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A BREAKTHROUGH YEAR

ANNUAL REPORT 2023

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MALAYSIA AIRPORTS AT A GLANCE

AGRICULTURE AND HORTICULTURE

Cultivate and manage oil palm and other agricultural products, and undertake horticulture activities, primarily landscaping services and products

Total Revenue
RM 31.6 million
Profit Before Tax and Zakat
RM 2.1 million
Oil Palm Planted Area
RM 6,247.1 ha
Fresh Fruit Bunches
RM 36,724.5 MT

AIRPORT SERVICES

Manage, operate and maintain airports, and provide airport-related services to ensure that airports operate efficiently, safely and securely with high service levels

Total Revenue
RM 4,045.5 million
Malaysia
RM 2,284.2 million
Overseas
RM 1,761.3 million
Profit Before Tax and Zakat
RM 510.8 million
Malaysia
RM 136.0 million
Overseas
RM 374.8 million
Group Passenger Traffic Movements
Malaysia
81.9 million

55.4% from 2022

Türkiye
37.6 million

20.5% from 2022

DUTY FREE AND
NON-DUTIABLE GOODS

Operate duty-free outlets and provide management services for food and beverage outlets at designated airports

Total Revenue
RM 577.0 million
Profit Before Tax and Zakat
RM 21.1 million
Number of Retail Outlets
37
40
Number of Employees
620
631
Retail Area
13,033 sqm
12,352 sqm
20222023

PROJECT AND REPAIR MAINTENANCE

Offer consultancy, facility management services and maintenance of information and communication technology business ventures and provision of mechanical and electrical engineering

Total Revenue
RM 154.7 million
Malaysia
RM 54.6 million
Overseas
RM 100.1 million
Profit Before Tax and Zakat
RM 71.9 million
Malaysia
RM 61.6 million
Overseas
RM 10.3 million
Number of Employees
788
829
20222023

HOTEL

Manage and operate hotels

Total Revenue
RM 105.3 million
Profit Before Tax and Zakat
RM 17.0 million
Number of Hotels
4
Number of rooms
720
Breakdown of rooms
592
128
MalaysiaTürkiye

* Total Revenue and Profit Before Tax and Zakat is for hotels in Malaysia. Revenue for hotel in Turkiye is RM 23.6 million, which is reported under Airport Services.

TAN SRI DATUK ZAINUN ALI
Chairman

CHAIRMAN’S STATEMENT

TAN SRI DATUK ZAINUN ALI
Chairman

2023 was a breakthrough year for Malaysia Airports. Making progress on all fronts, we capped the year with a profit after tax that exceeded that of 2019, and set the Group on a focused growth trajectory.

In early 2024, we inked new Operating Agreements with the Government of Malaysia which affirm Malaysia Airports’ continued role of operating, managing, maintaining and developing the 39 airports and STOLports in Malaysia for the next 45 years until 2069.

Through a capital return mechanism in the new agreements, Malaysia Airports will have the flexibility to strategically invest in airport development and modernisation, and alleviate the financial burden on the Government.


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Passenger movements for operations in Malaysia reached
77.8 %
of 2019 levels

Passenger movements for operations in Türkiye exceeded
4.5 %
of above 2019 levels

Malaysia Airports recorded revenue
RM 4,914.2 million ,
57.2 % higher year-on-year

Revenue increased significantly by
60.6 %
year-on-year
RM 4,598.9 million

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    Mohamed Rastam Shahrom
    Acting Group Chief Executive Officer

    GROUP CEO's MESSAGE

    Mohamed Rastam Shahrom
    Acting Group Chief Executive Officer

    In a breakthrough year for Malaysia Airports, we resolved that our core strategic focus would be to delight passengers and reimagine their journey through our airports. Working in tandem with key airport stakeholders to enhance the passenger experience, we achieved several major milestones in our corporate journey.

    We take pride that our efforts in 2023 culminated in one of the most profitable years in the history of Malaysia Airports.


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    119.5 million
    passenger movements in 2023
    which was
    84.6 %
    of 2019’s all-time high

    RM 543.2 million
    profit after tax in 2023
    which was
    84.6 %
    of 2019’s all-time high

    Most Internationally Connected Airports

    KUL
    # 4
    globally
    SAW
    # 1
    in Asia Pacific
    SAW
    # 8
    in Europe

    Low-Cost Carrier Airport Megahubs

    KUL
    # 1
    globally

    Investing In Renewable Energy

    6
    airports including KUL tap on solar energy
    Reduce scope 2 emissions by
    15 %
    Solar farm in the works to provide over
    20 %
    of KUL's total energy needs

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      VALUE CREATION MODEL

      VALUE CREATION MODEL

      CAPITALS INPUTS

      • Financial Capital
      • Manufactured Capital
      • Intellectual Capital
      • Human Capital
      • Social Capital
      • Natural Capital

      Our Strategy

      OUTPUTS & OUTCOMES

      • Financial Capital
      • Manufactured Capital
      • Intellectual Capital
      • Human Capital
      • Social Capital
      • Natural Capital

      KEY BUSINESS ACTIVITIES

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      OUR APPROACH TO
      SUSTAINABILITY

      We share a collective responsibility with other industry players to ensure sustainable aviation practices. To this effect, Malaysia Airports has embarked on a crucial journey to enhance our sustainability framework, develop a comprehensive strategy and roadmap and engage with stakeholders towards achieving net-zero carbon emissions by 2050.

      - Tan Sri Datuk Zainun Ali, Chairman

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      • As one of the world’s largest airport operator groups, Malaysia Airports has taken steps to embrace sustainability initiatives that are environmentally conscious in its airport operations. The world’s resources are finite, and the consumption of these resources in our business activities has an impact on the environment and therefore, our Sustainability Policy reiterates the need for prudence in managing these resources.

        Explore Sustainability Review

        Net-Zero
        Carbon Emissions 2050 Pathway Launched May 2023

        Electric Ground Support Equipment
        ( in collaboration with Malaysia Aviation Group )
        A National First

        Completed installation of solar photovoltaic panels at BKI

        Group solar capacity
        22.5 MWp

        • The Group’s social agenda takes into consideration the human impact of our operations. As an employer of choice, we constantly examine how our business can positively impact our employees’ development, wellbeing and safety, promote diversity, champion human rights and enrich the communities in which we operate.

          Explore Sustainability Review

          Female representation in Malaysia Airports

          Board of Directors:
          40 %
          Employees:
          34 %

          Supporting Local Suppliers via local procurement
          RM 949.9 million
          96% local suppliers

          Community and Humanitarian Aid
          RM 29 million

          • Malaysia Airports is committed to promoting sound corporate governance practices and a culture of integrity and transparency throughout the Group. Good corporate governance is the bedrock that guides our strategic direction, decision-making process and accountability to enable the Group to deliver sustainable long-term value to stakeholders.

            Explore Sustainability Review

            Operations assessed for corruption-related risks
            100 %

            Boosting
            Cybersecurity
            capabilities

            Cybersecurity Acceleration Programme 2.0 launched

            2 new subsidiaries certified for Anti-Bribery Management Systems

            - MA Niaga and UTW

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