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[公司专区] 5014 AIRPORT 大馬機場

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发表于 2013-4-29 22:31 | 显示全部楼层
大馬機場下半年盈利料走低
2013-04-29 17:26



(吉隆坡29日訊)大馬機場(AIRPORT,5014,主板貿服組)首季業績取得開門紅,盈利表現略超預期,不過份析員普遍認為第二吉隆坡國際機場(KLIA2)延後啟用已成定局,這可能令建築成本超支和商業收入減少,惟折舊攤銷費用也相對降低,從而淡化此衝擊。

MIDF研究指出,國際飛航增加以及聯號虧損降低,帶動大馬機場首季核心盈利揚升10.7%至1億2千610萬令吉。

該行指出,第二吉隆坡國際機場的資本開銷可獲60%稅務獎掖,而該公司正申請100%免稅,大馬機場未來5年可省下5億8千500令吉至9億7千500萬令吉,從而改善營運現金流。

大馬機場的飛航量取得11%的雙位數成長,表現超越區域同行。該行調整成長預測和將2013至2014財政年的盈利預測上修7.7%和4.2%。

豐隆研究表示,若不包含1千970萬令吉的建築盈利,大馬機場首季核心淨利共1億零640萬令吉,相等於全年財測的29.5%。


KLIA2營運提高成本

該行預料大馬機場下半年盈利將走低,因第二吉隆坡國際機場營運將帶來更高的啟用成本。

肯納格研究認同,下半年由於不再有建築盈利,大馬機場的盈利將會降低。新機場預訂在6月中竣工,到時預料該公司將把更多建築盈利入賬,從而令上半年盈利將占全年盈利的重大比例。

不過,管理層無法承諾第二吉隆坡國際機場的確實啟用日期,顯示將會展延,新機場在建竣後需2至3個月時間來進行系統準備工作。

MIDF研究表示,新機場目前已完成87%,預料要到5月杪或6月初才竣工,再加上3個月的測試期,相信新機場只在9月或10月才正式運作。

新機場全面啟用日期展延,將影響大馬機場的商業營收如租金和零售花費,但其攤銷費用也將隨之延後認列。

馬銀行研究表示,管理層雖表示希望新機場可在5月28日啟用,但相信延期啟用已是無可避免。

新機場的啟用日期極為關鍵,因每展延一個月,2013年盈利預測將調高1千680萬令吉或7.1%,而2014年盈利將降低,因折舊和利息持續增加。


新機場料9月開張

據該行從承包商取得的消息顯示,新機場料到8月杪或9月才正式開張。

安聯研究則認為,新機場可能會展延6個月,只在明年1月才展開商業運作,這將令其飛航及租金收入減少,但正面而言,這將令其現財政年的折舊和營運開銷降低。

據大馬機場管理層表示,將從第二季起支付使用費(user fee)給大馬政府,這將影響其收入,由於此費用按年增加了78.8%,分析員預期大馬機場的淨利將受拖累。此外,由於建築工程延後完工而導致成本超支,預期新機場的建築成本將從39億令吉升高至44億令吉。

安聯研究對該股長期基本面仍感樂觀,並相信這已反映在其高估值上,新機場的龐大資本開銷和初始成本可能限制該公司在短期派發更高股息的能力,因此對該股持“中和"評級。


(星洲日報/財經)

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发表于 2013-4-30 08:00 | 显示全部楼层
新機場料9月開張??!!  

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发表于 2013-4-30 16:28 | 显示全部楼层
分析员: klia2 料延后启用 大马机场可撑成本超支
财经新闻 财经  2013-04-30 13:59

