeemed its existing Islamic Medium Term Notes operations was -RM321.9 million, and Overseas operations
of RM1.0 billion which carried a 4.55% annual profit rate in was RM343.5 million, which were -124.5% and -64.8% lower
August. In November, we tapped the Sukuk market to raise than their contributions to EBITDA in FY2019.
RM700 million through the issuance of two tranches of new
Senior Sukuk of RM480 million (7-year tenure) and RM220 Total Loss After Tax for the Group stood at -RM1,116.2
million (10-year tenure) with annual distribution of 3.3% and million, which is -307.9% YoY. Malaysia operations registered
3.6% respectively, marking the longest ever tenure and lowest a Loss After Tax of -RM260.1 million while overseas operations
ever profit rates under the Senior Sukuk programme. registered a Loss After Tax of -RM856.1 million. Compared to
FY2019, these amount to -144.6% and >1,000% for Malaysia
As a contingency, we also obtained new stand-by revolving and overseas operations respectively. FY2020 is the first year in
credit facilities of RM1.1 billion from our bankers. As at 31 which Malaysia Airports has recorded a loss in its entire history.
December 2020, total borrowings for the Group stood at
RM4,644.7 million, a slight decrease of -5.8% YoY while total The FY2020 financial results include non-core, one-off items
undrawn facilities stood at RM2,900.0 million. The Group relating to amortisation, provisions and rebates, as well as tax-
continues to strictly observe financial covenants to comply related credits.
with fund requirements and internal guidelines.
Aeronautical Business
Significant one-off items impacting
FY2020 financials
Operating in the new normal
Impairment of Intangible Assets relating to SAW (namely We focused on implementing health and safety measures
the fair value amortisation of the Purchase Price Allocation at the airports, building capacity for future growth and
for SAW concession rights) due to the significant celebrated the return of KUL to the top 10 global rankings
contraction of passenger movements which had a net for service quality.
reduction of earnings of RM400.2 million.
The aeronautical business derives its revenues from airlines
Tax recoverable due to overpayment of tax for YA2014- and passengers who use our airports, as well as cargo which
YA2016 from the single business source assessment of MA is transported through our airports. The main categories
Sepang which monetised receivables for 2020 by RM164.4 of revenues are passenger service charges, aircraft landing
million. and parking charges and charges for use of airport facilities.
These aeronautical revenues are strongly correlated with the
Recognition of deferred tax assets arising from volume of airlines, passenger numbers (in particular, a higher
Investment Tax Allowance received by MA Sepang for proportion of international passengers) and cargo handled
the development of klia2. In FY2018, we recognised using our facilities.
RM1,013 million while the remaining RM1,027.0 million
was recognised in FY2020 at the corporate tax rate of 24% As the aeronautical business is the key revenue driver for
Malaysia Airports, our strategies address the challenges posed
amounting to RM246.5 million.
by the pandemic, ensuring first, survival of the business and
maintenance of airport safety and service levels and secondly,
Provision for Doubtful Debts of RM126.1 million was
building capacity for robust growth when air travel resumes.
made, together with writebacks of RM45.9 million which
resulted in a net allowance of RM80.2 million.
With travel restrictions on international and domestic travel
affecting airport operations in both Malaysia and Turkey as
Accelerated amortisation of physical assets due to the well as in key markets, the sharp decline in air traffic had in turn
planned modernisation of the airports amounted to led to a decline in revenues from the aeronautical business.
RM127.0 million.
In 2020, aeronautical revenues amounted to RM886.2 million,
Rebates to commercial tenants and airlines to support a YoY decline of RM67.9%. Operations in Malaysia contributed
them during the pandemic reduced Group revenue by a RM518.9 million, a YoY decline of 74.0% while aeronautical
net amount of RM180.8 million. revenues from Turkey operations contributed RM367.3 million,
a YoY decline of 52.4%.
These items are more fully explained in the Financial
Statements.
Operations Review
Malaysia Airports’ business operations comprises airport as

well as non-airport operations. Airport operations covers the
two major revenue streams derived from aeronautical business
and non-aeronautical business. These two revenue streams
form the bulk of our total revenues. Non-airport businesses
comprise the hotel, agriculture and horticulture as well as
project and repair maintenance businesses. Beyond that,
there are land development activities relating to the use of
our landbank around the airports which we operate, under the
Aeropolis initiative.
Air Connectivity Strategies, key programmes for 2020

For Malaysia operations, at the end of 2020, a total of 34 For our aeronautical business to survive the pandemic and
airlines were operating global flights to 29 destinations in 21 grow robustly thereafter, the following were our priorities for
countries from Malaysia. During the year, one new passenger the year.
airline began flying to Malaysia, namely STARLUX Airlines
which commenced a Taipei-Penang route (IATA Code: TPE-
PEN). No airline had ceased operations in Malaysia in 2020, Six key priorities for aeronautical business
and although many had temporarily halted their operations in
1 Work with airlines to maintain air connectivity
Malaysia, 70% of which had resumed by the end of the year
albeit with reduced frequencies. 2 Maintain public confidence in the safety of
air travel
For cargo, four new airlines commenced operations to KUL,
3 Improve airport experience to attract and
namely YTO Airlines, Ethiopian Cargo, Cargolux Italia and My
retain passengers
Jet Express Airlines. No new cargo routes were established as
the four new airlines were operating existing routes. 4 Enhance airport infrastructure to build future
capacity
For operations in Turkey, a total of 38 airlines operate to and
5 Leverage on stakeholders to increase
from SAW, comprising five local and 33 foreign carriers. Out of
passenger numbers
the 38 airlines, 32 are passenger airlines while the remaining six
are cargo operators. The airport is linked to 35 domestic and 6 Boost cargo business
80 international destinations covering 38 different countries.
During the year, Pegasus launched a new service to Madinah,

Saudi Arabia in January and Karachi, Pakistan in September 1. Work with airlines to maintain air connectivity
as well as a new domestic route, Igdır from July. In addition, Air connectivity is a critical pillar for the sustainability of our
Anadolujet launched a new service to Cologne, Germany from aeronautical business, and one of the key factors is the decision
June onwards. of foreign airlines to resume flying to Malaysia and for local
carriers to resume their routes. Malaysia Airports announced
three programmes designed to incentivise airlines to resume
flights to and from our airports, as well as to ease their cash
flow as they too had been impacted by the pandemic.
Network Reconnecting Programme

Therefore, in July, Malaysia Airports launched the Network
Reconnecting Programme (NRP) to facilitate and assist airlines
in resuming their services to and from Malaysia. The NRP is a
temporary measure and will run for 18 months from 1 July 2020
till the end of 2021. Its primary aim is to secure the commitment
of airlines to resume international flights to and from Malaysia
as soon as it is practically possible and to position Malaysia as
a top-of-mind destination.
The NRP helps to recover the network that had been lost as
a result of COVID-19. Foreign airlines are given an incentive
in the form of a 50% waiver on landing charges for 12 months
from the date of the resumption of flights to Malaysia.
As of the end of December, 13 foreign airlines had submitted New Standard Operating Procedures (SOPs)
requests to activate their NRP eligibility from 2020 – British The new SOPs incorporate public health measures in the airport
Airways, China Airlines, Etihad Airways, Eva Airways, Japan terminal including physical distancing, the use of face masks in
Airlines, Nepal Airlines, Qatar Airways, Royal Brunei Airlines, the terminal, contact tracing, temperature checks at terminal
Saudia, Silk Air, Singapore Airlines, Scoot Tigerair and Turkish entrances and the availability of hand sanitisers throughout
Airlines. the terminal. New safety equipment has also been deployed
at the airports including state-of-the-art thermal scanners and
Rebate and Payment Scheme for airlines security scanners as well as sneeze guards. Safety compliance
In addition to the NRP, a Rebate and Payment Scheme was officers were deployed on ground to ensure compliance with
introduced for airlines. This grants both foreign and local the ‘new norms’.
airlines a 30% rebate for all aeronautical charges except
Passenger Service Charges from July to December. For the Our airport safety standards meet global standards
13 airlines that had opted for the NRP, rather than a 50% Our airport safety standards are certified under ISO 45001:2018
rebate on landing charges only, they will enjoy the wider 30% as meeting the global standards and requirements of the
rebate under the Rebate and Payment Scheme from July to British Standards Institution. The safety standards also meet
December, and revert to the NRP terms for 2021. the requirements of the Turkish authorities.
Extension of credit terms to airlines Sanitising and disinfecting the airport

In addition to assisting airlines to sustain and resume General workers work in shifts round the clock to regularly
operations at our airports, Malaysia Airports also extended sanitise the airport’s common amenities and facilities such as
its credit terms to airlines to 90 days, from the usual 30 days. lifts, counter tops, trolleys, doorknobs and handrails among
The extended credit terms apply to all gazetted aeronautical others. Public areas in the airports are sanitised eight times a
and commercial charges effective from 1 April and 1 May to day or once every three hours. Ultra-violet technology is used
30 September. to sterilise handrails at walkalators and escalators, disinfect
washrooms and disinfect all arriving baggage at KUL.
2. Maintain public confidence in the safety of air travel
Creating a safe and contactless airport experience through
During a global health pandemic, health and safety are at the
technology
top of the minds of travellers. As the safety of passengers,
Airports 4.0 initiatives have employed technology to create a
employees and the airport community is paramount, from
safe and contactless airport experience for passengers and the
January onwards Malaysia Airports had stepped up on
airport community. A key initiative is the Single Token Journey
additional health and safety measures to protect all airport users
which leverages the use of facial recognition technology for a
by creating a contactless and sanitised airport environment
contactless journey through the airport for passengers from
to minimise the risk of COVID-19. Many of these measures
check-in till boarding. Other contactless initiative include self
leverage on our prior investments in technology, in particular
check-in, self bag-drop, contactless security screening, and
our Airports 4.0 digitalisation initiatives. This in turn builds
the use of e-wallets or mobile payment services at retail and
public confidence in the safety of our airports and enables our
food and beverage outlets throughout the terminal.
employees and members of the airport community working on
the frontlines of the pandemic to have peace of mind at work.
An exciting Airports 4.0 initiative was the introduction of the
Aerobot at SAW, the airport’s first social robot. The Aerobot
A KUL COVID-19 Committee was specially formed in January
communicates in over 20 international languages and assists
to coordinate with government agencies and relevant
passengers in wayfinding while reminding them about the new
stakeholders at KUL on the implementation of SOPs prescribed
travel norms in place at SAW.
by the National Security Council and to communicate public
updates.
3. Improve airport experience to attract and retain passengers Further, in Q3 2020, both terminals at KUL passed all elements
of the Quality of Service (QoS) framework set by Malaysian
In 2018, Malaysia Airports launched the Happy Guests, Caring
Aviation Commission (MAVCOM). This is a testament to
Hosts service culture transformation programme. It aimed to
the improvements in service quality that has been achieved
instil a ‘customer first’ mind-set among the KUL community
collectively by Malaysia Airports and the airport community at
comprising airline partners, government agencies and some
KUL.
8,000 Malaysia Airports employees. By 2020, some 10,000
airport frontliners had received training under the programme,
We are also pleased that our efforts have been recognised
in KUL and other airports nationwide. This had been
through a Silver award for ‘Customer-centric Culture’ at the
supplemented by an online refresher course during the year
prestigious International Customer Experience Awards in 2020.
which was compulsory for all Malaysia Airports’ employees to
ensure that our people are ‘ready for action’ once demand for
travel resumes.
This was aimed at improving the passengers’ experience to

ensure a seamless airport journey. Alongside the mindset
“Our top 10 ranking among airports
change, there were initiatives to improve the physical
condition of the terminal buildings, and among the most globally for service quality is a testament
visible of these was the Washroom Improvement Programme to the collective efforts of our people and
at KUL as washrooms had become a touchstone for passenger
satisfaction throughout the world.
the airport community in improving the
service and facilities at the airport in line
In addition, a paradigm of continuous improvement
with our Brand Promise ‘Hosting Joyful
and innovation had begun with the introduction of the
#1week1improvement initiative in 2018. Approximately Connections’ despite the challenges
150 improvements have been made since 2018 for a more posed by the COVID-19 pandemic.”
seamless journey for passengers navigating the airport. 50 of
them were implemented in 2020 focusing on the safety and
security of passengers in light of the COVID-19 pandemic. This
was the focus of the Innovation Garage, which examined the
pain-points of the passenger journey in the new normal, and
4. Enhance airport infrastructure to build future capacity
improved on them swiftly so that passengers would remain
assured that their new air travel journey would be safe and The modernisation and proper functioning of these critical
hassle-free. assets are necessary to maintain safety, uninterrupted service
and passenger comfort while realising our brand promise of
We are pleased that our efforts have come to fruition in 2020 ‘Hosting Joyful Connections’. While the Group’s policy was
amidst the operating challenges of the year. KUL was named as to reduce costs to mitigate the impact of the pandemic, we
one of the world’s top 10 airports in the global Airport Service nevertheless made the decision to proceed with the planned
Quality (ASQ) survey by Airports Council International (ACI) programmes relating to critical assets.
for the category of over 40 million passengers per annum.
KUL’s annual score of 4.98 out of a possible 5.00, coupled with A key programme was the implementation of the KUL Runway
a perfect 5.00 score recorded in Q4 2020, was a significant Sustainability Plan, which was vital to sustain the safety of
improvement over the previous year in which KUL scored 4.76 flight operations at the airport. In 2019, Malaysia Airports had
and ranked #17. begun work on the rehabilitation of KUL’s Runway 3. These
works continued as originally planned and was completed on
In addition, LGK was inducted into the ACI Director General’s time by August. The next phase of the programme, namely
Roll of Excellence based on its track record for winning multiple the rehabilitation of Runway 1, also began as scheduled in
ASQ awards over a five-year period during the past 10 years. November.
For aging critical assets at KLIA1, namely the Baggage heavily promoted on mainstream media and social media and
Handling System and Aerotrain Track Transit System, we made were well received by Malaysians.
the decision to proceed with the replacement programmes as
planned in 2020. Malaysia Airports will look to leverage on the Malaysian
government’s G2G efforts towards rolling back travel
For the Baggage Handling System, in the course of 2020, restrictions. These include Reciprocal Green Lane
the groundwork for the project proceeded and focused on arrangements with Singapore, Indonesia and China, and
addressing basic design concepts, project parameters, design within the ASEAN region, as well as on-going discussions on
and phasing strategy, as well as full contingency works. The the mutual recognition of COVID-19 vaccination certificates.
physical work to replace the Baggage Handling System is
targeted to commence in Q4 2021. Malaysia Airports has also won the bid to host Routes Asia
2021 in Langkawi. The Routes Asia Forum is a unique industry
The tender exercise for the Aerotrain is scheduled to be event in which 800-1,000 airlines and airports decision makers
awarded in Q4 2021. The new Track Transit System will reflect from all around the world gather in one place. The event
the latest advances, technology and features of the automated revolves around formal, productive pre-arranged one-on-one
people mover industry. meetings between airlines, airports, and suppliers. Participants
also include those from tourism associations, economic
Planning for future growth of airports which are operating development authorities and government bodies.
beyond their planned capacity also continued uninterrupted.
Airport master plans for KUL and five other airports – Penang The hosting of the Routes Asia forum is a commitment and
International Airport (IATA Code: PEN), Kota Kinabalu testament from Malaysia Airports to encourage and open up
International Airport (IATA Code: BKI), Kuching International opportunities for airlines to fly to Malaysia. The forum which will
Airport (IATA Code: KCH), Sibu Airport (IATA Code: SBW) and be scheduled at an appropriate date in light of the pandemic,
Tawau Airport (IATA Code: TWU) - to cater for future growth will be a timely platform for Malaysia Airports to promote our
were completed in 2020. The master plans map out staggered destinations while the country regains connectivity.
development phases to meet market demand for passengers,
aircraft, cargo movement and commercial activities while In relation to our operations in Turkey, the government has
incorporating Airports 4.0 technology-driven innovations for introduced a ‘Safe Tourism Certificate’ programme to instil
an enhanced passenger experience. confidence among tourists on the health and safety in the
country. Despite a drop in numbers, the country received 12.7
In this regard, we deferred the expansion of PEN, which million tourists in 2020. This number is expected to double in
in 2019 had already exceeded its designed capacity. The 2021.
expansion work to expand PEN’s capacity to 12 million
passengers per annum (mppa) for the initial phase had 6. Boost cargo business
received all necessary approvals from the Penang state
The cargo business has become a focus for Malaysia
government and was scheduled to begin in 2020. With the
Airports, particularly with the resilience of air cargo during
finalisation of the Operating Agreements with the government
the pandemic. Although there was an initial dip in air cargo
of Malaysia which is expected in the course of 2021, there will
tonnage in March and April due to a reduction in belly cargo
be a clear mechanism for capital recovery in relation to airport
capacity, this capacity crunch was immediately taken up by
development that will facilitate the expansion of PEN.
full freighter airlines, reinforcing KUL’s position as an attractive
regional hub for aviation.
5. Leverage on stakeholders to increase passenger numbers
For operations in Malaysia, we joined forces with Tourism E-commerce which grew in prominence during the pandemic
Malaysia and other tourism stakeholders such as local airlines, has also been instrumental in driving cargo volumes. Prior to
travel agents, hotels and product owners to promote domestic 2020, Malaysia Airports had entered into a 30:70 joint venture
tourism when interstate travel was permitted in Malaysia. with e-commerce giant, Alibaba, to house a global distribution
Two editions of the ‘Cuti-Cuti Malaysia Mini Travel Fair’ were centre within the KLIA Aeropolis. It was a significant step as it
organised in conjunction with the KLIA Crazy Sale and the was the first of Alibaba’s e-fulfilment hubs located outside of
Airport Staycation which were first held in August and by China.
popular demand, again in September. The joint events were
In November, the Cainiao Aeropolis eWTP Hub became fully

operational, offering over 100,000 sqm of new logistics space Key priorities for rental and royalties business
in the 60-acre site. The facility is operated by Alibaba’s unit,
Cainiao Smart Logistics Network, and will help double cargo 1 Assist and support tenants to
volumes at KUL by 2029. It will also cement KUL’s position as • adapt to new norms and SOPs
one of the leading distribution gateways within the ASEAN • preserve and reinvent revenues
region. This venture will benefit airline partners as they will • relieve financial burden
enjoy better cargo yield and gain new synergistic partnerships
across logistic players. 2 Ongoing Commercial Reset
Malaysia Airports also aims to explore other options in

further developing the cargo business to capture growth
opportunities. 1. Assist and support tenants
Airport tenants in the travel retail industry had been greatly

Non-aeronautical Business
affected by the pandemic and consequent slowdown in
The two main components of the Non-aeronautical Business air travel. In Malaysia, many of our tenants were particularly
are first, rental and royalties derived from leasing out airport affected since the first Movement Control Order during which
space and secondly, retail of sales duty free and non-dutiable businesses which were not categorised as ‘essential’ were not
goods by our subsidiary, Malaysia Airports (Niaga) which is allowed to operate.
better known by its brand name, Eraman.
When businesses could operate, they had to adapt to new
This year, in tandem with a fall in passenger numbers, non- SOPs which include contact tracing, physical distancing, no
aeronautical revenues declined by 63.2% YoY to RM796.3 dine-ins, contactless payment and other new norms brought
million. Revenues from rental and royalties stood at RM551.9 on by the pandemic. As many of the tenants did not have
million, a YoY decline of 51.6%. Retail sales of duty free and downtown retail space, they were in a conundrum - the
non-dutiable goods by Eraman had also fallen, with revenues reduced footfall in airports had caused them to be burdened
of RM153.2 million, a YoY decline of 81.9%. simultaneously by low revenues and the inability to move
stocks. As a result, assistance to tenants was vital in relieving
Rental and Royalties their financial burden and sustaining operations until volumes
pick up again.
Innovating in the new normal
We explored new revenue streams, a contactless retail Adapt to new norms and SOPs
experience and relief packages to tenants while pursuing Malaysia Airports rolled out several business and operational
the overarching Commercial Reset. innovation initiatives. These include developing and revising
SOPs to meet with the current business and regulatory
requirements. Staff were also retrained and reskilled for
Strategies, key programmes for 2020 efficiency improvement and to help them adapt to the new
Malaysia Airports rolled out various strategies to assist business norms and SOPs.
stakeholders to support airport tenants primarily in three
key points – adapt to the new norms and SOPs, revenue We also assisted tenants to adopt a ‘Go to Consumer’ approach
preservation and diversification, and relieve their financial allowing for vending machines and push carts to be set up at
burden. In tandem with that, we continued with the strategic locations in the airport terminal. For example, at the
overarching Commercial Reset project which had begun in COVID-19 testing areas and waiting areas where passengers
2018, positioning Malaysia Airports and its stakeholders for queue for their tests and results, we set up push carts to offer
prime readiness when air traffic rebounds. snacks and drinks as well as hygiene items such as face masks
and sanitisers.
In addition, we trialled a proof of concept of a contactless

ordering system for food and beverage outlets at the airports.
Customers will place their orders and make payments using their
smartphones. When alerted that their orders are ready, they may
then proceed to the outlet to collect their food and drinks.
Our annual Concessionaire Conference also went ‘virtual’ in

2020 through video conferencing. During the virtual conference,
we shared insights with our partners on developments in the
travel retail industry and our future plans in light of the on-
going pandemic.
Preserve and reinvent revenues

We also launched several key initiatives to support airport
retailers and enhance the retail experience. We fast-tracked
the development of our e-commerce travel retail portal,
‘shopMYairports’ to help our retailers extend the reach of their
bricks and mortar set up to beyond visitors to the airports.
The portal went live within 1.5 months of obtaining relevant

internal approvals. Leveraging on the power of key partnerships
and digital marketing, the platform is geared to reach to 900
million Alipay users in China and around the world.
The portal’s accelerated launch was also to take advantage of

trending key cyber sale dates – 9.9, 10.10, 11.11, 12.12 and
Boxing Day. The Boxing Day sales recorded 58 times the
average daily sales for the portal, amounting to RM131,380
over a period of 12 hours.
Future enhancements to shopMYairports will include click-and-

collect services which will allow travellers to pick up purchases Relieve financial burden
at designated airport counters, and concierge services which Several assistance and relief programmes were introduced to
will deliver products to passengers at the boarding gates or ease the cash flow issues of tenants. These include deferring
even aircraft seat. rental payments, extending credit terms, extending the tenure
of newly signed contracts and deferring commencement of
In addition to the clicks and mortar approach, we also hyped business.
up the retail scene at KUL with the first-ever airport-wide
sales event, the KLIA Crazy Sale, in August. The aim of the In 2020, Malaysia Airports offered a six-month rental
sale was to help retail partners clear inventory by offering moratorium and a subsequent customised Rental Relief
travel-exclusive, duty-absorbed products at great discounts. In Package which offered up to 100% rental rebate for six months
addition to the sale, the first-ever Airport Staycation package in 2020.
was offered by Sama-Sama Hotel KLIA featuring an exclusive
airport tour and fire-fighting simulation exercises at the Airport A majority (81%) of the retailers namely 274 out of 337
Fire Station. The Cuti-Cuti Malaysia Mini Travel Fair organised signed up for the relief package, and the total rental rebates
in collaboration with Tourism Malaysia was also held at the cost to Malaysia Airports is approximately RM137.4 million.
same time. The combined event returned in September for a The extension of credit terms has also enabled tenants to
second edition by popular demand. reschedule their payments to Malaysia Airports.
As a result of these Reset initiatives, a total of 354 retail outlets

were awarded at our airports. Out of these, 160 were for KUL
“We feel that it is important to stretch while the remaining 194 were spread across other airports in
the Ringgit further in order to extend Malaysia. A total of 242 tender applications were received, with
209 or 86.4% being the result of direct marketing initiatives.
a helping hand to our partners so that
we can all recover together and take
advantage of the potential for future Other notable highlights of the ongoing Reset
growth.” Starbucks Coffee opened two brand new stores at Sultan
Mahmud Airport, Kuala Terengganu (IATA Code: TGG).
Sense of Malaysia concept store at Langkawi International
Airport (IATA Code: LGK) is 90% complete.
2. Ongoing Commercial Reset The world's first Sony Experiential Pop-Up Concept
featuring Noise Cancelling Technology in an airport.
The Commercial Reset programme was initiated in 2018 to
future-proof our airports combining infrastructure improvement Modernisation of carpark system at KUL.
with a new retail layout and retail mix to maximise footfall and
revenues. This includes everything from full digital adoption,
rethinking the end-to-end customer journey and offering Another aspect of the Reset which we are nurturing is
seamless online-offline experiences. Through the Commercial the participation of local Bumiputera small and medium
Reset, our airports, particularly international airports, will enterprises (SMEs) at our airports.
enjoy an enhanced profile and position themselves as lifestyle
destinations in their own right as opposed to being merely We leveraged on a partnership with Perbadanan Usahawan
where travellers go to catch their flights. Nasional Berhad to open up new avenues for the participation
of Bumiputera SMEs such as joint ventures, master concessions
As this was a critical programme to build future capacity, the franchise models. These new avenues offer less capital
Commercial Reset continued despite the pandemic. One investment and a more sustainable business cost structure.
of the initial changes introduced in 2020 was transitioning The proposal has been well received, and we look forward to a
to a paperless tender exercise, which brought substantial greater level of participation from these SMEs in future.
efficiencies and cost savings.
In addition, we enhanced our back office capabilities when the
Together with the paperless tender, we expedited the rollout new Point of Sales system went live in January. The new system
of the direct marketing leasing approach to reduce the enables the Point of Sales systems for all our international
timeframe for the normal procurement exercise. Under the airports to be standardised and centralised on a single system.
new approach, the average time taken from tender opening This streamlines data collection on sales transactions and other
to award was reduced to 3.5 months, compared to an open parameters such as passenger details, product categories and
tender or tender by invitation which would require six months sales trends, and makes it easy to extract, consolidate and
to complete. analyse.
A Bridging Strategy and New Rental Model were introduced Welcoming Dufry to SAW
to attract sought-after brands and reputable companies, For our operations in Turkey, SAW welcomed Dufry, the world’s
stimulate high CAPEX investment by tenants and encourage largest airport duty free operator, as the anchor retail operator
tenant retention. Tenants who sign up under the Reset are at the airport. Dufry occupies 3,900 sqm of retail space
given flexibility on the tenure of the tenancy, and for rental to comprising a total of eight retail lots offering an attractive
be calculated in relation to passenger movement. assortment of core travel retail products such as liquor,
tobacco, perfume and cosmetics as well as accessories and Online platforms

confectionery. In addition, a refined selection of local food and Taking advantage of available online platforms such as
souvenir brands reflecting Turkey’s cultural heritage, further shopMYairports, Ourshop and Lazada, we reached customer
completes and enhances the shopping experience at SAW. segments located outside the airport, offering them the
convenience of online shopping and delivery of products to
Retail sales of duty-free and non-dutiable goods their homes.
Clicks and mortar Delivery service

We expanded our food and beverage business with delivery
Diversifying distribution channels beyond shops at airports
services within KLIA1, klia2, other buildings managed by
to reach non-travellers was a key development for Eraman.
Malaysia Airports within the vicinity of the airport and
residential areas near KUL.
Eraman is the largest travel retail and duty-free brand in
Malaysia, operating 38 retail and 14 food and beverage outlets
2. Compliance with new business SOPs
at all five international airports and Labuan Airport (IATA Code:
LBU). As such its travel retail business is traditionally conducted Malaysia Airports introduced a contactless ordering app
at the airport and targets travellers. In 2020, with the closure of for its food and beverage outlets at KUL. Eraman led the
international borders and a sharp fall in passenger numbers, implementation by rolling it out at outlets that they own
the operating environment posed many challenges. Therefore and manage such as all Marrybrown outlets at KUL. This was
Eraman’s priorities were to diversify its distribution channels followed by other Eraman outlets including Gloria Jean’s
and markets to reach beyond the airports, and to address Coffees, Food Garden and Apron Bites as well as other food
compliance with new business SOPs. and beverage outlets at various airports nationwide.
Key priorities for Eraman Other notable highlights for Eraman
1 Diversify distribution channels and markets A new outlet, Ken’s Apothecary, a niche luxury brand
opened at KUL in March.
• external sales
• online platforms The renovation of the Food Garden at KUL commenced
• delivery service in November, and is expected to complete and reopen in
the first half of 2021.
2 Compliance with new business SOPs
1. Diversify distribution channels and markets
With the fall in passenger traffic, there was an outreach to

customer segments who were non-travellers and were outside
the airport. This was done by deploying new delivery channels.
External sales
External sales dubbed ‘Eraman Friends and Family Sales’ were
organised with various government agencies and corporate
offices to enable them to purchase travel retail products easily.
We also engaged with personal shopper networks to promote
and drive sales.
Non-Airport Operations In addition, on-going renovations of the ballroom, meeting

rooms and food and beverage outlets at the flagship Sama-
Malaysia Airports’ non-airport operations comprises three Sama Hotel KLIA have also affected the hotel’s ability to
business divisions – Hotel, Project and Repair Maintenance maximise revenue. The renovations which began in December
Operations, and Agriculture and Horticulture. In 2020, 2019 were delayed by work restrictions during the Movement
revenues for non-airport operations as a whole fell 35.9% YoY Control Order period. While the ballroom and meeting rooms
to RM183.8 million. on Level 1 were operational and generating revenue from Q3
2020 onwards, the rest of the renovations are scheduled for
Hotel completion in Q2 2021, a delay from Q4 2020.
Deepening domestic business

In 2020, revenues from the hotel segment fell 51.3% YoY to
To attract guests in the domestic market, we introduced RM47.8 million. The average occupancy rate dropped from
the Airport Staycation, ‘work from hotel’ packages and the 80% in 2019 to 53% in 2020. The average daily rate for 2020
‘Passport’ loyalty programme. was also 23.8% lower at RM282 compared to RM370 in 2019.
Among the reasons for the lower average daily rate was the
Malaysia Airports operates hotels in both Malaysia and Turkey.
government-gazetted rate of RM150 per night for quarantined
In Malaysia, the hotels are operated by Malaysia Airports’
travellers which accounted for a substantial portion of the hotel
wholly owned subsidiary, KL Airport Hotel Sdn Bhd, under the
revenues. The revenues were derived from the compulsory
brand ‘Sama-Sama Hotel’. There are three Sama-Sama Hotels
quarantine measures imposed on travellers entering Malaysia
– the five-star Sama-Sama Hotel KL International Airport
from overseas. Through the allocation of persons-under-
(Sama-Sama Hotel KLIA) and two airside transit hotels – Sama-
Sama Express KLIA and Sama-Sama Express klia2. In Turkey, surveillance by the Ministry of Health, and self-paid premium
the hotel is known as ‘Airport Hotel’ and is located landside at packages for those seeking higher quality accommodation
SAW. KL Airport Hotel Sdn Bhd also operates the Airport Fast for their quarantine, Sama-Sama Hotel KLIA sold 39,045 room
Track service at KLIA1, a premium kerbside-to-gate service nights with revenues of RM6.0 million.
that offers guests fast track lanes for check-in, customs and
immigration, transportation services and buggy and concierge In addition, domestic leisure packages accounted for 1,501
services. room nights, meeting and residential packages generated 918
room nights. We also offered special packages for the airport
The performance of the hotel segment is dependent on several community and for ‘work from hotel’ guests. We also launched
factors. Traditionally, passenger traffic at KUL and airline routes a loyalty programme ‘Passport’ for guest retention.
are key drivers of occupancy rates as transit passengers and
airline crew layovers are key customer segments. In addition, Malaysia Airports’ first Airport Staycation, a unique experience
the demand for meeting and event facilities is another key at Sama-Sama Hotel KLIA, was introduced to coincide with the
factor. As such, the fall in passenger numbers as well as public KLIA Crazy Sale. The highlight of the Airport Staycation is a tour
health restrictions on large meetings, conferences, events and for guests of the airport fire station where they can experience
gatherings have impacted the hotel business. riding a fire engine, learn to use firefighting equipment and
escape a simulated burning building. The Airport Staycation
package generated 60 room nights.
While it was a challenging year, we implemented strict

management of cash flow and cost optimisation measures
to reduce costs by RM9.9 million (25.0% YoY), enabling us to
retain all Malaysian staff and maintain an occupancy rate which
was higher than industry average. Sama-Sama Hotel KLIA also
achieved a high guest satisfaction rate of 93.2%. In addition,
our hotels also won several travel industry awards, as well as
an award for occupational safety and health.
comprehensive facilities management services, interim

Awards won by our hotels in 2020
security services, custodial and janitorial services, RFID system
Sama-Sama Hotel KL International Airport to track suspicious baggage as well as equipment supply and
• 2020 Haute Grandeur Global Hotel Awards for Best maintenance support for the RFID system.
Airport Hotel on Global Level
• 2020 Haute Grandeur Global Awards for Best Luxury MACS provides airport operations and management
Hotel in Asia consultancy services, including consultancy for benchmarking
• 2020 Haute Grandeur Global Awards for Best Prime service quality under the Airport Service Quality (ASQ) and
Location in Malaysia Airport Customer Satisfaction Performance Program (ACSPP).
• 2020 World Luxury Hotel Awards for Luxury Airport
Hotel Global Winner UTW is a leading Total Facilities Management services provider
• 2020 Tripadvisor Traveller’s Choice Hotel in Malaysia with over 20 years of experience. Certified with
• 2020 Tripadvisor Traveller’s Choice Best of The Best ISO 9001:2015 Quality Management System, ISO 14001:2015
Hotel Environmental Management System and ISO 45001:2018
• 2020 Hotels.com Love by Guests Awards Winner Occupational Health and Safety Management Systems, UTW
• 2020 Malaysia Society for Occupational Safety and delivers the highest standards of performance in Facilities
Health OSH Silver Award Management Services for prestigious facilities and clients
including internal customers - KUL, LGK, PEN, Sultan Abdul
Sama-Sama Express KL International Airport: Aziz Shah Airport, Subang (IATA Code: SZB) and the Malaysia
• 2020 World Luxury Hotel Awards for Air Transit Hotel Airports Corporate Office - as well as Petronas Tower 3, KLCC
Asia Continent Winner Common Facilities and Masjid As-Syakirin, Exxon Mobil Tower,
Mitsui Outlet Park KLIA, Airbus Helicopters Malaysia, Persada
Sama-Sama Express klia2: PLUS, Sepang International Circuit, SPIRIT AeroSystems
• 2020 World Luxury Hotel Awards for Luxury Malaysia, Cainiao Aeropolis eWTP Hub and Novugen Pharma
Contemporary Hotel - South East Asia Regional Winner (Malaysia).
MACS ME
In Qatar, MACS ME’s revenue for the year decreased by 43.7%
Project and Repair Maintenance Operations YoY to RM82.7 million due to the completion of the facility
management services for airport operational facilities and
Delivering operational excellence ancillary buildings contract in October 2019. Revenue for the
Renewing the facilities management contracts at DOH and current IT maintenance support contract had also decreased
gaining new facilities management clients in Malaysia are by 16.9% YoY with lower overall project claim rate under the
the highlights of this segment. new extension term. The lower project claim was a direct result
of the COVID-19 pandemic which had resulted in reduced
This business segment comprises operations in Malaysia and operating capacity at DOH. This, in turn, had resulted in
Qatar. In Malaysia, we operate through Malaysia Airports’ two corresponding lower utilisation of spares under the contract.
wholly-owned subsidiaries, Malaysia Airports Consultancy
Services Sdn Bhd (MACS) and Urusan Teknologi Wawasan Sdn Due to the completion of the facility management contract
Bhd (UTW). In Qatar, we operate through Malaysia Airports and the impact of COVID-19, MACS ME’s EBITDA and PBT
Consultancy Services Middle East LLC (MACS ME), in which dropped in line with the drop in revenue. Additional works
we own a 49% stake. under the IT maintenance support contract valued at QAR53
million had also been deferred due to the client's prioritisation
MACS ME has provided facilities management at Hamad of other budget spending. As a result, this segment recorded
International Airport (IATA Code: DOH) in Doha, Qatar a PBT of RM0.8 million in FY2020 compared to RM5.9 million
since 2013. Among the services provided by MACS ME are in FY2019.

The major achievement of MACS ME was in securing the quality required for the airport to achieve top 10 ranking in
extension of the IT maintenance support contract for another the ASQ survey. Those efforts formed part of the team effort
five years from December 2019 to December 2024, with to propel KUL into the top 10 in 2020, with a vastly improved
a total contract value of QAR388.7 million. This is notable score of 4.98/5.
because we first secured the contract for an initial three years
beginning December 2014. It was extended for a second term UTW
from December 2017 till December 2019. The third term for a Despite the challenges of 2020, revenues for UTW stood at
further five years is testament to our performance in delivering RM117.3 million, a decrease of 4.7% YoY. These gains were
the contractual obligations and support services effectively at achieved on the back of LEAN management initiatives, cost
DOH, a five-star airport. optimisation and improved productivity.

