Malaysia Airports rises on asset sales – SHARE WRAP

Malaysia Airports’ shares rose for the fourth day in a row yesterday, as the airport operator confirmed it has entered into two separate agreements valued at USD44 million to sell its non-core NECC Sdn Bhd and Malaysia Airports (Sepang) Sdn Bhd businesses to the Ministry of Finance.

The move is part of the financial restructuring agreement reached with the Malaysian Government at the end of last year, which will help the operator focus its attention on developing new terminal facilities for the fast-growing LCC segment in Malaysia.

Malaysia Airports’ shares rose 4.6% yesterday.

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Selected airports daily share price movements (% change): 23-Apr-09