截至目前, 大马机场已支付负责建设新廉航终站的承包商约32亿令吉。

(吉隆坡29日讯)市场对大马机场(Airport,5014,主板贸服股)2013财年首季业绩看法正面,唯管理层无法确保新廉航终站(klia2)原定的启用日期,或意味集团面对成本超支问题。
大马2013财年首季核心净利1亿1950万令吉,按年扬23.6%,按季跌17.4%。
随着交通流量增加和成本控制得宜,让大马机场业务持稳。更多新航空公司今年次季加入飞航,将进一步推高交通流量。
只重申6月杪竣工
此外,海外乘客量来马增加,支付高新服务费(PSC),刺激集团的平均乘客收入至3290万令吉。
鉴于马航(MAS,3786,主板贸服股)和亚洲航空(AirAsia,5099,主板贸服股)增加往海外的承载量,将继续带动大马机场的乘客收入。
管理层早前在分析员汇报会上,无法厘清新廉航终站开始营运之日,只重申6月杪能竣工。这符合市场所预期———新廉航终站延后开张在所难免。
大部分券商都预期,尽管新终站今年6月杪竣工,仍需要3至6个月试跑系统,同时让航空公司把营运转来新终站,故最快要到今年9月甚至明年1月份,方可投入运作。
截至目前,大马机场已支付负责建设新廉航终站的承包商约32亿令吉。管理层也重申,建设成本将可限制在原定的40亿令吉。
安联研究分析员不排除展延开张新终站,或导致成本超支至44亿令吉;不过大马机场财务能力良好,足以撑过成本超支的状况。案资产负债表强稳,可从目前0.6倍提高负债率至1.25倍。
影响现金流和派息力
大马机场将为投入新终站的资本开销,索求投资税务补贴(Investment Tax Allowance),但有碍于建筑成本迄今未结算,无法向当局递交申请。
MIDF研究分析员估计,集团未来5年可省下5亿8500万令吉至9亿7500万令吉,间接提升营运现金流。
此外,新终站的折旧与营运开销低,可抵消新终站无法如期贡献租金和航空收入的损失。
联昌国际投行分析员不排除新终站展延开张,或影响股价涨势,但长期基本面良好,加上新航线加入航空领域与航空公司扩充承载量,可带动集团的新服务费营收。
安联研究分析员调升2013财年盈利预测10.6%至3亿6440万令吉,但2014财年盈利下调4.4%至3亿4680万令吉。
无论如何,他看好集团长期基本面,可是新终站巨额资本开销压迫现金流,或影响派息能力。

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发表于 2013-4-30 21:29 | 显示全部楼层
马机场股价料受拖累 新机场若延迟落成
April 30, 2013
国内财经


(吉隆坡29日讯)马银行投资银行维持大马机场(Airport,5014,贸易服务组)的买入评级以及每股6.60令吉的目标价格,并认为吉隆坡第二国际机场或展延的不利因素,将影响大马机场的股价表现。


该行在简短的报告中指出,大马机场2013年首季的核心营运收入达1亿1千950万令吉(按年增长23.6%),超过该行和市场的预测。

“大马机场的乘客成长率取得8.7%,表现超越预测的7-8%。”
马银行投资银行说,多家航空公司在2013财年第二季有新的计划,且吉隆坡国际机场是2013年首季亚洲国发展最快的机场,预计大马机场的表现将好转。

“鉴于吉隆坡第二国际机场启用的日期未定,因此我们维持对大马机场的盈利预测。”

“这启用日期是非常关键的因素,每个月的延迟将抬高我们对大马机场2013财年的盈利预测1千680万令吉(7.1%),并鉴于资本折旧和吉隆坡第二国际机场的因素而削减对其2014财年的盈利预测。”

闭市时,大马机场报6.02令吉,全天起2仙或0.33%,成交量达381万3千100。

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发表于 2013-5-2 17:27 | 显示全部楼层
创最佳3 月表现 大马机场乘客增11.4%
财经新闻 财经  2013-05-02 12:54
(吉隆坡1日讯)大马机场(Airport,5014,主板贸服股)2013年3月份和首季乘客人次,分别按年增长11.4%及8.7%。
大马机场表示,今年3月份录得630万乘客人次,创下大马机场有史以来表现最优异的3月份,其中国际乘客按年增加15%,本地乘客则增加8.1%。
“今年首季的乘客人次增长,远超过全球交通流量的增长。大马机场和我国政府努力吸引更多航空公司和增加旅游景点,如今开始尝到成果。国内和海外航空公司的乘客量,也都在今年首季录得双位数增长。”
至于飞机起降次数,3月份较上财年增加8.8%;今年首季则扬升7.3%。大马机场首季处理高达21万4787公吨空运货物,按年涨1.7%;而3月份货物空运量微扬0.9%。
“鉴于航空公司承载量增加与交通流量表现改善,加上近期经济趋势,我们预期今年将录得良好表现,特别是整体乘客量增长。”
另外,国际航空协会(IATA)预测,原油价未来或维持在每桶110美元水平;而欧洲经济状况和中国禽流感若不受控制,可能影响大马机场的表现。

