Hong Leong Investment Bank is optimistic Malaysia Airports Holdings Bhd (MAHB) would not be largely impacted by the recent restructuring of Malaysia Airlines which involved capacity cuts and termination of routes.
Maintaining its "buy" call on the group, Hong Leong Investment remained optimistic that MAHB passengers would grow about 4.9 per cent this year due to on-going promotions by AirAsia, commencement of new airlines and travel recovery especially in China.
In a research note today, Hong Leong Investment was also positive on the commencement of Mitsui Outlet Park as it enhanced MAHB's earnings profile and marked its initiative to develop the surrounding Sepang Airport land into a self-sustaining KL Aeropolis in the longer-term.
"We are not overly concerned about potential cannibalisation from Mitsui Outlet Park to KLIA and KLIA2 retail sales, given the differentiation in targeted market segment.
"Do note that Mitsui Outlet Park offers off-season or dated products at discounts up to 30 per cent as compared to normal retails in KLIA and KLIA2 offering latest products," it added.
Bernama
Wed Jun 10 2015
Hong Leong Investment was also positive on the commencement of MOP as it enhanced MAHB's earnings profile and marked its initiative to develop the surrounding Sepang Airport land into a self-sustaining KL Aeropolis in the longer-term. - File Photo
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