We had also secured change/variation orders under the Among the highlights for 2020 are the renewal of facilities
facilities management services for the site office, warehouse management agreements in relation to KUL (encompassing
and associated facilities. The contract was extended for KLIA1, klia2 and KUL ancillary buildings) for a duration of three
another 14 months from December 2019 till April 2021, after years. In addition, UTW gained new facilities management
which we will participate in the retender exercise. clients, namely SPIRIT Aerosystems Malaysia, Cainiao
Aeropolis eWTP Hub and Novugen Pharma (Malaysia).
It was an equally challenging year for us in Qatar due to
the pandemic. The Ministry of Public Health had put in There were challenges faced this year in relation to the
place new health and safety regulations for workplaces and pandemic, particularly in streamlining the terms and
project implementation, causing some delays and additional deliverables of existing contracts in light of the new norms
compliance costs, particularly as the regulations change in and health and safety requirements. However, our initiatives
tandem with public health considerations. We had adjusted had helped clients save and avoid costs. For example, under
staff accommodation, transportation and working hours, and our Lean Six Sigma Management programme, we completed
also made available personal protective equipment (PPE) eight key initiatives delivering cost savings and contract cost
and IT equipment to adapt to the new business norms and optimisation of over RM18.0 million to Malaysia Airports. In
regulations. addition, UTW has delivered a digital platform for maintenance
of washrooms at KUL which has improved service quality,
MACS (Malaysia operations) increased efficiency and optimised operational costs. The
improvements have also contributed to KUL’s performance in
MACS’s revenue decreased 32.6% YoY to RM11.8 million in
the ASQ and Quality of Service (QoS) surveys.
2020, due to the deferment of ACSPP projects from MASB
Airports and several projects for the installation of Aeronautical
An example of the technology advancement is the UTW Smart
Ground Lighting (AGL).
Asset Solution Management that provides a digital platform
for UTW and its clients relating to maintenance works. The
However, during the year, we completed the two aircraft
digital platform covers maintenance workflows such as
ground lighting (AGL) projects at LGK and PEN. This was
activities, verifications, user complaints, approvals as well as
achieved despite disruptions caused by the pandemic to the
real time dashboards and reports, simplifying and streamlining
production of the AGL equipment in Europe, and the reduction
maintenance workflows for both UTW and its clients.
in cargo shipment schedules between Europe and Asia. We
also had to contend with managing interstate movement of
UTW has also invested in the formation of a sanitisation
staff, contractors and field experts to complete the projects
squad to undertake disinfection activities at the airports. This
during a period when such travel was severely limited by the
includes installation of UV sanitisation equipment at escalators,
Movement Control Orders in force.
washrooms and baggage areas. These methods were trialled
at the airports and upon receiving approval from the Ministry
Another significant project was the ASQ Workshop and
of Health, they were extended to all external clients’ facilities.
engagement with all relevant stakeholders in KUL to refine
and focus their efforts on delivering the service standards and
Agriculture and Horticulture ginger cultivation in a pilot project of four acres near KUL. We
will also be doubling the size of our coconut plantation near
Business as usual in unusual times
Sultan Ismail Petra Airport, Kota Bharu (IATA Code: KBR) from
The business benefited from the upward price movement 100 to 200 acres.
in commodities in 2020.
Unlocking value via Aeropolis
Malaysia Airports’ agriculture and horticulture business
segment is conducted by its wholly owned subsidiary, MAB Expanding our footprint via partnerships
Agriculture-Horticulture Sdn Bhd (MAAH). MAAH is focused Our joint venture (JV) with Alibaba saw the e-commerce
primarily on the cultivation and management of mature oil titan’s first global distribution centre outside China
palm and coconut plantations as well as landscaping at KUL. commence operations while our JV with Mitsui Fudosan
In 2019, MAAH ventured into a new crop, pineapple. saw the expansion of the Mitsui Outlet Park KLIA Sepang,
and local authority approval for the new Mitsui Outlet Park
In 2020, MAAH’s revenues increased 25.1% YoY to RM42.4 in Penang.
million. This was due to the upward trajectory of the price of
crude palm oil from May onwards. The average price of crude The off-terminal real estate development by Malaysia Airports
palm oil rose from just RM2,070 per tonne in May to close the focuses on three core clusters aligned to national blueprints,
year just above RM3,620 per tonne. namely Air Cargo and Logistics, Aerospace and Aviation,
and MICE and Leisure. These are synergistic to the Malaysia
In 2020, mature oil palm plantations covered 6,646.3 hectares, Airports’ core business in driving passenger growth and cargo
coconut plantations covered 126.8 hectares while landscaping volumes. The Aeropolis provides a strong source of income
activities covered 906.7 hectares. In terms of revenue for Malaysia Airports via lease rentals, concession fees, cargo
generation, sale of oil palm fresh fruit bunches account for throughput charges and land-related profits.
78.3% of MAAH’s revenues, while coconut and landscape
activities account for 19.6%. MAAH’s new venture into The development of integrated industrial precincts by Malaysia
pineapple covers 16 hectares, but yet to generate revenue in Airports is set to attract global anchor tenants and supply
the current financial year. chain to KUL and SZB. These have the potential to become
engines of growth beyond the airport boundaries and a key
Despite the new SOPs applicable to the agricultural industry, we foreign and domestic direct investment destination within the
kept our business going throughout the year. We look forward region in the e-commerce Logistics and MRO sectors.
in 2021 to collaborating with the Agricultural Department on
Air Cargo and Logistics Aerospace and Aviation

In 2020, we launched the Cainiao Aeropolis eWTP Hub, a The Subang Airport Regeneration initiative will revitalise
joint venture between Malaysia Airports and Alibaba Group the existing Subang Airport ecosystem, and position it as a
This is Alibaba’s first hub outside of China and forms part of vibrant city airport, a hub for business aviation and a complete
e-commerce titan’s global network of distribution centres. aerospace ecosystem. Malaysia Airports has embarked on a
Operated by Alibaba’s logistics unit, Cainiao Smart Logistics master planning exercise to provide optimal planning with
Network, the facility is the anchor of the 215-acre Free clear spatial and operational demarcation of Subang Airport
Commercial Zone within the KLIA Aeropolis. Covering over for the next 15 years.
100,000 sqm, the facility houses a cargo terminal, fulfilment
centre, warehouse and sorting centre for e-commerce. Upon completion of the first phase of the master planning
exercise by end of Q1 2021, the regeneration initiative will be
This project underscores KUL’s capabilities as a regional hub undertaken over three phases with expected completion by
for e-commerce distribution. With this catalyst, Malaysia 2035. The main initiatives in Phase 1 are as follows:
Airports expects to double KUL’s current cargo volume to 1.4
million metric tonnes per year by 2029. That will also result in
Subang Airport Regeneration Phase 1
improved airline connectivity via KUL, with new routes and
– main initiatives
increased frequencies, belly space utilisation and freighter
capacity. 1. Preparation of runway fronting airside real estate
catering for the aviation demand with over 3 million
Local cargo and logistics players will have the opportunity to sq. ft. of net lettable area
integrate their facilities with the hub, and Lazada, Southeast
2. Establish airside common facilities such as short-term
Asia’s largest e-commerce firm, was the first to do so. The hub
and long-term aircraft parking stands
is also expected to increase volumes for courier companies
responsible for final mile delivery of goods. Local e-commerce 3. Upgrade airside and landside infrastructure e.g.
operators particularly SMEs will receive a boost as the hub additional taxiways for efficient aircraft movement
enables them to access the global market and supports 4. Develop localised community activation points to
competitive delivery time frames at a low logistics cost - 24 promote enhanced work-live-play scene for the
hours within Malaysia and 72 hours globally. working community
Despite the pandemic disrupting two months of construction

work, the hub was delivered on schedule and commenced The Subang Airport Regeneration is expected to transform
operations in November. Subang Airport and Malaysia into a global aviation champion
within Asia Pacific that caters to leading business aviation
players, MROs and emerging aviation technologies. It is
expected to generate 5,000 high-skill technical jobs, and
contribute a total of RM5.4 billion in terms of direct and
indirect economic benefits to Malaysia at maturity by 2035.
MICE and Leisure

The MICE and Leisure initiatives focus on the expansion of
Mitsui Outlet Park KLIA Sepang and also the plan for a new
Mitsui Outlet Park Penang International Airport.
Phase 3 expansion of Mitsui Outlet Park KLIA Sepang

The Phase 3 development plan which recently commenced in
December 2020, has been revised to reflect a more prudent
scale from 60 small sized tenantable stores to five large front
stores, representing about 40% reduction of gross floor area
from the original plan. Upon completion of the Phase 3 critical for the long-term sustainability of Malaysia Airports’
expansion which is expected by end of 2021, Mitsui Outlet business. They also form part of the environmental, social and
Park KLIA Sepang will potentially be the largest factory outlet governance (ESG) considerations that are embedded into our
shopping mall in Southeast Asia. business and value-creation process.

Development of Mitsui Outlet Park Penang International For stakeholders seeking in-depth information about ESG
Airport matters, I would like to highlight that Malaysia Airports
Malaysia Airports and Mitsui Fudosan Co. Ltd have also produces an annual Sustainability Report that is prepared in
embarked on the development of the Mitsui Outlet Park accordance with the requirements of the GRI Sustainability
Penang International Airport. MFMA Development Sdn Bhd, Reporting Standards (Core Option). This year’s Sustainability
a joint venture between Mitsui Fudosan (70%) and Malaysia Report is available online at our corporate website:
Airports (30%), received a Development Order Approval www.malaysiaairports.com.my.
from the city council, Majlis Bandaraya Pulau Pinang, in
September for the project, and has since commenced detailed Sustainability
development planning works.
Embedding sustainability in our vision
Tenant support Our new vision articulates our ambition to build a

In May, Malaysia Airports had introduced its first tenancy sustainable business, while the Gold sustainability rating is
support package via extension of credit terms to 34 eligible a strong indication that we are on the right track.
off-terminal aerospace and aviation tenants. The credit
terms were extended up to 90 days for a period from April A vision for sustainable growth
to September to ease the tenants’ cash flow concerns during In 2019, Malaysia Airports articulated an ambition to rank
these difficult times. among the ‘Top 5 Airports in the World’ within the next five
years. Following a brand audit on our vision and mission
In December, Malaysia Airports provided a further tenancy statement, and to ensure better alignment with our focus
support package for eligible off-terminal tenants covering areas for the future, we reformulated our brand identity.
sectors such as MRO, general aviation, and aviation training.
Under this second tenancy support package, 32 eligible Malaysia Airports’ new vision – ‘A Global Airport Group that
tenants were offered and had benefited from monthly rental Champions Connectivity and Sustainability’ – now reflects our
rebates ranging up to 40% for a period of up to six months ambition more accurately. The vision is reinforced by our Brand
including waiver of late payment charges subject to the Promise – ‘Hosting Joyful Connections’.
tenants’ eligibility. The support is customised and offered
based on the tenants’ profile, size of operations and the level We believe this will enable stakeholders to understand more
of impact that the pandemic has had on their operations. clearly our ambition and commitment, as well as to recognise
how we are able to create long-term sustainable value for the
These tenancy support packages are meant to provide future for all our stakeholders.
necessary assistance in sustaining the tenants’ businesses
during the challenging operating environment. Gold Sustainability Rating
Following a review of Malaysia Airports’ sustainability practices
Non-Financial Performance and initiatives in the environment, social and governance
spheres as well as the impact of the Group, RAM Sustainability
As this is Malaysia Airport’s third year in its integrated reporting assigned the Group an overall gold rating, the highest of three
journey, I am also pleased to share with stakeholders the salient available ratings. Malaysia Airports also received a gold rating
information about Malaysia Airports’ progress in several key for the social and governance spheres as well as for positive
areas that had an impact on our ability to create value for impact. For the environment sphere, we received a silver
stakeholders in 2020. Among these key areas are the material rating. (RAM Sustainability is wholly owned subsidiary of the
matters that have been identified by stakeholders as being rating agency, RAM Holdings Berhad.)
The rating reflects Malaysia Airports’ strong overall (Jabatan Bomba), The People’s Volunteer Corps (RELA), The
sustainability performance after taking into consideration Royal Malaysian Customs and Immigration Department. To
its environment, social and governance and positive impact this effect, we formed the KUL COVID-19 Committee that met
attributes. The rating also recognises that our sustainability weekly to review, implement or improve operational processes.
performance is driven by robust governance and its positive
impact on the economy and society. Among other matters, the Our early engagement and long-standing rapport with these
rating report also highlights our dedication towards integrity agencies helped ensure a good line of communication and
and anti-corruption as shown by the adoption of the ISO excellent cooperation from all parties. With the commitment
37001: Anti-Bribery Management Systems. and close collaboration from these agencies, we were able to
ensure a seamless process for all.
Sustainability Committee
In view of our vision and our focus on Sustainability, the Board By providing support for inter-agency communication as well
of Directors and Executive Committee (ExCo) of Malaysia as communications with the media and public, we enhanced
Airports have approved the formation of a Sustainability engagement among stakeholders as we faced the challenges
Committee chaired by the Chief Human Capital Officer. The of the pandemic head-on. This resulted in the successful
Committee reports to the ExCo and the Board and will feature execution of repatriation and evacuation flights which came
representation across all divisions and subsidiaries of Malaysia
Airports. In addition to providing advice and support to the
ExCo and Board on Sustainability, the Committee will also set
up sustainability strategies, plans, initiatives, and analyse risks
and opportunities linked to the United Nations Sustainable
Development Goals, Malaysia Airports’ Sustainability
Framework and Sustainability Policy.
A cohesive pandemic response

With airport stakeholders working together to coordinate
our pandemic efforts, we were able to implement new
SOPs, communicate them to the public and work through
operational crises effectively.
The nature of our business, particularly the aviation business,

requires Malaysia Airports to engage closely with all
stakeholders to ensure that our operations run in a manner
which is safe, smooth and seamless. Each stakeholder offers
a unique proposition and brings value to the company in
different ways.
With the pandemic, engagement with the Malaysian

authorities became even more significant as we had to
work together to review our processes and implement new
measures but without compromising on service quality.
We were fully committed to collaborating with the National
Disaster Management Agency (NADMA), the Ministry of
Health, the Royal Malaysian Police (PDRM), the Malaysia Civil
Defence Force (APM), Special Malaysia Assistance and Rescue
Team (SMART), Fire and Rescue Department of Malaysia
through KUL which required coordination among airlines, Communications and Branding
Immigration, Ministry of Health, NADMA, foreign diplomatic
Disseminating information to stakeholders
missions and other agencies.
We communicated extensively with our employees and
We ramped up engagement with the media and travelling with external stakeholders to keep them updated on new
public to address their uncertainties and disseminate the new SOPs and other developments through all our available
SOPs, leveraging on mainstream media, social media channels channels.
and all available media assets (eg. flight information display
screens, commercial screens, digital directories and printed It was an eventful year from a communications and branding
materials) at the airports and workplace to reach the widest standpoint as we simultaneously managed external and
audience possible. Among the materials we produced for this internal communications on the pandemic, innovated to
purpose were digital and physical safety collaterals on airport transform our regular business activities into virtual events,
safety measures and new SOPs, COVID-19 communications and continued to strengthen our brand.
videos and internal messages on safety.
The five guiding principles in all
communications activities for 2020
Promoting Positive Perception

Strengthening our Brand
Intensifying Safety Communications
Enhancing Engagement among Stakeholders
Embracing Innovation and Digitalisation
Internal Communications
One of our primary focus areas was to keep our people
informed on our COVID-19 response. Four virtual townhalls
with the Group Chief Executive Officer were held with our
employees. In addition, we ensured that regular internal
communications were disseminated to all employees including
messages from the Group Chief Executive Officer and the
senior management team, formal and casual announcements,
host culture communications, occupational health and safety
updates.
Media and social media coverage and public response

We communicated extensively with the public through the
media in 2020. We issued weekly news releases and were
active on all our social media channels. Due to our proactive
and extensive engagement efforts in a transparent and timely
manner, the sentiment analysis of all media coverage and
social media posts regarding Malaysia Airports achieved 52%
positive sentiment, compared to 23% in 2019.
In terms of customer satisfaction, throughout our entire 500 kits to passengers who were stranded at the KLIA1. The
network of airports in Malaysia, the Malaysian Aviation comfort kits contained a sleeping bag, a face towel and a set
Commission (MAVCOM) had received only a total of six of toiletries each. We also donated 500 cheer packages of
complaints from consumers. KLIA1 and klia2 terminals had chocolates sponsored by Eraman to the frontliners at Hospital
also passed all elements of MAVCOM’s Airports Quality of Queen Elizabeth, Kota Kinabalu.
Service (QoS) framework in 2020.
Complimentary Iftar meals and dinners were provided to over
Strengthening our Brand 1,000 KUL frontliners during the fasting month of Ramadan.
In 2020, we had developed a Brand Strategy to realign our All meals were provided through donations from Malaysia
vision and brand promise to our business direction. We Airports’ employees. It was a gesture of appreciation towards
also incorporated new core values so that employees have airport frontliners who were diligent in their commitment
a clearer direction to support the company’s ambition. towards ensuring the ongoing running of the airports during
Following the introduction of the new vision and brand this crisis.
promise, we launched several brand communication
initiatives among employees. School and community donations
Under our Ceria Ramadan programme, we brought festive
cheer to 88 students from three schools in the vicinity of
Brand communication initiatives KUL – SK Sungai Melut, SK Bukit Tampoi and SK Cyberjaya.
We presented them with essential items such as foodstuff,
Brand Focus sessions to get buy-in from all management
personal care and hygiene kits and chocolate hampers as
level employees, produced brand content via videos,
well as ‘duit raya’. This programme is in its fifth year, and has
written communications, and Brand e-book.
brought cheer within the communities surrounding the vicinity
Let’s Connect sessions with selected employees, led of our airports.
by senior management for better understanding of our
brand.
Brand Rally Cry to inculcate a sense of solidarity among

employees - Together, WE can!
Contribution to Local Community and

Corporate Responsibility
Giving back to those in need

#MYAirportCARES - giving back to the community is part
of Malaysia Airports’ DNA.
In challenging times such as these, we continue to contribute

to the wider good of the community, with a total of RM417,839
disbursed for these causes.
Supporting frontliners
To show our support for their efforts, Malaysia Airports
contributed 2,000 comfort kits to frontliners at Hospital Sungai
Buloh, 350 kits to frontliners in Tawau and Kota Kinabalu and
In conjunction with Hari Raya Aidiladha, Malaysia Airports putting our employees on furloughs as we also had to balance
donated essential items and meat to 55 families from Kampung ensuring airport readiness when travel resumes in earnest. As a
Labu Lanjut, Sepang, a village located near Malaysia Airports’ result, we kept all our staff employed with the only departures
Corporate Office. The donation is also meant to help alleviate being due to natural attrition and non-performance.
the burden of community members who have been affected
by the COVID-19 pandemic. As ‘work from home’ became the new norm at Malaysia
Airports for employees who were not required to be present
Recognition at the workplace, we worked hard to overcome communication
Our education for children and community initiatives were challenges. We communicated to all employees regularly on
recognised and awarded at the 2020 Sustainability & CSR efforts to manage the business challenges, and spoke to them
Malaysia Awards hosted by the CSR Malaysia Publication and in a frank, clear and transparent manner. We increased the
Corporate Sustainability & Responsibility Malaysia Welfare frequency of our townhalls and communication through online
Society. This honour was conferred on Malaysia Airports based platforms, which made the townhalls accessible to all employees
on the 91 projects conducted in 2019 under our CSR pillars nationwide. These townhalls helped our people to stay focused
- Educational and Youth Leadership, Community Enrichment and motivated to navigate the state of flux in the year.
and Malaysia Branding.
Health and safety
We routinely decontaminate and sanitise work and common
areas to ensure they were safe for use and place hand sanitisers
“We care. And we would like to show throughout the airports and in offices. All frontline personnel
are provided with appropriate Personal Protective Equipment.
support to frontliners by contributing to We communicated regularly with all employees to keep them
their wellbeing. It is also our gesture of informed on COVID-19 Prevention and Handling Guidelines
and Return-to-work Protocol Guidelines and to generally keep
thanks for their tireless sacrifice.”
them updated about COVID-19 to help them and their families
stay safe and healthy.
Employee Engagement and Development Learning and Development

We accelerated our digital learning platform e-MAGE, and
Keeping our people safe and healthy
introduced 35 bite-size modules which garnered a 85%
We dealt with new challenges – keeping our frontline participation rate. In addition, 30% of classroom training was
workers safe and enabling ‘working from home’ – by shifted online.
investing in work place safety and technology.
In preparing our people for the future through our Talent
Employee Engagement Mobility and Talent Exchange Programmes, we encouraged
As the pandemic continued to disrupt our business, our various learning, coaching and knowledge sharing sessions
workforce was concerned about matters such as health and through online and e-learning platforms as well as peer
safety and job security. We fast tracked the procurement of coaching sessions. Four employees from our Malaysia
personal safety equipment for our employees and worked operations were assigned to SAW while three from our Turkey
tirelessly to keep people safe by leveraging on technology at operations were assigned to work in Malaysia for two years.
the airports.
We also introduced a new transition reskilling programme
As part of resource optimisation exercise, we instituted other involving 88 of our Aviation Security employees whom
measures to manage costs such as hiring and promotion we retrained and reskilled as Airport Fire Rescue Service
freeze, strict management on performance and output, (AFRS) personnel by undergoing the Basic Training for
rearranging shift patterns, and consolidation of roles and AFRS Integration Programme. In addition, we also launched
responsibilities through organisational restructuring. Despite targeted upskilling programmes to enable employees to
the challenges we faced, we avoided as far as possible from remain relevant for current and future needs.
Internal Reorganisation In terms of Learning and Development, we developed online

We also reorganised internally to improve operational learning modules to create awareness among employees on
excellence and sharpen our business focus. corruption. 100% of employees have completed the e-learning
course.
Internal reorganisation Outlook

at Malaysia Airports
Economic outlook
The formation of Technical Service Division to provide
operational expertise to manage major projects namely The global economy in 2020 was adversely affected by
the replacement of the Baggage Handling System and COVID-19. The uncertainties and degree of impact to the
Track Transit System economy has caused the International Monetary Fund (IMF)
to revise its 2020 global GDP downwards on several occasions.
The formation of the Aviation Marketing & Development Nevertheless, IMF forecasted that global economy would
Division to pave the way for Malaysia Airports’ exploration rebound in 2021.
into air cargo
IMF has forecasted Malaysia’s GDP to grow by 6.5% in 2021
from a negative 5.6% recorded for 2020. Meanwhile, Bank
Integrity and Anti-Corruption Negara Malaysia forecasted Malaysia’s GDP to be between
Firmly within our radar 6.0% to 7.5%.
We reinforced integrity and anti-corruption measures
Passenger forecasts
Group-wide by following through on new legislation, prior
ISO certification and leveraging on online learning to According to the International Air Transport Association (IATA),
create greater awareness among our people. the availability of COVID-19 vaccines in 2021 is anticipated to
be a turning point for the aviation industry, but the recovery
Integrity and Anti-Corruption continue to rank among the top will be gradual due to phased distribution of the vaccines.
material matters for Malaysia Airports. In May, we organised
a Corruption Risk Management workshop and identified IATA has projected 2021 global passenger volumes to
corruption risks in Malaysia Airports’ risk scorecard, particular improve by 26% over 2020. The Airports Council International
the acts of individuals which may trigger Malaysia Airports’ meanwhile projected a baseline scenario of 72% growth for
corporate liability under the newly enacted Section 17A of 2021 over 2020.
the Malaysian Anti-Corruption Commission Act. We have
also developed online learning modules to create greater Global trends
awareness among employees on corruption in line with the Continuous efforts and measures initiated by airports and
new legislation. airlines with the recommended guidelines by IATA and ACI
as well as tightening of SOPs to ensure safety and health of
As a follow through on our ISO certification obtained in passengers had helped to provide assurance for passengers
2019, Malaysia Airports has developed Guidelines on Anti- to travel by air. The breakthrough in vaccines offers optimism
Corruption Due Diligence to guide the relevant companies for a turning point in air travel recovery while the economy
and divisions in the Group on fulfilling the requirements of picks up.
the Guidelines on Adequate Procedures introduced by the
Malaysia Anti-Corruption Commission and MS ISO 37001:2016 Traffic recovery is expected to be gradual in line with the
Anti-Bribery Management Systems. distribution of vaccines coupled with the ongoing recovery of
the global economy. Travel bubbles arrangements and short
We also started the development of Organisational Anti- haul travel are expected to pave the way and give air travel
Corruption Plan (OACP) with the completion of three further momentum in 2021.
workshops attended by OACP development committee
members.
In addition, the local airlines have made the strategic decision to welcome double the number of tourists this year compared
to focus on domestic routes to respond to the COVID-19 to the 12.7 million in 2020.
market demands. With international borders still closed, they
are now focusing on enhancing local connectivity between Operating Agreements
the states, especially those with heavily frequented tourist Malaysia Airports had reached a major milestone in 2019 when
destinations and business hubs. we secured the approval of the Government of Malaysia for
the extension of our operating agreements (OAs), thereby
Catalysts for our markets extending our licence to operate, manage and maintain the
While there continues to be uncertainty on the trajectory for network of airports in Malaysia for a further 35 years till 2069.
recovery of the aviation industry in Malaysia and globally, The current term of the OAs is due to expire in 2034.
we are keeping a close watch on certain catalysts which will
spur growth. Among these is the rollout of the vaccination In the discussion with the government on finalising the OAs,
programme in Malaysia, Turkey and as well in our target Malaysia Airports has prioritised the inclusion of a sustainable
markets. Malaysia has indicated that the country is targeting funding model for future growth and development of the
to complete the vaccination of 80% of the adult population network of airports. This will enable Malaysia Airports to
by February 2022, to achieve a level of herd immunity within plan with greater certainty for long-term investment into the
the population that will enable a return to some semblance continued competitiveness of the airports and the sustainability
of normalcy. of the network as well as to have the capabilities to respond
swiftly to changes in critical needs. We expect to reach a final
Reciprocal Green Lane arrangements between Malaysia and agreement with the government in the course of 2021.
Singapore, and those under discussion with Indonesia and
China will also boost air traffic. Discussions are also on-going Future F.I.T. - Malaysia Airports’ 5-Year Strategy
within ASEAN and other countries in the Asia Pacific such as and Transformation Plan
Japan, South Korea, Australia and New Zealand for similar
Looking beyond the pandemic
arrangements.
Future F.I.T. addresses the immediate challenges of the
The introduction of vaccine passports, which are essentially current operating environment while laying the foundations
digital vaccination certificates, are also in development, and for dynamic post-pandemic growth.
there are efforts to secure reciprocal recognition among
nations for vaccines administered to individuals and which are In view of the above, we are working to ensure that Malaysia
certified by the government. Airports continues to be able to weather any turbulence
ahead. While there appears to be light at the end of the
We are also following closely the developments around tunnel, the situation remains fragile. Until there is a level of
the announcement by the Kingdom of Saudi Arabia that herd immunity, the virus together with the new variants may
has indicated that the Hajj will be permitted this year for lead to more cautious sentiment as these variants may be
vaccinated pilgrims. The return of Hajj and Umrah traffic will able to disrupt public health. A resurgence of the virus could
be a welcomed boost for passenger numbers. dampen confidence among travellers and impact our recovery.
In Turkey, mass vaccination of the population began in January While Malaysia Airports has maintained business and financial
2021, with the aim to complete shots for its population over stability in the face of the pandemic, in order to stay the course
the age of 40 by the end of June 2021 and for those over the of the new normal, we need to be vigilant and take swift and
age of 20 by July 2021. There is also an initiative to develop decisive action to remain ahead of the curve. In this regard,
indigenous COVID-19 vaccines including the world’s first intra- while the operating environment remains uncertain, it also
nasal COVID-19 vaccine. presents opportunities for future growth. We have therefore
reformulated our strategies and plans to reflect the impact of
The Turkish government has introduced a ‘Safe Tourism the COVID-19 pandemic and challenges faced in the aviation
Certificate’ programme to instil confidence among tourists on industry on the future direction of the Group.
the health and safety in the country. The country is projecting
The way forward is laid out in ‘Future F.I.T.’, our five-year Heartfelt thanks and gratitude
strategy and transformation plan which outlines the ‘ground
zero reset’ to address the survival and recovery phase that we In an unprecedented year that tested our resolve, it was
are in, and also positions Malaysia Airports to capture future also one in which the human spirit triumphed in the face of
growth and opportunities as the air travel recovers. F.I.T. is adversity, where the whole airport community came together
an acronym for Financially sustainable, Impact driven and to safeguard the wellbeing of all airport guests and continually
Technology focused. upheld the promise to host joyful connections.
The plan is divided into two phases; in the short term from now I would like to record my heartfelt thanks and deepest gratitude
till 2022, the Group’s focus is to survive and recover from the to my colleagues for their commitment and dedication, and
pandemic while beyond that, from 2023 till 2025, the focus will particularly to our frontline staff, for their many sacrifices to
turn to positioning ourselves for future business growth and advance Malaysia Airports’ brand promise.
sustainability.
We would also like to thank our Board of Directors for their
Phase 1 Survival and Recovery (2021-2022) guidance and stewardship at the helm of Malaysia Airports,
In this crucial phase, the plan addresses our business and and for their leadership and support in enabling us to forge
financial positioning which have been impacted by the ahead and tackle all the challenges the year had delivered.
pandemic and helps us navigate the through the resulting
economic slowdown. During this period, the Group will focus Our sincere thanks also go out to the various ministries,
on five main strategic themes namely, Survivability, Fixing the government agencies, airline partners, retail partners, vendors
Basics, Horizontal Expansion, Digitalisation and Critical Asset and other business partners who scaled every challenge by our
Replacement. side. And to our shareholders, we thank you for your support
throughout 2020.
Phase 2 Growth and Transformation (2023-2025)
While the way forward may still be filled with challenges,
In Phase 2, Malaysia Airports will focus on positioning ourselves
with the spirit of mutual cooperation and support between
for future business growth and sustainability. This phase will
Malaysia Airports and its stakeholders that has prevailed,
be anchored by three strategic thrusts, namely Maximising
we will be able to move together towards a brighter future,
Revenue Generation, Developing New Capabilities and
emerging stronger together from these turbulent times. I look
Ensuring Business Sustainability.
forward to working closely with all of you in 2021.
In addition to laying the groundwork for the Group to survive
and recover from the pandemic, FUTURE F.I.T. is also the
runway for future growth, leading towards realising our
vision of becoming ‘A Global Airport Group that Champions
Connectivity and Sustainability’, together with returning to
profitability and staking our place among the Top 5 airports
Dato’ Mohd Shukrie Mohd Salleh
globally.
Five-Year Financial Summary
Revenue Profit Before Tax ation
In RM Million In RM Million
2020 1,866.3 2020 (1,763.9)
2019 5,213.1 2019 659.2
2018 4,851.7 2018 780.6
2017 4,651.3 2017 338.8
2016 4,172.8 2016 183.3
Prof it F or T he Y ear Total Equity
In RM Million In RM Million
2020 (1,116.2) 2020 8,099.3
2019 537.0 2019 9,325.4
2018 727.3 2018 9,140.7
2017 240.4 2017 8,715.7
2016 73.2 2016 8,696.9

Group Five-Year Summary
C O N S O L I DA T E D S T AT E M ENT OF PROF IT OR L OSS

Fo r th e financ ial ye a r s e n d e d 3 1 D e ce m b e r
In RM Million 2020 2019 2018 2017 2016
Revenue 1,866.3 5,213.1 4,851.7 4,651.3 4,172.8
(Loss)/Profit before tax and zakat from continuing (1,763.9) 659.2 780.6 338.8 183.3
operations
Taxation and zakat 647.7 (122.1) (53.3) (98.4) (110.2)
(Loss)/Profit from continuing operations, (1,116.2) 537.0 727.3 240.4 73.2

net of tax and zakat
Loss for the year from discontinued operations, - - - - (0.0)

net of tax and zakat
(Loss)/Profit for the year (1,116.2) 537.0 727.3 240.4 73.2
(Loss)/Profit attributable to:
Owners of the Company (1,116.2) 537.0 727.3 239.8 70.4
Non-controlling interest - - - 0.6 2.8
(Loss)/Profit for the year (1,116.2) 537.0 727.3 240.4 73.2
Earnings per share attributable to equity holders of

the Company (sen)
Basic, for (loss)/profit from continued operations (70.75) 28.90 40.37 10.98 0.94
Basic, for (loss)/profit for the year (70.75) 28.90 40.37 10.98 0.94
C O N S O L I DA T E D S T AT E M ENT OF F INANC IAL P OSITION

Fo r th e financ ial ye a r e n d e d 3 1 D e ce m b e r
In RM Million 2020 2019 2018 2017 2016
ASSETS
Non-current assets 17,856.5 17,781.7 18,010.2 18,832.0 18,698.8
Current assets 2,422.4 4,401.0 4,262.9 3,372.8 2,589.6
Asset of disposal group classified as held for disposal - - - - 0.2
Total assets 20,278.9 22,182.7 22,273.1 22,204.8 21,288.6
EQUITY
Share capital 5,114.3 5,114.3 5,114.3 5,114.3 1,659.2
Perpetual sukuk 997.8 997.8 997.8 997.8 997.8
Share premium¹ - - - - 3,455.1
Retained earnings 1,944.9 3,284.7 3,037.4 2,583.3 2,321.2
Fair value adjustment reserve - - - - 8.3
Hedging reserve (36.2) (18.0) (24.9) (28.6) (37.4)
Foreign exchange reserve 74.4 (54.2) 12.0 42.0 283.8
Other reserves 4.1 0.8 4.0 6.9 6.8
8,099.3 9,325.4 9,140.7 8,715.7 8,694.9
Non-controlling interest - - - - 2.0
Total equity 8,099.3 9,325.4 9,140.7 8,715.7 8,696.9
Non-current liabilities 10,701.8 9,568.2 10,999.7 11,262.7 10,825.9
Current liabilities 1,477.7 3,289.1 2,132.6 2,226.4 1,765.7
Total liabilities 12,179.6 12,857.3 13,132.4 13,489.1 12,591.7
Total equity and liabilities 20,278.9 22,182.7 22,273.1 22,204.8 21,288.5
Net asset per share (RM) 4.88 5.62 5.51 5.25 5.24
¹ The Group’s share premium account was transferred to form part of the Group’s share capital pursuant to the Companies Act 2016
which come into force on 31 January 2017.
Group Quarterly Performance
Year 2020 First Second Third Fourth Year

In RM Million Quarter Quarter Quarter Quarter 2020
Financial Performance
Revenue 933.8 272.2 396.7 263.6 1,866.3
(Loss)/Profit before tax and zakat (35.5) (268.3) (384.9) (1,075.1) (1,763.9)
(Loss)/Profit net of tax (20.4) (91.1) (319.7) (685.0) (1,116.2)
Earnings per share (sen) (2.09) (6.35) (20.14) (42.16) (70.75)
Year 2019 First Second Third Fourth Year

In RM Million Quarter Quarter Quarter Quarter 2019
Financial Performance
Revenue 1,252.3 1,261.2 1,355.2 1,344.4 5,213.1
Profit before tax and zakat 164.6 201.6 246.8 46.1 659.2
Profit net of tax 149.6 160.1 197.9 29.5 537.0
Earnings per share (sen) 8.16 8.78 11.05 0.91 28.90

Consolid ated Statement of Profit or Loss

for the financial year ended 31 December 2020
In RM Million 2020 2019
Revenue 1,866.3 5,213.1
Cost of inventories sold (90.9) (435.6)
Other income 186.2 265.5
Operating expenditure (1,940.0) (2,751.0)
Depreciation, amortisation and impairment (1,110.1) (941.6)
Operating (loss)/profit (1,088.5) 1,350.4
Finance costs (663.8) (726.0)
Share of results of associates (16.0) 15.3
Share of results of joint ventures 4.4 19.4
(Loss)/Profit before tax and zakat (1,763.9) 659.2
Taxation and zakat 647.7 (122.1)
(Loss)/Profit net of tax (1,116.2) 537.0
(Loss)/Profit attributable to:
Owners of the Company (1,116.2) 537.0
Earnings per share attributable to equity holders of the Company (sen)
- Basic, for (loss)/profit from continued operations (70.75) 28.90

Consolid ated Statement of Financial Position

as at 31 December 2020
In RM Million 2020 2019
Assets
Property, plant and equipment 433.7 455.0
Right-of-use assets 93.9 137.2
Intangible assets 15,894.1 16,062.6
Investments 543.6 564.1
Other non-current assets 891.2 562.7
Current assets 2,422.5 4,401.0
Total assets 20,278.9 22,182.7
Equity and liabilities
Share capital 5,114.3 5,114.3
Perpetual sukuk 997.8 997.8
Retained earnings 1,944.9 3,284.7
Hedging reserve (36.2) (18.0)
Foreign exchange reserve 74.4 (54.2)
Other reserves 4.1 0.8
Total equity 8,099.3 9,325.4
Non-current liabilities 10,701.8 9,568.2
Current liabilities 1,477.7 3,289.1
Total liabilities 12,179.6 12,857.3
Total equity and liabilities 20,278.9 22,182.7
Net asset per share (RM) 4.88 5.62
Return on assets -5.5% 2.4%

Group Segmental Analysis
REVENUE 2020
RM1,866.3 MILLION
MALAYSIA
983.6
Airport Services
2,791.4
Duty Free and 154.7
Non- Dutiable Goods 852.9
Agriculture and 34.7
Horticulture 26.9
42.3
Hotel
88.6
Project and Repair 18.6
Maintenance 15.2
-
Other @
-
OVERSEAS
549.7
Airport Services
1,291.6
Maintenance 146.6
PROFIT/(LOSS) BEFORE TAXATION 2020

RM(1,763.9) MILLION
MALAYSIA
(736.1)
Airport Services
622.5
Duty Free and (104.1)
Non- Dutiable Goods 44.5
Agriculture and 5.4
Horticulture (0.1)
(12.5)
Hotel
12.3
Maintenance 52.6
(624.3)
Other @
(223.6)
OVERSEAS
(326.7)
Airport Services
145.0
Maintenance 5.9
2020 2019
Note: The group revenue segmental analysis excludes inter-segment transactions and consolidated adjustments
@ Other segmental profit before taxation includes inter-segment eliminations and consolidation entries.
Group Segmental Analysis
REVENUE 2020
RM1,866.3 MILLION
1.9%
Hotel
2.6% Project and Repair Maintenance
5.4%
Duty Free and

Non-Dutiable Goods
8.2%
2020 Aeronautical
47.5%
Non-Aeronautical
(Rental & Others)
34.5%
REVENUE 2019
RM5,213.1 MILLION
0.5%
Hotel
1.9% Project and Repair Maintenance
3.1%
Duty Free and

Non-Dutiable Goods
16.3%
2019 Aeronautical
53.0%
Non-Aeronautical
(Rental & Others)
25.2%
Statement of Income Distribution
2020 2019
RM Million RM Million
Current income available for distribution1 2,041.0 5,513.4
To suppliers
Purchase of goods and services 1,139.8 1,805.1
To employees
Employment costs 742.6 920.0
To financiers
Finance costs 663.8 726.0
To government
User fee and taxation (499.2)2 583.6
Utilisation of assets
Depreciation, impairment and amortisation 1,110.1 941.6
Retained for re-investment, future growth and dividend payment

Net (reduction)/addition in retained profits (1,116.2) 537.0
2,041.0 5,513.4
1
Current income available for distribution includes revenue, other income and share of results of associates & joint ventures.
2
The distribution to the government is as a result of tax credits that were largely due to the recognition of tax recoverable and deferred
tax assets.
Statement of Financial Position
TOTAL ASSETS 2020 TOTAL ASSETS 2019

RM20,278.9 MILLION RM22,182.7 MILLION
Cash and cash Other assets Cash and cash Other assets
equivalents 3.4% equivalents 1.9%
4.8% 6.6%
Property, plant, and equipment Property, plant, and equipment
Trade and other & right-of-use assets Trade and other & right-of-use assets
receivables 2.6% receivables 2.7%
4.6% 6.0%
Intangible assets Intangible assets
Investments 78.4% Investments 72.4%
and financial and financial
assets
6.2% 2020 assets
10.4% 2019
EQUITY AND LIABILITIES 2020 EQUITY AND LIABILITIES 2019

RM20,278.9 MILLION RM22,182.7 MILLION
Other liabilities Other liabilities

4.3% 5.0%
Share capital Share capital
Trade 25.2% Trade 23.1%
and other and other
payables
32.9% 2020 Perpetual sukuk
payables
30.7% 2019 Perpetual sukuk
4.9% 4.5%
Reserves Reserves
Loan and 9.8% Loan and 14.5%
borrowings borrowings
22.9% 22.2%
Annual Report 2020 >> Our Governance 121
Board of Directors’ Profile
DATO’ SERI DIRAJA Present Directorship(s) • Served as Visiting Professor, Institut