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发表于 2013-5-5 16:16 | 显示全部楼层
上升股 大马机场 阻力RM6.24
股市 热股技术点评  2013-05-04 13:21
大马机场(Airport,5014,主板贸服股)周五行情不俗,价量兼得到扶持,早盘以6.05令吉平开,但闭市时高收6.23令吉,涨18仙或2.98%。
交投趋势反映出该股的反弹走势,短期上升阻力落在6.24-6.40令吉。

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发表于 2013-5-8 08:05 | 显示全部楼层
KLIA2 jobbers behind schedule
http://biz.thestar.com.my/news/s ... 28&sec=business

Wednesday May 8, 2013

KUALA LUMPUR: Malaysia Airports Holdings Bhd (MAHB) said the contractors for the new low-cost airline hub, klia2, may have difficulty in meeting the June 28 deadline.

In a filing with Bursa Malaysia, MAHB said the view was expressed by its board of directors at a meeting yesterday despite the commitment given by the contractors. It will soon meet the contractors again to confirm the ability of the contractors to meet the deadline. — Bernama

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发表于 2013-5-8 08:08 | 显示全部楼层
klia2 project to be delayed

Published: 2013/05/08

KUALA LUMPIUR: Malaysia Airports Holding Bhd (MAHB) said the opening of klia2, the new low-cost carrier terminal in Sepang, Selangor, will be delayed.

The RM4 billion terminal was scheduled to open on June 28.

MAHB said after a board meeting yesterday the management is of the view that the contractors for klia2 may have difficulties in meeting the June 28 deadline.

This is despite the commitment given by the contractors, MAHB said in a filing to Bursa Malaysia yesterday.

The main contractors for the klia2 project is UEM Construction Sdn Bhd, a unit of UEM Group Bhd, and joint-venture partner, Bina Buri Holdings Bhd.

"MAHB will be meeting the contractors again soon to confirm the ability of the contractors to meet the deadline," it said.

The airport operator did not indicate when klia2 will open or whether there will be a cost overrun.

CIMB Research has estimated that any delay will result in higher construction cost of around RM4.5 billion for the airport and lower commercial earnings for the aiport operator.

Read more: http://www.btimes.com.my/Current ... icle/#ixzz2Seg9cWLy

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发表于 2013-5-8 20:51 | 显示全部楼层
轉移過程耗時或超支 KLIA 2 料最早10月啟用  
財經8 May 2013 17:25

(吉隆坡8日訊)大馬機場控股(AIRPORT,5014,主要板貿易)終開口承認,第2吉隆坡國際機場(KLIA 2)不能如期在6月底竣工,券商預計或延遲3至6個月,新機場最早于今年10月至12月期間始能投入運作。

 馬銀行投銀研究認為,展延完工非壞事,但更關注新機場啟用準備與機場轉移過程所需的時間,這可能需時4至6個月,故預計新機場或在今年10月至12月才開放啟用。

 由于未公佈最新啟用日期,加上該股已近6.60令吉的目標水平,該行下修投資建議至“守住”,若該股大幅下跌,建議投資者可提高持股。

 艾芬投銀研究指出,截至4月底,新機場已完成90%工程,余下10%主要是內部工程,估計將展延3至6個月才能完工。

 隨著確定延期完工,該行相信建築成本將超支,不排除大馬機場控股或在不觸及1.25倍負債率限制的前提下,再籌資15億令吉。

 “該公司雖已獲得超過10億令吉信貸供融資余下建築經費,但近期內若有進一步籌資計劃,我們不感意外。”

