meeting - ChartNexus

CHAIRMAN’S STATEMENT
Miri airports. MAHB’s own retail business
grew by 5.50% to RM304.90 million, while
revenue derived from rental of space
and advertising grew by 29.47% to
RM321.75 million.
During the year, revenue from MAHB’s
non-airports segment increased by
11.81% to RM233.94 million. This resulted
from increased contributions from event
management and hotel services, as well
as a significant growth of 37.78% in the
agriculture business.
The Group’s strong performance is
reflected in the movement of its counter
on Bursa Malaysia. Compared with other
listed regional airports, MAHB counter
has displayed a strong defensive nature
to hold its own amidst volatile market
conditions. It has consistently performed
well above the Kuala Lumpur Composite
Index throughout 2008.
DIVIDENDS
MAHB is committed to enhancing
shareholders’ value, as demonstrated in
the past years with a dividend payout
policy to pay at least 50% of the
Group’s profit after tax and minority
interest, subject to the availability of
distributable reserves.
The Board has already announced an
interim dividend of 4 sen per share and
is now proposing a gross final dividend
of 14.5 sen per share, subject to the
approval of shareholders at the
forthcoming Annual General Meeting.
If approved, the total dividend of
18.5 sen per share for FY2008 will be
much higher by 0.7 sen per share as
compared to the total dividend paid of
17.8 sen per share for FY2007.
040
Annual Report 2008
CORPORATE DEVELOPMENTS
On 23 December 2008, the Cabinet
approved MAHB’s financial restructuring
plan, which will set the stage for the
Group’s new direction and business
philosophy going forward.