Listed Issuer: Agama Islam Negeri at Pekan Baru,
DR. ZAMBRY ABD KADIR • Malaysia Airports Holdings Berhad Indonesia from 1997 to 1998
Non-Independent Other Public Companies: • Appointed as the Chief Executive
Non-Executive Chairman • None Officer of Centre for Leadership
and Development Studies from
Dat e o f A ppo in tment Membership of Board Committee(s) 1996 until 1998
12 Au gu s t 2 02 0 • None
Number of Board Meetings
G e nde r Present Appointment(s) Attended for the Year Under Review
Male • State Assemblyman for Pangkor, • 7 out of 7 (100%)
Perak since 2004 until present
Ag e Nat ion ality • Adjunct Professor at Universiti
59 Ma laysian Sultan Azlan Shah, Perak
Past Experience
Academic/ Professional • Served as the Chief Minister of
Qualification(s)
Perak from February 2009 until May
• Bachelor of Economics (Hons.),
2018
International Islamic University
• Served as a member of the
Malaysia (IIUM)
• Master of Arts, IIUM Perak State Executive Council
• Master of Arts, Temple for Education, Economic
University, USA Development, Science and
• Doctor of Philosophy, Temple Technology from 2004 until 2008
University, USA • Adjunct Professor at Department of
• Honorary Doctorate of Business Political Science, IIUM in 2015 until
Administration, Royal Docks 2018
School of Business & Law, • Appointed as Professor in Practice
University of East London
at Putra Business School, Universiti
• Honorary Doctorate, Pukyong
Putra Malaysia from 2017 until 2019
National University South Korea
• Appointed as the Chief Executive
• Harvard Leadership Program at
Kennedy School of Government, Officer of Mind Institute from 2000
Harvard University, USA until 2004
122 Malaysia Airports Holdings Berhad >> Our Governance
DATO’ ZAMZURI Present Directorship(s) Past Experience

Listed Issuer: • Started career as an Assistant
ABDUL AZIZ • Malaysia Airports Holdings Berhad Director at the Malaysian
Non-Independent Other Public Companies: Investment Development Authority
Non-Executive Director • Syarikat Perumahan Negara Berhad in 1995
• Joined the Administrative &
Dat e o f A ppo in tment Membership of Board Committee(s) Diplomatic Service and later
10 F e bru a ry 2 020 • Member of Board Procurement appointed as Assistant Secretary at
Committee the Ministry of Domestic Trade &
G e nde r • Member of Board Finance & Consumer Affairs
Male Investment Committee • Joined the Ministry of Finance
(MOF) in 1998 as the Assistant
Ag e Nat ion ality Present Appointment(s) Secretary in the Administration
51 Ma laysian • Under Secretary, Government Division and thereafter promoted
Procurement Division, Ministry of to Principal Assistant Director in the
Finance (MOF), Malaysia Budget Management Division in
• Board Member of Suruhanjaya 2003
Academic/ Professional
Qualification(s) Koperasi Malaysia • Promoted to several positions
• Bachelor in Economics • Board Member of SPNB Mesra Sdn. throughout his service in the
(Business Administration) Bhd. Budget Management Division
(Hons.), University of Malaya • Member of Supervision & under MOF
• Masters in Economics (Islamic Monitoring Committee of Syarikat • Served the MOF as Deputy
Finance), National University of Jaminan Pembiayaan Perniagaan Director, General Service Unit,
Malaysia Berhad (JPPB) National Budget Office from
• Postgraduate Diploma in Public • Member of Construction Industry August 2010 until November 2018
Management, National Institute Development Board (CIDB)
of Public Administration Malaysia Number of Board Meetings
(INTAN) • Chairman of MAB Agriculture- Attended for the Year Under
• Advanced Management
Horticulture Sdn. Bhd. Review
Programme, Harvard Business
• 12 out of 12 (100%)
School, Boston, USA
• Advanced Leadership &
Management Programme,
INTAN
NORMAH OSMAN Present Directorship(s) • Served as Senior Director of

Listed Issuer: Bilateral Economic & Trade
Non-Independent
• Malaysia Airports Holdings Berhad Relations Division, MITI from 2015
Non-Executive Director
Other Public Companies: to 2017
• None • Served as Senior Director of
Multilateral Policy and Negotiation
Dat e o f A ppo in tment Membership of Board Committee(s) Division, MITI from August 2017
2 6 A pril 2 02 1 • None until July 2018
• Appointed as Senior Director
G e nde r Present Appointment(s) at Deputy Secretary General’s
FE Male • Deputy Secretary General (Policy), Office (Policy & Entrepreneurial
Ministry of Transport Strategy), Ministry of Entrepreneur
Ag e Nat ion ality • Board Member of Penang Port Sdn. Development and Cooperatives
53 Ma laysian Bhd. from July 2018 to January 2019
• Board Member of Port Klang Free • Appointed as Division Secretary of
Trade Zone Sdn. Bhd. Policy Planning and Coordination
• Board Member of Ipoh Cargo Division, Ministry of Education from
Terminal January 2019 to February 2020
Qualification(s)
• Committee Member of Kumpulan
• Bachelor of Business
Wang Pusat Perdagangan Laut Number of Board Meetings
Administration (Hons.), National
Attended for the Year Under Review
University of Malaysia
Past Experience • N/A
• Diploma in Public
• Joined the Ministry of International
Administration, National
Trade & Industry (MITI) as Assistant
Institute of Public
Secretary from 1995 to 2003 and as
Administration (INTAN)
Chief Assistant Secretary from 2003
• Master of Arts (Management),
to 2006
Claremont Graduate University,
• Served as Advisor for Economic
California, USA
Affairs of Singapore, MITI in 2006
• Served as Director (Stock &
Company Organisation Division),
MITI in 2007
WONG SHU HSIEN Present Directorship(s) Number of Board Meetings

Listed Issuer: Attended for the Year Under Review
Non-Independent
• Malaysia Airports Holdings Berhad • 16 out of 16 (100%)
Non-Executive Director
Other Public Companies:
• PLUS Malaysia Berhad
• UEM Group Berhad
Dat e o f A ppo in tment
7 Ma rch 2 019 Membership of Board Committee(s)
• Member of Board Audit Committee
G e nde r • Member of Board Nomination &
FE Male Remuneration Committee
• Member of Board Finance &
Ag e Nat ion ality Investment Committee
48 Ma laysian
Present Appointment(s)
• Head of Infrastructure, Khazanah
Nasional Berhad
Qualification(s)
Past Experience
• Masters of Arts in Economics,
• Attached to BinaFikir Sdn. Bhd.
Cambridge University, UK
prior to joining Khazanah Nasional
• Masters of Science in
Berhad in 2005
Economics, London School
• Served in a private equity firm,
of Economics and Political
Emerging Markets Partnership
Science, UK
• Chartered Financial Analyst
DATO’ MOHAMAD Present Directorship(s)

Listed Issuer:
• Held the position of General
Manager, International Equity
NASIR AB LATIF • Malaysia Airports Holdings Berhad Department, EPF from 2009 until
Non-Independent • RHB Bank Berhad 2013
Non-Executive Director • United Plantations Berhad • Appointed as the Deputy Chief
• Malaysian Resources Corporation Executive Officer of Investment
Berhad Division, EPF from 2013 until
Dat e o f A ppo in tment • Yinson Holdings Berhad
1 O ct o b e r 2 02 0 retirement in December 2019
Other Public Companies:
• PLUS Malaysia Berhad
G e nde r Number of Board Meetings
• RHB Islamic Bank Berhad
Male Attended for the Year Under Review
Membership of Board Committee(s) • 4 out of 4 (100%)
Ag e Nat ion ality • Chairman of Board Risk
63 Ma laysian Management Committee
• Member of Board Finance &
Investment Committee
Qualification(s)
• Bachelor’s Degree in Social • Chairman of Investment Panel
Science (Economics), Universiti of Kumpulan Wang Persaraan
Sains Malaysia (Diperbadankan)
• Master of Science in Investment
Analysis, University of Stirling, Past Experience
UK • Started his career with the
• Certified Diploma in Employees Provident Fund (EPF)
Accounting and Finance, and held several positions including
Association of Chartered as State Enforcement Officer (1990
Certified Accountants (ACCA) to 1995), Senior Research Officer,
Investment and Economics Research
Department (1995 to 1998), Senior
Manager, Corporate Surveillance
Department (1998 to 2008) and
Senior Manager Equity Investment
Department (2008 to 2009)
DATUK SERI Present Directorship(s)

Listed Issuer:
Past Experience
• Served as a building engineer
YAM KONG CHOY • Malaysia Airports Holdings Berhad in the United Kingdom with
Senior Independent • Paramount Corporation Berhad various companies and the Works
Non-Executive Director • Cahya Mata Sarawak Berhad Department of the NHS
Other Public Companies: • Past President and Patron of the Real
Dat e o f A ppo in tment • None Estate and Housing Developers’
1 De ce mb e r 2 013 Association of Malaysia
Membership of Board Committee(s) • Served more than 35 years in
G e nde r • Chairman of Board Finance & the construction, real estate and
Male Investment Committee corporate sectors. In the last 12
• Member of Board Nomination & years prior to 2008, he also helmed
Ag e Nat ion ality Remuneration Committee two different public listed property
68 Ma laysian companies as Chief Executive Officer
Present Appointment(s) and Managing Director
• Global Vice President of Chartered • Served in various large companies,
Institute of Building (CIOB) such as Landmarks Berhad, Peremba
• Chairman of Malaysia Airports (Niaga) Malaysia, Country Heights Holdings
Qualification(s)
Sdn. Bhd. Berhad and Sunrise Berhad in the
• Post-Graduate Diploma in
• Chairman of K.L. Airport Hotel Sdn. development of hotels, resorts,
Building and Management
Bhd. shopping malls, golf courses,
Studies, University of
• Board Member of KLIA Aeropolis international schools, residential and
Westminster, UK
Sdn. Bhd. mixed developments in Malaysia,
• DUniv, Honorary Doctorate of
• Director of Kwasa Utama Sdn. Bhd. Australia, United Kingdom, Mauritius
the Heriot-Watt University, UK
• Chairman of InvestKL Corporation and South Africa
• Fellow of Royal Institution of
• Chairman of Triterra Sdn. Bhd.
Chartered Surveyors
• Chairman of Metropolitan Lake Number of Board Meetings Attended
• Fellow of Chartered Institute of
Development Sdn. Bhd. for the Year Under Review
Building
• Board of Trustees of Standard • 16 out of 16 (100%)
Chartered Foundation
• MD/CEO of Impetus Alliance
Advisors Sdn. Bhd.
DATUK ZALEKHA HASSAN Present Directorship(s) • Served the Ministry of Finance

Listed Issuer: (MOF) in 1997 as Senior Assistant
Independent Non-Executive
• Malaysia Airports Holdings Berhad Director of the Budget Division
Director
Other Public Companies: and continued to serve in
• None various capacities including in
the Government Procurement
Dat e o f A ppo in tment Membership of Board Committee(s) Division until retirement in May
1 J anu ary 2 014 • Chairman of Board Procurement 2011 as Deputy Secretary-General
Committee (Operations) of MOF
G e nde r • Member of Board Nomination & • Appointed as Government
FE MALE Remuneration Committee Procurement Advisor, MOF, from
• Member of Board Risk June 2011 until June 2013
Ag e Nat ion ality Management Committee
68 Ma laysian Number of Board Meetings
Present Appointment(s) Attended for the Year Under Review
• Chairman of Malaysia Airports • 16 out of 16 (100%)
(Sepang) Sdn. Bhd.
• Chairman of Malaysia Airports
Qualification(s)
Consultancy Services Sdn. Bhd.
• Bachelor of Arts (Hons.),
• Chairman of Menara Kuala Lumpur
University of Malaya
Sdn. Bhd.
• Advance Management
Programme, Harvard Business
Past Experience
School, Harvard University, USA
• Started her career in the Malaysian
• Attended several Leadership
civil service in 1977 as an Assistant
and Management programs in
Director in the Training and Career
South Africa, Japan and Korea
Development Division, Public
between 1997 and 2001
Service Department
• Served the Malaysian Government
in several ministries including the
Ministry of Health, Ministry of Social
Welfare and Ministry of National
Unity and Social Development
ROSLI ABDULLAH Present Directorship(s)

Listed Issuer:
• Attached to the Public Services
Department and was the Chief
Independent Non-Executive
• Malaysia Airports Holdings Berhad Accountant at the Government’s
Director
• Capitaland Malaysia Mall REIT Pension Department and Secretary to
Management Sdn. Bhd. the Teachers Provident Fund from 1989
• Dagang NeXchange Berhad to 1991
Dat e o f A ppo in tment Other Public Companies: • Appointed as Bursar of Universiti Putra
1 J anu ary 2 014 • None Malaysia from 1991 to 1993.
• Director of Corporate Services at the
G e nde r Membership of Board Committee(s) Accountant General’s Department from
Male • Chairman of Board Audit Committee 1993 to 1994
• Member of Board Risk Management • Financial Controller/ General
Ag e Nat ion ality Committee Manager of Finance at Kuala Lumpur
68 Ma laysian International Airport Berhad from 1994
Present Appointment(s) to 1996
• Chairman of KLIA Aeropolis Sdn. Bhd. • Senior General Manager of Putrajaya
• Board Member of Malaysia Airports Holdings Sdn. Bhd. from 1996 to 2008
Consultancy Services Sdn. Bhd. • Adviser to Economic Planning Unit,
Qualification(s)
• Board Member of İstanbul Sabiha Prime Minister’s Department from 2008
• Bachelor of Economics (Hons.),
Gökçen Uluslararası Havalimanı Yatırım to 2009
University of Malaya
Yapım ve İşletme A.Ş. • Served as Council Member, Chief
• Post-Graduate Diploma in
• Board Member of SGC Havalimanı Executive Officer and Registrar of MIA
Accounting, University of
İşletmeleri Ticaret ve Turizm A.Ş. • Board Member and Chairman of Audit
Malaya
Committee of Bank Pembangunan
• Master in Business
Past Experience Malaysia Berhad and Keretapi Tanah
Administration, National
• Held various positions in public and Melayu Berhad
University of Malaysia
private sectors such as the Accountant • Chairman of i-VCAP Management Sdn.
• Chartered Accountant,
General’s Office at the State and Bhd.
Malaysian Institute of
Federal Treasury Departments, Ministry
Accountants (MIA)
of Finance, Chief Accountant in the Number of Board Meetings Attended
Ministry of Works and Ministry of for the Year Under Review
Education • 16 out of 16 (100%)
DATO’ IR MOHAMAD Present Directorship(s) • Held position as Director of Roads

Listed Issuer: before being promoted to the post
HUSIN • Malaysia Airports Holdings Berhad of Deputy Director General in 2007
Independent Non-Executive Other Public Companies: until his retirement in 2013
Director • None • Whilst in the Government service,
involved in the construction
Dat e o f A ppo in tment Membership of Board Committee(s) of development projects and
15 Au gu s t 2 016 • Member of Board Audit Committee maintenance of government
• Member of Board Procurement facilities, mainly relating to roads,
G e nde r Committee buildings, ports and airports
Male • Member of Board Information
Technology Oversight Committee Number of Board Meetings
Ag e Nat ion ality Attended for the Year Under Review
67 Ma laysian Present Appointment(s) • 16 out of 16 (100%)
• Chairman of Malaysia Airports Sdn.
Bhd.
• Chairman of Urusan Teknologi
Wawasan Sdn. Bhd.
Qualification(s)
• Board Member of Johawaki
• Bachelor of Science (Hons.) in
Holdings Sdn. Bhd.
Civil Engineering, University of
• Board Member of Bridgex Sdn. Bhd.
Southampton, UK
• Master of Science in Civil
Past Experience
Engineering, University of
• Started career as Water Engineer in
Pittsburgh, USA
Public Works Department (PWD),
• Professional Engineer, Board of
Ministry of Works and served PWD
Engineers Malaysia
for 35 years in various capacities
including as District Engineer,
Assistant Director, State and Branch
Director
DATUK AZAILIZA Academic/ Professional

Qualification(s)
• Held various roles as a Judicial and
Legal Officer with the Courts and
MOHD AHAD • Bachelor of Laws, University of the Attorney General’s Chambers
Independent Non-Executive Malaya of Malaysia. Among others, served
Director as a Magistrate, Senior Assistant
Present Directorship(s) Registrar, Legal Advisor to the
Listed Issuer: Economic Planning Unit, Prime
Dat e o f A ppo in tment • Malaysia Airports Holdings Berhad Minister’s Department, as a Senior
8 Nove mb e r 2 0 16 Other Public Companies: Federal Counsel with the Advisory
• None and International Division, as the
G e nde r Head of the International Affairs
FE MALE Membership of Board Committee(s) Division, the Deputy Solicitor
• Chairman of Board Nomination & General I and Solicitor General of
Ag e Nat ion ality Remuneration Committee Malaysia
60 Ma laysian • Member of Board Audit Committee
• Member of Board Finance & Number of Board Meetings
Investment Committee Attended for the Year Under Review
• 16 out of 16 (100%)
• Partner with Messrs Gani Patail
Chambers
• Board Member of Malaysia Airports
Sdn. Bhd.
• Board Member of KLIA Aeropolis
Sdn. Bhd.
• Chairman of Whistleblowing
Independent Committee of
Malaysia Airports
Past Experience
• Undertook legal advisory
work relating to domestic and
international matters over a period
of 30 years
RAMANATHAN Present Directorship(s)

Listed Issuer:
• During his tenure with IBM Group,
he held various roles in many
SATHIAMUTTY • Malaysia Airports Holdings Berhad countries such as Japan, Korea,
Independent Non-Executive • Prestariang Berhad India, Singapore and USA
Director Other Public Companies: • He then served as Chief
• None Transformation Officer at Celcom
Dat e o f A ppo in tment Axiata Berhad from 2016 and a
Membership of Board Committee(s)
1 J anu ary 2 019 former Advisor to Chief Executive
• Chairman of Board Information
Officer of Celcom Axiata Berhad
Technology Oversight Committee
G e nde r • Member of Board Risk Management
Male Number of Board Meetings
Committee
• Member of Board Procurement Attended for the Year Under Review
Ag e Nat ion ality Committee • 16 out of 16 (100%)
57 Malaysian
• Board Member of Malaysia Airports
(Sepang) Sdn. Bhd.
• Chairman of İstanbul Sabiha
Qualification(s)
Gökçen Uluslararası Havalimanı
• Bachelor of Engineering
Yatırım Yapım ve İşletme A.Ş.
(Electrical & Electronic) (Hons.),
• Chairman of SGC Havalimanı
National University of Malaysia İşletmeleri Ticaret ve Turizm A.Ş.
• Master of Business
Administration, Universiti Putra Past Experience
Malaysia • Started career as a systems
• Executive Management engineer at IBM Corporation
Programme, Harvard Business Malaysia. Served IBM Group for
School and INSEAD 24 years in various roles involving
telecommunications, utilities,
media and entertainment sectors
and appointed as Managing
Director of IBM Malaysia in January
2010
DATO’ DR. Present Directorship(s)

Listed Issuer:
• Board Member of Railway Assets
Corporation (RAC)
AMIRUDDIN MUHAMED • Malaysia Airports Holdings Berhad • Board Member of Sinergi Perdana
Alternate Director to Dato’ Other Public Companies: Sdn. Bhd.
Zamzuri Abdul Aziz • Export-Import Bank of Malaysia
Berhad Past Experience
Non-Independent • Served as Chief Executive Officer
Membership of Board Committee(s) of Majlis Agama Islam dan Adat
Non-Executive director
• None Melayu Perak
• Appointed as Assistant Director in
Dat e o f A ppo in tment Present Appointment(s) Accountant General Department,
10 F e bru a ry 2 020 • Deputy Under Secretary (Strategic MOF
and General) of the Government • Served as Senior Principal Assistant
Investment Division of the Ministry Secretary in Investment, MKD (Inc)
G e nde r of Finance (MOF) and Privatisation Division, MOF to
Male • Board Member of MRT Corporation manage the corporatisation and
Sdn. Bhd. privatisation activities of agencies
Ag e Nat ion ality • Board Member of SRC International under the jurisdiction of specific
49 Ma laysian Sdn. Bhd. Ministries
• Board Member of Suria Strategic • Later joined the Strategic
Energy Resources Sdn. Bhd. Investment Division under MOF
• Board Member of My Power
Academic/ Professional (Company Limited by Guarantee) Number of Board Meetings
Qualification(s) • Board Member of Transit Acquirer Attended for the Year Under Review
• Bachelor of Accounting (Hons.), Sdn. Bhd. • N/A
National University of Malaysia
• Master of Economics (Economic
Development), National Declaration by Board of Directors:
University of Malaysia • No family relationship with any other Director and/or major shareholder of
• Doctor of Philosophy Malaysia Airports;
(Accounting and Finance), • No conflict of interests with Malaysia Airports;
Durham University, UK • No conviction for offences other than traffic offences for the past 5 years;
• No public sanction or penalty imposed by any regulatory bodies during the
financial year ended 31 December 2020;
• Does not hold more than 5 directorships in listed issuers.
Group Se nior Management
Key Senior Management
DATO’ MOHD SHUKRIE MOHAMED RASTAM AZMAN SHAH MOHAMED MOHD ARIF JAAFAR
MOHD SALLEH SHAHROM Chief Human Capital Officer Senior General Manager,
Group Chief Executive Officer Group Chief Financial Officer MA (Sepang)
47 50 56 56
Hani Ezra Hussin MEGAT ARDIAN WIRA KAMARUZZAMAN RAZALI

Senior General Manager, MOHD AMINUDDIN General Manager, MASB
Commercial Services Senior General Manager,
Strategy
46 49 57
Additional information on Key Senior Management

Unless stated in their profiles, none of them has:
• Any directorship of public companies and listed issuers;
• Any family relationship with any director and or/ substantial shareholder of the listed issuer;
• Any conflict of interest that he has with the listed issuer;
• Any list of convictions for offences within the past 5 years other than traffic offences; and
• Any particulars of sanctions and penalty imposed by relevant regulatory bodies.
Group Senior Management
DATO’ MOHD SHUKRIE MOHD SALLEH MOHAMED RASTAM SHAHROM

Group Chief Executive Officer Group Chief Financial Officer
D at e o f P RE S E NT appoin tment: 2 Mar ch 2020 D a te of P RES ENT a p p oi ntm ent: 1 7 A p ri l 20 20
G ende r Age National i ty G end er A g e Na ti ona l i t y

M ale 47 Malaysia n M a l e 50 M a l ays i a n
Academic/Professional Qualifications Academic/Professional Qualifications

• Bachelor’s Degree in Business Studies, University of North • BSc (Honours) in Accounting and Finance, University of
London, UK Wales, Aberystwyth, UK
• Chartered Accountant with the Malaysian Institute of • Chartered Accountant with the Malaysian Institute of
Accountants (MIA) Accountants (MIA)
• Fellow of the Association of Chartered Certified
Experience Accountants, UK
Dato’ Mohd Shukrie joined Malaysia Airports in 2019 as
Chief Operating Officer and was appointed as Group Chief Experience
Executive Officer in 2020. Prior to joining Malaysia Airports, Mohamed was the Chief
Financial Officer of UEM Sunrise Berhad. He has over 20 years
Prior to that, Dato’ Mohd Shukrie had led AirAsia’s Redbox of experience in the fields of finance, investment appraisal,
Logistics as its Chief Executive Officer and was later appointed fundraising, financial analysis and planning, finance operations,
as Chief Operating Officer for AirAsia Malaysia. international JVs and statutory reporting.
He has vast experience in the logistics business. He helmed Prior to that, he was the Senior Vice President of Enterprise
Pos Malaysia Berhad as Group Chief Executive Officer and was Solutions and Vice President, Finance at Celcom Axiata. He
previously its Group Chief Operating Officer. also served as Vice President, Corporate Finance and Advisory
at Affin Investment Bank, and before that as Assistant Vice
He was also Group Chief Executive Officer of Konsortium President at Hwang-DBS Investment Bank, and both capacities
Logistik Berhad. Dato’ Mohd Shukrie also had an illustrious worked on multiple initial public offerings and mergers and
career at DRB-HICOM Berhad. acquisitions.
His leadership roles include Chief Executive Officer of He had also served as Vice President Finance, at an oil and gas
KL Airport Services Sdn. Bhd., as well as Chief Executive company, overseeing the Engineering & Construction Division and
Officer, Principal Controller, Chief Financial Officer and Chief Drilling Services. During his tenure there, he was instrumental in
Operating Officer of entities within the DRB-HICOM Group. driving several initiatives, including automating and streamlining
He is also currently a Director on the Airports Council (ACI) the finance operations, cost reduction programmes business and
Asia-Pacific Regional Board. asset acquisitions and international project financing.
Azman Shah Mohamed Lee Yiang Ming

Chief Human Capital officer Chief Information Officer
D at e o f P RE S E NT appoin tment: 17 Apr il 2020 D a te of P RES ENT a p p oi ntm ent: 1 A p ri l 20 20


• Masters in Business Administration, Central Michigan • Degree in Business Computing, University of Winnipeg,
University, USA Canada
Experience Experience
Azman joined Malaysia Airports in 2017. Prior to his Lee joined Malaysia Airports in 2019. Prior to this appointment,
appointment, he held senior management positions in Group he served as Executive Director with UOB Singapore. He
Human Capital at Telekom Malaysia Berhad. Azman is a senior possesses more than 28 years of IT experience and has
and experienced HR professional with 16 years of extensive assumed various management roles across industries including
telecommunication and banking.
exposure in various disciplines of human resources, ranging
from Strategic HR, Industrial Relations to Remuneration and
Throughout his career, he has built specialisation in the areas
Performance Management.
of transformation, software quality, and process engineering.
Among his notable projects were establishing one of the largest
He has led various HR transformation programmes including
software testing units in Malaysia with Scope International, as
compensation and benefit structure and the formulation of a
well as driving the establishment of Maybank’s Shared Services
long-term incentive plan for the company. in 2013.
Ibrahim Chang Boon Teck Dr Nor Azlina Mohd Isa

Chief Procurement Officer Head of Technical Services
D at e o f P RE S E NT appoin tment: 1 January 2021 D a te of P RES ENT a p p oi ntm ent: 1 Feb rua ry 20 21

M ale 55 Malaysia n FEM a l e 4 6 M a l ays i a n

• Honors Degree in Econometrics, Universiti Kebangsaan • Doctorate of Business Administration, Arshad Ayub Graduate
Malaysia Business School, Universiti Teknologi MARA (UiTM)
• Member of Chartered Institute of Procurement & Supply • Master of Business Administration, Universiti Utara Malaysia
• Post Graduate Diploma in Airport Engineering
Experience Management, National University of Singapore
Ibrahim first joined Malaysia Airports as General Manager • B. Engineering (Hons) in Civil Engineering, University of
Procurement and Contract in 2016. Prior to this, he held Malaya
numerous supply chain leadership roles in leading companies
Experience
such as Shell, F&N Coca Cola, Warner Lambert, Sapura Crest
Dr. Nor Azlina joined Malaysia Airports in 2002 as a civil engineer.
Petroleum and Perisai Petroleum.
Over the course of her career with Malaysia Airports, she rose
to be the General Manager of Planning and Development in
Through his journey and exposure in multiple industries
2011, and Head of Engineering of MA (Sepang) in 2016. She
ranging from oil and gas to fast-moving consumer goods, he
left Malaysia Airports in 2018 to expand her horizons and
possessed a vast and rich body of knowledge, perspective and
rejoined in 1 February 2021 as Head of Technical Services.
experience in procurement operations, contract management,
cost optimisation, value engineering, project procurement She has been accredited as an International Airport
and logistics. Professional in 2011, and has contributed as an instructor for
Airport Planning, Development & Environmental Management
module under the ACI-ICAO Airport Management Professional
Accreditation Programme. Dr. Nor Azlina is also a certified
Project Management Professional (PMP).
Hani Ezra Hussin Megat Ardian Wira Mohd Aminuddin

Senior General Manager, Commercial Services Senior General Manager, Strategy
D at e o f P RE S E NT appoin tment: 1 Mar ch 2020 D a te of P RES ENT a p p oi ntm ent: 1 M a rch 20 20

F EMALE 46 Malaysia n M a l e 4 9 M a l ays i a n

• Masters in Business Administration, University of Dubuque, • Bachelor of Business Administration in Marketing, Western
USA Michigan University, USA
• Chartered Institute of Marketing, UK • Master’s Degree in Aviation, Embry-Riddle Aeronautical
University, USA
Hani Ezra joined Malaysia Airports in 2016 and was appointed Megat joined Malaysia Airports in 2018 and prior to his present
as Senior General Manager, Commercial Services on 1 March appointment, he was General Manager of Corporate Planning,
2020. Prior to this, she was General Manager Commercial and Transformation, focusing on the Group’s strategic
Business. planning, growth, transformation as well as sustainability
initiatives.
She has more than 20 years of experience in marketing,
His career in the aviation industry started with AirAsia in 2004
branding and retail. She began her marketing career in fast-
where he managed the Government Relations and Special
moving consumer goods with F&N Dairies in 1997 before Projects portfolio. Megat then joined Malaysia Airlines Berhad
moving to Danone where she was responsible for all aspects (MAS) as part of the Transformation Management Team to
of marketing for Danone’s most trusted UK brand. In the retail facilitate MAS’ turnaround campaign. He was also Chief
business, Hani Ezra led the Marketing Division, Customer Commercial Officer at Flynas, a low-cost carrier based in
Service and Retail Relations for Suria KLCC, Kuala Lumpur’s Riyadh, Saudi Arabia.
leading shopping mall.
Megat had also provided consulting and training for the
International Air Transport Association on commercial strategy
She managed over 300 stores, refreshed marketing approaches
and transformation initiatives. Outside of the aviation industry,
and delivered an unparalleled shopping experience which Megat was Market Development Director for Malaysia and
contributed to the growth of retail sales and the evolution of Brunei for General Electric. He was also Chief Marketing
the retail industry in Malaysia. Officer of Malaysia Healthcare Travel Council, an agency under
the Ministry of Health Malaysia.
Mohamed Sallauddin Mohamed Shah Nik Anis Nik Zakaria

General Manager, Aviation Marketing and Development General Manager, Corporate Communications
D at e o f P RE S E NT appoin tment: 1 FEBRUAR Y 2008 D a te of P RES ENT a p p oi ntm ent: 1 J une 20 0 9

M ale 58 Malaysia n FEM a l e 57 M a l ays i a n

• Bachelor of Science in Accountancy and Computer Science, • Bachelor of Science Degree in Economics, Northern Illinois
Northern Illinois University, USA University, USA
• Master in Business Administration (Strategic Management),
International Business School, Universiti Teknologi Malaysia Experience
• Certified Professional Marketer conferred by Asia Marketing Nik Anis joined Malaysia Airports as General Manager of
Federation in collaboration with Institute of Marketing Corporate Communications in 2009. Before that, she was
Malaysia attached to Mesiniaga Berhad, a public-listed IT company.
Experience She has more than 30 years of working experience in various

Mohamed Sallauddin joined Malaysia Airports in 2001 and was capacities including managing sales and marketing, customer
appointed to his current role in 2020. service and operations, and corporate communications.
His professional career has predominantly been in the Since joining Malaysia Airports, she has developed and
aviation and aerospace industries where he had served the implemented strategies and action plans to align the corporate
national carrier, Malaysia Airlines, and Malaysia’s first aircraft communications direction with the organisation’s vision and
manufacturing company, Composite Technology Research objectives, including spearheading the digital communication
Malaysia, before joining Malaysia Airports. Notably, he platforms, and establishing a dominant presence and branding
led Malaysia Airports in hosting Asia’s first World Route for Malaysia Airports on social media.
Development Forum in Kuala Lumpur in 2008.
Mohamed Sallauddin currently serves as a Council Member

of the Institute of Marketing Malaysia and is an Executive
Committee Member of PATA Malaysia Chapter as well as
Sector Leader (Airline) for Business Events Council Malaysia.
Nornajihah Ismail Abd Malik Mohd Yunus

General Manager, Finance Business Partner General Manager, Airport Fire and Rescue Service
D at e o f P RE S E NT appoin tment: 1 January 2018 D a te of P RES ENT a p p oi ntm ent: 7 M ay 20 1 2

F EMale 51 Malaysia n M a l e 60 M a l ays i a n

• Diploma in Accounting, Universiti Teknologi Mara (UiTM), • Diploma in Mechanical Engineering, Universiti Teknologi
Malaysia MARA (UiTM)
• Degree in Accounting and Finance, South Bank University, • Master of Science in Emergency Response and Planning,
London, UK Universiti Putra Malaysia
• Master in Business Administration with a concentration in • Graduate Diploma in Airport Management, National
Airport Management, UiTM University of Singapore
• Received the Vice Chancellor Award upon graduation from
UiTM Experience
• Registered Chartered Accountant with the Malaysian Abd Malik was appointed to his current position in 2012. Prior
Institute of Accountants to that, he was General Manager of Airport Rescue and Fire
• Fellow member of the Association of Chartered Certified Fighting at the Ibrahim Nasir International Airport, Maldives.
Accountants, UK
Abd Malik had joined the Airport Fire and Rescue Service
Experience (AFRS) of the Department of Civil Aviation and had headed
Nornajihah joined Malaysia Airports in 2006 as Senior Manager, the AFRS at PEN and KUL.
Finance and was appointed to her current role in 2018.
He was directly involved in the establishment of the AFRS
at KUL during the construction of the airport. He is a
During her tenure with Malaysia Airports, Nornajihah was
certified Green Book Safety Officer from the Department of
General Manager, Finance for Malaysia Airports from
Occupational Safety and Health and was involved in achieving
2010 to 2017 and was also entrusted to cover the role and
OHSAS certification for MA (Sepang) Sdn. Bhd. during his
responsibilities of Chief Financial Officer from September 2015
tenure as a Safety Officer.
to January 2016.
He is also an Exco member of the IMDEMM (The Institution
She was selected for the Khazanah GLC Talent Exchange of Masters in Disaster and Emergency Management Malaysia),
Programme in 2008 and was seconded to Tenaga Nasional the organisation that mainly comprises Emergency Response
Berhad. Prior to Malaysia Airports, she was the Head of Group Personnel to handle the proper mitigation and investigation
Accounts in Padiberas Nasional Berhad. on any emergency response.
Datuk Abdullah Kadir Bacha Lee Ai Vin

General Manager, Stakeholder Relations and Regulatory Affairs General Manager, Corporate Finance and Treasury
D at e o f P RE S E NT appoin tment: 12 December 2017 D a te of P RES ENT a p p oi ntm ent: 1 J UNE 20 1 7

M ale 68 Malaysia n FEM A L E 4 5 M a l ays i a n

• Master’s Degree (MSc) in Information Science, • Bachelor of Business in Accountancy, RMIT, Australia
Loughborough University, UK • Member of the Institute of Chartered Accountants of
England and Wales, the CPA Australia (Certified Practising
Experience Accountant) and the Malaysian Institute of Accountants
Datuk Abdullah initially joined Malaysia Airports in 2014 as
a Consultant on Government Affairs. Later in 2016, he was Experience
appointed as General Manager, Stakeholder Relations & Ai Vin joined Malaysia Airports in 2015 and was appointed to
Regulatory Affairs. Datuk Abdullah has a good mixture of her current position as General Manager of Corporate Finance
government, academia, and private sector experience. and Treasury in 2017.
He served the Government of Malaysia and government-related Prior to joining Malaysia Airports, Ai Vin worked in Transaction
agencies (MDeC, Universiti Utara Malaysia and The International Advisory Services of Ernst & Young LLP London. She has also
Islamic University Malaysia) for a total of 33 years. This included worked in banking and financial advisory sectors in Malaysia
a six-year stint as an aide in the private office of former Prime and Singapore.
Minister of Malaysia, YABhg Tun Dr Mahathir Mohamad.
She has over 20 years of experience in financial and corporate
In the field of information technology whilst serving MDeC he transaction advisory in Asia and Europe covering business
was able to successfully penetrate Middle Eastern Countries valuation, corporate restructuring, capital market fundraising,
through numerous initiatives that he spearheaded. Datuk financial due diligence, loan portfolio review, and merger and
Abdullah brought Malaysian IT Companies and products to acquisitions.
the attention of Middle Eastern Governments especially those
in Saudi Arabia, Iran, UAE, Syria and Lebanon. Many local IT
companies benefitted from his efforts.
Hairuzzaman Sagi Anifruzaidi Ab. Rahim

General Manager, Human Capital Business Partner General Manager, Project Management Office
D at e o f P RE S E NT appoin tment: 17 Apr il 2020 D a te of P RES ENT a p p oi ntm ent: 1 M a rch 20 1 9


• Master’s Degree in Human Resource Management, • Bachelor of Engineering (Hons), University of Liverpool, UK
Universiti Utara Malaysia
Experience
Experience Anifruzaidi joined Malaysia Airports in 2019 with more than
Hairuzzaman joined Malaysia Airports as General Manager of 27 years of experience in construction, airport development
Human Resources Business Partner in 2019. consultancy and airport operations.
Prior to joining Malaysia Airports, he held senior positions in Covering both local and international airport projects he has
experience with various reputable companies including Ranhill
human resources at Sime Darby Plantation Berhad, notably
Bersekutu Sdn. Bhd., Malaysian Japanese Airport Consortium
Head of HR Downstream and Head, HR Upstream Malaysia.
(MJAC), Deutsche AeroConsult GmbH, Malaysia Airports,
Frankfurt Airport GmbH, Leading Edge Aviation Planning
He has assumed various HR roles across different industries
Professional (LEAPP), Hill International and Landrum & Brown.
such as semiconductor manufacturing, oil and gas,
engineering, retail and plantation, covering South East Asia,
Anifruzaidi has been involved in major international airport
Africa and Europe. projects in the fields of project management, Operational
Readiness and Transfer (ORAT), and Facility Management.
He was a member of the Malaysian Employers Federation
Industrial Relations Panel, Malaysian Agricultural Producers
Association Council, NHRS Committee, Panel Member of
the Industrial Relations Court and Panel Member of SOCSO
Appellate Board as well as HRDF Elite 20 Outreach Club.
Mohammad Azmel Harun Rasheed Azrina Abdul Samat

General Manager, Operational Excellence & Guest Experience General Manager, Regulatory Asset Base
D at e o f P RE S E NT appoin tment: 1 January 2021 D a te of P RES ENT a p p oi ntm ent: 4 S ep tem b er 20 1 9


• B.Sc. Industrial Engineering, University of Toledo, Ohio, • Bachelor of Science in Computation, University of
USA Manchester Institute of Science and Technology, UK
• Master of Science in Engineering Management, University
• Professional Certificate in Management, University of
of Warwick, UK
Melbourne, Australia
Experience
Experience Azrina joined Malaysia Airports in 2019. Prior to joining
Malaysia Airports, Azrina held senior positions at Gas Malaysia
Azmel was appointed as General Manager, Operational
Berhad and Tenaga Nasional Berhad. There, Azrina led the
Excellence & Guest Experience in January 2021. He has over transition of the two utility companies to Incentive-Based Tariff
20 years of experience in local and international organisations Regulation (IBR) tariff frameworks which share fundamental
such as PETRONAS, Goodyear and Schlumberger Business similarities with the Regulated Asset Base framework proposed
Consulting. for Malaysia Airports as well as spearheading the unbundling
of Gas Malaysia Berhad for the gas supply industry Third Party
Access (TPA) liberalisation.
He has led various operational improvement projects
and strategic transformation programmes via proven Her 20 years of experience in the energy sector particularly
methodologies such as Lean Six Sigma, Design Thinking and in power and fuel purchase contracts, implementation of
Agile project management. macro policies & pricing for the sector and key stakeholder
engagement to manage regulatory changes complements
Malaysia Airports with the necessary capacity and capability in
Prior to Malaysia Airports, he was employed by Malaysia order to engage various key stakeholders in an environment of
Petroleum Resources Corporation as Vice President of increasing regulatory complexity.
Innovation. He led nationwide industry development
programmes, working closely with industry players and Her 18-year stint at Tenaga Nasional Berhad also showcased
her capability in the area of fuel procurement management
government agencies to develop and market indigenous
primarily in the power sector’s fuel macro policies for natural
technology innovation to solve industry challenges. gas, coal and LNG.
Khor Soon Kheng Vijay Kumar Dayinde