 大馬機場控股目前負債率為0.7倍,該公司必須保持1倍負債率,才能保住AAA信貸評級。

目標價7令吉

 看好該公司將從日增的旅客和區域航空公司擴展計劃中受惠,艾芬投銀研究維持“買入”建議,目標價7令吉。

 大馬機場控股今日低開迎市,開市報6.36令吉,跌3仙,呈窄幅波動格局。至休市報6.37令吉,跌4仙,半日有48萬9500股易手。

 截至4時30分,該股掛6.21令吉,跌20仙,成交量204萬3900股。

WCT工程開高走低
機場附屬廣場延遲營運


第2吉隆坡國際機場確定延遲投運,WCT工程(WCT,9679,主要板建築)透過子公司持有、附屬機場的綜合購物廣場The Gateway料也延遲投運;WCT工程聞訊開高走低。

 該股開市起2仙,報2.60令吉,惜揚勢未見延續,很快即回吐漲幅,至休市報2.55令吉,跌3仙,交投活躍有185萬8900股易手。

 截至4時30分,WCT工程掛2.56令吉,跌2仙,成交量635萬1100股。

 上述新廉價航空機場已二度展延,從4月1日到延至6月28日。

 艾芬投銀研究指出,WCT工程管理層已確定,大馬機場控股將以現金或延長特許經營期限的方式,作為展延賠償。

 儘管如此,WCT工程透過子公司Segi

 Astana持有的上述廣場已達78%出租率,預計到了6月將提高到90%。

 該行維持2013至15財年的盈利預測和“買入”建議,目標價2.90令吉。

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发表于 2013-5-8 22:24 | 显示全部楼层
KLIA2延遲開幕‧大馬機場猛挫21仙

2013-05-08 17:24



(吉隆坡8日訊)大馬機場(AIRPORT,5014,主板貿服組)宣佈第二吉隆坡廉航機場(KLIA2)或無法趕在下月28日前開幕,分析員認為消息並不讓人意外,估計新機場最早料在第四季才可能啟用,惟不預見大馬機場被迫承擔額外超支成本。

大馬機場昨日宣佈其承包商面臨一些障礙,或導致新廉航機場難以在預定時間內開幕,市場投資情緒遭有關消息影響,導致大馬機場股價今日回軟,全天跌21仙至6令吉20仙,為全場最大下跌股。

馬銀行研究表示,類似KLIA2般的大型計劃常面對難以預見的挑戰,出現延遲情況並不稀奇。

“我們更關心新機場做營運準備和轉交的過程,一般得消耗4至6個月時間,因此,我們預料KLIA2可能在今年第四季才能開幕。"

無論如何,馬銀行在大馬機場提供更多消息前保持財測不變,納入利息和貶值因素做考量,KLIA2每展延1個月,將提昇2013財政年盈利7.1%,惟將拉低2014財政年盈利。

興業研究則估計KLIA2將延遲6個月開幕,惟由於工程展延乃承包商無法履行責任,並非由於設計方面問題,因此大馬機場不太可能承擔任何超支成本。


或獲取10億投資津貼

“此外,大馬機場可能獲取10億令吉投資津貼,或者經營權限期被延長,減輕新機場展延帶來的負面影響。"

興業說,大馬機場具備新機場和潛在地庫發展利好,雖然KLIA2延遲開幕影響投資情緒,惟該公司基本面和成長展望依然樂觀,建議投資者趁跌吸納該股。

(星洲日報/財經)

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发表于 2013-5-17 08:48 | 显示全部楼层
等了又等

評論  2013-05-16 13:50
原本興致勃勃期待吉隆坡國際機場廉航終站(KLIA2)能從今年6月28日起啟動,不料卻傳來無法在原定期限內投入營運的消息,為首相在大選前的宣佈猶如潑了一頭冷水。

這麼拖一拖,預計最快僅能在今年末季啟用,延遲完工的最主要原因是承包商方面面臨一些障礙,惟相信不會就此而蒙受巨大虧損。

這座主要為亞洲航空(AIRASIA,5099,主板貿服組)而建的新機場,是要應付日益增長的乘客流量,雖然半年的時間說長不長,但某個程度上卻可能影響市場的信心。

說了即將建竣,可投入服務了,但最終還免不了“種種因素"而延遲竣工。

所謂的“承包商障礙",為何在近乎“最後一分鐘"才對外公佈呢?

