Media OutReach
As at 8 January, GDA Secures 84.1% of MAHB Shares
Offer extended to 17 January 2025. Offer Price remains firm at RM11.00 Per Share
The encouraging level of acceptances by the First Closing Date, despite the intervening holiday period, moves the Consortium decisively towards satisfying the 90% acceptance condition and thus the threshold required to de-list MAHB pursuant to the Offer.
For shareholders who have yet to submit their acceptances, the Consortium wishes to highlight that the offer period has been extended from 8 January 2025 to 17 January 2025. Save for the extension, all other terms including the offer price of RM11.00 and the 90% acceptance condition remain unchanged.
RM11.00 offer price higher than any price MAHB has traded
GDA remains firm that its offer price of RM11.00 per share is highly compelling and attractive to shareholders (see Chart #11). RM11.00 is higher than any price MAHB has ever traded at and represents a 49.5% premium YTD2 and implies a Price-to-Earnings ratio of 37.7x3.
All 14 licensed equity research analysts that currently cover MAHB4 have target prices that are either lower than or equal to RM11.00, and most also explicitly recommend that shareholders accept the offer.
MAHB needs to address shortcomings to compete regionally
The Consortium reiterates its view that MAHB’s shortcomings in maintaining its core assets and systems, and prolonged history of underperformance both operationally and financially, will only be properly addressed if it is not constrained by a public market listing and is able to take a fresh approach.
A case in point is the Aerotrain at KLIA Terminal 1 which has suffered multiple service failures over the last 10 years and continues to be challenged by ongoing and unresolved issues. As it nears the second anniversary of total service suspension, the re-opening date remains uncertain.
The Consortium believes one of the root causes of MAHB’s issues is its continuous underinvestment in critical operational infrastructure and in projects to drive growth and expansion.
Over the last 5 years, MAHB spent RM1.3bn in capex compared to RM18.9bn by Singapore’s Changi, RM8.1bn by Indonesia’s Angkasa Pura and RM6.8bn by Airports of Thailand (“AOT”)5 (see Chart #2).
This prolonged underinvestment by MAHB has resulted in an ageing asset base and led to a number of high-profile operational failures. Meanwhile, the passenger experience has deteriorated markedly, as noted by Skytrax whose ranking of KLIA has plummeted from 2nd best airport in the world in 2001 to 71st in 2024. MAHB’s airports are in urgent need of significant remediation and expansion capex.
Unsurprisingly, MAHB has been losing ground in the ASEAN aviation market. Over the last 10 years, KLIA has lost passengers while key regional peers have grown significantly6 (see Chart #3). This has resulted in MAHB’s market share declining from 20% to 16%7 (see Chart #4). Throughout this time, KLIA’s regional peers, including Changi Airport in Singapore and Suvarnabhumi Airport in Bangkok, continue to make significant investments to increase their capacity and further distance themselves from KLIA.
Operational challenges have contributed to MAHB’s financial underperformance
Over a 10-year period8, MAHB has consistently underperformed listed APAC peers across a number of key financial metrics (see Charts #5 – #7):
Moreover, MAHB’s dividend has remained stagnant over the last 10 years and MAHB distributed only RM0.11 per share in 2024. This implies a 1.0% dividend yield9, which is four times lower than the KLCI Bursa Malaysia Index10 and three times lower than the DJ Airports index11 (see Chart #8). The RM11 per share offer price compares to RM0.82 of dividends MAHB has paid over the past 10 years (see Chart #9).
Consortium committed to turnaround MAHB
As highlighted in the offer document dated 6 December 2024, the Consortium intends to upgrade and modernise MAHB’s operations, enhance passenger service, improve airline connectivity and stimulate traffic growth. The Consortium believes that such objectives will be best achieved by MAHB as a private entity, taking a long-term approach to decision-making and capital investment, and benefitting from GIP’s airport expertise.
With its combined resources, control of the board and without the constraints of a public market listing, the Consortium together with management will be able to expedite necessary capital investments and provide the requisite technical expertise to realise MAHB’s full potential.
This offer presents a compelling opportunity for MAHB shareholders to achieve immediate and attractive returns and GDA therefore encourages all shareholders who have not yet accepted the offer to do so before the revised closing time and date of 5:00 p.m. (Malaysian time) on 17 January 2025.
Hashtag: #GatewayDevelopmentAlliance
The issuer is solely responsible for the content of this announcement.