General Manager, IT Architecture and Strategy General Manager IT Delivery
D at e o f P RE S E NT appoin tment: 1 November 2019 D a te of P RES ENT a p p oi ntm ent: 1 D ecem b er 20 1 9

M ale 55 Malaysia n M a l e 4 2 I ND I A N

• Degree in Computer Science and Master of Arts, University • Bachelor of Science – Computer, Nagarjuna University,
of Dublin, Trinity College, Ireland
India
• Chartered Engineer, Engineers Ireland
• Project Management Professional (PMP), Project • Master of Business Administration, Sikkim Manipal
Management Institute, USA University, India
• Master of Computer Applications, Manipal University, India
Experience
Khor Soon Kheng, PMP®, is a Project Management expert, • Master of Science – Mathematics, Osmania University, India
Chartered Engineer, System Engineer & Airport System
Specialist who has successfully delivered seven complex multi- Experience
million/billion airport projects and complex multi-agency Vijay joined Malaysia Airports as General Manager, IT Delivery
Software programs and Railway Communication Systems.
in 2019. Prior to joining Malaysia Airports, Vijay was the Head of
Prior to joining Malaysia Airports, Khor was the Airport Systems Data Science & Solutions, and former Head of IT Development
and Operations Advisor for the Taoyuan International Airport of Celcom Axiata Bhd, Malaysia.
Terminal 3 Project in Taipei, Taiwan.
Vijay is a telecom IT planning, implementation, and operation
He was responsible for the development of a comprehensive
strategy and implementation of the Airport Collaborative specialist with over 21 years of experience. He has served
Decision-Making system, Airport Management System, IATA globally across multiple organisations including both system
Fast Track Initiative, and flights operations related ICT systems. integrators and service providers.
He was also part of the original team that designed and
implemented the Total Airport Management System (TAMS) He also worked across various technologies for fixed and
for KUL back in 1996, a world’s first, fully integrated airport wireless networks. He has been at the epicentre of every
management system which interfaces and integrates the technological shake-up experienced by the communication
majority of ICT systems within the airport, to assure maximum services industry over the last two decades from the Americas
flow of information, providing an efficient and cost effective
operations and management as well as providing enhanced to the Far East.
airport security and greater passenger experiences.
Zulkifli Bashir Nor Aida Othman

General Manager, Aviation Security General Manager, Legal
D at e o f P RE S E NT appoin tment: 16 Mar ch 2020 D a te of P RES ENT a p p oi ntm ent: 1 A p ri l 20 20

M ale 63 Malaysia n FEM a l e 52 M a l ays i a n

• Diploma in Police Science, Universiti Kebangsaan Malaysia • Bachelor of Laws (LL.B Hons), International Islamic University
• Certified International Crime Prevention Specialist Malaysia
• Member of the International Crime Prevention Society • Advocate & Solicitor of the High Court of Malaya
Zulkifli joined Malaysia Airports in 2010 as Senior Manager of Aida joined Malaysia Airports as Senior Manager, Legal in
Aviation Security (Intelligence/Investigation/Liaison). He was 2012. She was previously seconded to Malaysia Airports from
appointed as General Manager of Aviation Security in 2020. Malaysia Airlines from 2010 to 2011 under the Khazanah Cross
Prior to his appointment, he was the Covering General Manger
Assignment Programme. In March 2019, she was seconded
of Aviation Security.
to Malaysia Airports Consultancy Services (MACS) Middle
East, Doha, Qatar as the Senior Manager, Legal to support its
Zulkifli has more than 30 years of law enforcement experience
business operation.
in his illustrious career with the Royal Malaysia Police which
includes serving as the Police Chief of KLIA from 2000 to 2003.
Aida brings with her a wealth of experience particularly in the
aviation industry as prior to joining Malaysia Airports, she has
served 10 years in Malaysia Airlines holding various positions.
Aida has over 25 years of experience as an in-house legal

counsel, serving in Government-Owned and Government-
Linked Companies, as well as public listed companies.
Zawardi Salleh@Mohamed Salleh Ainon Mahat

General Manager, Company Secretarial Acting General Manager, Internal Audit
D at e o f P RE S E NT appoin tment: 1 January 2021 D a te of P RES ENT a p p oi ntm ent: 1 J a nua ry 20 1 9


• Diploma in Public Administration, Universiti Teknologi • Bachelor of Science in Business Administration Computer
MARA (UiTM) Business Information Systems, University of Arkansas,
• Executive Master of Business Administration, UiTM
Fayetteville, USA
• Holder of Practicing Certificate from Companies
Commission of Malaysia • MBA with concentration in Airport Management, Universiti
• Chartered Secretary with The Malaysian Association of Teknologi MARA (UiTM)
Institute of Chartered Secretaries & Administrators • Graduate Diploma in Airport Management, National
University of Singapore
Experience • Certified Internal Auditor
Zawardi joined Malaysia Airports as Senior Manager, Company
Secretarial in October 2018 and was later appointed as • Chartered Member of The Institute of Internal Auditors
Covering General Manager/Company Secretary in June 2019. Malaysia
He assumed his current role as General Manager/Company
Secretary of Malaysia Airports on 1 January 2021. He is also Experience
the Company Secretary of all local subsidiaries of Malaysia Ainon joined Malaysia Airports in 2001 and was appointed to
Airports. her current position in 2019. Prior to this, she held the position
of Senior Manager, Internal Audit with Malaysia Airports.
Zawardi has approximately 25 years of experience in company
secretarial, corporate governance, compliance, and public
practice secretarial service, including 18 years as Company Ainon has close to 25 years of experience in the areas of
Secretary of public listed companies. governance, risk and compliance in the public and private
sectors.
His career journey has brought him to serve companies
in various industries such as oil and gas, shipping, land Prior to joining Malaysia Airports, she had started her career
transportation, automotive, heavy equipment and engineering,
with MIMOS and had subsequently joined Infopro Sdn. Bhd.
construction and property, telecommunication, utilities, and
airport operation. as Quality Assurance Manager.
Mohd Zubir Bin Mohd Meerah Badrul Asri Bin Ahmad

Acting General Manager, Planning, Development, Standard & Acting General Manager, Commercial Operations
Safety
D at e o f P RE S E NT appoin tment: 1 Mar ch 2020 D a te of P RES ENT a p p oi ntm ent: 1 6 Novem b er 20 20


• Bachelor in Civil Engineering (Hons.), University of Malaya • Diploma in Business Studies, Universiti Teknologi MARA
• Master in Business Administration (Aviation), Universiti (UiTM)
Teknologi MARA (UiTM) • Bachelor of Science in Marketing, University of Bridgeport,
• Certified ACI-ICAO International Airport Professional Connecticut, USA
Mohd Zubir joined Malaysia Airports in 1994 and was Badrul was Head of Non-Aero Commercial with MA (Sepang)
appointed to his current position on 1 March 2020. prior to his current position as the Acting General Manager of
Commercial Operations.
He has 27 years of experience in the aviation industry, where he
had overseen the development and maintenance of airports in His experience spans across the financial, insurance and
telecommunications sectors. He had amassed a wealth of
Sarawak and also the management, operations, maintenance
experience during his previous tenure with Syarikat Takaful
and development of the Senai Airport.
Malaysia Berhad and Hong Leong MSIG Takaful.
During his tenure with Malaysia Airports, he was in charge of

His current responsibilities require him to deliver end to end
the operations division, led the technical excellence business
customer experience through innovative business process re-
unit, and provided technical and specialist advice on technical
engineering, operational efficiencies and risk management for
requirements, standard practices and developing technical all MA (Sepang) and MASB commercial operations.
initiatives.
Currently, he is also representing Malaysia Airports in ICAO

Aerodromes Operations and Planning Sub-Group and ACI
Asia-Pacific Regional Operational Safety Committee.
Subsidiaries Senior Management

Malaysia Airports (Sepang) Sdn. Bhd. Malaysia Airports (Sepang) Sdn. Bhd.
Mohd Arif Jaafar Shahrunnizam Abdul Jamil

Senior General Manager, Malaysia Airports (Sepang) Sdn. Bhd. General Manager, Operations KLIA, Malaysia Airports (Sepang)
Sdn. Bhd.
D at e o f P RE S E NT appointmen t: 1 Jan uary 2021 D a te of P RES ENT a p p oi ntm ent: 1 J a nua ry 20 21
G e nde r Age N ation ali ty G end er A g e Na ti ona l i t y

M ale 56 Malaysian M a l e 4 9 M a l ays i a n

• Bachelor’s degree of Science in Human Resource • Corporate Diploma in Airport Management, Universiti
Development, Universiti Putra Malaysia Teknologi MARA (UiTM)
• Graduate Diploma in Aviation and Airport Management, • Bachelor of Science in Horticulture (Landscape), Universiti
National University of Singapore Putra Malaysia
• Accredited International Airport Professional, ACI-ICAO • Landscape Maintenance at Royal Botanical Garden Sydney
Airport Management Professional Accreditation Program and Melbourne, Australia
Mohd Arif joined Malaysia Airports in 1994 and was appointed Shahrunnizam joined Malaysia Airports in 1999 as a senior
to his current role on 1 January 2021. He has almost 27 years executive with MA (Sepang) Sdn. Bhd. and was appointed to
of experience with Malaysia Airports, and has held senior roles his current position on 1 January 2021.
within the Group.
Shahrunnizam had over 20 years of experience working with
This includes Senior Manager of PEN and Terminal Manager of Malaysia Airports, and he had held various responsibilities
KUL. He was also Airport Manager for KBR and IPH, and Head within the organisation. This includes senior positions in
of Security at PEN and AOR. landscaping and grounds beautification at KUL, Formula 1
management at Sepang International Circuit and various
Mohd Arif has also undergone anti-terrorism assistance training landside operations and management roles at KUL.
programme conducted by the Federal Aviation Administration
Prior to joining Malaysia Airports, Shahrunnizam was a
of the United States of America in Oklahoma.
Landscape Construction Manager with Arkitek Jururancang
Malaysia where he was part of the team that contributed to
the completion of KL International Airport in 1998.
Malaysia Airports (Sepang) Sdn. Bhd. Malaysia Airports (Sepang) Sdn. Bhd.
Bibi Sabrena Sakandar Khan Ir Azman Bin Yusuf

Project Director, Client Office KLIA Acting General Manager, Engineering MA (Sepang) Sdn. Bhd.
D at e o f P RE S E NT appoin tment: 1 February 2021 D a te of P RES ENT a p p oi ntm ent: 1 6 Novem b er 20 20

F EMale 43 Malaysia n M a l e 4 8 M a l ays i a n

• Bachelor’s Degree in Engineering (Civil), Universiti • Graduate Diploma in Business Administration, National
Teknologi MARA (UiTM) University of Singapore
• Master’s Degree in Facility Management, Universiti • Degree in Engineering (Civil), Universiti Sains Malaysia
Teknologi MARA (UiTM) • Professional Engineer with Practicing Certificate (PEPC)
• Corporate Diploma in Airport Management (P.Eng), Board of Engineers Malaysia
• Member, The Institution of Engineers, Malaysia (IEM)
• Professional Technologist, Malaysia Board of Technologists
(MBOT)
Experience
Ir. Azman Yusuf is a Professional Engineer with a Practicing
Experience Certificate (PEPC) and a member of the Board of Engineers
Bibi Sabrena joined Malaysia Airports in 2006 and was Malaysia (BEM) and The Institution of Engineers, Malaysia
appointed to her current role as the Project Director, Client (IEM). He holds a Degree in Civil Engineering from Universiti
Office KLIA on 1 February 2021. Sains Malaysia (USM) and a Diploma in Business Administration
from National University of Singapore.
She began her career with Malaysia Airports, and had
shouldered the responsibilities as an Engineer at MA (Sepang) Ir Azman joined Malaysia Airports in 1999 as an Engineer and
Sdn. Bhd., and Senior Manager, Engineering Business was appointed to his current position on 16 November 2020.
Intelligence at Malaysia Airports’ Engineering Division. A man with vast experience in the civil engineering industry,
prior to Malaysia Airports, Ir Azman started his career with a
consultant firm involved in Lebuhraya Pantai Timur (LPT) and
construction company for KL Sentral.
His diverse experience covers almost all professional

engineering services, such as consulting, construction,
operation and maintenance (O&M) and management of
engineering works and projects.
Malaysia Airports Sdn. Bhd. ISG & SGC
Kamaruzzaman Razali Mohammad Nazli Abdul Aziz

General Manager, Malaysia Airports Sdn. Bhd. Executive Director, ISG & SGC
D at e o f P RE S E NT appointmen t: 1 Apr il 2019 D a te of P RES ENT a p p oi ntm ent: 1 J une 20 20
G e nde r Age N ation ali ty G end er A g e Na ti ona l i t y

M ale 57 Malaysian M a l e 54 M a l ays i a n

• Degree in Business Administration, Universiti Teknologi • Bachelor of Building, University of New South Wales,
MARA (UiTM) Australia
• Diploma Business Study, Mara Institute of Technology (ITM) • Chartered Building Professional
• Diploma in Airport Management, National University of
Singapore Experience
• Accredited International Airport Professional, International Nazli joined Malaysia Airports as Senior General Manager,
Civil Aviation Organisation Commercial Services in 2016. Prior to that, he was Senior
General Manager of Commercial and Chief Operating Officer
Experience at KLCC Property Holdings Berhad, where he managed
Kamaruzzaman joined Malaysia Airports in 2000 as Operations top-end commercial real estate and was in charge of the
Executive at KUL. He was appointed to his current position in operations for various development components within the
KLCC precinct.
2019.
Nazli started his career in quantity surveying and project

Prior to this, he held the position of Senior Manager of
management in the property sector. He was also instrumental
Operations for Malaysia Airports Sdn. Bhd., overseeing the
in the initial planning, marketing, and sales of the award-
operations of all airports in Malaysia except for KUL.
winning 2,300-acre Bukit Jelutong mixed development project
– Kumpulan Guthrie Berhad’s maiden foray into property
He was previously the Senior Airport Manager for BKI and development.
also Airport Manager for MYY, KBR and TGG. Kamaruzzaman
started his career with the Department of Civil Aviation (now Nazli was later attached to TDM Berhad, a listed vehicle of
known as CAAM) in 1984, working with the Engineering the Terengganu State Government, overseeing their business
Division at the then Sultan Ismail Airport, Johor Bahru. expansion into the property, F&B and healthcare industries
both in Malaysia and in Southeast Asia.
ISG & SGC ISG & SGC
Zulhikam Ahmad Ahmad Rizal Omar

Deputy CEO/ Head of Corporate Services, ISG & SGC Chief Financial Officer and Head, Strategic Planning & Treasury
Management, ISG & SGC
D at e o f P RE S E NT appoin tment: 1 Jun e 2020 D a te of P RES ENT a p p oi ntm ent: 22 D ecem b er 20 20

M ale 49 SIN GAPOR EA N M a l e 4 5 M a l ays i a n

• Bachelor’s Degree (Hons) in Accountancy, Nanyang • Master of Finance, St Edmund’s College, University of
Technological University, Singapore Cambridge, UK
• Fellow Chartered Accountant of Singapore
• Bachelors of Business Accountancy, Royal Melbourne
Experience Institute of Technology University, Australia
Zulhikam joined Malaysia Airports as General Manager, • Chartered Accountant with the Malaysian Institute of
Malaysia Airports (Niaga) Sdn. Bhd. in 2015. Prior to Malaysia Accountants and The Chartered Accountants of Australia
Airports, he was General Manager of Sales and Operations for and New Zealand
7-Eleven in Malaysia for 5 years, where he had transformed
their operations, profitability and business process across
Experience
more than 2,000 convenience stores. He had also previously
turned around a leading international hypermarket chain in Ahmad Rizal Omar joined Malaysia Airports on 2 January
the Klang Valley. 2018 as General Manager of Financial Planning and Shared
Service. He was Malaysia Airports' covering Chief Financial
Zulhikam started his journey as a graduate trainee with
Officer from 1 February 2019 to 30 December 2019. Prior to his
a leading oil and gas company. In his 12 years with the
organisation, he gained experience through a wide range of appointment, he was the Senior Vice President, Investments at
roles and responsibilities including Finance, Retail Operations, Khazanah Nasional Berhad.
Health, Safety, Security and Environment (HSSE), and Learning
Development across the Asia Pacific, Middle East, and Africa Ahmad Rizal has close to 23 years of working experience in
regions.
investments evaluation and management, corporate finance,
In his last role before his secondment to ISG, he turned and chartered accountancy experience across the Asia Pacific
around the profitability, operations and business process of region with Khazanah Nasional, Axiata Group, Ernst & Young
MA Niaga from 2015 to 2020 through close collaboration with and Telekom Malaysia.
partners, operations excellence, discount management and cost
optimisation measures.
ISG & SGC KLIA AEROPOLIS Sdn. Bhd.
BERK ALBAYRAK Randhill Singh

Covering Chief Executive Officer, ISG & SGC Head of KLIA Aeropolis Sdn. Bhd.
D at e o f P RE S E NT appoin tment: 28 Apr il 2021 D a te of P RES ENT a p p oi ntm ent: 1 J a nua ry 20 21

M ale 50 Tur kish M a l e 4 4 M a l ays i a n

• B.S Civil Engineering, Middle East Technical University, • Bachelor’s Degree in Civil Engineering, University of Malaya
Turkey • Master of Business Administration, University of Malaya
• M.S Civil Engineering, Middle East Technical University, • Certified International Airport Professional
Turkey
Experience
Experience Randhill joined Malaysia Airports in January 2008 and was
Berk joined the company in 2009 as Chief Operating Officer and appointed as the Head of KLIA Aeropolis on 1 January 2021,
was appointed as Technical Services Director in 2018 before overseeing KLIA Aeropolis’ development and real estate
assuming his current position as Covering Chief Executive development across airports in Malaysia including the Subang
Officer. Before that, he served as a Department Manager Airport Regeneration initiative. He is responsible for the
with the joint venture responsible for the construction of the execution of Malaysia Airports’ cross-border joint ventures
International Terminal Building and Apron at SAW. relating to real estate and non-airport development within
Malaysia which includes joint ventures with Mitsui Fudosan,
He had also served in the General Directorate of State Airports Alibaba and Boustead Projects (Singapore).
Authority of Turkey (DHMI) from 1998 till 2007 in various
capacities including as Director of its construction division. Prior to that, he had also undertaken various roles in Malaysia
During his tenure with DHMI, he supervised large construction Airports including Transformation Management, Malaysia
projects at Atatürk Airport, Antalya Airport, Izmir Adnan International Aerospace Centre and Group Corporate
Menderes Airport, Ankara Esenboğa Airport and Siirt Airport. Planning.
A civil engineer by training, Berk started his career as a Site Randhill has been instrumental in crafting the Runway to
Engineer for the Baki Group of Companies. Success 2020, a transformative five-year business direction
which drove the Group’s expansion and diversification into
airport city development and international airport investments.

Malaysia Airports Consultancy Services
Middle East LLC MAB Agriculture-Horticulture Sdn. Bhd.
Ahmad Tarmizi Mohd Hashim Azhar Arshad

Executive Director, Malaysia Airports Consultancy Services General Manager, MAB Agriculture-Horticulture Sdn. Bhd.
Middle East LLC (MACS ME)
D at e o f P RE S E NT appoin tment: 1 February 2016 D a te of P RES ENT a p p oi ntm ent: 1 J une 20 1 8


• Master of Business Administration, Keele University, UK • Masters of Business Administration, University of Victoria,
• Postgraduate Diploma in Airport Management, International Australia
Aviation Management Training Institute, Canada • Member, Incorporated Society of Planters
• Rated Air Traffic Controller
Ahmad Tarmizi started his career as an Air Traffic Controller Azhar joined Malaysia Airports as Manager, MAB Agriculture
with the Department of Civil Aviation (now known as CAAM). Horticulture Sdn. Bhd. (MAAH) in 1998 and was appointed to
He joined Malaysia Airports in 1992 and was assigned as a his current position in 2018. Prior to this, he was the Acting
Project Manager for the KLIA project in 1993. General Manager at MAAH.
He left the company in 1998 to pursue international consulting

jobs in many parts of the world. Some of the companies he Prior to joining Malaysia Airports, he had started his career at
was attached to are XYBASE INC., Omega Alpha Aviation, Sime Darby Plantations in 1988 where he held several positions
TAV Airports Holding and the International Air Transport in Sime Darby Plantations.
Association (IATA).
He also gained hands-on experience when he was posted
Ahmad Tarmizi rejoined Malaysia Airports in 2012 and served
to estates in Peninsular Malaysia focussing on oil palm and
in several senior positions including Technical Director, Senior
Airport Consultant and the General Manager of Malaysia rubber plantations.
Airports Consulting Services. He was appointed to his current
position in 2016 as the Executive Director of Malaysia Airports
Consultancy Services Middle East LLC.
Wtih ove 30 years of experience in the aviation industry,

Ahmad Tarmizi has been involved in more than 40 airport
projects worldwide.
Urusan Teknologi Wawasan Sdn. Bhd. Sama-Sama Hotels KLIA
Nurshuhaila Mohd Amin Sundralingam Kulendra

General Manager, Urusan Teknologi Wawasan Sdn. Bhd. General Manager, Sama-Sama Hotels KLIA
D at e o f P RE S E NT appoin tment: 1 November 2018 D a te of P RES ENT a p p oi ntm ent: 1 6 A p ri l 20 1 9

F EMale 47 Malaysia n M a l e 57 M a l ays i a n

• Master Degree in Business Administration from Open • Diploma in Hotel Management, Ecole Hotelier Les Roches,
University of Malaysia Switzerland
• Degree in Computer Studies, University of Glamorgan, • Master’s Degree in Hotel Management, Université de
Wales, UK Toulouse-Le Mirail, France
• Diploma in Computer Science, Universiti Teknologi MARA
(UiTM) Experience
• Registered Professional Technologist with the Malaysia Sundra was appointed to his current role in 2019. He had
Board of Technologists previously joined the Pan Pacific Hotel in 2011 as Executive
Assistant Manager and was involved in the hotel’s rebranding
Experience
to Sama-Sama Hotel KL International Airport. In 2018, he had
Nurshuhaila was appointed to her current role in 2018. She has
been appointed to lead the hotel as Acting General Manager.
close to 20 years of experience in the Facility Management
industry. Nurshuhaila is an appointed committee member of
Sundra had studied and worked professionally in Switzerland
the Malaysian Association of Facility Management.
for 12 years in various hotels and resorts. He returned to
She has also participated in various Facility Management Malaysia in 1996 and served in a few local hotels before joining
working committees as the industry representative. the Pan Pacific Hotel.
His experience spans a wide range of the hospitality industry

including business operations, development of new products
and services, and process improvement.
Corporate Governance Overview Statement
The Board of Directors of Malaysia Airports (the Board) maintains high level of commitment
to carrying out its oversight roles on the strategic direction, management activity, and
remains dedicated to promoting sound corporate governance practices and a culture of
integrity as well as transparency throughout the Group. The Board believes that good
corporate governance is of utmost importance for charting MAHB Group’s (the Group)
strategic direction and guiding decision-making processes, and to continuously achieving
sustainable long-term value for the stakeholders.
During the year under review, Malaysia Airports upheld ethical conduct, Malaysia Airports had been conferred with,
compliance with the following statutory and regulatory amongst others, the following awards in 2020:
requirements, guidelines, and governance best practices:
• 2019 ASEAN Corporate Governance Scorecard Award &
• Companies Act 2016. ASEAN Asset Class PLCs by Minority Shareholders Watch
• Main Market Listing Requirements (Listing Requirements) Group (MSWG).
of Bursa Malaysia Securities Berhad (Bursa Securities). • Sustainability & CSR Malaysia Award by CSR Malaysia.
• Malaysian Code on Corporate Governance 2017 (MCCG • Malaysia Law Awards 2020, Transportation, and Logistic.
2017). In-House Team of the Year by Asian Legal Business (ALB).
• Corporate Governance Guide 3rd Edition 2017 (CG • International ARC Awards, Non-Traditional Annual Report
Guide) published by Bursa Securities. (Gold) by ARC Awards.
• The Green Book: Enhancing Board Effectiveness by the • International Annual Report Design Awards, IADA 2020
Putrajaya Committee on Government -Linked Companies (Silver) by The International Annual Report Design Awards
(GLC) High Performance. (IADA).
• Minority Shareholder Watch Group (MSWG)’s Malaysia-
ASEAN Corporate Governance Scorecard. We are pleased to present our application and adoption of
• Corporate Disclosure Guide issued by Bursa Securities; the recommendation and practices of MCCG 2017 throughout
and this statement. We hope that the information will assist you to
• Developments in market practice and regulations. understand on how the Board steers the Company, performs
its oversight roles on risk management and internal controls
As recognitions of its consistency and continuous efforts and decisions are made.
in enhancing high standards of corporate governance and
Corporate Governance Framework
Malaysia Airports operates with a clear and effective governance structure. With continuous guidance by the Board, the corporate
governance structure remains robust and effective across the Group. Responsibility for good governance lies with the Board,
and to ensure the effective discharge of its functions and responsibilities, the Board delegates its powers to the relevant Board
Committees and Group Chief Executive Officer [Managing Director] as well as the Management Executive Committee (EXCO). The
Board, in implementing corporate governance, ensures its accountability to the Company’s shareholders and other stakeholders.
Malaysia Airports’ Corporate Governance Framework can be illustrated as follows:
STAKEHOLDERS
BOARD OF DIRECTORS COMPANY SECRETARY
Board Nomination Board Board Finance Board Risk

Board Audit
and Remuneration Procurement and Investment Management
Committee
Committee Committee Committee Committee
(BAC)
(BNRC) (BPC) (BOFIC) (BRMC)
GROUP CHIEF EXECUTIVE OFFICER [MANAGING DIRECTOR]

INTERNAL
AUDIT
DIVISION
MANAGEMENT EXECUTIVE COMMITTEE (EXCO)
The following are key components of Malaysia Airports’ Corporate Governance Framework:
CORPORATE GOVERNANCE FRAMEWORK
TERMS OF
CODE OF ETHICS LIMITS OF
BOARD CHARTER REFERENCE OF
AND CONDUCT AUTHORITY
BOARD COMMITTEES
The Board reviews the above Corporate Governance Framework periodically. The Board also regularly assesses and enhances
its Corporate Governance Framework, practices, and principles to keep abreast with developments in regulatory environment,
international best practices, as well as the Company’s business needs.
PRINCIPLE A : Board Leadership and Effectiveness
Board
The Board is entrusted with the tasks of promoting the success of Malaysia Airports by steering and monitoring its affairs in a
responsible and effective manner. Each member of the Board has a duty to act in good faith as well as in the best interest of
the Group. In discharging its duties and responsibilities, the Board is cognisant of the key roles it plays in charting the strategic
direction of the Group and has assumed the following principal responsibilities in discharging its fiduciary and leadership functions:
• To determine the Company’s long-term direction, formulate business objectives and strategies, including strategies that
promote sustainability.
• To ensure that it has adequate resources to meet its objectives and that it maintains an effective/sound risk management
framework.
• To review and implement the Company’s internal control system.
• To monitor its performance and ensure that it acts ethically in meeting its responsibilities to shareholders and other
stakeholders.
• To decide and approve matters relating to long-term strategy and objectives, capital and operating plans, major investments
and disposals, funding and dividend strategy, as well as quarterly and annual financial results and statements.
Chairman, Group Chief Executive Officer (GCEO) [Managing Director] and Senior Independent Director
To ensure an effective discharge of responsibilities, there is a clear division of responsibilities between the running of the Board,
and the executives responsible for the running of the day-to-day business operations of the Group. This division of responsibilities
helps ensure objectivity between the functions of the Board and Senior Management.
Consistent with Practice 1.3 of MCCG 2017, the positions of Chairman, Senior Independent Director and GCEO [MD] of the
Company are held by different individuals. The distinct and separate roles of the Chairman who heads the Board, Senior
Independent Director who is a point of contact for shareholders and other stakeholders, and GCEO [MD] who leads the Senior
Management ensures a balance of power and authority, which in turn ensures high level of corporate governance and no
individual has unfettered decision-making power. The respective roles of the Chairman, Senior Independent Director, GCEO
[MD], and their division of responsibilities are tabulated below:
Roles of Chairman
DATO’ SERI DIRAJA DR. ZAMBRY ABD. KADIR

Chairman
Lead the Board in setting values and governance - consensus is obtained in Board meetings and when
standards of the Company. necessary, to call for vote.
Maintain a relationship of trust with and between Board Arrange regular evaluation of the performance of the
members. Board, Board Committees and GCEO [MD].
Ensure the provision of accurate, timely and clear Facilitate effective contribution from Board members
information to Directors. and ensure constructive relations be maintained
between them.
Ensure effective communication with shareholders and
other stakeholders. Create the conditions required for the effectiveness
of the Board and individual Directors, both inside
Act as facilitator for meetings to ensure: -
and outside the boardroom including the appropriate
- adequate notice of meetings. balance of power, level of accountability and
- adequacy of information for Board meetings. independent decision making.
- no member dominates the discussion. Lead discussions among Board members.
- full discussion takes place. Build a cohesive leadership team consisting of the
Board and Senior Management.
- variety of opinion among Board members is drawn
out. Delegate responsibilities to other Directors, Board
Committees and Senior Management.
- outcome of discussions results in logical and
coherent policy to guide the GCEO [MD] which the
performance of the Company can be monitored;
and
ROLES OF SENIOR INDEPENDENT DIRECTOR Roles of GCEO [MD]
DATO’ MOHD
DATUK SERI SHUKRIE MOHD
YAM KONG CHOY SALLEH
Senior Independent Director Group Chief Executive
Officer
Serve as a point of contact for shareholders and other Not a member of the Board.
stakeholders to voice their concerns relating to the Lead the day-to-day management of the Group
affairs of the Group. and chairs the EXCO. The EXCO meets regularly to
Chair Board meetings when the Chairman is absent deliberate on matters pertaining to the running and
or fail to arrive within 15 minutes or if the Chairman is managing of the Company and the Group.
required to be excused from the meeting. Responsible for implementing policies, strategies and
Review the notification by the Chairman on acceptance decisions adopted and agreed by the Board.
of new directorship in other companies. Provide a structure that facilitates clear reporting
Lead the Board Performance Evaluation on the to the Board with high quality information and
Chairman. recommendations to enable informed decisions in
all aspects of the Company’s business operations and
Advise the Board if there is any potential conflict of
strategic plan.
interest by the Chairman.
Answerable to the Board for the achievement of the
Perform such duties as the Board may establish; and
agreed goals within the limits of authority granted by
Encourage dialogue session between Independent the Board.
Directors and Senior Management.
Report to and advise the Board on: -
The Senior Independent Director can be contacted via - all matters that materially affect the Company and
e-mail at [email protected]. its performance including any potential strategic
or significant development prospects.
- any underperforming business or activities of the
Company and outline proposals to rectify the
situation; and
- all material matters that affect or could affect
shareholders and the markets in which the
shareholders’ interests are placed.
Regularly review the succession plan for Senior
Management with the Chairman and Board members.
Represent the Company to major customers,
employees, suppliers, and professional associations.
Board Committees
In order to provide effective oversight and leadership, our Board is assisted by five (5) Board Committees. Similar to the Board,
each Board Committee is supported by the Company Secretary and has access to independent advice and counsel as required
for the performance of their duties.
Chairman
BOARD NOMINATION AND
REMUNERATION COMMITTEE (BNRC) Datuk Azailiza Mohd Ahad
Independent Non-Executive Director
Members
Wong Shu Hsien
Non-Independent Non-Executive Director
Datuk Seri Yam Kong Choy
Senior Independent Non-Executive Director
Datuk Zalekha Hassan
Key Functions
Determines criteria for Board or Board Committees’ membership, structure, responsibilities, and effectiveness; reviews the term of
office and performance of the Board, Board Committees, individual Director, and GCEO [MD]; formulates and reviews the policies
and procedures on human resource with regards to recruitment, appointment, promotion, and transfer of Senior Management.
Reviews, assesses, and recommends to the Board, remuneration packages of GCEO [MD], Company Secretary and Senior
Management as well as matters relating to employees of the Group, limited to Collective Agreement for Non-Executives, Terms
and Conditions of Executives, quantum of bonus and annual increment for employees.
Composition
BNRC shall comprise at least three (3) members, all of whom shall be Non-Executive Directors (NEDs) with majority being
Independent Non-Executive Directors (INEDs). Majority of BNRC members currently consist of INEDs.
Chairman
BOARD AUDIT COMMITTEE (BAC) Rosli Abdullah
Members
Wong Shu Hsien
Dato’ Ir. Mohamad Husin
Datuk Azailiza Mohd Ahad
Key Functions
Reviews and evaluates performance of external auditors and Internal Audit Division in ensuring efficiency and effectiveness of the
Company’s operations, adequacy of internal control system, compliance with established policies and procedures, transparency in
decision-making process and accountability of financial and management information. Reviews related party transactions.
Composition
BAC shall comprise no fewer than four (4) members, all of whom are NEDs with majority being INEDs. At least one (1) member
must be a member of the Malaysian Institute of Accountants or possesses the working experience and qualification as prescribed
under Paragraph 15.09(1)(c)(ii) of the Listing Requirements of Bursa Securities.
BAC currently comprises majority INEDs and its Chairman is a member of the Malaysian Institute of Accountants.
Chairman
BOARD FINANCE AND
INVESTMENT COMMITTEE (BOFIC) Datuk Seri Yam Kong Choy
Members
Dato’ Zamzuri Abdul Aziz
Wong Shu Hsien
Dato’ Mohamad Nasir Ab Latif
Key Functions
Reviews and monitors financial investment portfolio of the Group; reviews, evaluates, and assesses prospective investments/
divestments, new businesses, projects, and overseas ventures, taking into consideration factors such as strategic rationale, return
on investment and resource requirements of those prospects, and make appropriate recommendations to the Board.
Reviews and monitors the progress of all capital projects against the approved project schedule and budget to ensure all
deliverables are within schedule and budget. Capital projects include construction of new airports, land development projects
and any other expansion projects for domestic and foreign airports.
Composition
BOFIC shall comprise no fewer than four (4) members and at least one (1) member must be an INED. The composition of BOFIC
currently consists of two (2) INEDs.
Chairman
BOARD PROCUREMENT
COMMITTEE (BPC) Datuk Zalekha Hassan
Members
Ramanathan Sathiamutty
Key Functions
Reviews and approves the Group’s procurement value of above RM10 million up to RM200 million, tender evaluation criteria
and selection tendering methods and list of selected tenderers. Reviews and recommends to the Board any of the Group’s
procurement value of above RM200 million.
Reviews and approves procurement policies, procedures, and limits as well as oversees and monitors the efficiency and
effectiveness of procurement processes, and support of national development objectives.
Composition
BPC shall comprise at least three (3) members made up of both INEDs and Non-Independent Non-Executive Directors (NINEDs).
The BPC currently comprises a majority of INEDs.
Chairman
BOARD RISK MANAGEMENT
COMMITTEE (BRMC) Dato’ Mohamad Nasir Ab. Latif
Members
Rosli Abdullah
Key Functions
Reviews and recommends to the Board on the strategies, framework and policies of the Group in relation to risk management
and compliance framework, occupational safety and health, safety management system, aviation security, information security,
and cybersecurity.
Reviews and recommends to the Board the corporate risk profile, enterprise risk management framework, business continuity
plan, cybersecurity, and IT incident management plan, including relevant insurance, policies, and systems.
Oversees Senior Management’s responsibility in managing risks and ensure that risk monitoring process is in place and functioning.
Composition
BRMC shall comprise at least four (4) members made up of both INEDs and NINEDs. BRMC currently comprises a majority of
INEDs.
The Terms of Reference (TOR) of each Board Committee are available at Malaysia Airports’ website at www.malaysiaairports.com.my.
The summary of the TOR and activities of BAC during the year under review are set out in the BAC Report on pages 189-192 of
this Annual Report.
Except for BAC which reviews its TOR on an annual basis, other Board Committees review their TOR once in two years.
The Chairmen and members of each Board Committee are appointed by the Board. As part of the Company’s corporate
governance practice, during each Board meeting, the Chairmen of the respective Board Committees will brief on the deliberation
and outcome of the Board Committee meetings held prior to each Board meeting. The minutes of the Board Committee meetings
would be tabled to the Board for information. This would enable the Board to provide its comments or views on all deliberations
and decisions of the Board Committees.
Information on Board and Board Committees’ meetings and attendance in 2020
Attendance at the Board Meetings
Throughout 2020, all Board members attended more than 50% of the Board meetings held during the financial year and complied
with Paragraph 15.05 (3)(c) of the Listing Requirements and the provision of the Constitution of the Company. The calculation of
percentage of attendance is based on each Director’s date of appointment.
Board and Board Committee meetings for the following financial year are scheduled in advance before the end of the present
financial year to enable the Directors to plan accordingly and fit the year’s meetings into their schedules. As and when required,
Special Board meetings may be held to consider urgent proposals or matters that require urgent decision or deliberation by the
Board. Special Board meetings are normally held without tabling the minutes or matters arising from previous meetings.
As a permanent agenda of Board and Board Committee meetings, the Directors have a duty to declare should they have any
interest, whether directly or indirectly, on any agenda item or transaction proposed to be entered into by the Company. An
interested Director shall abstain from deliberation and decision making on the said agenda item or transaction. In the event
a corporate proposal is required to be approved by the shareholders, any interested Director shall abstain from voting on the
resolutions relating to the corporate proposals and shall further undertake to ensure that persons connected to them similarly
abstain from voting on the resolutions.
In 2020, there were sixteen (16) Board meetings held, of which six (6) were Special Board meetings. The attendance of Directors
at the Board meetings held during the financial year ended 31 December 2020 is as tabulated below:
Number of Board Meetings attended/held

Directors (during the Directors’ Tenure)
Dato’ Seri Diraja Dr. Zambry Abd. Kadir 1

7 out of 7
Non-Independent Non-Executive Chairman
Tan Sri Datuk Zainun Ali 2

9 out of 9
Non-Independent Non-Executive Chairman
Dato’ Zamzuri Abdul Aziz 3

Non-Independent Non-Executive Director 12 out of 12
(or his alternate, Dato’ Dr. Amiruddin Muhamed)
Dato’ Jana Santhiran Muniayan 4

15 out of 16
Wong Shu Hsien

16 out of 16
Hajah Jamilah Dato’ Hashim 5

12 out of 12
Dato’ Mohamad Nasir Ab. Latif 6

4 out of 4

16 out of 16

16 out of 16
Rosli Abdullah
16 out of 16

16 out of 16

16 out of 16
16 out of 16
Notes:
1. Appointed with effect from 12 August 2020.
2. Resigned with effect from 11 August 2020.
3. Appointed with effect from 10 February 2020.
4. Resigned with effect from 4 January 2021.
5. Resigned with effect from 30 September 2020.
6. Appointed with effect from 1 October 2020.
Attendance at Board Committee Meetings
The attendance of members at the Board Committee meetings held during the financial year ended 31 December 2020 is as
detailed below:
Director BAC BNRC BOFIC BRMC BPC
Non-Independent Non-Executive Director Attendance
Dato’ Zamzuri Abdul Aziz 1 - - 5/5 - 9/10

(or his alternate, Dato’ Dr. Amiruddin Muhamed)
Dato’ Jana Santhiran Muniayan 2 - - - 5/5 -
Wong Shu Hsien 7/7 8/8 6/6 - -
Hajah Jamilah Dato’ Hashim 3 - - - 4/4 9/9
Dato’ Mohamad Nasir Ab. Latif 4 - - - 1/1 -
Datuk Seri Yam Kong Choy - 8/8 6/6 - -
Datuk Zalekha Hassan - 8/8 - 5/5 12/12
Rosli Abdullah 7/7 - - 5/5 -
Dato’ Ir Mohamad Husin 5 7/7 - 1/1 - 12/12
Datuk Azailiza Mohd Ahad 7/7 8/8 6/6 - -
Ramanathan Sathiamutty 6 - - 1/1 5/5 10/10
Number of meetings held in financial year 2020 7 8 6 5 12
Notes:
1. Appointed as Member of BOFIC and BPC with effect from 28 February 2020.
2. Resigned as Member of BRMC with effect from 4 January 2021.
3. Resigned as Chairman of BRMC and Member of BPC with effect from 30 September 2020.
4. Appointed as Chairman of BRMC and Member of BOFIC with effect from 30 November 2020.
5. Resigned as Member of BOFIC with effect from 28 February 2020.
6. Appointed as Member of BPC with effect from 28 February 2020 and resigned as Member of BOFIC with effect from
28 February 2020.
Activities performed by the Board and Board Committees during the financial year ended 31 December 2020 include:
Main Board/Board Committees Main Areas of Oversight Activities

Board The Board is responsible for the Sixteen (16) meetings were held in 2020
• Comprises ten (10) members of whom following: to deliberate, amongst others, on the
six (6) are INEDs following:
• Overall strategy, vision, values, and
governance framework of the Group. • Malaysia Airports’ Group Budget.
• The Company’s Annual Audited • Malaysia Airports Group 5-Year
Financial Statements and Quarterly Strategy and Transformation Plan.
Financial Statements. • Cumulative full year results for the
• Approval of payment of dividend and financial year ended 31 December
the Company’s dividend policy. 2019 and approve the Directors’
• The Group’s annual budget and any Report and Audited Accounts for the
amendment to allocation, borrowing financial year ended 31 December
and security, acquisitions and 2019.
disposals of tangible/non-tangible • Quarterly Result Announcements.
assets and capital expenditure over a • Group performance and capital
specified amount. expenditure.
• Company’s long-term financial plan • Group’s strategy including airport and
and annual capital expenditure business expansion plan.
programme. • Corporate Risk Profile.
• Approval of any significant change in • Malaysia Airports Cash Recovery
accounting policies and practices. Program.
• Approval of all circulars, resolutions • Revision of Internal Policies.
and corresponding documentation • Change of Limit of Authority.
sent to stakeholders. • Big Data Analytics and Digital Moving
• Approval of changes in the capital Forward Strategy.
structure of the Company with • Corporate Scorecard and Key
regards to issuance or allotment of Performance Indicators (KPIs) of the
shares or other securities, or its status Senior Management for 2020 and
as a public listed company. 2021.
• Appointment or removal of the GCEO • Board Performance Evaluation for
[MD] and the Company Secretary. 2019 as well as review the Board
• Recommendation to shareholders for Improvement Plan.
the appointment, re-appointment, or • Major litigation claims and issues with
removal of the external auditors. substantial financial impact.
• Appointment, re-appointment, • Updates on stakeholder
or removal of Directors and communications and engagement
recommendation for re-election prior strategy.
to tabling to shareholders during
Annual General Meetings.
• Approval for establishment of Board
Committees, their terms of reference,
review of their activities and where
appropriate, ratification of their
decisions.