這類大型計劃的工程進度理應嚴密監督,當局應不時進行視察,特別是大馬機場(AIRPORT,5014,主板貿服組)應發揮最大的功效,確保各配套工程依據設定的時間表內完成。

一旦這類備受矚目的計劃出現任何臨時變卦,市場的想法永遠都是負面的,並對整個監督工作有所保留。

此時,官方的回答卻永遠是最精簡及含糊的,惟似乎都無法給市場一個最合理的解釋。

耗資36億令吉的KLIA2,標誌著國內另一項巨型計劃的落成,也體現了一個國家的“先進度"是否也相對提昇,而當中的透明度更是最大的關鍵。

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发表于 2013-5-20 19:31 | 显示全部楼层
各位大大小弟在大马机场2009年的cash flow里看到“Payment made to GoM”请问这是什么费用?

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发表于 2013-5-20 22:20 | 显示全部楼层
今年隆国际机场乘客料成长10%
財经 2013年5月20日

(吉隆坡20日讯)大马机场(AIRPORT,5014,主板贸服股)预计,吉隆坡国际机场的乘客人数將在今年杪,从去年的3990万名乘客成长10%。       

该集团高级营运总经理拿督阿兹米慕拉德指出,今年首季的乘客人数按年成长12%,达1420万人。

「我们採取许多措施以吸引航空公司来到吉隆坡国际机场,同时有助提振大马经济成长。」

阿兹米慕拉德在匯报会上,向媒体这么表示。

他补充,其中一项倡议就是为飞往新地点的班机提供免费停泊位置,加上大马机场的高负载率,亦將提升到访大马的乘客人数。

「这不仅是进一步提升吉隆坡国际机场的乘客人数,同时也是大马旅游业的另一项正面发展。」

阿兹米慕拉德透露,大马机场与大马旅游宣传局合作,在吉隆坡国际机场为乘客举办活动。

2014年为大马观光年,而大马机场已准备就绪迎接更多的旅客和乘客,包括提供前线员工和服务供应商或机场零售商特別培训,以確保游客会再次光临大马。

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发表于 2013-5-27 23:50 | 显示全部楼层
第二国际机场展延 潘俭伟指建费暴涨

(八打灵再也27日讯)民主行动党八打灵再也北区国会议员潘俭伟表示,第二吉隆坡国际机场建费在多番展延下,预料成本將从40亿令吉暴涨至50亿令吉。       

他说,若工程进展继续缓慢,原本在今年6月28日开幕的第二吉隆坡国际机场,甚至有可能拖到明年6月28日才能开幕。

潘俭伟今日在公正党总部与公正党副主席努鲁依莎召开联合记者会,要求大马机场公司公佈最新第二吉隆坡国际机场的建筑费及竣工日期等,向大眾交代。

他们也要求交通部成立独立稽查小组调查该机场的建费。

潘俭伟表示,由於无法见到前交通部长拿督斯里江作汉,希望现任代交通部长拿督斯里希山慕丁,能安排与他们会面。

儘管大马机场控股公司已表明机场將在5月1日竣工,6月28日由首相拿督斯里纳吉推介,但潘俭伟质疑是否能如期竣工。

他说,该机场的竣工日期从2009年至今已宣佈展延8次,即前交通部副部长拿督阿都拉欣在2009年10月30日宣佈机场將在2011年9月竣工、接著展延至2011年底竣工、大马机场控股公司董事经理丹斯里巴西尔接著宣佈展延至2012年初。

他指出,UEM集团董事经理拿督依扎丁后来宣佈展延至2012年4月、前交通部长江作汉宣佈展延至2012年10月、大马机场公司首席財务员法依扎宣佈展延至2013年5月,最后大马机场公司总经理法依扎凯鲁丁则宣佈今年6月会竣工。

潘俭伟说,据他了解,该新机场目前有计划借贷10亿令吉作为兴建费用,而兴建费则已暴涨4次,即江作汉在2007年7月22日宣佈机场兴建费为17亿令吉,至阿都拉欣在2012年宣佈机场费用为40亿令吉。

http://www.orientaldaily.com.my/ ... 549:&Itemid=113

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发表于 2013-5-29 10:02 | 显示全部楼层
Delay of klia2 will weaken MAHB, say analysts

29 May 2013

KUALA LUMPUR: The continuous delays in the opening of the low-cost carrier terminal klia2 are seen as a burden for Malaysia Airports Holdings
Bhd (MAHB), say analysts.