Board Nomination and Remuneration BNRC is responsible for the following: Eight (8) meetings were held in 2020
Committee (BNRC) to deliberate, amongst others, on the
• Comprises four (4) members of whom • Composition of Board, Board following:
three (3) are INEDs Committees and Boards of
subsidiaries. • Composition of Board, Board
• Review and implement Board Committees and Boards of
Performance Evaluation. subsidiaries.
• Review Succession Planning for • Board Performance Evaluation.
Board, Board Committees, GCEO • Review the Board Improvement
[MD] and Senior Management. Plan, Directors trainings and Board
• Review the Malaysia Airports Group’s Governance matter.
overall organisational structure. • Remuneration of Board, GCEO and
• Review remuneration packages and Senior Management.
benefits for the Directors, GCEO • Establishment of Senior Management
[MD] and Senior Management. positions.
• Review Malaysia Airports’ Corporate • Corporate Scorecard and Senior
Scorecard and Key Performance Management KPI setting.
Indicator (“KPI”) for CEO [MD] and • Board and Board Committee
Senior Management. Succession Plan.
• Review and approve matters • Senior Management Succession Plan.
relating to employees of Malaysia
Airports Group, limited to Collective
Agreement for Non-Executives,
Terms and Conditions of Executives
and staff bonus and annual salary
increment.

Board Audit Committee (BAC) BAC is responsible for the following: Seven (7) meetings were held in 2020
• Comprises of four (4) members of to deliberate, amongst others, on the
whom three (3) are INEDs • Review the quarterly results and following:
year-end financial statements of the
Company and the Group prior to • Review of Board Audit Committee
submission to the Board. Report and Statement on Risk
• Review and monitor the financial Management and Internal Control for
position and performance of the Annual Report 2019.
Group. • Review of quarterly results and
• Recommend to the Board the financial statements for financial year
appointment of the external auditors, ended 31 December 2019 of the
the audit fee and any questions of Group.
resignation or dismissal. • Review of performance of subsidiary
• Annual evaluation of the external companies.
auditors’ performance to ensure • Revision of Terms of Reference Board
continued independence, objectivity, Audit Committee.
and quality of audits. • Internal Audit Plan 2020.
• Oversee the internal audit functions, • Internal Audit Activities Progress
direct any special investigations 2020.
to be carried out by the Internal • Internal Audit New Reports.
Audit Division and consider major • Follow Up Audit Activities –
findings of internal investigations and Outstanding Issues.
management’s response. • Revision of Internal Audit Charter.
• Review and approve any related party • Corporate Integrity Division Plan
transactions and conflict of interest 2020 and Corporate Integrity Division
situation that may arise including Activity Report.
any transaction, procedure or course • Revision to Terms of Reference of
of conduct that raises questions of Corporate Integrity Division.
integrity. • Report on Integrity Assessment and
• As an oversight of the whistleblowing Integrity Plan Gap Analysis.
programme. • Related Party Transactions.
• All matters pertaining to ethics, • Performance Report on Anti-Bribery
integrity, corruption, abuse of power Management System.
and other scope covered under • Status Update on Whistleblowing
the MACC Act 2009 (including Programme.
but not limited to that dealt with/ • Appointment of New Whistleblowing
by Whistleblowing Independent Independent Committee Member.
Committee) shall be reported to BAC • Revision of Whistleblowing Policy.
via Corporate Integrity Division. • Overall Big Data Analysis Project
• Assess the internal process for Status and Key Findings.
determining and managing key risks. • Performance on Adequate Procedure
• Review the Statement of Risk for Prevention of Corruption.
Management and Internal Control • Corruption Risk Management Report.
prior to submission to the MAHB • Organisation Anti-Corruption Plan
Board. Initiatives.
• Audit Plan 2021.

Board Finance and Investment BOFIC is responsible for the following: Six (6) meetings were held in 2020 to
Committee (BOFIC) deliberate, amongst others, on the
• Comprises five (5) members of whom • Review and monitor the financial following:
two (2) are INEDs investment policy and portfolios of
the Group. • Land Development at KLIA Aeropolis
• Review, evaluate and assess and Subang Airport.
prospective investments/ • Operationalisation of Digital Free
divestments, new businesses, Trade Zone.
projects, and overseas ventures. • Concession of Gas District Cooling
• Review and monitor the progress of all Plant in KL International Airport.
capital projects against the approved • Aviation Development Support
project schedule and budget. Programme.
• Review and monitor the performance • Group’s Limits of Authority.
of the overseas ventures. • Performance Review of Overseas
• Review the Limit of Authority. Ventures.
• Oversee current and future capital • Performance of Local Investment
and financial resource requirement. Portfolio.
• Terms of Reference of BOFIC.
Board Procurement Committee (BPC) • Review and recommend any Twelve (12) meetings were held in 2020
• Comprises four (4) members of whom changes to the Procurement Policies, to deliberate, amongst others, on the
three (3) are INEDs Procedures & Guidelines to the following:
Board, e.g., Procurement Financial
Limit of Authority, Tender Procedure, • Development of Digital Free Trade
Tender Evaluation Criteria. Zone.
• Review and approve procurement • New Aircraft Parking Apron.
plan/mode and tendering method • Rehabilitation works of Runway 1.
for procurement value above RM10 • Replacement Plan Track Transit
million to RM200 million. System.
• Recommend to the Board on award • Baggage Handling System.
of tender above RM200 million. • Airport Collaborative Decision
• Review and approve extension of Making.
time (EOT) of projects. • Single Token Solution.
• Approve the appointment of • Airport Integrated Security and Safety
consultants above RM3 million and System.
up to RM10 million. • Toilet Facelift and Other Associated
Works to Existing Passenger Toilets.
• Development of Airport Master Plan
for Sultan Abdul Aziz Shah Airport.
• Tenancy of Retail/Service Outlets.
• Rental Relief and Remedies for Airport
Business Operations and the Fast-
Track Commercial Reset International
Airport Tenants.
• Review on Procurement Plan.

Board Risk Management Committee BRMC is responsible for the following: Five (5) meetings were held in 2020
(BRMC) to deliberate, amongst others, on the
• Comprises of four (4) members of • Provide guidance to Senior following:
whom three (3) are INEDs Management to ensure effective risk
management systems are in place. • Business Continuity Management Plan.
• Review and recommend to the Board • Corporate Risk Profile 2020.
on the strategies, framework, and • Statement on Risk Management and
policies of the Group in relation to Internal Control.
risk management and compliance, • Occupational Safety & Health.
occupational safety and health, • Corporate Quality Management.
safety management, aviation security, • Airport Standard & Safety.
information security and cyber • Aviation Security.
security. • Compliance with Malaysian Aviation
• Review and recommend to the Commission’s Quality of Service at KL
Board the Corporate Risk Profile, International Airport.
Enterprise Risk Management • KLIA Network Disruption and
Framework, Business Continuity Mitigation Actions.
Plan, Cybersecurity, and IT Incident • Impact of COVID-19 to MAHB Group
Management Plan, including relevant and Risk Mitigation Initiatives.
insurance, policies, and systems. • Insurance Renewal for MAHB Group.
• Terms of Reference of BMRC.
Board Composition On 10 February 2020, Malaysia Airports welcomed YBhg. Dato’

Zamzuri Abdul Aziz, a representative of MOF Inc. to the Board.
The Board currently comprises five (5) NINEDs and six (6) INEDs. Thereafter, on 11 August 2020, the Company bade farewell to
The current Board composition complies with the provision YBhg. Tan Sri Datuk Zainun Ali who resigned as Chairman and
of the Company’s Constitution and exceeds the minimum welcomed YB. Dato’ Seri Diraja Dr. Zambry Abd. Kadir who was
requirement one-third for INEDs as set out in the Listing appointed on 12 August 2020 as the new Chairman of the Board,
Requirements of Bursa Securities. The Board composition also representing MOF Inc. On 30 September 2020, Hajah Jamilah
complies with Practice 4.1 of MCCG 2017 that recommends Dato’ Hashim resigned from the Board as a representative of
board composition of Large Companies, as defined by MCCG KNB, and YBhg. Dato’ Mohamad Nasir Ab. Latif was appointed
2017, comprises majority INEDs. The Directors’ profiles are as a representative of EPF on 1 October 2020. Malaysia Airports
available on pages 121-132 of this Annual Report. also bade farewell to YBhg. Dato’ Jana Santhiran Muniayan, a
representative of MOF Inc. from Ministry of Transport (MOT),
The composition of the Board fairly reflects the interest of the who resigned from the Board on 4 January 2021 and welcomed
Government through the Minister of Finance (Incorporated) Puan Normah Osman on 26 April 2021. Puan Normah Osman is
(MOF Inc.), the Special Shareholder, which is adequately a representative of MOF Inc. from MOT.
represented by the appointment of their nominees on the
Board without compromising the interest of other shareholders, The Board regularly reviews its composition and the
including the minority shareholders. Currently, one (1) of the composition of the Board Committees to ensure appropriate
NINEDs is a nominee director from Khazanah Nasional Berhad balance as well as relevant skills and experience are present at
(KNB), the major shareholder of the Company. Another NINED all times. In conclusion, the Board and Board Committees are
is a nominee director from Employees Provident Fund (EPF), satisfied with their existing composition and are of the view
another major shareholder. The INEDs on the Board represent that, with the current mix of skills, knowledge, experience and
the minority shareholders’ interest and their independent voice strength of the existing Directors, the Board and respective
carry significant weight in the Board’s decision-making process. Board Committees are able to discharge their duties effectively.
shall retire by rotation at each Annual General Meeting (AGM).

A director who is newly appointed during the year shall retire
at the AGM following his or her appointment.
The Board, via BNRC, reviews the performance of Directors

6 Board 5 who are subject to re-election or re-appointment at the AGM
INEDs Composition NINEDs by giving due regard to his or her performance and the ability
to continue to contribute to the Board in terms of knowledge,
skills, and experience. The Board submits its recommendation
to the shareholders on the re-election or re-appointment at
the AGM for approval thereof.
At the forthcoming 22nd AGM of the Company, the Directors

Nomination and Appointment of Directors who have been the longest in office and subject to re-election
are YBhg. Dato’ Ir. Mohamad Husin, YBhg. Datuk Azailiza
The nomination and appointment of Directors is a vital process Mohd Ahad, and Mr. Ramanathan Sathiamutty, whilst the
as it determines the Board composition and the quality newly appointed Directors who are subject to re-election are
and competency that each member brings to the Board. YB. Dato’ Seri Diraja Dr. Zambry Abd. Kadir and YBhg. Dato’
In this relation, BNRC is entrusted by the Board to review Mohamad Nasir Ab. Latif and Puan Normah Osman.
candidates for new appointments to the Board and determine
the criteria for the selection of new Director. In making its Balance, Diversity and Skills
recommendation, BNRC will consider the following criteria in
the selection of candidates: The Board believes that a balance of experience, skills,
competency, expertise, diversity, and knowledge are the
• Skills, knowledge, competencies, expertise, and experience. key elements for introducing different perspectives into the
• Professionalism. Boards’ discussions and to ensure better analysis of risks and
• Integrity. opportunities in leading a long-term sustainable business.
• Diversity. With such balance, our Board ensures the continuity of
• Commitment, contribution, and performance; and effective oversight and informed decision making with respect
• In the case of candidates for the position of INEDs, the to issues affecting the Company.
BNRC will also evaluate the candidate’s ability to discharge
such responsibilities or functions as expected of the INEDs. The Board considers the diversity in gender, age, and
ethnicity of the existing Board members in seeking potential
The Board leverages on its members’ networks, shareholders’ candidate(s) for new appointment on the Board. This helps
recommendation, and industry database to source for potential to ensure an appropriate balance between the experienced
candidates for appointment to the Board. A list of potential perspectives of the long-term Directors and new perspectives
candicates of INEDs is maintained and regularly reviewed by that bring fresh insights to the Board.
BNRC. To ensure a structured approach in appointment of
INEDs, the Company adopts a Framework for Appointment Malaysia Airports has always been supportive of the MCCG
of Independent Non-Executive Directors which provides step 2017’s recommendation that Large Companies should have
by step procedures from the point of nomination up to the at least 30% Women Directors. Currently, the Board has
appointment of the INEDs. representation of four (4) Women Directors out of the total of
eleven (11) Directors which make up exactly 30% of the Board
Re-election and Re-appointment of Directors composition. A Board Gender Diversity Policy has also been
established since 2018 where it is provided that the Board will
In determining the Directors for retirement and re-election, maintain at least three (3) Women Directors at all times and
one-third of the Directors, or a number nearest to one-third, the minimum 30% Women Directors as members of the Board
who have been the longest in office since their last election at all times.
The gender diversity philosophy is cascaded from the Independent Directors and their Tenure
Board level to the key operational management throughout
the Group. The Company will continue to take steps to The Board has established an independence standard to be
promote diversity, including gender diversity, at operational met by the INEDs where it considers “independence” to be
management level and strive to inculcate a working a matter of individual judgment and conscience. A Director is
environment which is free from discrimination. The policy on independent only when he or she is free from any business or
diversity is also implemented in the Group’s recruitment and other relationship that might interfere with the exercise of his
promotion processes. or her independent judgment.
Whilst having regard to gender diversity, the Board also In 2020, BNRC carried out a review of the Director’s
recognises that diversity should also be considered from independence. It concluded that each of the six (6) INEDs
other aspects such as cultural background, industry expertise, were independent and had carried out their duties in an
international and regional exposures. objective and professional manner. The Board was satisfied
that the INEDs had represented the interest of the minority
shareholders as required from them by virtue of their roles and
responsibilities. The Board will continue to monitor and review
whether there are any conflicting interests, relationships or
circumstances that could potentially affect their independence.
7 Gender 4 The following provisions are incorporated in the Board Charter

Male Diversity Female to support objective and independent deliberation, review,
and decision-making process of the Board:
• The Board should include an appropriate composition

of NINEDs and INEDs so that no individual or group of
individuals can dominate the Board’s decision-making
process.
Range (Age) in 2020 No of Directors • INEDs shall provide independent judgement, experience,
and objectivity without being subordinated to operational
40-49 1
considerations; and
50-59 5 • The views of the INEDs should carry significant weight in
60-69 5 the Board’s decision-making process.
Total 11
The Board undertakes that the rights of minority shareholders
shall not be impaired in any manner and that the number and
Board Members’ Ethicity strength of INEDs are adequate to promote the independence
of the Board and to safeguard the rights of the minority
8
shareholders.
7
6 The independence of the Directors is determined in
5 accordance with the independence criteria in Paragraph
4 1.01 of the Listing Requirements. In 2020, all the six (6) INEDs
3 satisfied the independence criteria.
2
The MCCG 2017 provides a cumulative term of nine (9) years
1
as a limit for the tenure of an INED, after which the Company
0 may either seek the shareholders’ approval for the Director
Malay Chinese Indian
to continue on the Board as an INED, or the Company may
re-designate the said Director as a NINED. However, the Board, the balance and composition of the Board, the Board’s
Company’s Board Charter provides that the tenure of INEDs authorities, schedule of matters reserved for the Board, the
shall not exceed a cumulative term of nine (9) years or an age establishment of the Board Committees, processes, and
of 75 years old, whichever is earlier. To date, none of the INEDs procedures for convening Board meetings, the Board’s
of the Company have served more than nine (9) years or attain assessment and review of its performance, compliance with
the age of 75 years. ethical standards, Board’s access to information and advice,
and the requirement for declaration of interest.
Tenure of INEDs The Board Charter is available on the Company’s website at

www.malaysiaairports.com.my.
3
Ensuring Quality of Information
2 The Chairman takes responsibility for ensuring that the

Directors receive accurate, timely and clear information with
regards to the Group’s financial and operational performance
1 as well as information contained in proposal papers submitted
to the Board and Board Committees. This emphasis on quality
information will enable the Board to make sound decision and
0 provide the necessary advice to Management. To ensure the
0 to 3 >3 years to >6 years to
years 6 years 9 years Board has sufficient time to read and digest the contents of
any of the papers, all Board and Board Committee papers are
issued and submitted electronically to the Board and Board
Director’s Commitment Committees in advance prior to the scheduled meetings.
The Company Secretary assists the Chairman to ensure that
The Board recognises it is important for all Directors to be the process of disseminating all Board papers and other
able to dedicate sufficient time to the Company in discharging information is always effective and reliable.
their responsibilities. Therefore, all Directors are expected
to commit their time to the Company. With regards to Under the current practice, notices of Board and Board
external appointments, the Board Charter provides that Committee meetings are issued to the Directors and Board
all Board members shall notify the Chairman of the Board Committee members as well as all individuals invited to attend
before accepting any new directorships. This shall include an the meetings at least 14 days from the date of the meetings.
indication of time that will be spent on any new appointment. The Company endeavours to ensure that the Board papers
In addition, the Board reviews the contributions from the are circulated to all Board members and Board Committees at
Directors annually and whether they are spending sufficient least five (5) business days in advance to ensure that Directors
time in performing their responsibilities as members of the are provided with sufficient time to prepare for board meetings
Board. At present, in compliance with Paragraph 15.06 of the and to facilitate robust discussions.
Listing Requirements, no individual Board member has more
than five (5) directorships in listed issuers at any one time. Induction and Continuous Professional Development
Board Charter The Company Secretary ensures the Directors’ continued

development by facilitating induction programme of new
The Board Charter provides guidance to the Board for the Directors, arranging internal training programme, and
performance of its roles and responsibilities. Incorporated coordinating Directors’ attendance of external training
in the Board Charter are the roles and responsibilities of the programme for existing Directors.
Other than the Mandatory Accreditation Programme as During the year under review, Directors have attended
required by Listing Requirements of Bursa Securities, newly continuous professional development programme covering
appointed Directors will receive a comprehensive induction various topics ranging from governance, changes in statutory
briefing designed to familiarise themselves with the Group’s and regulatory requirements and industry trends. In order
businesses and operations, including the major risks faced to equip the Directors with specific knowledge relating to
within the Company’s business as well as an overview of the the operations of the Group, the Directors also attended
Company’s compliance with corporate governance best familiarisation programme on airport operations and aviation
practices. The Directors are also encouraged to attend that were intended to enhance their deliberations on matters
continuous professional development programme to brought to Board and Board Committee meetings. Collectively,
ensure they keep abreast with the latest developments and the Board members spent eighty-seven (87) days for attending
legislations in the relevant areas in discharging their duties and and participating in trainings during the year under review.
responsibilities. A dedicated budget for Directors’ training is
provided each year by the Company.
The following is a summary of training courses attended by Directors:
List of Training Attended Duration in day(s)

Leadership and Strategy
• Courage Talk Leadership Series: Purposeful Leadership in Times of Crisis 1
• Climate Action: The Board’s Leadership in Greening the Financial Sector 1
• Working from Home Experience - Preferences & Sentiments 1
Management and Business
• Malaysia Budget 2021 Review 1
• Multi Sector Real Estate Market Outlook 1
• New Generation Patrol Craft (NGPC) and Offshore Patrol Vessel (OPV) Ship Construction Project 1
Finance
• Financial Institutions Directors’ Education (FIDE) Core Module ‘A’ for Banks 9
• Islamic Finance for Board of Directors and Senior Management 2
• Program Ministerial Talk Series with Deputy Minister of Finance 1 1
• Islamic Finance for Board of Directors 1
• Financial Institutions Directors’ Education (FIDE) Core Programme Module ‘B’ for Banks 5
IT Strategy & Governance
• Digital Economy & Market Outlook 1
• Information Security Awareness 1
Accounting and Audit
• Malaysian Financial Reporting Standards (MFRS) - Accounting & Tax Updates 1
• Financial COVID-19 Impact and Reporting 1
• MPSAS 26 Impairment of Cash Generating Assets 1
• ISA540 (Revised): An Illustrated Guide to Implementing Auditing, Accounting Estimates and Related 1
Disclosures
• Audit Committee Conference 2021 2
List of Training Attended Duration in day(s)

Governance and Integrity
• Awareness Session on Anti-Corruption 1
• Anti-Money Laundering and Counter Financing of Terrorism 1
• Anti-Bribery and Corruption 1
• Fraud and Financial Scandals: Trends, Red Flags, and Mitigations 1
Regulatory and Legal
• Mandatory Accreditation Programme for Director of Public Listed Companies in Malaysia 3
• Enlightenment on the Syariah Resolutions issued by Syariah Advisory Council of Bank Negara Malaysia 1
(BNM) 2020
• Key Disclosure Obligations of a Listed Company 1
• Section 17A Malaysian Anti-Corruption Commission (MACC) - Anti-Bribery & Corruption - Policy & 1
Procedures Training
• Corporate Liability in Compliance with Section 17A MACC Act 2009 1
Airport/Aviation
• Walkabout and Familiarisation on Operations of KLIA Baggage Handling System 1
• Visit and Familiarisation on the Operations of Kuala Lumpur Air Traffic Control Centre 1
• Operating Agreement (OA) Mini Workshop 1
Procurement
• Procurement Contract for Six (6) Ship Second Generation Patrol Vessel 2
• Implementation of Policy for the Use of Local Goods in Government Procurement 3
Property and Development
• COVID-19 & its Impact in Managing Tax Concerns for Property Developers 1
• Property Developers versus Inland Revenue Board 1
• Master of Real Estate Program - Overview of Malaysia Real Estate 1
• Post COVID-19 Strategic Plan for Construction Industry: Challenges and Solution 1
• Tenancies, Leases, Other Land Transactions & Caveats 1
• BMS Webinar on Current Developments & Opportunities in Property Investment in the UK & Malaysia 1
• Malaysia Webinar Series: The Role of Infrastructure in Economic Recovery 1
Risk Management
• Governance and Risk - An Uncertain World. A Riskier Landscape 1
• The New Normal, Impact of COVID-19 on Oil and Gas and Future of Renewable Energy 1
• Recovery and Resolution Plan 1
• Impact of COVID-19 on the Aviation Industry 1
Operational Excellence/Process Improvement
• Lean Six Sigma (LSS) Journey & Project Walkthrough 1
Time spent on training in 2020:
Directors Time Spent (day)

Dato’ Seri Diraja Dr. Zambry Abd. Kadir 7
Dato’ Zamzuri Abdul Aziz 11
Wong Shu Hsien 7
Dato’ Mohamad Nasir Ab. Latif 23
Datuk Seri Yam Kong Choy 17
Datuk Zalekha Hassan 3
Rosli Abdullah 8
Dato Ir. Mohamad Husin 6
Datuk Azailiza Mohd Ahad 3
Ramanathan Sathiamutty 2
Dato’ Dr. Amiruddin Muhamed 12
(Alternate Director to Dato’ Zamzuri Abdul Aziz)
Board Performance Evaluation (BPE) The BPE framework is reviewed periodically to ensure
that the relevant analysis is able contribute to the Board’s
The Company’s BPE is implemented via Evaluation overall effectiveness and is part of an ongoing effort to drive
Questionnaires which has been developed as tools to evaluate continuous effectiveness of the Board and Board Committees.
the Board, Board Committees, and individual Directors
covering the following areas, among others: Company Secretary
• Board Composition. The Company Secretary has the prescribed qualification to act
• Board’s Roles and Functions. as secretary under the Companies Act, 2016. He is equipped
• Information Management. with the skills and expertise to provide sound governance
• Monitoring Company Performance. advice and ensure adherence to the relevant policies and
• Board Priorities. procedures with regards to corporate governance issues,
• Corporate Governance and Ethics. corporate secretarial and compliance matters. The Directors
• GCEO [MD] Performance Evaluation and Succession Plan. have direct access to the advice and services of the Company
• Directors’ Development. Secretary.
• Risk Management.
• Board Committee Evaluation; and The functions of the Company Secretary are as follows:
• Directors’ self/peer evaluation.
• Responsible for advising the Directors of their duties,
The strength and weaknesses identified from the evaluation responsibilities, and obligations to disclose their interest in
will be presented to BNRC for recommendation to the Board. securities, prohibition on dealing of securities during the
The Board will further deliberate the findings of the BPE and closed periods, restriction on disclosure of price sensitive
views of each Board member, of which the findings would be information, disclosure of any conflict of interest and
used as a yardstick to measure the effectiveness of the Board. related party transaction as well as disclosure of necessary
This will form the basis to formulate a Board Performance information as required under the relevant legislations.
Improvement (BPI) Plan for the following year. • Advise the Board on its responsibilities to disclose material
information to the shareholders and financial markets on a
timely basis.
• Ensure high standard of corporate governance by keeping • Visit and Familiarisation on the Operations of Kuala Lumpur
abreast of the latest development in corporate governance Air Traffic Control Centre organised by MAHB.
and changes in the legal and regulatory framework. • MFRS - Tax Updates and Accounting Considerations of
• Attend all Board, Board Committee, and Shareholder COVID-19 organised by MAHB.
meetings and ensure that all meetings are properly • Courage Talk Leadership Series: Purposeful Leadership in
convened, and proceedings of the Board, Board Times of Crisis organised by MAHB.
Committee, and Shareholder meetings and decisions • Anti-Corruption Awareness organised by MAHB.
thereof are properly recorded. • Walkabout and Familiarisation on the Operations of KLIA
• Monitor compliance with the principles and Baggage Handling System organised by MAHB.
recommendations of MCCG 2017 and inform the Board of
any non-compliance. Board Remuneration
The Company Secretary constantly keeps himself abreast The Board remuneration structure is reviewed by
and educated on the changes and developments in statutory benchmarking the Chairman and the Directors’ remuneration
and regulatory requirements, corporate governance and against peer companies, locally and regionally, to be more
sustainability through continuous education and training. The competitive to attract and retain NEDs and commensurate
training programme attended by the Company Secretary in with the responsibilities and duties of the Board and Board
the financial year 2020 are as follows: Committees. This will in turn ensure the Board continues
to provide the necessary oversight roles and mentoring
• Discovering the Technical and Practical of Beneficial out of the skills and experiences required for the effective
Ownership Framework under Companies Act 2016 by management and operations of the Group. The calibre of the
MAICSA. Board members serving the Company is essential in upholding
• MCCG 2017: The “Step Up” Practices by MAICSA. the high standards of corporate governance practised by the
• Corporate Governance Case Studies by MAICSA. Company.
• Everything About Dividend by MAICSA.
The Chairman and other Board members received the following fees for the financial year ended 31 December 2020:
1. MAHB
No. FEE CHAIRMAN NON-EXECUTIVE DIRECTOR
1. Directors’ Fee Monthly: RM18,000 Monthly: RM12,000

Annually: RM216,000 Annually: RM144,000
2. Meeting Allowance
2.1 Board Meeting RM5,000/meeting RM3,000/meeting
2.2 Board Committee Meeting RM4,000/meeting RM2,000/meeting
3. Senior Independent Director Allowance Monthly: RM1,000

Annually: RM12,000
2. Subsidiaries of Malaysia Airports

Directors’ Fee
1. Malaysia Airports Sdn Bhd
2. Malaysia Airports (Sepang) Sdn Bhd
3. Malaysia Airports Consultancy Services Sdn Bhd
4. Urusan Teknologi Wawasan Sdn Bhd
5. Malaysia Airports (Niaga) Sdn Bhd
Monthly: RM4,000 Monthly: RM3,000
6. K.L. Airport Hotel Sdn Bhd Annually: RM48,000 Annually: RM36,000
7. MAB Agriculture-Horticulture Sdn Bhd
8. KLIA Aeropolis Sdn Bhd
9. Malaysia Airports International Sdn Bhd
10. Istanbul Sabiha Gökçen International Airport (ISG) and
SGC Airport Operations Trade and Tourism Inc. (SGC)*
Meeting Allowance
1. Malaysia Airports Sdn Bhd
2. Malaysia Airports (Sepang) Sdn Bhd
3. Malaysia Airports Consultancy Services Sdn Bhd
4. Urusan Teknologi Wawasan Sdn Bhd
5. Malaysia Airports (Niaga) Sdn Bhd
6. K.L. Airport Hotel Sdn Bhd RM1,500 per meeting RM1,200 per meeting
7. MAB Agriculture-Horticulture Sdn Bhd
8. KLIA Aeropolis Sdn Bhd
9. Malaysia Airports International Sdn Bhd
10. Istanbul Sabiha Gökçen International Airport (ISG) and
SGC Airport Operations Trade and Tourism Inc. (SGC)*
3. Committee of Malaysia Airports’ Subsidiaries

Meeting Allowance
1. ISG and SGC* RM2,500 per meeting RM2,000 per meeting
4. Management Committee of Malaysia Airports

Meeting Allowance
1. Whistleblowing Independent Committee RM1,500 per meeting RM1,000 per meeting
* To be paid to one subsidiary only (i.e ISG).

Details of remuneration received by the Directors for the financial year ended 31 December 2020 are summarised below:
Category Directors’ Fees Directors’ Other Benefits-in-Kind^^

Emoluments^
Total
MAHB Subsidiary MAHB Subsidiary MAHB Subsidiary
(a) (b) (c) (d) (e) (f)
(RM) (RM) (RM) (RM) (RM) (RM) (RM)
Non-Executive Directors
Dato’ Seri Diraja Dr. Zambry Abd. Kadir 83,612.90 0.00 118,017.74 0.00 8,722.25 0.00 210,352.89
(Appointed with effect from 12 August 2020)
Tan Sri Datuk Zainun Ali 132,387.10 0.00 64,356.68 0.00 43,228.23 0.00 239,972.01
(Resigned with effect from 11 August 2020)
Tan Sri Dato’ Seri Syed Anwar Jamalullail 0.00 0.00 0.00 0.00 10,000.00 0.00 10,000.00
(Resigned with effect from 17 January 2019)
Dato’ Zamzuri Abdul Aziz 128,275.86 0.00 47,350.00 0.00 7,000.00 0.00 182,625.86
(Appointed with effect from 10 February 2020)
Dato’ Dr. Amiruddin Muhamed 0.00 0.00 20,350.00 0.00 5,000.00 0.00 25,350.00
(Appointed as alternate with effect from
10 February 2020)
Datuk Siti Zauyah Md Desa 0.00 0.00 0.00 0.00 10,000.00 0.00 10,000.00
(Resigned with effect from 30 November 2019)
Dato’ Jana Santhiran Muniayan 144,000.00 30,200 55,050.00 4,350.00 14,899.00 0.00 248,499.00
Tan Sri Mohd Khairul Adib Abd Rahman 0.00 0.00 0.00 0.00 10,000.00 0.00 10,000.00
Wong Shu Hsien* 144,000.00 0.00 96,000.00 0.00 0.00 0.00 240,000.00
Dato’ Mohd Izani Ghani 0.00 0.00 0.00 0.00 10,000.00 0.00 10,000.00
(Resigned with effect from 28 February 2019)
Dato’ Mohamad Nasir Ab. Latif 36,000.00 0.00 16,350.00 0.00 7,000.00 0.00 59,350.00
(Appointed with effect from 1 October 2020)
Datuk Seri Yam Kong Choy 144,000.00 132,000.00 103,700.00 15,600.00 19,461.53 0.00 414,761.53
Datuk Zalekha Hassan 144,000.00 96,000.00 125,350.00 15,350.00 17,000.00 0.00 397,700.00
Rosli Abdullah 144,000.00 120,000.00 91,350.00 40,300.00 17,350.00 0.00 413,000.00
Dato’ Ir. Mohamad Husin 144,000.00 96,000.00 107,350.00 12,000.00 15,000.00 0.00 374,350.00
Datuk Azailiza Mohd Ahad 144,000.00 84,000.00 122,850.00 3,600.00 10,000.00 0.00 364,450.00
Ramanathan Sathiamutty 144,000.00 79,163.44 115,350.00 24,400.00 10,000.00 0.00 372,913.44
Hajah Jamilah Dato’ Hashim 108,000.00 90,000.00 84,050.00 12,000.00 22,000.00 0.00 316,050.00
(Resigned with effect from 30 September 2020)
Grand Total 1,640,275.86 727,363.44 1,167,474.42 127,600.00 236,661.01 0.00 3,899,374.73
This disclosure is for the payment to the respective Directors in financial year 2020.
* Total remuneration paid to Khazanah Nasional Berhad, the major shareholder of the company, in respect of service rendered to the Company by Ms. Wong Shu
Hsien.
^ Directors’ Other Emoluments comprises Senior Independent Director allowance, meeting allowance, car allowance°, personal assistant allowance°, entertainment
allowance° and out-of-pocket expenses.
^^ Benefits-in-kind comprises car°°, petrol°°, toll°°, driver°°, IT & telecommunication devices, club°° and professional membership, and Directors’ appreciation gift.
° For Chairman only.
°° For Chairman only.
In line with the provision of the Board Charter, a review of the as a member of the BAC. In line with MCCG 2017, the
Directors’ total remuneration is conducted once every two (2) Chairman of the BAC is not the Chairman of the Board.
years to ensure that remuneration levels are aligned at least at BAC comprised of majority INEDs.
the 50th percentile of their appropriate peer group. The Board
believes that the alignment of the remuneration offered to During the year, the BAC members had attended
the Directors will enable the Company to continue to attract professional development courses in accounting and
and retain individuals of the required caliber on the Board. auditing standards to keep themselves abreast with the
However, due to the unfavourable economic impact from changes in the regulatory environment.
COVID-19 pandemic, the review was deferred until such time
the situation returns to normalcy. The BAC report is available on pages 191-194 of this
Report.
Senior Management Remuneration
• Board Risk Management Committee
The Board strives to ensure the Senior Management’s
remuneration package is competitive to be able to attract new Board Risk Management Committee (BRMC) was
talents, as well as to retain existing talents. Currently, the top established to oversee the Company’s risk management
five Senior Management’s remuneration packages are within framework and policies. BRMC is responsible to determine
the range of RM50,000.00 per month to RM104,000.00 per the Company’s level of risk tolerance and actively identify,
month. assess, and monitor key business risks to safeguard
shareholders’ investments and the Company’s assets.
The Senior Management’s performance is evaluated on a yearly
basis where the corporate level Key Performance Indicators The Corporate Risk Management Profile of the Group
(KPIs) are set by the Board and cascaded to the Senior and the mitigation plan for the risks are being monitored
Management. The Senior Management’s performance is then by BRMC on quarterly basis and lifted to the Board for
reviewed in the middle of each year and at the beginning of approval. The risks are categorised into several areas
the following year. namely strategic, regulatory, operational, human capital,
information technology, reputational and financial.
PRINCIPLE B : Effectiveness Audit and Risk INTEGRITY AND AUDIT

Management
Ensuring Quality in Financial Reporting
Board Audit Committee and Board Risk Management
Committee are primarily responsible for risk management and In presenting the annual audited financial statements and
internal control oversight: quarterly financial results to the shareholders, the Directors
ensures that the information presented contains a balanced
• Board Audit Committee and comprehensive assessment of the Group’s financial
position and prospects. The Board is assisted by BAC in
Board Audit Committee (BAC) plays a key role in the reviewing the information disclosed in the financial statements
Company’s corporate governance framework. BAC is and ensuring its completeness, accuracy, and adequacy.
positioned to rigorously challenge and ask probing
questions on the Company’s financial reporting process, The Board is fully aware of the changes in the accounting
related party transactions and conflicts of interest, internal policies with the implementation of the Malaysian Financial
control, internal audit and external audit processes. Reporting Standards (MFRSs) approved by the Malaysian
Accounting Standards Board and all companies in the Group
It is provided under the Terms of Reference of the BAC have adopted the relevant MFRSs applicable for the financial
that the former key audit partner shall observe a cooling year ended 31 December 2020.
off period of at least two (2) years before being appointed
Risk Management and Internal Controls corruption risks of the organisation. In 2020, in collaboration
with the Institut Integriti Malaysia (IIM), CID had organised
The effectiveness of the Company’s internal control system the Corruption Risk Management workshops. All operating
is reviewed from time to time. The Board Committees have companies in the Group and divisions under the Company
been entrusted under their respective functions which are were required to identify and assess corruption risks at their
aimed at supporting the Board’s oversight roles of proper respective business areas. Subsequently, corruption risks for
implementation of corporate governance practices, audit, each entity and division were registered in Malaysia Airports
risk management and internal control systems. The Board risk scorecard (MArs). In summary, a total of 510 corruption
is guided by the Risk Management Policy Framework to risks were registered in MArs.
ensure effective oversight of risks and controls in the Group.
The effectiveness of risk management and internal controls On 17 June 2020, CID issued a Guideline on Anti-Corruption
is continuously reviewed to ensure that they are working as Due Diligence for the Group to guide the relevant companies
intended. or divisions in fulfilling the requirement of Principle III of
Guidelines on Adequate Procedures. Under the principle, a
INTEGRITY AND ETHICS commercial organisation should put in place the appropriate
controls and contingency measures which are reasonable
Corporate Integrity and proportionate to the nature and size of the organisation
to address any corruption risks arising from weaknesses in
Pursuant to Section 17A of the Malaysia Anti-Corruption the organisation’s governance framework, processes, and
Commission Act 2009 (MACC Act 2009), the Guidelines on procedures. CID had also revised the Standard Operating
Adequate Procedures was launched by the the Malaysian Procedure (SOP) of its Whistleblowing, Corruption Risk
Anti-Corruption Commission in December 2018 to assist Management, and Investigation on Corruption to further
commercial organisations in formulating the adequate describe and improve the processes.
procedures that should be implemented to prevent corrupt
practices. Malaysia Airports’ procurement processes were certified with
ISO 37001:2016 Anti-Bribery Management Systems in 2019.
In 2020, Corporate Integrity Division (CID) introduced the On 24 November 2020 to 27 November 2020, the Company
signing of the Statement of Annual Assurance (the Statement) and its subsidiary, Malaysia Airports (Sepang) Sdn Bhd
that confirms the commitment by Senior Management underwent the Anti-Bribery Management Systems (ABMS)
to comply with principles under Guidelines on Adequate ISO 37001:2016 Surveillance Audit. The scope of the ABMS
Procedures. Management of the respective business areas is certification was expanded to cover all process, as compared
required to sign the Statement based on the five (5) principles to only procurement processes in 2019. The surveillance
of Guidelines on Adequate Procedures, i.e., Top-Level audit was conducted by ABMS certification body, i.e., SIRIM
Commitment, Risk Assessment, Undertake Control Measures, QAS. The audit was carried out to ensure regular reviews
Systematic Review, Monitoring and Enforcement and Training are conducted to assess the performance, efficiency, and
and Communication. In addition, in collaboration with the effectiveness of the anti-corruption programme, and ensure
Human Capital Division, CID had launched the online sign-off the programme is enforced as outlined in the Guidelines
of Corruption Free Pledge and Certification of Compliance to of Adequate Procedures and requirement of ABMS ISO
Code of Ethics and Conduct for all employees. 37001:2016 Certification.
According to Guidelines on Adequate Procedures, a corruption Due to the COVID-19 pandemic, CID has deferred the
risk assessment should form the basis of an organisation’s anti- physical e-learning awareness session on anti-corruption. In
corruption effort. As such, a commercial organisation should 2020, 99% of Malaysia Airports’ employees completed the
conduct corruption risk assessments periodically as and when anti-corruption e-learning. Besides the e-learning, CID also
there is a change in law or circumstance of the business to disseminated the information related to integrity, corruptions,
identify, analyse, assess, and prioritise the internal and external and whistleblowing on printed materials such as posters and
buntings.
CID also launched the “Serve with #Integrity” button badge. subparagraph 15.29(1)(b) of the Listing Requirements. The
It is a personalised campaign aimed at inspiring employees revised Whistleblowing Policy was approved by the Board on
to demonstrate integrity, honesty, sincerity, and commitment 30 November 2020.
in serving Malaysia Airports’ guests and stakeholders. The
campaign was launched on 8 May 2020. All employees are Complaints can be channelled online on the Company’s website
required to wear “Serve with #Integrity” button badge while at www.malaysiaairports.com.my via the Whistleblowing
on duty. Programme Reporting of Concern Form, or emailed to
[email protected], or by calling the
Additionally, CID organised a briefing session on Corporate hotline at 03-8777 7314 or 019-659 2263.
Liability (Section 17A of MACC Act 2009) for Senior
Management.
PRINCIPLE C : Integrity in Corporate Reporting
Whistleblowing Policy and Meaningful Relationship with Stakeholders
Bursa Securities had amended the Listing Requirements to Communication and Relationship with Stakeholders
incorporate anti-corruption and whistleblowing measures that
came into effect from 1 June 2020. The new amended Listing Recognising that we are accountable to our stakeholders,
Requirements in relation to anti-corruption and whistleblowing institutional shareholders as well as minority shareholders, the
are provided under Paragraph 15.29 as follows: - reporting of financial and non-financial results in a transparent
fashion is critical to earn the trust and confidence of the
A listed issuer and its board of directors must ensure that: - stakeholders. Several formal communication channels are used
to account to shareholders to update on the performance of
the Group. These include communication through the Annual
(a) the following are established and maintained for the
Reports, periodic announcement of financial results and press
listed issuer and its subsidiaries (Group): -
releases.
(i) policies and procedures on anti-corruption that are,
Shareholders may raise questions to the Company by
at a minimum, guided by the Guidelines on Adequate
contacting the Investor Relation Division. The Company’s
Procedures issued pursuant to section 17A (5) of the
Investor Relation Policy enables effective communication with
MACC Act 2009; and
the shareholders, potential investors, other stakeholders, and
the public in general. It is intended to give them a clear picture
(ii) policies and procedures on whistleblowing.
of the Group’s performance and operations. To maintain
transparency and effectively address matters and concerns
(b) the policies and procedures in subparagraph (a) above
raised by any parties, the Company has a dedicated an email
are reviewed periodically to assess their effectiveness,
at [email protected] to which stakeholders can
and in any event, at least once every three (3) years; and
direct their queries.
(c) corruption risk is included in its annual risk assessment of The Board acknowledges the importance that the shareholders
the Group. be informed of all material information affecting the Company
in a timely manner by assuring the following:
A listed issuer must also publish on its website: –
• All announcements on quarterly financial results, change
(a) its policy on anti-corruption; and in the composition of the Board and Principal Officers,
(b) its policy and procedures on whistleblowing. etc., are disclosed to Bursa Securities within the stipulated
timeframe and immediately made available on the
The current Company’s Whistleblowing Policy was approved by Company’s website.
the Board in 2016. The Whistleblowing Policy has been revised • All information released to the stakeholders will be placed
to incorporate the requirement that the policy be reviewed on Malaysia Airports’ website promptly following the
at least once every three (3) years to ensure compliance with release.
• Clear, accurate and sufficient information to enable representative, by proxy or to appoint an attorney to attend
shareholders and investors to make informed investment on their behalf.
decisions; and
• All formal queries by Bursa Securities and other regulatory As guided by MCCG 2017, in facilitating greater shareholder
authorities are expeditiously responded to. participation, the Board has taken proactive measure in
leveraging technology during the Company’s 21st AGM held
Conduct of General Meeting in 2020 via voting in absentia and remote shareholders’
participation.
The Board is equally interested in the concerns of minority
shareholders and mandated the Company Secretary to The Board will maintain good dialogue with shareholders by
oversee the communication with this group of shareholders. proactively arranging meetings, presentations, and events, to
The Board recognises the significance of the constructive use better understand the views of the shareholders on a range of
of AGM as an avenue for a dialogue with minority shareholders issues from strategy to corporate governance.
based on the mutual understanding of its objectives.
Individual shareholders can put questions to the Chairman COMPLIANCE STATEMENT
at the AGM. Chairmen of various Board Committees attend
the AGM to respond to any questions on the activities of the The Board considers that the Company has complied to a
Board Committees as provided under their respective terms large extent with the MCCG 2017. For further information
of references. on the application of practices stipulated in the Principles
of MCCG 2017 during the financial year under review,
The Notice of AGM is circulated 28 days before the date of please refer to Corporate Governance Report 2020 of the
meeting to enable shareholders to go through the Annual Company which is accessible on Malaysia Airports’ website at
Report, adopting the Practice under Principle C: Integrity www.malaysiaairports.com.my.
in Corporate Reporting and Meaningful Relationship with
Stakeholders of MCCG 2017 and fulfilling the minimum 21-day This Corporate Governance Overview Statement is made in
requirement under the Companies Act 2016 and the Listing accordance with a resolution of the Board of Directors and
Requirements of Bursa Securities. The additional time given to approved at the Board of Directors’ meeting held on 26
shareholders enables them to make necessary arrangements February 2021.
to attend and participate either in person, by corporate
Statement on Risk Management and Internal Control
In line with Para 15.26(b) of Bursa Malaysia’s Main Market Listing Requirements, the Board of Directors (the Board) of Malaysia Airports
Holdings Berhad (MAHB) has prepared a statement on the state of risk management and internal controls within Malaysia Airports.
Requirements of the Malaysian Code of Corporate Governance 2017 (MCCG 2017) whereby the Board of a listed issuer is to
establish and maintain a sound risk management framework and internal control system has also been met.
GOVERNANCE AND RESPONSIBILITY
The governance structure spans the whole organisation, from the Board at the top right to the operational and tactical level
below. Material risks are both communicated top down and bottom up.
BOARD OF DIRECTORS
Governance
BOARD Committees
Exco & Management Committees

TACT
Line Line Line Line Line Line

ICAL
Managers Managers Managers Managers Managers Managers
Risk Management Framework
Board of MAHB Subsidiary Board
Board Risk Management Committee (BRMC)
Corporate Risk Management Committee (CRMC) Subsidiary Risk Management Committee (RMC)
Risk Management & Compliance Division (RMCD)
Risk Coordinator
Risk Scorecard Owner

(Head of Division/ Department/ Unit)
Malaysia Airports continues to practice the three lines of defense model:
1st Line
2nd Line
The first line of defence is handled
by front-line and mid-line managers 3rd Line
The second line of defence is put in
who have day-to-day ownership and
place to support senior management
management over risks and controls Internal and external audit are the third
by bringing expertise and monitoring
which are executed to enhance the line of defence, offering independent
alongside the first line to ensure
likelihood that the organisation’s challenge to the levels of assurance
that risks and controls are properly
objectives are achieved. provided by the business operations
managed. Second line functions
and oversight functions. As and
may develop, implement, or modify
when necessary, other independent
internal controls and risk processes of
assurance providers are engaged to
the organisation.
perform this work as well.
RISK MANAGEMENT FRAMEWORK & PROCESS
The rationale for the implementation of the Enterprise Risk Management (ERM) framework is to:
• Safeguard people, asset, property and the environment

• Uphold Malaysia Airports’ image and reputation
• Enhance effectiveness, efficiency and continuity of our business management
• Encourage proactive rather than reactive management
• Provide a basis for strategic planning
• Ensure compliance with mandatory requirements and standards
• Provide assurance to stakeholders that risk identification and management of risks play a key role in the delivery of Malaysia
Airports’ business objectives
• Ensure that there is adequate financial provision in the event of loss by having a structured risk financing process
Malaysia Airports’ risk management and internal control system is guided by ISO 31000: Risk Management - Principles and
Guidelines and the Committee of Sponsoring Organizations of the Treadway Commission (COSO) Framework.
Establishing The Context
Risk Assessment
Risk Identification
Communication & Monitoring &
Consultation Risk Analysis Review
Risk Evaluation
Risk Treatment
KEY RISK AREAS
Key risks are risks deemed as having significant and material impact to the Malaysia Airports. Throughout 2020 and continuing
through 2021 to date, the permeating peril was the global impact of the COVID-19 pandemic and the specific negative impacts
it has on the aviation industry, in particular for Malaysia Airports, as an airport operator.
Among the major consequences of the spread of COVID-19 was international border closures worldwide and travel restrictions.
For 2020, there was a severe drop in passenger traffic in our airports (a decrease of 69.6% Groupwide against 2019) which
consequently impacted both our Aero (e.g. Passenger Service Charge (PSC) and Landing and Parking Charges) and non-Aero
revenues (e.g. Retail & Commercial Rentals). Malaysia Airports’ business partners were also not spared by the pandemic which
in turn brought into focus the continued sustainability of the partnerships and the recoverability of amounts owed to Malaysia
Airports. During this time, there were several planned replacements and refurbishments requiring significant CAPEX particularly
at the main airport i.e. KLIA. Thus, in ensuring better management of the cashflows, these projects have undergone prioritisation
as well as negotiations through a number of workshops in staging out the CAPEX over a few years.
Equal concern was also accorded in ensuring the continued health and safety of customers of Malaysia Airports’ facilities and
the employees who are serving them. With the continued spread of COVID-19, efforts were not spared in carrying out Malaysia
Airports’ role as the guardian of Malaysia’s gateways.
Realising the importance and significance of being able to rapidly anticipate and respond to arising related issues due to
COVID-19, since March 2020, i.e. start of the Movement Control Order (MCO) in Malaysia, the leadership held weekly COVID-19
meetings to better manage key risks. The Committee is headed by the Group Chief Executive Officer (GCEO) and permanent
members comprise of all Executive Committee (ExCo) members. The following are highlights of the key risk areas.
FINANCIAL
CHALLENGES:
Liquidity Risk
This refers to the risk that Malaysia Airports was unable to meet its future cash payments or other financial obligations. Among
others, this related to major commitments such as undertakings for significant CAPEX investments, concession and User Fee
payments due and maturity of the Sukuk financings.
Credit Risk
There was concern over the recoverability of amounts due to Malaysia Airports from its business partners due to prolonged
impact of COVID-19 on their business conditions.
MITIGATION MEASURES:
Governance: Established COVID-19 Crisis Management Team
One of the main actions in managing this risk was the establishment of the COVID-19 Crisis Management Team as mentioned
above in order to facilitate faster deliberation on arising related issues and decision-making.
Implemented measures to strengthen financial position and manage liquidity risk:
a) Operational expenses containment and cash conservation
In order to conserve cash reserves, measures as below were taken:
• Recalibrated operational efficiencies
• Rebased cost
• Prioritised capital expenditure
b) Addressing Liquidity Risk
At the onset of the year 2020, Malaysia Airports was on a strong liquidity position entering into the COVID-19 pandemic.
Nonetheless, it has since undertaken several stress tests on its liquidity position and taken pre-emptive measures to
ensure continued liquidity. These measures included securing additional credit facilities, refinancing initiatives resulting
in lower costs of financing and renegotiated favourable terms to existing financing facilities.
c) Cash Recovery
Malaysia Airports proactively initiated a cash recovery plan on trade and other receivables outstanding, working closely
with the Government of Malaysia, airlines and commercial tenants.
d) Divestment Strategy
Malaysia Airports aimed to divest its non-strategic assets upon achieving the desired price consideration.
Creation of New Revenue Stream
- shopMYairports e-Commerce platform was developed and launched in Quarter 4 2020
- Hastening of commercial reset programme
- Conducted several airport megasales
- Sama Sama Hotels organised airport staycation programme
Supporting Initiatives
- Social media channels covering Twitter, Facebook and Instagram for Malaysia Airports were key in creating awareness
of not only activities at the airports but also on upcoming sales drive to assist in commercial initiatives carried out. In
Quarter 4 2020, the shopMYairports Instagram account was created to support the e-Commerce platform. Promotional
adverts online were also deployed to targeted members of the public.
HEALTH & SAFETY
CHALLENGES:
Health & Safety Risk
Ensuring staff and stakeholders’ wellbeing in times of COVID-19.
Malaysia Airports was and is diligent in ensuring Government’s directives and Standard Operating Procedures (SOPs)
regarding COVID-19 were being followed. At the start of the pandemic, the Multi-agency Airport Crisis Management Teams
were activated at the airports.
Sanitisation activities both at the airports as well as in the offices were ramped up. High touch areas’ cleaning schedules were
increased whilst detective equipment such as thermal / temperature scanners were installed. Protective equipment such as
sneeze guards at counters were also installed at the airports. Operationally, the ‘New Normal’ was in place which includes
minimising the numbers of staff being deployed in line with the directives.
Fast-tracking of contactless technology implementation timelines i.e. single token and facial recognition technology.
OPERATIONAL
CHALLENGES:
Assets, and Technology – Ageing Assets and Parts Obsolescence
Optimal working conditions of critical assets and facilities were paramount in meeting service quality standards and
operational performance for the comfort and convenience of airport users.
Continuous efforts to review, monitor and replace assets to ensure optimal operations. In the meantime, planned preventive
maintenance and optimisation programmes took place.
Successfully replaced the Total Airport Management Systems (TAMS) Network.
Ongoing programmes and audits on safety and security aspects.
Client Office was set-up in 2020 to focus on the Baggage Handling System (BHS) and Track Transit System (TTS) projects
for KLIA with RM400m being earmarked for CAPEX in 2021. BHS project updates became a standing agenda item in the
Executive Committee (ExCo) meetings.
STRATEGIC
CHALLENGES:
Operating Agreement (OA) – Unfavourable Terms
Terms of the new OA have a significant bearing to MAHB’s business model. Thus, this may impact the operations and
financials of the Group if the terms were unfavourable.
Preservation of the networked-based operating model of Malaysia Airports
The airports under Malaysia Airports is managed on a cross subsidisation model as more than 75% of the networked airports
were not commercially viable. Any model whereby a profitable airport(s) or business is taken out of the network would
jeopardise the ability of the Group to cross subsidise the rest.
Malaysia Airport have been continuously engaging relevant stakeholders i.e. Ministry of Transport, Ministry of Finance,
Malaysian Aviation Commission (MAVCOM), Civil Aviation Authority of Malaysia (CAAM) etc. regarding the OA on an ongoing
basis. Expected target for the new OA to be signed is the second half of 2021.
Besides this, Malaysia Airports also continuously ensured alignment with key stakeholders on Malaysia Airports’ corporate
priorities and constantly on the look out to identify and establish new relationships and opportunities with potential key
stakeholders.
Achieving awards and recognitions from international industry organisations and via independent surveys that reflected
Malaysia Airports’ solid operational capabilities and credibility in managing airports.
The Board through the BRMC and other relevant Board Committees, monitors and reviews the controls and action plans taken by
Management to address the key risks at a minimum on quarterly basis.
KEY ELEMENTS OF THE RISK MANAGEMENT AND INTERNAL CONTROL
The Group’s internal control system is embedded within the operating activities and Board’s review of internal control effectiveness,
centred on the COSO framework, is based on information from:
• Key management within the organisation with the responsibility for the development and maintenance of the risk management
and internal control framework;
• The work of the Internal Auditors, who submit regular reports to the Board Audit Committee which include their independent
and objective opinion on the adequacy and effectiveness of the organisation’s systems of risk management and internal
control together with recommendations for improvement; and
• Comments made by the External Auditors in their Management Letter and other reports.
A. Control
Environment
B. Risk
E. Monitoring
Assessment
coso Internal
Control -
Integrated
Framework
D. Information C. Control
Communication Activities
A. Control Environment B. Risk Assessment

Board Committees are governed by clearly defined Terms Subsidiaries, divisions and units conduct risk assessments
of References (TORs). prior to engaging in initiatives as well as for their unit on
Malaysia Airports’ Group Code of Ethics is the standard a quarterly basis. This is signed-off digitally using the
policy for all MAHB employees in their professional Malaysia Airports Risk Scorecard system.
conduct with fellow employees, and the Group’s
representatives including agents, consultants, contractors
and suppliers.
Vendors of Malaysia Airports are required to abide by
provisions under the Malaysia Airports Vendor Code of
Ethics (Vendor Code) effective from 19 December 2016.
C. Control Activities
The Group’s Limit of Authority (LOA) is reviewed and updated periodically to ensure that financial limits and guidelines are
current to facilitate effective and efficient decision-making. Latest version came into effect on 15 June 2020.
Policies and procedures such as those that address accounting policies, value management, procurement limits, and quality
management system are approved by the Board and are applicable across the Group.
The Whistleblowing Programme, whereby the Corporate Integrity Unit acts as the Secretariat, provides Malaysia Airports’
employees and stakeholders with a mechanism to report malpractices and irregularities responsibly within the Group, to
maintain a state of confidence of integrity within Malaysia Airports.
D. Information & Communication E. Monitoring

A Corporate Communication Policy provides guidance Monitoring the effectiveness of internal controls is
and ensures that communication across the Group and embedded in the normal course of the business. Periodic
beyond is well coordinated, effectively and strategically assessments are being integrated as part of Management’s
managed and meets the diverse needs of the organisation. continuous monitoring of internal controls.
AFFIRMATION BY THE GROUP CHIEF EXECUTIVE OFFICER AND GROUP CHIEF FINANCIAL OFFICER
In relation to the risk management process, the Group Chief Executive Officer and Group Chief Financial Officer to the best of
their ability and knowledge confirm that the Group’s risk management and internal control system is operating adequately and
effectively as at 31 December 2020.
REVIEW BY EXTERNAL AUDITORS
Pursuant to paragraph 15.23 of the Bursa Malaysia Listing Requirements, the External Auditors have reviewed this Statement for
inclusion in the 2020 Annual Report of MAHB Group, and have reported to the Board that nothing has come to their attention that
causes them to believe that the Statement is not prepared, in all material respects, in accordance with the disclosures required
by paragraphs 41 and 42 of the Statement on Risk Management and Internal Control Guidelines for Directors of Listed Issuers,
nor is the Statement factually inaccurate.
CONCLUSION
The Board and Management will continue to take measures to strengthen the control environment and monitor the health of the
risk management and internal controls framework.
Board Audit Committee Report
In compliance with Paragraph 15.15 of the Main Market Listing Requirements (“MMLR”) of Bursa Malaysia Securities Berhad
(“Bursa Securities”), the Board Audit Committee (“BAC”) of Malaysia Airports Holdings Berhad (“MAHB” or “the Company”) is
pleased to present the BAC Report for the financial year ended 31 December 2020.
The function of BAC is to assist the Board in fulfilling its oversight roles. The Terms of Reference of BAC sets out its composition,
authority, duties, and responsibilities in compliance with the requirements of the MMLR and Malaysian Code of Corporate
Governance 2017 (“MCCG 2017”). The Terms of Reference of the BAC is available on the Company’s official website at
www.malaysiaairports.com.my.
The BAC comprises four (4) Non-Executive Directors, of whom three (3) are Independent Directors. The membership and record
of meeting attendance of BAC members during the year under review are as follows:
Name of Director Attendance

Rosli bin Abdullah (Chairman) 7/7
Datuk Azailiza binti Mohd Ahad 7/7
Dato’ Ir Mohamad bin Husin 7/7
Wong Shu Hsien 7/7
None of the members of BAC is an alternate director and the above composition complies with Paragraph 15.09(1)(b) of the
MMLR and MCCG 2017.
The Terms of Reference of BAC requires it to meet at least six (6) times a year. However, during the year under review, the BAC met
seven (7) times. BAC meetings were also attended by the Acting General Manager of IAD and the Company Secretary, who also
serves as the Secretary to the BAC. Representatives of the Senior Management were also invited to provide feedbacks on matters
related to their purview. Representatives of the Company’s external auditors, Messrs Ernst & Young, were invited to attend the
meetings as and when required. During the year under review, BAC also held two (2) private discussions with the external auditors.
Minutes of BAC meetings were circulated to all members of the Board, whilst material issues relating to functions of BAC were
discussed at Board meetings.
The Chairman of BAC is a member of the Malaysian Institute of Accountants. He is also the Chairman of Audit & Risk Committee
(ARC) of the Company’s subsidiaries in Turkey, i.e., Istanbul Sabiha Gökçen Uluslararasi Havalimani Yatirim Yapim Ve Isletme A.S
(“ISG”) and SGC Havalimanı İşletmeleri Ticaret ve Turizm A.Ş. (“SGC”) (formerly known as LGM Havalimani Isletmeleri Ticaret Ve
Turizm A.S).
All members of BAC are financially literate and have sufficient level of understanding of the Company’s business. They have also
attended relevant trainings and continuous professional development during the year under review. In addition, BAC practises a
cooling-off period of two (2) years for a former audit partner before being appointed as a member of the BAC.
During the financial year under review, the performance and effectiveness of BAC were evaluated by the Board. Having reviewed
the BAC’s performance, the Board is satisfied that BAC members had discharged their functions, duties, and responsibilities in
accordance with its Terms of Reference.
SUMMARY OF ACTIVITIES DURING FINANCIAL YEAR 2020
Main activities undertaken by BAC in discharging its functions and duties during the year under review were as follows:
Financial Reporting
• Reviewed and monitored the financial position and performance of MAHB Group (“the Group”) on a quarterly basis.
• Reviewed the quarterly financial results of the Group before recommending the same to the Board for approval.
• Reviewed the audited financial statements of the Group with the external auditors before recommending the same to the
Board for approval.
• Ensured compliance with the MMLR, applicable accounting standards in Malaysia, provisions of Companies Act 2016 and
other legal and regulatory requirements.
Internal Control
• Reviewed the effectiveness of the system of internal control.
• Reviewed the Statement on Risk Management and Internal Controls which was supported by an independent review by
Messrs Ernst & Young.
• Reviewed Related Party Transactions and Recurrent Related Party Transactions on a quarterly basis.
Internal Audit
• Reviewed and approved the revision of the Internal Audit Charter.
• Reviewed and approved the IAD’s Risk-based Internal Audit Plan, budget, and manpower requirements to ensure the
adequacy of resources, competencies, and coverage on key risk areas. During the year under review, BAC had also reviewed
and approved the revised Audit Plan for 2020 which was proposed by IAD after considering the risk and impact of COVID-19
pandemic on the Company’s businesses and operations.
• Reviewed audit reports issued by IAD on the effectiveness and adequacy of governance, risk management, operational and
compliance processes. BAC then considered those recommendations including Management’s responses, before proposing
that the control weaknesses are rectified and recommendations for improvements be implemented.
• Reviewed follow-up reports by the IAD on the status of actions taken by the Management on recommendations suggested
in the audit reports.
• Reviewed follow-up reports by the IAD on external auditors’ significant audit observations as set out in the Management
Letter and status of actions taken by the Management on issues raised by the external auditors.
• Evaluated the performance of the IAD and recommended for improvements.
• Reviewed the ARC Minutes of Meeting for ISG and SGC.
External Audit
• Evaluated the performance, suitability, objectivity, and independence of external auditors and recommended to the Board
on the appointment and audit fees.
• Reviewed the external auditors’ scope of work and audit plan for the financial year.
• Reviewed with the external auditors, their management letter together with the Management responses.
Whistleblowing and Corporate Integrity

• Deliberated on all matters pertaining to Whistleblowing Programme, ethics, integrity, corruption, abuse of power and other
scope covered under the Malaysian Anti-Corruption Committee Act 2009.
• Reviewed the Whistleblowing Policy, its TOR, appointment of new WIC members and status reports on the Whistleblowing
Programme.
• Reviewed status updates on the Anti Bribery Management System (ABMS) and Adequate Procedures.
• Reviewed and approved Corporate Integrity Division (CID)’s revised TOR, Annual Plan, and Budget and status updates on
CID activities during the year.
Annual Report
• Reviewed the BAC Report and Statement of Risk Management and Internal Control for onward approval by the Board for
publication in the 2020 Annual Report.
Other Activities
• Approved relevant mandatory announcements to Bursa Malaysia in compliance with MMLR.
• Reviewed the revised Terms of Reference of BAC for approval by the Board.
• Being updated on BURSA thematic review findings and key takeaway.
• Being briefed on MFRS, tax updates and accounting considerations on COVID-19.
INTERNAL AUDIT FUNCTION
BAC is supported by IAD in discharging its duties and responsibilities. The internal audit authority, responsibilities and scope of
work are defined in the Internal Audit Charter as approved by BAC. The Internal Audit Charter is in line with the standards and
principle outlined in the International Professional Practices Framework (IPPF) issued by The Institute of Internal Auditors (The IIA).
In determining the priorities for internal audit activities, IAD applies a risk-based approach, and the annual audit plan is reviewed
periodically, taking into consideration changes in risk exposure and operating environment. In view of the associated risks arising
from the Covid–19 pandemic, significant impacts to business and the obligation to strictly adhere to the regulatory requirements
in managing the spread of the disease, IAD had revisited the Annual Audit Plan 2020 which was initially approved by BAC. A
Revised Audit Plan was proposed to ensure that the Audit Plan addresses the material issues and risks faced by the Company. IAD
at the same time adjusted the audit activities to suit the movement restrictions during the pandemic.
An Audit Management System is used to enhance the effectiveness and efficiency of the audit process. Execution of audit
engagements are guided by the Committee of Sponsoring Organisations (COSO) and Control Objectives for Information and
Related Technologies (COBIT) framework in ensuring that IAD conforms to the Standards and deliver value-added services.
The IAD audit universe includes functions on governance, risk management and review of controls in the areas of, but not limited to
corporate, governance and compliance, information systems, airports (operations, engineering, revenue management, safety and
security) and other subsidiaries’ business in aviation services, airport commercial and retail, facilities & infrastructure management,
hospitality management, airport consultancy, agriculture, and aeropolis.
Apart from the existing audit universe, advisory engagements were conducted specifically on COVID-19 related matters.
This includes infection control, passenger movement management at airports, and compliance with the Standard Operating
Procedures (SOP) and Guidelines as issued by the Ministry of Health.
Since the enforcement of the first Movement Control Order (“MCO”) by the Government in March 2020, the capability to work
remotely has become significant. Therefore, IAD had conducted an assessment on the readiness of Remote Work within the
Company and recommended improvements to the existing facilities as well as suggested for the management to explore
opportunities and plan for the readiness of future remote working.
Periodically, IAD presented to the BAC the updates on its activities comprising key highlights of areas reviewed, follow-up of
outstanding issues, progress of the 2020 Annual Audit Plan and ad hoc assignments. The Internal Audit function at ISG and SGC
reports to the Acting General Manager IAD of MAHB, and relevant updates on the activities undertaken were presented to the
ARC of ISG and SGC.
Group IAD performed its audits which include among others the following key areas in accordance with the Audit Plan:
Corporate
Enterprise Risk Management, Human Resource Business Partnering, and Business Sustainability (Retail & Commercial) during
COVID-19 pandemic.
Governance
Procurement-to-Pay, Group Asset Management, Covid–19 Pandemic Management, Data Governance (Aeronautical and
Commercial) and Limit of Authority.
Information Technology
Cybersecurity, Management of Intelligent Assets, Innovation & Big Data, Revenue Management System and Airport Operation
Systems
Operation
Commercial, Airport Operations, Corporate Development & External Business, F&B, Hotel and Office Mobility
Financial
Debt Collection & Monitoring, and Treasury
Others*
Related Party Transactions, Investigations, Special Reviews, and Projects
* Request from the Board, Board Committees, Management or arising from whistleblowing programmes.
During the financial year under review, Group IAD issued a total of forty-seven (47) Internal Audit reports, including two (2) for ISG
and three (3) for SGC.
The above reports were issued to Management for their responses and remedial actions. Management is responsible to ensure
that corrective actions are taken on the reported improvement areas within the stipulated timeframe. Subsequently, Internal Audit
Management Committee meetings were held to deliberate on matters of concern prior to tabling to BAC and to the respective
Boards of subsidiary companies, where applicable.
As of 31 December 2020, IAD had a total of 21 auditors from the following backgrounds:
Discipline No. of Internal Auditors Percentage (%)
Accounting, Actuarial, Finance and Business 12 57
Information Technology and Business 4 19
Engineering 4 19
Operations 1 5
Total 21 100
All IAD staff are required to pledge adherence to the Code of Ethics and to disclose any relationship or conflict of interest situation
on an annual basis to safeguard the audits against any potential impairment of objectivity and independence.
Since 2008, the Company has appointed a qualified independent reviewer once every five (5) years to conduct an external quality
assessment to ensure that audit works performed by the internal auditors are in line with The IIA standards. Based on the external
quality assessment conducted by The IIA Malaysia in 2018, IAD was found to have fulfilled the key objectives in accordance with
the IIA’s International Standards for Professional Practice of Internal Auditing with a rating of “Generally Conform”.
For financial year ended 31 December 2020, the total internal audit expenditure incurred by the Company was RM 2.62 million
(2019: RM 3.46 million), whilst for ISG and SGC, the total internal audit expenditure was TL 390,570 (2019: TL 613,758) [equivalent
to RM 211,600 (2019: RM 439,029)].
For the financial year under review, the BAC is of the view that the Company is in compliance with the MMLR.
Rosli bin Abdullah

Chairman
Board Audit Committee
Investor Relations
At Malaysia Airports, we dedicate our efforts in continuously ensure continuous and accurate information flows to the
creating and maximising values for our esteemed shareholders. relevant users and market participants reflecting the true
We understand the importance to continuously engage our and up-to-date position of the Group.
existing shareholders and prospective investors to keep them
up to date with insights, strategies, business performance and • One-on-one Meetings, Conference Calls and Investor
latest developments within the Group. The Group has in place Conferences
a dedicated Investor Relations department which facilitates The senior management and Investor Relations team have
effective communication with the Company’s shareholders, been actively participating in meetings and conference
analysts and fund managers. Our comprehensive Investor calls with institutional investors, fund managers, analysts
Relations Programme was implemented to consistently deliver and rating agencies held in Malaysia as well as abroad.
effective, timely and transparent communication with the We participated in over 660 engagements, as an effort to
investment community. continuously reach out to a wider investor base.
To keep senior management and the Board abreast of market The Group’s efforts on engaging with stakeholders have
perceptions and concerns, the Investor Relations team provides not come unnoticed, as Malaysia Airports was once again
regular updates on shareholding details, investor relations recognised by various institutions within the investment
activities, recommendations by analysts and comments from community:
the investment community, as well as on commentary on share
price performance. The Investor Relations team also facilitates - Highest Growth in Profit After Tax over Three Years
shareholder communication and engagement, with the senior (Transportation and Logistics) at The Edge Billion
management’s full support. Ringgit Club 2020
- 8th place for Best Company for Investor Relations
QUARTERLY FINANCIAL RESULTS AND ANALYST BRIEFING (Large Cap) at the Malaysia Investor Relations
Association Awards
Malaysia Airports organises presentations with teleconferencing - 7th place for Best Investor Relations Business
facilities during quarterly financial result briefings to the media, Knowledge & Insights (All Cap) at the Malaysia
equity and fixed income analysts as well as the fund managers. Investor Relations Association Awards
Site visits and meetings held at our facilities are also held regularly - 7th place for Best Investor Relations Professional
with members of the investment community, to keep them (Large Cap) at the Malaysia Investor Relations
abreast with the Group’s latest developments. Our proactive Association Awards
Investor Relations initiatives ensure timely dissemination of - 9th place for Best Investor Relations Website (Large
relevant information to the public and investment community for Cap) at the Malaysia Investor Relations Association
better understanding of the financial, operational performance Awards
as well as key strategies of the Group.
• Investor Relations Portal
Malaysia Airports further emphasises on timely disclosure In further efforts to enhance access by various stakeholders,
through the circulation of investor presentations. Presentation the Investor Relations department maintains an Investor
of financial results and performance are prepared in a concise Relations portal, on the company’s website, http://www.
and transparent manner and are made available on our malaysiaairports.com.my. The website offers an effective
website in conjunction with the release of financial results communication platform with a wide range of information
announcement to Bursa Malaysia Securities Berhad. for shareholders, prospective investors and the general
public including the key financial highlights, annual reports,
INVESTOR ENGAGEMENT financial results, investor presentation, press releases, and
disclosures to Bursa Malaysia Securities Berhad.
• COVID-19 Response
The unprecedented impact and challenging operating • Investor Feeback
environment due to the outbreak of COVID-19 posed a To further strengthen the relationship with the investing
threat towards the Group’s operations, putting pressure community, the Investor Relations team values
on the Company’s share price performance. Whilst the feedback or enquiries which can be communicated
Group strives to overcome the tough climate, the Investor directly via the following dedicated email address
Relations team continues to proactively engage with [email protected].
the investment community in order to provide accurate,
relevant, and reliable information of the Group’s position The Investor Relations team endeavours to provide timely
in a clear and transparent manner. The Investor Relations responses to feedback or queries by ongoing engagement
team aims to safeguard the shareholders’ interest and to and direct communication with the stakeholders.
Investor Relations
MALAYSIA AIRPORTS CREDIT RATING Conferences, Roadshows and Events in 2020
Malaysia Airports is committed towards sound financial position 7 January CIMB Annual Malaysia Corporate Day,
and robust balance sheet. In 2020, Malaysia Airports continues Malaysia
to exhibit strong financial and operating fundamentals; as 9 January DBS Pulse of Asia Conference, Singapore
evident by its strong investment grade credit ratings:
11 March Credit Suisse ASEAN Virtual Corporate Day
12 March UBS Virtual Conference
Rating Agency Credit Rating
RAM AAA 23 March CLSA Virtual Conference
Moody’s A3 1 April UBS Virtual APAC Transport and Logistics Day

2 April CGS-CIMB Virtual Conference
Malaysia Airports is committed to maintain the above
7 April Nomura Malaysia Focus Virtual Conference
ratings, which is achieved via prudent and pragmatic capital
management approach taken by the Group in the course of 30 April Credit Suisse Virtual Conference
doing its business. 27 May CLSA Virtual Conference
10 June Affin Hwang Transport & Logistics Day
Equity Research Coverage
10 June UBS Virtual Malaysia Corporate Day
Affin Hwang Investment Bank Berhad 18 June Minority Shareholders Watch Group
AllianceDBS Research Sdn Bhd Engagement
AmInvestment Bank Bhd 6 July Maybank Kim Eng’s Invest ASEAN Malaysia
CGS-CIMB Securities Sdn Bhd Week
Citi Research 7 July DBS Vickers ASEAN Tourism Conference

CLSA Limited 8-9 September CITIC CLSA Investors’ Forum
Credit Suisse Securities (Malaysia) Sdn Bhd 10 September Citi’s GEMS Conference
Hong Leong Investment Bank Berhad 24 September UBS OneASEAN Virtual Conference
JPMorgan Securities (Malaysia) Sdn Bhd 25 September Nomura Regional Industrials Corporate Day
KAF Equities Sdn Bhd 29 September Malaysia Airports Non-deal Roadshow
Kenanga Investment Bank Berhad 22 October CLSA Virtual Conference
Macquarie Capital Securities (Malaysia) Sdn Bhd
27 October CGS-CIMB Virtual Conference
Maybank Investment Bank Berhad
2 December JPMorgan Virtual Conference
MIDF Amanah Investment Bank Berhad
7-8 December Nomura Investment Forum
Nomura Securities Malaysia Sdn Bhd
RHB Investment Bank Berhad Investor Relations Contact:-
TA Securities Holdings Berhad
The Hongkong and Shanghai Banking Corporation Limited Zeid Abdul Razak, Investor Relations
Tel: +603 8777 7495
UBS Securities Malaysia Sdn Bhd
Fax: +603 8777 7830
UOB Kay Hian Private Limited E-Mail: [email protected]
Dividend Policy
Dividend Policy
The Company’s dividend policy entails the payment of dividend at a payout ratio of at least 50% of the consolidated annual net
profit after taxation and minority interest commencing from the financial year 2007. Nevertheless, the actual amount and timing
of the dividend payments will depend on the Company’s cash flow position, results of operations, business prospects, current and
expected obligations, and such other matters as the Board may deem relevant.
Interim Dividend (sen) Final Dividend (sen) Payout Ratio (%)

Financial Year Franked Single Tier Franked Single Tier
2007 4.00 13.80 50.0
2008 4.00 14.55 50.0
2009 8.00 14.90 50.0
2010 8.00 11.75 55.0
2011 8.00 12.85 0.30 50.0
2012 6.00 7.63 50.0
2013 6.00 5.78 50.0
2014 2.00 3.60 61.0
2015 4.00 4.50 58.0
2016 4.00 6.00 56.0
2017 5.00 8.00 55.0
2018 5.00 9.00 52.0
2019 5.00 10.00 52.0
Dividend Per Share (DPS)
25.00 70%
61%
58% 60%
55% 56%
20.00
50% 50% 50% 50% 50% 55%
Dividend Payout Ratio

52% 52% 50%
50%
15.00
DPS (sen)
40%
11.75
14.90
13.15
30%
10.00
7.63
5.78
10.00
8.00
9.00
20%
14.55
13.80
4.50
6.00
2.00 3.60
5.00
10%
4.00
4.00
8.00
8.00
8.00
6.00
6.00
4.00
4.00
5.00
5.00
5.00
- 0%
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Interim DPS (sen) Final DPS (sen) Dividend Payout %

Dividend Policy
Dividend Reinvestment Plan
In our commitment to reward shareholders as well as to strengthen the Group’s capital base, Malaysia Airports had established a
dividend reinvestment plan (DRP). The DRP allows shareholders of Malaysia Airports to reinvest their dividends into new ordinary
share(s) in Malaysia Airports. The rationale for the DRP is as follows:
(i) enhance shareholders’ value via the subscription of new Malaysia Airports shares where the new Malaysia Airports shares
issued typically bears a discount
(ii) provide the shareholders with greater flexibility in meeting their investment objectives by providing a choice of receiving cash
or reinvesting in Malaysia Airports
(iii) dividends that are reinvested are utilised to fund the continuing business growth of the Group; and
(iv) improve liquidity of Malaysia Airports’ shares traded on the Main Market of Bursa Malaysia Securities Berhad
The details of the past DRP exercises completed by the Company is as shown in the table below:
Number of
Total dividend Number of
Type of Dividend per shares made Subscription
amount shares re-
dividend share available for (%)
(RM Million) invested
Financial Year investment
2012 Interim 6.00 72.60 15,343,229 7,088,046 46.2%
Final 7.63 92.86 18,060,421 15,355,833 85.0%
2013 Interim 6.00 73.95 9,169,678 8,102,473 88.4%
Final 5.78 78.87 10,901,346 9,553,502 87.6%
2014 Interim 2.00 27.48 4,479,556 2,391,485 53.4%
Final 3.60 59.47 9,909,098 7,342,222 74.1%
ADDITIONAL COMPLIANCE INFORMATION
The following information is provided in compliance with paragraph 9.25 of the Bursa Malaysia Listing Requirements.
1. Status of Utilisation of Proceeds Raised from Corporate Proposal
There were no proceeds raised by the Company from any corporate proposal during the financial year ended 31 December
2020.
2. Audit and Non-Audit Fees
The amount of audit and non-audit fees paid to the External Auditors, Messrs Ernst & Young during the financial year ended
31 December 2020 are as follows:-
Company % Group %
(RM) (RM)
Audit Fee 315,000 91.3 1,106,232 90.9
Non-audit Fee 30,000 8.7 111,210 9.1
Total 345,000 100 1,217,442 100
The nature of the services rendered for the non-audit fees incurred are corporate advisory services, review of the statement of
Risk Management and Internal Control and review of the statement of User Fee.
3. Material Contracts
There were no material contracts nor any contracts entered into by the Company and/or its subsidiaries involving interests of
directors and/or major shareholders either subsisting as at 31 December 2020 or entered into since the end of the previous
financial year ended 31 December 2019.
4. Recurrent Related Party Transactions of Revenue Nature
There were no recurrent related party transactions of a revenue nature entered into by the Company during the financial year
ended 31 December 2020.
5. Employees Share Option Scheme
There were no Employees Share Option Scheme granted by the Company during the financial year ended 31 December 2020.
6. Corporate Social Responsibility
Please refer to our Sustainability Report 2020.