“A year’s delay would see MAHB forking out its cash reserve [of RM774.2 million] and possibly see it distributing a slightly lower dividend,” Mohshin Aziz of Maybank IB Research told The Edge Financial Daily yesterday.

According to a source close to the matter, the shopping mall consisting of 225 retail outlets is expected to be completed by the end of this year, and klia2 will most likely see a delay in its opening stretching to early-2014.

“We believe investors can still accept a six-month delay. However, if it were to be completed next year, we would see MAHB’s position potentially weakened,” said Mohshin.

He noted that the completion of klia2 would likely see investors buying into the share price in response to the promising outlook of the new airport.

“As of now, we are giving it a ‘hold’ call for its narrow 3% upside to our target price. Once it reaches close to 10%, we would upgrade to a ‘buy’ rating,” said Mohshin.

TA Securities’ Thiam Chiann Wen told The Edge Financial Daily that the delay would not affect MAHB’s earnings for its 2013 financial year (FY13) as the depreciation and interest would only be seen from FY14 onwards.

“We expect the delay of klia2 to affect MAHB’s [FY14] earnings, resulting in us reducing its earnings by 6.5%,” she said.

She noted that the research house had also lowered its passenger growth and sales per person assumptions after taking into account the six-month delay. It now expects 65% retail occupancy for FY14 compared with the initial forecast of 80%.

As at the first quarter (1Q) of FY13, she said, MAHB had spent RM3.2 billion on the CONSTRUCTION [] of klia2 since work began in October 2009. The delay may lead to a further cost overrun from the RM4 billion announced last year.

She added that as MAHB’s bond covenant allows it to gear up to 1.25 times, the group has a debt headroom of about RM2 billion, which should be sufficient to fund the additional capital expenditure requirement.

“Even if the new terminal can be completed by the end of this year, MAHB would still need to carry out operational trial runs that may require at least four months. To be conservative, we now expect klia2 to be fully operational by early next year.”

Thiam added that the research house has retained its “sell” call on the stock as it believes the market has not fully factored in the negative price factor arising from the potential delay and cost overrun of klia2.

MAHB’s board announced on May 7 the contractors for klia2 might face “difficulty” in meeting the completion deadline of June 28, despite their earlier commitment to do so.

The airport project was tendered out in 2009, with the original date of completion being September 2011, 20 months ago. The completion has been delayed several times and the estimated cost of the project has also escalated to RM4 billion last year from the initial budget of RM1.9 billion.

TheEdge

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发表于 2013-5-30 08:28 | 显示全部楼层
Malaysia Airports takes KLIA2 contractors to task for delay in completion

May 30, 2013

It will impose liquidated and ascertained damages on the responsible parties for the delay in completion


KLIA2

PETALING JAYA: The delays plaguing the completion of KLIA2 is the result of the non-delivery of parts of the project by contractors, leading Malaysia Airports Holdings Bhd (MAHB) to come out to say that it would impose liquidated and ascertained damages (LAD) on the responsible parties.

While MAHB did not reveal the amount of the LAD being sought, sources told StarBiz that it amounted to some RM4mil to RM6mil for every month of delay. KLIA2's first targeted date of completion was September 2011, but it isn't clear what period of time the LADs are being claimed for.

Sources also told StarBiz that the UEM Group was one of the contractors affected.

Failure to open the airport on June 28 would mean a fifth delay in the opening of what has been touted as Asia's biggest low-cost carrier terminal, or LCCT, that can cater to 45 million passengers.

Sources also said that while the airport was about 92% complete, the terminal building had not been fully completed by the contractor a UEM-Bina Puri joint venture.

“Some of the works cannot be finished because the terminal is not completed, and some works would coincide with the completion of the terminal,” said a source.

MAHB told Bursa Malaysia that its board had met yesterday and had decided to impose the LAD on the respective contractors and pursue any other recourse available to it under the contract.

It added that “the board had taken note of the contractors' notification that they were unable to meet their contractual obligations for the opening of KLIA2 on June 28”.

No new date has been announced and MAHB in the statement stated that the “contractors have requested for time to revert with a revised date”.