200 Malaysia Airports Holdings Berhad >> Additional Information
Corporate Information
Board of Directors
Dato’ Seri Diraja Dr. Zambry

Abd. Kadir
(Chairman)
(Non-Independent Non-Executive)

Normah Osman
Wong Shu Hsien

Board Audit Committee Board Finance and

Dato’ Mohamad Nasir Ab. Latif
Investment Committee
(Non-Independent Non-Executive) Rosli Abdullah
(Chairman) Datuk Seri Yam Kong Choy
Datuk Seri Yam Kong Choy (Independent Non-Executive) (Chairman)
(Senior Independent (Senior Independent Non-Executive)
Non-Executive) Wong Shu Hsien
(Non-Independent Non-Executive) Dato’ Zamzuri Abdul Aziz
Datuk Zalekha Hassan (Non-Independent Non-Executive)
(Independent Non-Executive) Dato’ Ir. Mohamad Husin
(Independent Non-Executive) Wong Shu Hsien
Rosli Abdullah (Non-Independent Non-Executive)
(Independent Non-Executive) Datuk Azailiza Mohd Ahad
(Independent Non-Executive) Dato' Mohamad Nasir Ab. Latif
Dato’ Ir. Mohamad Husin (Non-Independent Non-Executive)
(Independent Non-Executive) Board Nomination and
Remuneration Committee Datuk Azailiza Mohd Ahad
Datuk Azailiza Mohd Ahad (Independent Non-Executive)
(Independent Non-Executive)
(Chairman)
Wong Shu Hsien
Dato’ Dr. Amiruddin Muhamed
(Alternate Director to Dato’
(Senior Independent Non-Executive)
Zamzuri Abdul Aziz)

Annual Report 2020 >> Additional Information 201
Board Procurement Company Secretary Auditors

Committee
Zawardi Salleh Messrs. Ernst & Young PLT
Datuk Zalekha Hassan SSM Practising Certificate No. Level 23A, Menara Milenium
(Chairman) 202008003088 Jalan Damanlela
(Independent Non-Executive) MAICSA 7026210 Pusat Bandar Damansara
50490 Kuala Lumpur
Group Finance
Dato’ Zamzuri Abdul Aziz Tel : 603-7495 8000
(Non-Independent Non-Executive) Mohamed Rastam Shahrom Fax : 603-2095 9076/78
Group Chief Financial Officer
Dato’ Ir. Mohamad Husin Principal Bankers
Registered Office
CIMB Bank Berhad
Malayan Banking Berhad
Ramanathan Sathiamutty Persiaran Korporat KLIA
64000 KLIA, Sepang Citibank Berhad
Selangor Darul Ehsan
Tel : 603-8777 7011 Stock Exchange Listing
Board Risk Management
Fax : 603-8777 7512
Committee Listed on Main Market of
E-mail : [email protected]
Bursa Malaysia Securities Berhad
Dato' Mohamad Nasir Ab. Latif
Website Listing Date : 30 November 1999
(Chairman)
Stock Name : AIRPORT
(Non-Independent Non-Executive) www.malaysiaairports.com.my Stock Code : 5014
Stock Sector : Transportation & Logistics
Datuk Zalekha Hassan Share Registrar
Securities Services (Holdings) Sdn Bhd
Level 7, Menara Milenium
Rosli Abdullah Jalan Damanlela
(Independent Non-Executive) Pusat Bandar Damansara
Damansara Heights
Ramanathan Sathiamutty 50490 Kuala Lumpur
(Independent Non-Executive) Tel : 603-2084 9000
Fax : 603-2094 9940/2095 0292
AWARDS AND ACCOLADES
The Edge Billion Ringgit Club 2020 – SUSTAINABILITY & CSR MALAYSIA AWARD – BY
01 Highest Growth in Profit After Tax 08
CSR MALAYSIA
over Three Years
2019 ASEAN CORPORATE GOVERNANCE INTERNATIONAL ARC AWARDS, NON-

02 SCORECARD AWARD & ASEAN ASSET CLASS 09 TRADITIONAL ANNUAL REPORT, GOLD AWARD
PLCS – ISSUED BY MINORITY SHAREHOLDERS – BY ARC AWARDS
WATCH GROUP
INTERNATIONAL CUSTOMER EXPERIENCE INTERNATIONAL ANNUAL REPORT DESIGN

03 10 AWARDS, IADA 2020, SILVER AWARD – THE
AWARD, SILVER AWARD – BY AWARDS
INTERNATIONAL AND CUSTOMER EXPERIENCE INTERNATIONAL ANNUAL REPORT DESIGN
PROFESSIONALS ASSOCIATION (CXPA) AWARDS (IADA)
RISTEx 2020 (Regional Innovation Award recipient under the Anti Bribery
04 Showcase Team Excellence) – Gold 11 Management System (ABMS) Certification
Award & Industry 4.0 Award Scheme by SIRIM
APIC 2020 (Annual Productivity and 2020 HAUTE GRANDEUR GLOBAL HOTEL
05 Exposition & Conference) – Top 20 12 AWARDS FOR BEST AIRPORT HOTEL ON
Services Sector and 5 Star Award GLOBAL LEVEL
ISO 450001:2018 OCCUPATIONAL HEALTH & 2020 WORLD LUXURY HOTEL AWARDS FOR
06 SAFETY MANAGEMENT SYSTEM 13 LUXURY AIRPORT HOTEL GLOBAL WINNER
MALAYSIA LAW AWARDS 2020, 2020 TRIPADVISOR TRAVELLER’S CHOICE BEST

07 14 OF THE BEST HOTEL
TRANSPORTATION AND LOGISTICS IN-HOUSE
TEAM OF THE YEAR – BY ASIAN LEGAL
BUSINESS (ALB)
Scan here for more info.

Statement of Workforce
EXECUTIVE MANAGEMENT
92.40% 86.14%
Malay Malay
3.84% 7.73%
Indian Chinese
1.92% 4.55%
Chinese Indian
0.58% 0.68%
Iban Others
0.50% 0.45%
Kadazan Iban
0.33% 0.23%
Others Brunei
0.25% 0.23%
Melanau Melanau
0.08%
Murut
0.08%
Melayu Cocos
NON-EXECUTIVE
Malay 86.62% Rungus 0.05%

Iban 2.54% Sungei/Sungai 0.05%
Bidayuh 1.75% Dusun Kadazan 0.04%
Others 1.74% Jawa 0.04%
Kadazan 1.67% Sino 0.04%
Indian 1.39% Banjar 0.03%
Bajau 0.91% Iranun 0.03%
Melanau 0.81% Sino Kadazan 0.03%
Chinese 0.71% Tidung 0.03%
Brunei 0.31% Dayak 0.01%
Dusun 0.30% Idahan 0.01%
Bisaya 0.16% Kayan 0.01%
Bugis 0.14% Kelabit 0.01%
Kayan Kenyah 0.14% Kenyah 0.01%
Murut 0.11% Lundayeh 0.01%
Suluk 0.09% Orang Asli 0.01%
Orang Ulu 0.08% Siam 0.01%
Kadayan 0.06% Sikh 0.01%
Lun Bawang 0.05%
Airports Statistics
Total MAHB Group Traffic 2020
PASSENGER MOVEMENTS 2020 2019 +/-
MY passengers [international] 9,497,037 53,285,807 -82.2%

[domestic] 16,264,125 51,976,759 -68.7%
[Total] 25,761,162 105,262,566 -75.5%
ISG passengers [international] 5,336,764 14,234,482 -62.5%
[domestic] 11,869,464 21,718,823 -45.3%
[Total] 17,206,228 35,953,305 -52.1%
Total MAHB Group 42,967,390 141,215,871 -69.6%
AIRCRAFT MOVEMENTS 2020 2019 +/-
MY commercial aircraft [international] 99,357 351,038 -71.7%

[domestic] 249,430 542,405 -54.0%
[Total] 348,787 893,443 -61.0%
ISG commercial aircraft [international] 41,184 97,885 -57.9%
[domestic] 81,609 132,394 -38.4%
[Total] 122,793 230,279 -46.7%
Total commercial aircraft 471,580 1,123,722 -58.0%
MY All other aircraft 124,898 152,780 -18.2%
ISG All other aircraft 3,595 5,189 -30.7%
Total MAHB Group 600,073 1,281,691 -53.2%
CARGO MOVEMENTS [tonnes] 2020 2019 +/-
MY cargo movements [international] 606,067 757,687 -20.0%

[domestic] 188,240 186,095 1.2%
[Total] 794,307 943,782 -15.8%
ISG cargo movements [international] 31,251 49,870 -37.3%
[domestic] 9,160 9,452 -3.1%
[Total] 40,411 59,322 -31.9%
Total MAHB Group 834,718 1,003,104 -16.8%
Note : MY - MAHB Airports

ISG - Istanbul Sabiha Gökçen International Airport, Turkey
Traffic 2020 Malaysia Operations
PASSENGER MOVEMENTS 2020 2019 +/-
Terminal passengers [international] 9,450,661 53,195,236 -82.2%

Terminal passengers [domestic] 16,250,556 51,962,942 -68.7%
Transit passengers 59,945 104,388 -42.6%
Total passenger movements 25,761,162 105,262,566 -75.5%
AIRCRAFT MOVEMENTS 2020 2019 +/-
Commercial aircraft [international] 99,357 351,038 -71.7%

Commercial aircraft [domestic] 249,430 542,405 -54.0%
Total commercial aircraft 348,787 893,443 -61.0%
All other aircraft 124,898 152,780 -18.2%
Total aircraft movements 473,685 1,046,223 -54.7%
CARGO MOVEMENTS [tonnes] 2020 2019 +/-
Cargo movements [international] 591,398 745,096 -20.6%

Cargo movements [domestic] 187,574 182,837 2.6%
Transit cargo 15,335 15,849 -3.2%
Total cargo movements 794,307 943,782 -15.8%
MAIL MOVEMENTS [tonnes] 2020 2019 +/-
Mail movements [international] 15,929 27,516 -42.1%

Mail movements [domestic] 1,143 1,108 3.1%
Transit mail 181 102 76.8%
Total mail movements 17,253 28,726 -39.9%
Scan here for

Airport Statistics 2020
STATEMENT OF SHAREHOLDINGS
AS AT 31 MARCH 2021
Share Capital
Issued and Fully Paid-Up Capital : RM1,659,191,829/-

Class of Equity Securities : 1,659,191,828 Ordinary Shares and
One Special Rights Redeemable Preference Share
Voting Rights : One vote per ordinary share
The Special Share has no voting right other than that referred to in Note 26 of the Audited
Financial Statements.
ANALYSIS OF SHAREHOLDINGS AS AT 31 MARCH 2021
A. DISTRIBUTION OF SHAREHOLDINGS (MALAYSIAN & FOREIGN)
Size of Holdings No. of Holders No. of Holdings Percentage

Malaysian Foreign Malaysian Foreign Malaysian Foreign
1 – 99 698 18 9,327 304 0.00 0.00
100 – 1,000 5,776 86 4,257,528 44,078 0.26 0.00
1,001 – 10,000 6,124 127 18,553,647 571,696 1.12 0.03
10,001 – 100,000 675 262 18,896,889 11,552,074 1.14 0.70
100,001 – 82,959,590 (*) 158 326 443,497,540 421,570,231 26.73 25.41
82,959,591 and above (**) 2 0 740,238,514 0 44.61 0.00
Total 13,433 819 1,225,453,445 433,738,383 73.86 26.14
Grand Total 14,252 1,659,191,828 100.00
Remark: * Less than 5% of Issued Holdings

** 5% and above of Issued Holdings
Note(s): The above information is based on records as provided by Bursa Malaysia Depository Sdn Bhd and number of
holders reflected is in reference to CDS account numbers.
B. LIST OF TOP 30 SECURITIES ACCOUNT HOLDERS AS AT 31 MARCH 2021

(without aggregating securities from different securities accounts belonging to the same person)
Name of Shareholders No. of Holdings Percentage
1. KHAZANAH NASIONAL BERHAD 533,176,288 32.13
2. CITIGROUP NOMINEES (TEMPATAN) SDN BHD 207,062,226 12.48

EMPLOYEES PROVIDENT FUND BOARD
3. AMANAHRAYA TRUSTEES BERHAD 81,199,400 4.89

AMANAH SAHAM BUMIPUTERA
4. KUMPULAN WANG PERSARAAN (DIPERBADANKAN) 75,704,700 4.56

EXEMPT AN FOR AIA BHD.
6. CARTABAN NOMINEES (ASING) SDN BHD 26,853,501 1.62

EXEMPT AN FOR RBC INVESTOR SERVICES TRUST (CLIENTS ACCOUNT)

GREAT EASTERN LIFE ASSURANCE (MALAYSIA) BERHAD (PAR 1)

EXEMPT AN FOR STATE STREET BANK & TRUST COMPANY (WEST CLT OD67)
9. HSBC NOMINEES (ASING) SDN BHD 19,528,600 1.18

TNTC FOR THE GENESIS GROUP TRUST FOR EMPLOYEE BENEFIT PLANS

TNTC FOR NEW ZEALAND SUPERANNUATION FUND

AMANAH SAHAM MALAYSIA 2 – WAWASAN

GIC PRIVATE LIMITED FOR GOVERNMENT OF SINGAPORE (C)

JPMCB NA FOR VANGUARD EMERGING MARKETS STOCK INDEX FUND

JPMBL SA FOR STICHTING DEPOSITARY APG EMERGING MARKETS
EQUITY POOL

JPMCB NA FOR VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUND

EMPLOYEES PROVIDENT FUND BOARD (ABERDEEN)

TNTC FOR COMMONWEALTH SUPERANNUATION CORPORATION
STATEMENT OF SHAREHOLDINGS
AS AT 31 MARCH 2021
Name of Shareholders No. of Holdings Percentage

EMPLOYEES PROVIDENT FUND BOARD (CIMB PRIN)

HSBC BK PLC FOR KUWAIT INVESTMENT OFFICE (KIO)

KUMPULAN WANG PERSARAAN (DIPERBADANKAN) (ABERDEEN)
21. CGS-CIMB NOMINEES (TEMPATAN) SDN BHD 8,928,570 0.54

EXEMPT AN FOR CGS-CIMB SECURITIES SDN BHD (SBL-KNB)

KHAZANAH NASIONAL BERHAD
23. CARTABAN NOMINEES (TEMPATAN) SDN BHD 7,936,900 0.48

PAMB FOR PRULINK EQUITY FUND
24. CITIGROUP NOMINEES (ASING) SDN BHD 7,872,688 0.47

CBHK FOR HOSTPLUS POOLED SUPERANNUATION TRUST
(NORTHCAPE CAP)
25. PERMODALAN NASIONAL BERHAD 7,814,000 0.47

AMANAH SAHAM MALAYSIA

JPMCB NA FOR TCORPIM EMERGING MARKET SHARE FUND
28. DB (MALAYSIA) NOMINEE (ASING) SDN BHD 7,141,406 0.43

BNYM SA/NV FOR PEOPLE’S BANK OF CHINA (SICL ASIA EM)

NTGS LUX FOR THE GENESIS EMERGING MARKETS INVESTMENT
COMPANY

GREAT EASTERN LIFE ASSURANCE (MALAYSIA) BERHAD (LSF)
C. HOLDER OF SPECIAL RIGHTS REDEEMABLE PREFERENCE SHARE AS AT 31 MARCH 2021
1. The Minister of Finance (Incorporated)
D. SUBSTANTIAL SHAREHOLDERS AS AT 31 MARCH 2021

(as shown in the register of substantial shareholders)
Name of Substantial Shareholders No. of Shares held

Direct Indirect Percentage
Khazanah Nasional Berhad 551,033,428 - 33.21
Employees Provident Fund Board 237,903,492 - 14.34
Kumpulan Wang Persaraan (Diperbadankan) 90,754,306 - 5.47
E. DIRECTORS’ SHAREHOLDINGS AS AT 31 MARCH 2021

(as shown in the register of directors’ shareholdings)
Name of Directors No. of Shares

Direct Indirect Percentage
1. Dato’ Seri Diraja Dr. Zambry Abd Kadir - - -
2. Dato’ Zamzuri Abdul Aziz - - -
3. Wong Shu Hsien - - -
4. Dato’ Mohamad Nasir Ab Latif - - -
5. Datuk Seri Yam Kong Choy - - -
6. Datuk Zalekha Hassan - - -
7. Rosli Abdullah - - -
8. Dato’ Ir. Mohamad Husin - - -
9. Datuk Azailiza Mohd Ahad - - -
10. Ramanathan Sathiamutty - - -
11. Dato’ Dr. Amiruddin Muhamed - - -
Information for Shareholders and Investors
Share Registrar LISTING
Securities Services (Holdings) Sdn Bhd The Company’s ordinary shares are listed on the Main
Level 7, Menara Milenium Market of Bursa Malaysia Securities Berhad in Malaysia.
Jalan Damanlela
Pusat Bandar Damansara
Damansara Heights
50490 Kuala Lumpur
Tel : 603-2084 9000
Fax : 603-2094 9940/2095 0292
MALAYSIAN TAXES ON DIVIDEND ANNUAL REPORT
Single tier dividend received by shareholders will be The Company Secretary

exempted from tax in Malaysia. Malaysia Airports Holdings Berhad
Persiaran Korporat KLIA
64000 KLIA, Sepang
Tel : 603-8777 7011
Fax : 603-8777 7512
Share Price, Volume Traded and Market Capitalisation
2020 Share Price Movement
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
6.74 6.59 4.32 5.25 5.00 5.45 5.28 5.10 4.74 4.18 5.21 5.92
8.00
7.00
6.00
5.00
4.00
2020 Monthly Trading Volume & Share Price Statistics
Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Volume (Million) 73.1 75.4 100.6 104.5 70.9 92.7 38.1 34.2 32.5 32.6 57.3 49.5
High (RM) 7.67 7.20 6.58 5.69 5.27 6.20 5.95 5.46 5.29 4.80 5.94 6.30
Low (RM) 6.18 6.46 3.92 4.28 4.70 4.88 4.95 4.96 4.73 4.05 4.11 5.26
Closing Price (RM) 6.74 6.59 4.32 5.25 5.00 5.45 5.28 5.10 4.74 4.18 5.21 5.92
Closing Price And Market Capitalisation
Year 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Last Closing Price for the year (RM) 2.21 3.97 6.28 5.80 5.21 9.00 6.80 5.61 6.06 8.79 8.38 7.60 5.92
Market Capitalisation (RM Million) 2,431 4,367 6,908 6,380 6,304 11,092 9,344 9,308 10,055 14,584 13,904 12,610 9,822
RM Million RM
15,000 10.00
12,000 8.00
9,000 6.00
6,000 4.00
3,000 2.00
0 0
Financial Calendar
GENERAL MEETING
30 April 2021 2 June 2021

Notice of 22nd Annual General Meeting 22nd Annual General Meeting
FINANCIAL YEAR 2020

DIVIDEND
QUARTERLY RESULTS ANNOUNCEMENTS
22 May 2020 10.0 sen

Unaudited consolidated results for the per ordinary share
1st quarter ended 31 March 2020
Single-Tier Final Dividend FY2019
27 August 2020 17 April 2020

Unaudited consolidated results for the Notice of book closure date
2nd quarter ended 30 June 2020
6 May 2020
30 November 2020 Entitlement date
Unaudited consolidated results for the
3rd quarter ended 30 September 2020
21 May 2020
26 February 2021 Payment date
Unaudited consolidated results for the

4th quarter ended 31 December 2020
List of Properties
NET BOOK
VALUE
DESCRIPTION BUILT-UP AS AT 31
LEASED AND EXISTING LAND AREA DEC 2020
PROPERTIES USE TENURE AREA (SQM) (RM’000)
Malaysia Airports (Sepang) Sdn. Bhd. KLIA 25 years (Expiry date - 22,165 - -
Federal Land Commissioner 11 February 2034) acres
Location:
District Of Sepang, Selangor Malaysia
MALAYSIA AIRPORTS HOLDINGS BHD. Sultan Abdul Aziz 60 years (Expiry date - 1,122 - -
FEDERAL LAND COMMISSIONER** Shah Airport 31 December 2066) acres
Location:
District of Petaling, Selangor Malaysia
MALAYSIA AIRPORTS SDN BHD Penang 25 years (Expiry date - 826.99 - -
FEDERAL LAND COMMISSIONER International 11 February 2034) acres
Airport
Location:
District of Barat Daya, Penang Malaysia
MALAYSIA AIRPORTS SDN BHD Langkawi 25 years (Expiry date - 409.15 - -
Airport
Location:
District of Langkawi, Kedah
MALAYSIA AIRPORTS SDN BHD Kuching 25 years (Expiry date - 322.43 - -
Airport
Location:
District of Kuching, Sarawak
MALAYSIA AIRPORTS SDN BHD Sultan Abdul 25 years (Expiry date - 294.42 - -
FEDERAL LAND COMMISSIONER Halim Shah 11 February 2034) acres
Airport
Location:
District of Alor Setar, Kedah
MALAYSIA AIRPORTS SDN BHD Sultan Azlan Shah 25 years (Expiry date - 352.03 - -
FEDERAL LAND COMMISSIONER Airport 11 February 2034) acres
Location:
District of Ipoh, Perak
List of Properties
NET BOOK
VALUE
MALAYSIA AIRPORTS SDN BHD Batu Berendam 25 years (Expiry date - 239.70 - -
FEDERAL LAND COMMISSIONER Airport, Melaka 11 February 2034) acres
Location:
District of Batu Berendam, Melaka
MALAYSIA AIRPORTS SDN BHD Sultan Ahmad 25 years (Expiry date - 86.27 - -
FEDERAL LAND COMMISSIONER Shah Airport 11 February 2034) acres
Location:
District of Kuantan, Pahang
MALAYSIA AIRPORTS SDN BHD Sultan Mahmud 25 years (Expiry date - 365.54 - -
FEDERAL LAND COMMISSIONER Airport 11 February 2034) acres
Location:
District of Kuala Terengganu, Terengganu
MALAYSIA AIRPORTS SDN BHD Sultan Ismail 25 years (Expiry date - 895.28 - -
FEDERAL LAND COMMISSIONER Petra Airport 11 February 2034) acres
Location:
District of Kota Bharu, Kelantan
MALAYSIA AIRPORTS SDN BHD Miri Airport 25 years (Expiry date - 1,722.31 - -
FEDERAL LAND COMMISSIONER 11 February 2034) acres
Location:
District of Miri, Sarawak
MALAYSIA AIRPORTS SDN BHD Sibu Airport 25 years (Expiry date - 1,138.87 - -
Location:
District of Sibu, Sarawak
MALAYSIA AIRPORTS SDN BHD Bintulu Airport 25 years (Expiry date - 1,512.28 - -
Location:
District of Bintulu, Sarawak
NET BOOK
VALUE
MALAYSIA AIRPORTS SDN BHD Limbang Airport 25 years (Expiry date - 651.45 - -
Location:
District of Limbang, Sarawak
MALAYSIA AIRPORTS SDN BHD Mulu Airport 25 years (Expiry date - 576.31 - -
Location:
MALAYSIA AIRPORTS SDN BHD Bario STOLport 25 years (Expiry date - 74.52 - -
Location:
MALAYSIA AIRPORTS SDN BHD Ba’kelalan 25 years (Expiry date - 14.81 - -
FEDERAL LAND COMMISSIONER STOLport 11 February 2034) acres
Location:
District of Limbang, Sarawak
MALAYSIA AIRPORTS SDN BHD Long Lellang 25 years (Expiry date - 28.14 - -
Location:
MALAYSIA AIRPORTS SDN BHD Long Banga 25 years (Expiry date - 36.45 - -
Location:
MALAYSIA AIRPORTS SDN BHD Kapit STOLport 25 years (Expiry date - 26.46 - -
Location:
District of Kapit, Sarawak
List of Properties
NET BOOK
VALUE
MALAYSIA AIRPORTS SDN BHD Mukah STOLport 25 years (Expiry date - 6.63 - -
Location:
District of Mukah, Sarawak
Malaysia
MALAYSIA AIRPORTS SDN BHD Redang STOLport 25 years (Expiry date - 33.51 - -
Location:
District of Kuala Terengganu, Terengganu
Malaysia
MALAYSIA AIRPORTS (NIAGA) SDN. BHD. 48 units of Freehold - 3,791 1,868
apartments
Location:
Desa Cempaka, Bandar Baru Nilai Mukim
Nilai, District of Seremban Negeri Sembilan,
Malaysia
MALAYSIA AIRPORTS (PROPERTIES) 4 units of Freehold - 342 610
SDN. BHD. apartments
Location:
Genting Permai Park & Resort
District of Bentong, Pahang
Malaysia
MALAYSIA AIRPORTS (PROPERTIES) 14 units of Freehold - 774 715
SDN. BHD. apartments
Location:
Teluk Dalam, Pulau Pangkor
District of Manjung, Perak
Malaysia
NET BOOK
VALUE
MALAYSIA AIRPORTS SDN. BHD. 32 units of Leasehold of 99 years - 3,175 -

apartments (Expiry date - 31
Location: December 2089)
CL 205357688
Sierra Estates Condominium
Jalan Ranca-Ranca
Federal Territory of Labuan
Malaysia
MALAYSIA AIRPORTS SDN. BHD. Land (Residential) Leasehold of 99 years 0.9 acres - 196
70021493 (Expiry date - 31
December 2090)
Location:
CL 205359593
Kg. Nagalang
Malaysia
MALAYSIA AIRPORTS SDN. BHD. Land (Agricultural) Leasehold of 99 years 1.04 - 167
70046297 (Expiry date - 31 acres
December 2077)
Location:
CL 205317951
Kg. Nagalang
Malaysia
MALAYSIA AIRPORTS SDN. BHD. APAC building A total right of 6.5 acres 35,072 5,840
70023359 (Ex-Cargo occupation of 60
Complex) years (Expiry date - 31
District of Subang, Selangor
Malaysia
MALAYSIA AIRPORTS SDN. BHD. 6 units of single A total right of 3.58 1,376 469
70041246 storey houses occupation of 60 acres
(Masjid Quarters) years (Expiry date - 31
Malaysia
List of Properties
NET BOOK
VALUE
MALAYSIA AIRPORTS SDN. BHD. Helicopter Centre A total right of 21 acres 10,000 28,419
70041247 (Airbus (M) occupation of 60
Facility) years (Expiry date of
Location: 31 December 2066)
Malaysia
MALAYSIA AIRPORTS HOLDINGS BHD. Malaysia Airports A total right of 3 acres 9,997 14,470
70001251 Corporate office occupation of 25
KLIA years (Expiry date - 11
Location: February 2034)
District of Sepang, Selangor
Malaysia
MALAYSIA AIRPORTS (PROPERTIES) Malaysia Airports A total right of 1.94 1,963 3,982
SDN. BHD. Child Care Centre occupation of 25 acres
70001818-1825 years (Expiry date - 11
February 2034)
Location:
District of Sepang, Selangor
Malaysia
Note:
* Pursuant to the KLIA Land Lease Agreement dated 18 October 1999 entered into between Malaysia Airports (Sepang) Sdn. Bhd. (MA
(Sepang)) and the Federal Land Commissioner (FLC). MA (Sepang) has been granted the right of use of the KLIA land for a period of
50 years.
However, following a restructuring exercise for Malaysia Airports, the Land Lease Agreement was replaced by a new Land Lease
Agreement dated 12 February 2009. MA (Sepang) has been granted the right of use of the KLIA land for a period of 25 years.
** Pursuant to the Land Lease Agreement dated 26 October 2007 entered into between Malaysia Airports Holdings Bhd (MAHB)and the
FLC, MAHB has been granted a lease of land of Sultan Abdul Aziz Shah (SAAS) Airport for a period of 60 years.
Group Corporate Directory
MALAYSIA AIRPORTS HOLDINGS MALAYSIA AIRPORTS (NIAGA) İSTANBUL SABİHA GÖKÇEN

BERHAD AND GROUP SDN BHD ULUSLARARASI HAVALİMANI
Registered Address: Registration No. 199301026572 (281310-V) YATIRIM YAPIM VE İŞLETME A.Ş.
Malaysia Airports Corporate Office Business Address: (656447)
Persiaran Korporat KLIA 3rd Floor, Airport Management Centre Business Address:
64000 KLIA, Sepang Kuala Lumpur International Airport Sanayi Mahallesi
Selangor Darul Ehsan 64000 KLIA, Sepang Havaalanı iç yolu Caddesi Kapı No:1
Tel : +603-8777 7000 Selangor Darul Ehsan İstanbul Sabiha Gökçen Uluslararası
Fax : +603-8777 7778/+603-8777 7512 Tel : +603-8776 8600 Havalimanı
Fax : +603-8787 3747 Terminal Binası Yönetim Katı
MALAYSIA AIRPORTS HOLDINGS Pendik 34906 İstanbul - Türkiye
BERHAD K.L. AIRPORT HOTEL SDN BHD Tel : +90 216 588 80 00
Registration No. 199901012192 (487092-W) Registration No. 199501001669 (330863-D) Fax : +90 216 588 80 10
MALAYSIA AIRPORTS SDN BHD Business Address:
Registration No. 199101020335 (230646-U) Sama-Sama Hotel SGC HAVALİMANI İŞLETMELERİ
Kuala Lumpur International Airport TİCARET VE TURİZM A.Ş.
MALAYSIA AIRPORTS Jalan CTA 4B (660779)
CONSULTANCY SERVICES SDN BHD 64000 KLIA, Sepang Business Address:
Registration No. 199601002899 (375245-X)
Selangor Darul Ehsan Sanayi Mahallesi
KLIA AEROPOLIS SDN BHD Tel : +603-8787 3333 Havaalanı iç yolu Caddesi Kapı No:1
Registration No. 201601041450 (1212392-H) Fax : +603-8787 5555 İstanbul Sabiha Gökçen Uluslararası
Havalimanı
Business Address:
MAB AGRICULTURE-HORTICULTURE Terminal Binası Yönetim Katı
SDN BHD Pendik 34906 İstanbul - Türkiye
Registration No. 199801011774 (467902-D) Tel : +90 216 588 50 00
64000 KLIA, Sepang
Business Address: Fax : +90 216 588 50 05
4th Floor, Airport Management Centre
Tel : +603-8777 7000
Kuala Lumpur International Airport
Fax : +603-8777 7778/+603-8777 7512
64000 KLIA, Sepang
MALAYSIA AIRPORTS (SEPANG)
Tel : +6019-356 4366
SDN BHD
Registration No. 199401034797 (320480-D)
URUSAN TEKNOLOGI WAWASAN
Business Address:
SDN BHD
4th Floor, Airport Management Centre
Registration No. 199801003752 (459878-D)
Business Address:
64000 KLIA, Sepang
1st Floor, Civil Engineering Building
Engineering Complex
Tel : +603-8778 5500/5501
Fax : +603-8776 8111
64000 Sepang
Tel : +603-8776 7002
Fax : +603-8787 2455
Airport Directory
INTERNATIONAL AIRPORTS SULTAN ABDUL HALIM AIRPORT MIRI AIRPORT