A source revealed that MAHB had committed to the June 28 opening because UEM had promised to deliver the completed terminal on May 1. However, two weeks ago, MAHB said even that deadline could not be met because the contractor was not able to complete the work on time.

Any further delay in the opening would mean that the airport can only be opened next year, leading to analysts expressing concern about the impact these delays would have on MAHB.

MAHB has been criticised by various quarters for the delays. The worry also has been that there would be significant cost overruns.

AirAsia Bhd is expected to be the anchor tenant at KLIA2 and its owner, Tan Sri Tony Fernandes, had since mid-last year warned that KLIA2 could turn out to be an expensive “black hole” due to poor decisions made by MAHB in 2009.

UEM senior officials contacted yesterday declined to comment, while Fernandes could not be reached.

The original plan was to build a terminal to cater to 20 million passengers at a cost of RM2bil, but since the growth of low-cost air traffic has been mushrooming in Asia and the fact that there had been requests made by airlines and other relevant parties for a bigger airport and facilities, MAHB decided to build an airport to cater to 45 million passengers instead at a cost of RM4bil.

Now, with the delays, talk is that the cost of building the airport could balloon to RM5bil.

“Though MAHB is seeking damages for late delivery, which is a step in the right direction, it should have also been more transparent in telling the market the issues it was facing with the contractors, and the numerous requests made by airlines that had changed parts of the plan,” commented a source, adding that in January this year, an airline had already made a request that would inevitably lead to some changes in the plan and a delay in the completion of the airport.

Earlier reports stated that a year's delay would mean MAHB having to fork out cash reserves of RM774.2mil, which could likely mean it would distribute a slightly lower dividend.

Another analyst expects the delay of KLIA2's opening to affect MAHB's earnings in the coming year.

However, other insiders reckon that the cost of KLIA2 to be borne by MAHB is “well contained within the RM4bil”, and that MAHB had adequate finances in place to fund the project.

TheStar

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发表于 2013-5-30 08:31 | 显示全部楼层
MAHB To Impose Liquidated Ascertained Damages On Klia2 Contractors

KUALA LUMPUR, May 29 (Bernama) -- Malaysia Airports Holdings Bhd (MAHB) today announced that the company has decided to impose liquidated ascertained damages (LAD) on klia2 contractors and any other recourse available to the company under the contract.

In its filing to Bursa Malaysia, MAHB said the company took note of the contractors' notification that they are unable to meet their contractual obligations for the opening date of June 28, 2013 for klia2.

The contractors had requested time to revert with a revised date, MAHB said.

Under a construction contract, a contractor is obliged to complete the works on time and if he fails to do so is liable to the employer for damages for breach of contract.

Many building contracts provide for payment of a specified amount for such a breach and these payments are called LAD.

Early this month MAHB had confirmed the delay in the opening of the new low-cost carrier terminal, klia2, scheduled for June 28, after taking into account several key quality and safety issues.

BERNAMA

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发表于 2013-5-30 10:59 | 显示全部楼层
klia2 逾期完成
大马机场向承包商索偿


2013-05-30

(吉隆坡29日讯)大马机场(Airport,5014,主板贸服股)宣布,由于承包商无法在原定日期完成新廉航终站(klia2)的建筑工程,董事局决定向相关承包商索偿。

大马机场向马交所报备,董事局今日举行会议后,决定依据合约向承包商和相关单位索偿。而承包商已要求公司给予时间回复。

大马机场早前宣布,新廉航终站无法在原定的6月28日完工。

截至目前,大马机场已支付负责建设新廉航终站的承包商约32亿令吉。

管理层之前也重申,建设成本将可限制在原定的40亿令吉,并希望取得高达31亿5000万令吉的投资税务补贴,以抵消之前的负面冲击。

NanYang

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发表于 2013-5-30 21:36 | 显示全部楼层
新機場一再展延 傳機場控股索賠  
財經30 May 2013 20:58

(八打靈再也30日訊)承包商無法完成部分工程導致第2吉隆坡國際機場(KLIA2)一再展延未能竣工使用,大馬機場控股(AIRPORT,5014,主要板貿易)決定向承建新機場承包商,追討工程延誤賠償(LAD)。

 消息人士告訴《星報》,承包商必須就每月的延遲,支付400萬至600萬令吉的工程延誤賠償。

 上述機場原定2011年9月完成,但目前不清楚機場控股是針對哪段時間承包商索賠。

 消息指出,機場已完成92%,但高峰控股(BPURI,5932,主要板建築)和UEM置地(UEMLAND,5148,主要板房產)聯營的承包商還沒完成終端大樓的工程。

 第2吉隆坡國際機場為亞洲最大廉航機場,隨著不能于6月28日開幕,已是第5次展延。

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发表于 2013-5-31 08:20 | 显示全部楼层
Delays galore in KLIA2 opening

May 31, 2013

Many developments added during construction of new LCCT

FIVE target opening dates and none could be kept.

The question is is it really necessary to put a new date when the likelihood of it not being kept is high for now?

That is the story of KLIA2, planned for completion in September 2011, but till today, there is no certainty when it will be able to open its doors to the travelling public.

But then again is it really essential to be on time as opposed to glitch-free operations?

Malaysia already has a low cost air terminal near KLIA, though bursting through its seams, and AirAsia boss Tan Sri Tony Fernandes likens it to a “horse stable,'' but it is functional and flights take off on time.

Whether or not KLIA2 will be delayed does not affect the travellers because they are still used to the current system, though, the new terminal will have better facilities and amenities, aerobridges, dedicated links via ERL to the city and the main terminal building at KLIA for better transit travel. The point is the low cost carrier terminal (LCCT) is still good for point-to-point travel.

For an airline, delays are not good as it affects its planning and if it is taking delivery of new aircraft it will potentially face issues as to where to park the planes. The KLIA2 is supposed to be Asia's biggest low cost air terminal and it does help boost market demand.

But the delay is more detrimental to those outlet guys who want to set up shop at KLIA2. It is loss of opportunity to do business, be it those in the retail, food and beverage and hotel industry. They would have prepared to begin selling at the airport and would have taken bank loans and the delays would mean that they would have to service loans without income.

Logically speaking a delay in opening KLIA2 is also a loss of opportunity even for Malaysia Airports Holdings Bhd (MAHB), the operator and project manager of KLIA2.

So, in any big development, is it crucial to keep to schedules. Just like the mass rapid transit (MRT), every one is counting on it to be ready on time and there will be big penalties for the contractors if they do not deliver on time.

In the case of KLIA2, works begun in 2010 to cater for 25 million passengers at a cost of RM2bil. But along the way the scope was changed, the size doubled to segregate the arrivals from departures, built nine instead of two storeys, install a automated baggage system instead of semi auto, create more retail space and do a lot more things than originally planned.

So the big changes caused a big delay as the job scope swelled from 37 packages to 51 and the cost doubled to RM4bil. The end result is a very modern LCC that is a class above the rest to cater for 45 million passengers.

It is easy to point the finger at one party for the delay, but given the magnitude of the project, the delay is caused by many factors and many players.

KLIA2 is not the only airport whose opening has been delayed many times. Many global airports have gone through the same path as KLIA2 but what continues to surprise many is why demands for modifications and changes were still entertained from airlines and related parties till the eleventh hour.

Should there have been a cut-off point and better planning from the onset or was there some arm-twisting involved along the way that is the cause for the delay.

For the contractors, there are big penalty clauses if they delay completion, and given the magnitude of such a project, the parties should have been more careful in picking the contractors in the first place. Cost overuns is to be expected, but the question is how much and who should bear it the contractors or MAHB, which is going to seek damages for failure of timely delivery.

Essentially MAHB is caught in a quagmire and it has attracted a lot of unwanted criticisms and is blamed for the delays. The net effect share price drops because of the delays.

But one thing is for sure, the terminal will open and when it does, MAHB's share price will retreat, but the embarrassment especially for a high impact national job of this magnitude to be delayed five times is too hard to stomach.

All those involved are to be blamed because there was obviously differences in agenda of the parties involved. It's time to put their differences aside and get the job done and stop the blame game.

Because the loss of opportunity for KLIA2 is far greater than that to an airline, airport operator or even a retail outlet, as other LCCTs in the region are trying to position themselves as the LCCT hub of the region.

TheStar

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