06200 Alor Setar P.O. Box 851
KL INTERNATIONAL AIRPORT Kedah Darul Aman, Malaysia 98008 Miri, Sarawak, Malaysia
64000 KLIA Sepang T : 604-714 6876 T : 6085-615 204/205
Selangor Darul Ehsan, Malaysia F : 604-714 5345 F : 6085-614 537
T : 603-8777 8888 (STOLports under the supervision
SULTAN AHMAD SHAH AIRPORT
F : 603-8926 5510 of Miri Airport: Mulu, Long Seridan,
26070 Kuantan
Long Banga, Long Lellang, Long Akah,
KOTA KINABALU Pahang Darul Makmur, Malaysia
Marudi, Bakelalan, Long Semado,
INTERNATIONAL AIRPORT T : 609-531 2123/2100
Lawas and Bario)
Beg Berkunci No. 134 F : 609-538 4017
Aras 5, Bangunan Terminal (STOLport under the supervision of MULU AIRPORT
88740 Kota Kinabalu Sabah, Malaysia Sultan Ahmad Shah Airport: Tioman) Peti Surat 851
T : 6088-325 555 98008 Miri, Sarawak, Malaysia
SULTAN AZLAN SHAH AIRPORT
F : 6088-219 018 T : 6085-615 204/205
31350 Ipoh
(STOLports under the supervision of F : 6085-614 537
Perak Darul Ridzuan, Malaysia
Kota Kinabalu International Airport:
T : 605-318 8202 SIBU AIRPORT
Kudat & Long Pasia)
F : 605-312 2295 Peti Surat 645
KUCHING INTERNATIONAL AIRPORT (STOLport under the supervision of 96000 Sibu, Sarawak, Malaysia
Peti Surat 1070 Sultan Azlan Shah Airport: Pangkor) T : 6084-307 770
93722 Kuching, Sarawak, Malaysia F : 6084-307 709
SULTAN ISMAIL PETRA AIRPORT
T : 6082-454 242 (STOLports under the supervision of
Pengkalan Chepa
F : 6082-458 587 Sibu Airport: Mukah & Kapit)
16100 Kota Bharu, Kelantan Darul Naim
Malaysia LABUAN AIRPORT
LANGKAWI INTERNATIONAL AIRPORT
T : 609-773 7400 Jalan Tun Mustafa P.O. Box 80569,
07100 Padang Mat Sirat, Pulau
F : 609-773 3852 87015 W.P. Labuan Sabah, Malaysia
Langkawi, Kedah Darul Aman, Malaysia
T : 6087-416 007/ 5015
T : 604-955 1311 SULTAN MAHMUD AIRPORT
F : 6087-410 129
F : 604-955 1314 21300 Kuala Terengganu
Terengganu Darul Iman, Malaysia LAHAD DATU AIRPORT
PENANG INTERNATIONAL AIRPORT
T : 609-667 3666 P.O. Box 213
11900 Bayan Lepas Pulau Pinang,
F : 609-662 6670 91108 Lahad Datu, Sabah, Malaysia
Malaysia
T : 6089-881 033
T : 604-252 0252 BINTULU AIRPORT
F : 6089-881 618
F : 604-252 0252 97000 Bintulu, Sarawak, Malaysia
T : 6086-339 163 SANDAKAN AIRPORT
DOMESTIC AIRPORTS F : 6086-337 011 P.O. Box 1719
MELAKA AIRPORT (STOLport under the supervision of 90719 Sandakan, Sabah, Malaysia
75350 Melaka, Malaysia Bintulu Airport: Belaga) T : 6089-667 782
T : 606-317 5860 F : 6089-667 778
F : 606-317 5214 LIMBANG AIRPORT
98700 Limbang Sarawak, Malaysia TAWAU AIRPORT
SULTAN ABDUL AZIZ SHAH AIRPORT T : 6085-212 090 P.O. Box 60132
47200 Subang, Selangor Darul Ehsan, F : 6085-214 979 91011 Tawau, Sabah, Malaysia
Malaysia T : 6089-950 777
T : 603-7845 3245 F : 6089-950 781
F : 603-7846 3679 (STOLport under the supervision of
Tawau Airport: Semporna)
NOTICE OF THE 22 ND ANNUAL GENERAL MEETING
NOTICE IS HEREBY GIVEN THAT the 22nd Annual General Meeting (“22nd AGM“ or “the Meeting”) of Malaysia Airports Holdings
Berhad (“MAHB” or “the Company”) will be held fully virtual via remote participation and electronic voting from the Broadcast
Venue at Gateway Ballroom, Level 1, Sama-Sama Hotel, KL International Airport, Jalan CTA 4B, 64000 KLIA, Sepang, Selangor
Darul Ehsan on Wednesday, 2 June 2021 at 11.00 a.m. to transact the following businesses:
AS ORDINARY BUSINESS
1. To receive the Audited Financial Statements of the Company for the financial year ended 31 December
2020 together with the Reports of the Directors and Auditors thereon.
Please refer to Explanatory Note A
2. To approve the payment of Directors’ fees and benefits of an amount up to RM5,000,000.00 to the Ordinary
Non-Executive Directors (“NED”) of the Group with effect from 3 June 2021 until the next AGM in Resolution 1
2022.
Please refer to Explanatory Note B
3. To re-elect Dato’ Seri Diraja Dr. Zambry Abd Kadir who retires in accordance with Rule 132 of the Ordinary
Constitution of the Company and being eligible, offers himself for re-election. Resolution 2
Please refer to Explanatory Note C
4. To re-elect Dato’ Mohamad Nasir Ab Latif who retires in accordance with Rule 132 of the Constitution Ordinary
of the Company and being eligible, offers himself for re-election. Resolution 3
Please refer to Explanatory Note D
5. To re-elect Normah Osman who retires in accordance with Rule 132 of the Constitution of the Ordinary
Company and being eligible, offers herself for re-election. Resolution 4
Please refer to Explanatory Note E
6. To re-elect Dato’ Ir. Mohamad Husin who retires in accordance with Rule 134 of the Constitution of the Ordinary
Company and being eligible, offers himself for re-election. Resolution 5
Please refer to Explanatory Note F
7. To re-elect Datuk Azailiza Mohd Ahad who retires in accordance with Rule 134 of the Constitution of Ordinary
the Company and being eligible, offers herself for re-election. Resolution 6
Please refer to Explanatory Note G
8. To re-elect Ramanathan Sathiamutty who retires in accordance with Rule 134 of the Constitution of Ordinary
the Company and being eligible, offers himself for re-election. Resolution 7
Please refer to Explanatory Note H
9. To re-appoint Ernst & Young PLT (“EY”) as Auditors of the Company for the ensuing year and to Ordinary
authorise the Directors to fix their remuneration. Resolution 8
Please refer to Explanatory Note I
Notice of the 22 nd Annual General Meeting
AS SPECIAL BUSINESS
To consider and, if thought fit, to pass the following resolution with or without modifications:
10. Proposed renewal of the authority to allot and issue new ordinary shares in MAHB (“MAHB Ordinary
Shares”) for the purpose of the Company’s Dividend Reinvestment Plan (“DRP”) that provides Resolution 9
the Shareholders of MAHB (“Shareholders”) the option to elect to reinvest their cash dividend
in MAHB Shares
“THAT pursuant to the DRP as approved by the Shareholders at the Extraordinary General Meeting
(“EGM”) held on 30 November 2012 and subject to the approval of the relevant authority (if any),
approval be and is hereby given to the Company to allot and issue such number of new MAHB
Shares from time to time as may be required to be allotted and issued pursuant to the DRP until the
conclusion of the next AGM in such number and to such person and upon such terms and conditions
as the Directors may, in their sole and absolute discretion, deem fit and in the interest of the Company
PROVIDED THAT the issue price of the said new MAHB Shares shall be fixed by the Directors at not
more than ten percent (10%) discount to the adjusted five (5)-day volume weighted average market
price (“VWAP”) of MAHB Shares immediately before the price-fixing date. The 5-day VWAP of MAHB
Shares shall be adjusted ex-dividend before applying the aforementioned discount in fixing the issue
price of such new MAHB Shares;
AND THAT the Directors and the Secretary of the Company be and are hereby authorised to do all
such acts and enter into all such transactions, arrangements and documents as may be necessary
or expedient in order to give full effect to the DRP with full power to assent to any conditions,
modifications, variations and/or amendments (if any) as may be imposed or agreed to by any relevant
authorities or consequent upon the implementation of the said conditions, modifications, variations
and/or amendments or at the discretion of the Directors in the best interest of the Company.”
Please refer to Explanatory Note J
11. To transact any other business of which due notice shall have been received in accordance with the
Companies Act 2016 (“CA 2016”) and the Constitution of the Company.
By Order of the Board
ZAWARDI BIN SALLEH

SSM Practising Certificate No. 202008003088
MAICSA 7026210
Company Secretary

30 April 2021
Notes to the Notice of the 22nd AGM
Remote Participation and Voting
1. In upholding the best health and physical health practices in light of the Coronavirus Disease 2019 (“Covid-19”) pandemic, the
22nd AGM will be held fully virtual through live streaming and entirely via remote participation and electronic voting facilities via
Securities Services e-Portal (“e-Portal”) at https://sshsb.net.my/ provided by SS E Solutions Sdn Bhd in the manner as guided
by the Securities Commission Malaysia’s Guidance and FAQs on the Conduct of General Meetings for Listed Issuers dated
18 April 2020 (Revised on 5 March 2021) (“SC Guidance Note”). Kindly refer to the AGM Administrative Guide on the
conduct of a fully virtual 22nd AGM for further details.
2. The Broadcast Venue of the 22nd AGM is strictly for the purpose of complying with Section 327(2) of the CA 2016 and SC
Guidance Note which requires the Chairman of the Meeting to be present at the main venue of the Meeting. Having
regard to the well-being and safety, the shareholders/proxies/authorised representatives will not be allowed to be physically
present at the Broadcast Venue on the day of the 22nd AGM.
Proxy
3. Section 334 of the CA 2016 provides that a member of a company shall be entitled to appoint another person or persons
as his/her proxy or proxies to exercise all or any of his/her rights to attend, participate, speak and vote at the meeting of
members of the company. A proxy may but need not be a member of the Company and a member may appoint any person
to be his/her proxy without limitation. Where a member appoints more than one proxy, the appointments shall be invalid
unless he/she specifies the proportion of his/her holdings to be represented by each proxy.
4. A corporation which is a member may by a resolution of its Directors or other governing body authorises such person as it
thinks fit to act as its representative at the Meeting, in accordance with the Constitution of the Company.
5. The instrument appointing a proxy/representative shall be in print or writing under the hand of the appointer or his/her duly
constituted attorney, or if such appointer is a corporation, under its common seal or the hand and seal of its attorney.
6. The instrument appointing a proxy and the power of attorney or other authority, if any, under which it is signed or notarially
certified copy of that power or authority shall be deposited at the Registered Office of the Company at Malaysia Airports
Corporate Office, Persiaran Korporat KLIA, 64000 KLIA, Sepang, Selangor Darul Ehsan not less than forty-eight (48) hours
before the time appointed for holding the Meeting or any adjournment thereof. The instrument appointing a proxy may
also be lodged electronically via e-Portal. Kindly refer to the AGM Administrative Guide on the procedure to submit the
instrument appointing a proxy electronically.
Voting by Poll
7. Pursuant to Paragraph 8.29A(1) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (“MMLR”), all
resolutions set out in the Notice of the 22nd AGM would be put to vote by way of poll.
Annual Report 2020
8. The Annual Report 2020 and other accompanying documents:

a. are available online on the Company’s website at https://mahb.listedcompany.com/ar.html;
b. are available online on Bursa Malaysia Securities Berhad’s website at https://www.bursamalaysia.com/ under the
Company’s announcements; and
c. will be sent by electronic mail to the shareholders who have maintained their email address in the Record of Depositors
with Bursa Malaysia Depository Sdn Bhd.
Members Entitled to Participate
9. In determining a member who shall be entitled to participate in the 22nd AGM in accordance with Rule 52(1) of the
Constitution of the Company and Section 34(1) of the Securities Industry (Central Depositories) Act 1991 (“SICDA”), the
Company shall request Bursa Malaysia Depository Sdn Bhd to issue a Record of Depositors as of 24 May 2021. Only a
depositor whose name appears on the Record of Depositors as of 24 May 2021 shall be entitled to participate and vote at
the Meeting or appoint proxies to participate and/or vote on his/her behalf.
10. The 22nd AGM is a private meeting between the directors, shareholders, proxies, duly authorised representatives and the
auditors. As such, non-shareholders are barred from participating in the Meeting.
11. Shareholders’ attention is hereby drawn to the MMLR, which allows a member of the Company who is an exempt authorised
nominee as defined under SICDA and holds MAHB Shares for multiple beneficial owners in one (1) securities account
(“Omnibus Account”) to appoint multiple proxies in respect of each Omnibus Account it holds.
Explanatory Note A
12. The Audited Financial Statements are laid in accordance with Section 340(1)(a) of the CA 2016 and meant for discussion only
as they do not require shareholders’ approval pursuant to Section 251(1) of the CA 2016. As such, this agenda item is not to
be put forward for voting.
Explanatory Note B for Ordinary Resolution 1
13. Section 230(1) of the CA 2016 provides amongst others, that “the fees” of the directors, and “any benefits” payable to the
directors of a listed company and its subsidiaries shall be approved at a general meeting. In this respect, the Board has
agreed that the shareholders’ approval shall be sought at the 22nd AGM on the Directors’ fees and benefits payable with
effect from 3 June 2021 until the next AGM in 2022 (“Relevant Period”).
14. Shareholders’ approval is to be sought on the payment of Directors’ fees and benefits of an amount up to RM5,000,000.00
to the NED throughout the Relevant Period as follows:
a. The payment of Directors’ fees for NED for the Relevant Period is based on the following fee structure:
No. Description Chairman NED
1. Directors’ fees for the Company RM18,000 per month RM12,000 per month
2. Directors’ fees for the Company’s subsidiaries RM4,000 per month RM3,000 per month
b. The Directors’ benefits payable for NED for the Relevant Period comprises the following:
1. Senior Independent Director Allowance of the N/A RM1,000

Company (per month)
2. Meeting Allowance (per meeting):

a. The Company
i. Board RM5,000 RM3,000
ii. Board Committees RM4,000 RM2,000
iii. Other Committees RM1,500 RM1,000
b. Board of the Company’s Subsidiaries RM1,500 RM1,200
c. Board Committees of the Company’s

Subsidiaries
(i) İstanbul Sabiha Gökçen Uluslararası RM2,500 RM2,000
Havalimanı Yatırım Yapım ve İşletme
A.Ş. (“ISG”); and SGC Havalimanı
İşletmeleri Ticaret ve Turizm A.Ş.
(“SGC”)#
3. Other Benefits and Entitlements Directors’ appreciation gift, out of pocket expenses, car
allowance*, entertainment allowance*, personal assistance
allowance*, petrol, toll, IT and telecommunication devices,
club membership*, professional membership, privilege
cards and other customary benefits such as insurance and
medical coverage.
* For Chairman only.

# Deemed as one (1) meeting since the contents of the meetings are similar in nature and meetings are held on the same
day.
c. In determining the estimated total amount of Directors’ fees and benefits payable for the NED during the Relevant
Period, the Board has considered various factors including the number of scheduled and special meetings for the
Board, Board Committees and Boards of the Company’s subsidiaries and the number of NED involved in these
meetings based on the current number of NED as well as inclusion of provisional sum as a contingency for future
appointment of NED on the Boards of the Company’s subsidiaries and increase in the number of Board and Board
Committees meetings.
d. Payment of the Directors’ fees and benefits to the NED will be made on a monthly basis and/or as and when they are
incurred subject to the passing of the proposed Ordinary Resolution 1 at the 22nd AGM.
e. The Board is of the view that it is just and equitable for the NED to be paid the Directors’ fees and benefits payable
on a monthly basis and/or as and when they are incurred, particularly after the Directors have discharged their
responsibilities and rendered their services to the Company and its subsidiaries throughout the Relevant Period.
f. In the event where the payment of Directors’ fees and benefits during the Relevant Period exceeds the estimated
amount sought to be approved in the 22nd AGM, a shareholders’ approval shall be sought at the next AGM in 2022 on
the payment of the additional amount.
g. Ordinary Resolution 1 is proposed in accordance with Rule 114 of the Constitution of the Company, and if passed,
shall take effect from 3 June 2021.
Explanatory Notes C, D and E for Ordinary Resolutions 2, 3 and 4

15. Rule 132 of the Constitution of the Company stipulates that any newly appointed Director shall hold office only until the next
AGM of the Company at which the Director is due to retire and shall be eligible for re-election.
16. On 11 August 2020, the Board approved the appointment of Dato’ Seri Diraja Dr. Zambry Abd Kadir as the Chairman/
Non-Independent Non-Executive Director of the Company. Dato’ Seri Diraja Dr. Zambry Abd Kadir was nominated by the
Minister of Finance (Incorporated), the Special Shareholder of the Company, as its representative. His appointment took
effect on 12 August 2020.
17. On 24 September 2020, the Board approved the appointment of Dato’ Mohamad Nasir Ab Latif as the Non-Independent
Non-Executive Director of the Company. Dato’ Mohamad Nasir Ab Latif was nominated by the Employees Provident Fund
as its representative. His appointment took effect on 1 October 2020.
18. On 23 April 2021, the Board approved the appointment of Normah Osman as the Non-Independent Non-Executive Director
of the Company. Normah Osman was nominated by the Minister of Finance (Incorporated), the Special Shareholder of the
Company, as a representative of the Ministry of Transport. Her appointment took effect on 26 April 2021.
19. Pursuant to Rule 132, Dato’ Seri Diraja Dr. Zambry Abd Kadir, Dato’ Mohamad Nasir Ab Latif and Normah Osman are
standing for re-election at the 22nd AGM.
20. The Board has conducted an assessment on the Directors who are seeking re-election under Rule 132 at the 22nd AGM
inclusive of their skills, experience, character, integrity, competency and contribution. The Board agreed that the Directors
have met the Board’s expectation by continuously performing their duties diligently as Directors of the Company and
hereby recommends the re-election of Dato’ Seri Diraja Dr. Zambry Abd Kadir, Dato’ Mohamad Nasir Ab Latif and Normah
Osman at the 22nd AGM.
21. The profiles of Dato’ Seri Diraja Dr. Zambry Abd Kadir, Dato’ Mohamad Nasir Ab Latif and Normah Osman are available in
the “Board of Directors’ Profile” section of the Annual Report 2020.
Explanatory Notes F, G and H for Ordinary Resolutions 5, 6 and 7

22. Rule 134 of the Constitution of the Company expressly states that at the AGM in every subsequent year, at least one-third
of the Directors for the time being or the number nearest to one-third shall retire from office. The retiring Directors shall be
eligible for re-election and shall act as the Directors throughout the meeting at which he or she retires.
23. Pursuant to Rule 134, Dato’ Ir. Mohamad Husin, Datuk Azailiza Mohd Ahad and Ramanathan Sathiamutty, who are retiring
from office, are standing for re-election at the 22nd AGM.
24. The Board has conducted an assessment on the independence of the Directors who are seeking re-election under Rule 134
at the 22nd AGM inclusive of their skills, experience, character, integrity, competency and contribution. The Board is satisfied
that they have complied with the independence criteria as required by the MMLR and continue to bring independent
and objective judgement to the Board. The Board also agreed that the Directors have met the Board’s expectation by
continuously performing their duties diligently as Directors of the Company and hereby recommends the re-election of
Dato’ Ir. Mohamad Husin, Datuk Azailiza Mohd Ahad and Ramanathan Sathiamutty at the 22nd AGM.
25. The profiles of Dato’ Ir. Mohamad Husin, Datuk Azailiza Mohd Ahad and Ramanathan Sathiamutty are available in the
“Board of Directors’ Profile” section of the Annual Report 2020.
Explanatory Note I for Ordinary Resolution 8

26. The Board Audit Committee and the Board have considered the re-appointment of EY as Auditors of the Company and
collectively agreed that EY has met the relevant criteria prescribed under Paragraph 15.21 of the MMLR.
Explanatory Note J for Ordinary Resolution 9

27. As of the date of the Notice, the Company has issued a total of 49,833,561 MAHB Shares pursuant to the implementation of
the DRP as approved by the shareholders at the EGM held on 30 November 2012. The authority to allot MAHB Shares pursuant
to the DRP was first granted on 30 November 2012 and subsequently at the 14th, 15th and 16th AGM held on 28 March 2013,
20 March 2014 and 5 May 2015, respectively.
28. The above proposed Ordinary Resolution, if passed, would allow the Company to allot and issue new MAHB Shares pursuant
to the DRP from the 22nd AGM until the convening of the next AGM. It would also allow the Directors to fix the issue price of
such new MAHB Shares at a discount of up to 10% of the adjusted five (5)-day VWAP of MAHB Shares immediately before
the price-fixing date. The 5-day VWAP of MAHB Shares shall be adjusted ex-dividend before applying the aforementioned
discount in fixing the issue price of such new MAHB Shares.
29. The above proposed Ordinary Resolution, if passed, would allow the Directors and the Company Secretary to act on behalf
of the Company in executing and giving effect to all the relevant and necessary transactions, arrangements and documents
pertaining to the implementation of the DRP in the interest of expedience and efficiency subject always to the best interest
of the Company.
Statement Accompanying
Pursuant to Paragraph 8.27(2) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad:
1. Directors who are retiring pursuant to Rule 132 of the Constitution of the Company and seeking re-election are:
a. Dato’ Seri Diraja Dr. Zambry Abd Kadir;

b. Dato’ Mohamad Nasir Ab Latif; and
c. Normah Osman.
2. Directors who are retiring pursuant to Rule 134 of the Constitution of the Company and seeking re-election are:
a. Dato’ Ir. Mohamad Husin;

b. Datuk Azailiza Mohd Ahad; and
c. Ramanathan Sathiamutty.
The profiles of the above Directors and details of their interest in the securities of the Company are set out in the section titled
“Board of Directors’ Profile” and “Statement of Shareholdings” of the Annual Report 2020.
AGM Administrative Details
22ND ANNUAL GENERAL MEETING (“22ND AGM” OR “THE MEETING”) OF

MALAYSIA AIRPORTS HOLDINGS BERHAD (“MAHB” OR “THE COMPANY”)
Date : Wednesday, 2 June 2021

Time : 11:00 a.m.
Broadcast Venue : Gateway Ballroom, Level 1, Sama-Sama Hotel, KL International Airport, Jalan CTA 4B, 64000 KLIA,
Precautionary Measures Against the Coronavirus Disease 2019 (“COVID-19”)

• To ensure the best health and physical distancing practices as part of the precautionary measures in light of the COVID-19
pandemic, the 22nd AGM will be conducted on a fully virtual basis through live streaming and remote participation and
voting facilities via Securities Services e-Portal (“e-Portal”) at https://sshsb.net.my provided by SS E Solutions Sdn Bhd
(“SSES”) as guided by the Securities Commission Malaysia’s Guidance and FAQs on the Conduct of General Meetings for
Listed Issuers dated 18 April 2020 (Revised on 5 March 2021) (“SC Guidance Note”).
• The Broadcast Venue of the 22nd AGM is strictly for the purpose of complying with Section 327(2) of the Companies Act 2016
and SC Guidance Note which require the Chairman of the Meeting to be present at the main venue of the Meeting. Having
regard to the well-being and safety, the shareholders/proxies/authorised representatives will not be allowed to be physically
present at the Broadcast Venue on the day of the 22nd AGM.
Refreshment and Door Gift

There will be no refreshment and door gifts provided for participation in the 22nd AGM.
Procedures for Remote Participation and Voting via e-Portal

• Please follow the procedures below to engage in remote participation and voting at the 22nd AGM via e-Portal:
a. Before the day of the 22nd AGM
Procedure Action
Sign up for a user account • Visit https://sshsb.net.my/login.aspx

if you do not have a user • Click “Register Now” to sign up for a user account.
account with the e-Portal
• Wait for a notification e-mail that will be sent within one (1) working day.
• To register for remote
participation at the 22nd • Verify your user account within seven (7) days upon receipt of the notification
AGM, please sign up for a e-mail and log in, failing which will require you to re-register.
user account by Monday,
• Note that the e-Portal is available to:
31 May 2021.
• To submit the e-Proxy Form, - Individual shareholder; and
please sign up for a user - Authorised representative of a corporate shareholder.
account by Thursday, 27
May 2021, failing which
you may only be able to
submit the hard copy proxy
form.
(If you already have a user

account, you are not required to
register again.)
Procedure Action
Register for remote • Log in to https://sshsb.net.my/login.aspx with your registered e-mail and
participation at the 22nd AGM password.
• Look for “Malaysia Airports Holdings Berhad” under Company Name
and “22nd AGM on 2 June 2021 at 11:00 a.m. - Registration for Remote
Participation” under Corporate Exercise/Event and click “>”.
• Check if you are attending as:
- Individual shareholder; or
- Corporate or authorised representative of a body corporate.
For body corporates, the appointed corporate or authorised representative must upload
the evidence of authority (e.g. Certificate of Appointment of Corporate Representative,
Power of Attorney, letter of authority or other documents proving authority). All
documents that are not in English or Bahasa Malaysia must be accompanied by a certified
translation in English in one (1) file. The original evidence of authority and translation
thereof, if required, have to be submitted to SSES at Level 7, Menara Milenium, Jalan
Damanlela, Pusat Bandar Damansara, Damansara Heights, 50490 Kuala Lumpur, Wilayah
Persekutuan for verification by Monday, 31 May 2021 at 11:00 a.m.
• Read and agree to the Terms & Conditions of Use and Privacy Policy and submit
your registration.
• A copy of your e-Registration for remote participation can be accessed via “My
Records” (refer to the left navigation panel).
• Your registration will apply to all the CDS account(s) of each individual
shareholder or body corporate shareholder that you represent. If you are both
an individual shareholder and representative of body corporate(s), you need to
register as an individual and also as a representative for each body corporate.
• System will send an e-mail notification that the request for remote participation
is received and will be verified.
• After verification of your registration against the Record of Depositors as
of 24 May 2021, the system will send you an e-mail to approve or reject your
registration for remote participation.
Procedure Action
Submit e-Proxy Form • Log in to https://sshsb.net.my/login.aspx with your registered e-mail and
• Submission would close on password.
Monday, 31 May 2021 at • Look for “Malaysia Airports Holdings Berhad” under Company Name “22nd
11:00 a.m. AGM on 2 June 2021 at 11:00 a.m. – Submission of Proxy Form” under
Corporate Exercise/Event and click “>”.
• Check if you are submitting as:
- Individual shareholder; or
- Corporate or authorised representative of a body corporate.
For body corporates, the appointed corporate or authorised representative must upload
the evidence of authority (e.g. Certificate of Appointment of Corporate Representative,
Power of Attorney, letter of authority or other documents proving authority). All
documents that are not in English or Bahasa Malaysia must be accompanied by a certified
translation in English in one (1) file. The original evidence of authority and translation
thereof, if required, have to be submitted to SSES at Level 7, Menara Milenium, Jalan
Damanlela, Pusat Bandar Damansara, Damansara Heights, 50490 Kuala Lumpur, Wilayah
Persekutuan for verification by Monday, 31 May 2021 at 11:00 a.m.
• Enter the CDS account number. Then enter the information of your proxy(ies)
and the proportion of your securities to be represented by your proxy(ies).
• You need to submit your e-Proxy Form for every CDS account you have or
represent.
• You are strongly encouraged to appoint the Chairman of the Meeting as
your proxy if you are not able to participate remotely.
• Proceed to indicate how your votes are to be cast against each resolution.
• Review and confirm your proxy form details before submission.
• Read and agree to the Terms & Conditions of Use and Privacy Policy and submit.
• A copy of your submitted e-Proxy Form can be accessed via “My Records”
(refer to the left navigation panel).
b. On the 22nd AGM Day
Procedure Action
Join the Live Stream Meeting • Log in to https://sshsb.net.my/login.aspx with your registered e-mail and
(“eLive”) password.
• Assess to eLive will open on • Look for “Malaysia Airports Holdings Berhad” under Company Name “22nd
Wednesday, 2 June 2021 AGM on 2 June 2021 at 11:00 a.m. – Live Stream Meeting” and click “>“.
at 10:30 a.m.
• Read and agree to the Terms & Conditions of Use and Privacy Policy and proceed
to the live stream meeting.
• Use the text box of the live streaming video to transmit your question to the
Chairman/Board. The Chairman/Board will endeavour their best to broadcast
your question and its answer related to the financial performance and resolutions
tabled at the 22nd AGM.
• Take note that the quality of the live streaming is dependent on the stability of
the internet connection at the location of the user.
Vote online remotely during • If you are already accessing the eLive, click “Proceed to Vote” under the live
the Meeting (“eVoting”) stream player on your screen; or
• Assess to eVoting will open • If you are not accessing from the eLive and have just logged in to the e-Portal,
on Wednesday, 2 June look for “Malaysia Airports Holdings Berhad” under Company Name and
2021 at 11:00 a.m. and
“22nd AGM on 2 June 2021 at 11:00 a.m. – Remote Voting” under Corporate
close as directed by the
Chairman of the Meeting. Exercise/Event and click “>”.
• Cast your votes for each resolution by clicking on the radio button under “For”,
“Against” or “Abstain”.
• Read the Terms & Conditions of Use and Privacy Policy and check “√” to confirm
that you acknowledge and agree to the Terms & Conditions of Use and Privacy
Policy.
• Review your indicated votes.
• Confirm and submit the votes.
• Your votes cast will apply throughout all the CDS accounts you represent as
an individual shareholder, corporate or authorised representative and proxy.
Where you are attending as a proxy and the shareholder who appointed you has
indicated how the votes are to be cast, we will take the shareholder’s indicated
votes in the proxy form.
• A copy of your submitted eVoting can be accessed via “My Records” (refer to
the left navigation panel).
• Participants of the 22nd AGM will need to ensure to be connected to the internet at all times in order to participate and vote
throughout the entire proceedings of the 22nd AGM.
• Please note that the e-Portal is best viewed on the latest versions of Chrome, Firefox, Edge and Safari browsers.
• Participants of the 22nd AGM are reminded that strictly no recording or photography of the proceedings of the 22nd AGM is
allowed.
Entitlement to Participate and Vote

Only a depositor whose name appears on the Record of Depositors as of 24 May 2021 shall be eligible to participate and vote at
the 22nd AGM or appoint proxies to participate and/or vote on his/her behalf.
Voting at the 22nd AGM

• The voting at the 22nd AGM will be conducted by poll in accordance with Paragraph 8.29A of Bursa Malaysia Securities
Berhad’s Main Market Listing Requirements.
• The Company has appointed SSES as the Poll Administrator to conduct the poll voting electronically and Commercial
Quest Sdn Bhd as scrutineers to verify the poll results.
• Shareholders can proceed to vote on the resolutions before the end of the voting session which will be announced by the
Chairman of the Meeting and submit votes at any time from the commencement of the 22nd AGM at 11:00 a.m.
Results of the Voting

Results of the voting on the resolutions proposed at the 22nd AGM will be announced at the Meeting and subsequently, via an
announcement made by the Company through Bursa Malaysia Securities Berhad’s website at https://www.bursamalaysia.com/
Annual Report 2020

The Annual Report 2020 and other accompanying documents:
• are available online on the Company’s website at https://mahb.listedcompany.com/ar.html
• are available online on Bursa Malaysia Securities Berhad’s website at https://www.bursamalaysia.com/ under the Company’s
announcements; and
• will be sent by electronic mail to the shareholders who have maintained their e-mail address in the Record of Depositors
with Bursa Malaysia Depository Sdn Bhd.
Enquiry
Should you require any assistance or clarification prior to the 22nd AGM, please do not hesitate to contact the following during
office hours on Monday to Friday from 8:30 a.m. to 5:30 p.m. (except on public holidays):
a. e-Portal
• Mr. Wong Piang Yoong at +603 2084 9168
• Ms. Lee Pei Yeng at +603 2084 9169
• Ms. Rachel Ou at +603 2084 9161
• General line at +603-2084 9000
b. MAHB at +603-8777 7000
PROXY FORM
Malaysia Airports Holdings Berhad
Registration No. 199901012192 (487092-W)
Incorporated in Malaysia
CDS Account No. No. of Shares Held
I/We NRIC No./Passport No./Company No.

[FULL NAME IN CAPITAL LETTERS]
of
[FULL ADDRESS]
being a Member(s) of MALAYSIA AIRPORTS HOLDINGS
BERHAD (“MAHB” or “the Company”), hereby appoint

NRIC No./Passport No.
of
[FULL ADDRESS]
or failing him/her .NRIC No./Passport No.

of
[FULL ADDRESS]
or failing him/her the CHAIRMAN OF THE MEETING as my/our proxy to vote for me/us on my/our behalf at the 22nd Annual General
Meeting (“22nd AGM” or “the Meeting”) of the Company to be held fully virtual via remote participation and electronic voting from the
Broadcast Venue at Gateway Ballroom, Level 1, Sama-Sama Hotel, KL International Airport, Jalan CTA 4B, 64000 KLIA, Sepang, Selangor
Darul Ehsan on Wednesday, 2 June 2021 at 11.00 a.m. for the following purposes:
(Please indicate with an ‘X’ in the space provided below for each resolution as how you wish your votes to be cast. If no specific direction as to voting is given, the proxy
will vote or abstain from voting on the resolutions at his/her discretion.)
NO. RESOLUTIONS FOR AGAINST

1. ORDINARY To approve the payment of Directors’ fees and benefits of an amount up to RM5,000,000.00 to the Non-Executive
RESOLUTION 1 Directors (“NED”) of the Group with effect from 3 June 2021 until the next AGM in 2021.
2. ORDINARY To re-elect Dato’ Seri Diraja Dr. Zambry Abd Kadir who shall retire in accordance with Rule 132 of the Constitution
RESOLUTION 2 of the Company and who being eligible, offers himself for re-election.
3. ORDINARY To re-elect Dato’ Mohamad Nasir Ab Latif who retires in accordance with Rule 132 of the Constitution of the
RESOLUTION 3 Company and being eligible, offers himself for re-election.
4. ORDINARY To re-elect Normah Osman who retires in accordance with Rule 132 of the Constitution of the Company and being
RESOLUTION 4 eligible, offers herself for re-election.
5. ORDINARY To re-elect Dato’ Ir. Mohamad Husin who retires in accordance with Rule 134 of the Constitution of the Company
RESOLUTION 5 and being eligible, offers himself for re-election.
6. ORDINARY To re-elect Datuk Azailiza Mohd Ahad who retires in accordance with Rule 134 of the Constitution of the Company
RESOLUTION 6 and being eligible, offers herself for re-election.
7. ORDINARY To re-elect Ramanathan Sathiamutty who retires in accordance with Rule 134 of the Constitution of the Company
RESOLUTION 7 and being eligible, offers himself for re-election.
8. ORDINARY To re-appoint Ernst & Young PLT (“EY”) as Auditors of the Company for the ensuing year and to authorise the
RESOLUTION 8 Directors to fix their remuneration.
9. ORDINARY To approve the proposed renewal of the authority to allot and issue new ordinary shares in MAHB (“MAHB
RESOLUTION 9 Shares”), for the purpose of the Company’s Dividend Reinvestment Plan (“DRP”) that provides the Shareholders
of MAHB (“Shareholders”) the option to elect to reinvest their cash dividend in MAHB Shares.
As witness my/our hands this __________ day of___________________ , 2021. Signature of Member/Common Seal
Notes:
1. In upholding the best health practices in light of the Coronavirus Disease 2019 shall be invalid unless he/she specifies the proportion of his/her holdings to be
(“COVID-19”) pandemic, the 22nd AGM will be held fully virtual through live represented by each proxy.
streaming and entirely via remote participation and electronic voting facilities via 4. A corporation which is a member may by resolution of its Directors or other
Securities Services e-Portal (“e-Portal”) at https://sshsb.net.my/ provided by SS E governing body authorises such person as it thinks fit to act as its representative
Solutions Sdn Bhd in the manner as guided by the Securities Commission Malaysia’s at the Meeting, in accordance with the Constitution of the Company.
Guidance and FAQs on the Conduct of General Meetings for Listed Issuers dated 5. The instrument appointing a proxy/representative shall be in print or writing under
18 April 2020 (Revised on 5 March 2021) (“SC Guidance Note”). Kindly refer to the hand of the appointer or his/her duly constituted attorney, or if such appointer
the AGM Administrative Guide on the conduct of a fully virtual 22nd AGM for is a corporation, under its common seal or the hand and seal of its attorney.
further details. 6. The instrument appointing a proxy and the power of attorney or other authority, if
2. The Broadcast Venue of the 22nd AGM is strictly for the purpose of complying with any, under which it is signed or a notarially certified copy of that power or authority
Section 327(2) of the Companies Act 2016 (“CA 2016”) and SC Guidance Note shall be deposited at the Registered Office of the Company at Malaysia Airports
which requires the Chairman of the Meeting to be present at the main venue of Corporate Office, Persiaran Korporat KLIA, 64000 KLIA, Sepang, Selangor Darul
the meeting. Having regard to the well-being and safety, shareholders/proxies/ Ehsan or you may fax to +03-8777 7512 not less than forty-eight (48) hours before
authorised representatives will not be allowed to be physically present at the the time appointed for holding the Meeting or any adjournment thereof. The
Broadcast Venue on the day of the 22nd AGM. instrument appointing a proxy may also be lodged electronically via e-Portal.
3. Section 334 of the CA 2016 provides that a member of a company shall be 7. Shareholders’ attention is hereby drawn to the Main Market Listing Requirements
entitled to appoint another person or persons as his/her proxy or proxies to of Bursa Malaysia Securities Berhad, which allows a member of the Company
exercise all or any of his/her rights to attend, participate, speak and vote at a which is an exempt authorised nominee, as defined under the Securities Industry
meeting of members of the company. A proxy may but need not be a member of (Central Depositories) Act 1991 and holds MAHB Shares in the Company for
the Company and a member may appoint any person to be his/her proxy without multiple beneficial owners in one (1) securities account (“Omnibus Account”) to
limitation. Where a member appoints more than one proxy, the appointments appoint multiple proxies in respect of each Omnibus Account it holds.
STAMP
The Company Secretary

64000 KLIA, Sepang
ANNUAL REPORT REQUISITION FORM
Dear Shareholders,
Thank you for your continued support for Malaysia Airports Holdings Berhad (MAHB). We are pleased to inform you that the full version
of the Annual Report 2020 of MAHB is also available in printed copy. Should you require a printed copy of the Annual Report 2020, please
complete this form and return it to the address below or fax to (+603) 8777 7512. A full version of the Annual Report 2020 shall be couriered
to you within four market days from the date of receipt of your request.
To : THE COMPANY SECRETARY

64000 KLIA, Sepang
I/We, am/are a Shareholder of MAHB and wish to request for a printed copy of the Annual Report 2020. Please send me/us a printed copy
of the Annual Report 2020 of MAHB at the following address:
Name of Shareholder : ______________________________________________________________________________________
NRIC No./Passport No./Company No. : ______________________________________________________________________________________
CDS Account No. : ______________________________________________________________________________________
Address : ______________________________________________________________________________________
Tel. No. : ______________________________________________________________________________________
__________________________
Signature of Shareholder
Date:
STAMP
The Company Secretary

64000 KLIA, Sepang
www.malaysiaairports.com.my
MALAYSIA AIRPORTS HOLDINGS BERHAD

Malaysia Airports Corporate Office,

Persiaran Korporat KLIA,
64000 KLIA, Sepang,
Selangor Darul Ehsan, Malaysia.
Tel : +603-8777 7000

Fax : +603-8777 7778
Malaysia Airports
@MY_Airports
malaysiaairports
Malaysia Airports
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Emerging

Amidst this landscape, Malaysia Airports continued to

This hard-won achievement would not have been possible

We are also extremely grateful to all airport frontliners

Our Value Creation Strategy

O u r G ove r n a n c e Addit ional Information

Scan to view our

About This Report

Section FY2020 Improvements

Our Value Creation Strategy Operating Environment and Outlook:

Reporting Suite and Framework

EmErging EMERGING EmErging

An n u a l F inanc ial Sustainability Airports

Scope and Boundary

About This Report

Concept of Value Creation and Materiality

Forward Looking Statement

Content Assurance Framework

Annual Financial Statements Reasonable assurance • Companies Act 2016

Financial Regulators and Government Vendors and Service Providers

Manufactured Employees Investors

Intellectual Airlines Local Community

Human Passengers The Media

st r a t e g i c t h e me s Airport Capacity Economic Performance

Survivability Total Airport Experience Integrity and Anti-Corruption

Fixing the Basics Digitalisation Transportation and Connectivity

Horizontal Expansion Airport Safety and Security Regulatory Compliance

Critical Asset Replacement

Governance and Process Human Capital

Dato’ Seri Diraja

Our approach in handling the pandemic was to be agile,

Although this financial year was the first loss-making year

As an airport operator, readiness is a byword in the business.

Consequently, the KUL COVID-19 Committee was formed

The plan called for capital expenditure to be reduced by 80%

Speed government of Malaysia, the Turkish Ministry of Defence

Despite the challenges of the operating environment, Malaysia

cashflow in 2020, as well as to keep costs in line with revenue

We also reached out to our airline partners to prepare for the

Keeping the growth momentum

In addition to shaping our pandemic response, our positive

Our determination and persistence in making the holistic

E-commerce joint venture with Alibaba takes off

It was also a proud moment for us when the Cainiao Aeropolis

Gold sustainability rating New and emerging risks

on the frontlines of this pandemic, risking their lives for the

We also express our sincere appreciation to shareholders and

I would also like to make a special acknowledgement of

We have made tremendous progress thanks to the spirit of

Although this year has brought tremendous challenges, our

Dato’ Seri Diraja Dr. Zambry Abd Kadir

FY2020 Key Highlights

Scope FY2020 FY2019 FY2018

Group Financial Performance

EBITDA (RM'mil) Group 21.6 2,292.0 2,383.5

Profit for the Year (RM'mil) Group (1,116.2) 537.0 727.3

Total Equity (RM'mil) Group 8,099.3 9,325.4 9,140.7

Group Aircraft Movements Group 600,073 1,281,000 1,232,735

Group Cargo Movements (metric tonnes) Group 834,718 1,003,000 1,037,370