Investment by leading industry institute supports Tracr’s evolution to becoming an independent, industry-wide platform for natural diamond provenance
LAS VEGAS, US – Media OutReach Newswire – 9 June 2026 – De Beers Group and GIA (Gemological Institute of America) today announced the signing of a definitive agreement for GIA to acquire a 30 per cent shareholding in Tracr, the De Beers Group-backed company behind the development of the pioneering diamond provenance blockchain-driven platform.
The agreement marks a significant milestone in Tracr’s evolution towards independence and reflects GIA’s confidence in the platform’s role as an industry-wide infrastructure to advance natural diamond provenance and traceability at scale.
GIA’s investment – which builds on a 2023 initiative to include diamond provenance information registered on Tracr’s platform on eligible GIA diamond grading reports – represents a significant step in this transition, reinforcing Tracr’s long-term credibility across the diamond value chain.
Al Cook, CEO of De Beers Group, said: “Consumers deserve to know where their diamonds come from and they should feel more confident in their understanding of each diamond’s source. At De Beers we have been providing provenance data on diamonds through Tracr for several years and we believe that delivering provenance should become an industry standard. Following our promise to open Tracr up to broad ownership, we are proud to be partnering with GIA as Tracr evolves into an independent, industry-wide platform. We will work alongside GIA to advance provenance transparency for the entire diamond sector.”
Pritesh Patel, President and CEO of GIA, said: “At GIA, our mission has always been rooted in trust, integrity, and consumer confidence. Our collaboration with Tracr over the past several years reinforced our belief that combining source-based blockchain provenance with GIA’s independent grading and identification expertise can help unlock a new level of transparency for the diamond industry. As Tracr continues to scale globally, we see a tremendous opportunity to deliver meaningful, verifiable provenance information from the source to the consumer. We are proud to deepen our commitment through this investment and help shape the next evolution of transparency, traceability, and trust across our industry.”
Jillian Wolk, CEO of Tracr, said: “The start of Tracr’s evolution into an independent platform, as a result of GIA’s investment, creates a strong foundation for the future. I am excited to continue scaling the platform and bringing more producers on board, which will support Tracr in enabling the individual journey of every registered diamond to come to life. Each stone carries its own narrative, defined by its source and the craftsmanship that has shaped it, and as Tracr continues to grow we have a fantastic opportunity to help reveal those unique stories.”
Today, more than five million rough diamonds have been registered on Tracr at source, representing around two-thirds of De Beers’rough diamond production by value. Since January 2025, single country of origin for De Beers diamonds has been available on Tracr, with all newly sourced De Beers rough diamonds of one carat and above being registered on the platform.
Hashtag: #NaturalDiamonds #Diamonds #DeBeersGroup #GIA #Tracr
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The issuer is solely responsible for the content of this announcement.
About De Beers Group
Established in 1888, De Beers Group is the world’s leading diamond company with expertise in the exploration, mining, marketing and retailing of diamonds. Together with its joint venture partners, De Beers Group employs more than 20,000 people across the diamond pipeline and is the world’s largest diamond producer by value, with diamond mining operations in Botswana, Canada, Namibia and South Africa. Innovation sits at the heart of De Beers Group’s strategy as it develops a portfolio of offers that span the diamond value chain, including its jewellery houses, De Beers Jewellers and Forevermark, and other pioneering solutions such as diamond sourcing and traceability initiatives Tracr and GemFair. De Beers Group also provides leading services and technology to the diamond industry in the form of education and laboratory services via De Beers Institute of Diamonds and a wide range of diamond sorting, detection and classification technology systems via De Beers Group Ignite. De Beers Group is committed to ‘Building Forever,’ a holistic and integrated approach for creating a better future – where safety, human rights and ethical integrity continue to be paramount; where communities thrive and the environment is protected; and where there are equal opportunities for all. De Beers Group is a member of the Anglo-American plc group. For further information, visit www.debeersgroup.com.
About GIA
An independent nonprofit organization, GIA (Gemological Institute of America), established in 1931, is recognized as the world’s foremost authority in gemology. GIA invented the famous 4Cs of Color, Clarity, Cut and Carat Weight and, in 1953, created the International Diamond Grading System™ which is recognized around the world as the standard for diamond quality.
Through research, education, gemological laboratory services and instrument development, the Institute is dedicated to ensuring the public trust in gems and jewelry by upholding the highest standards of integrity, academics, science and professionalism.
Media OutReach
Smart Design Global 2026 Awards Presentation Ceremony Proudly Unveils 52 Original Award-Winning Designs International Tour Highlights Hong Kong’s Creative Design Power
Set to Appear at Bangkok Mega Show and Paris Maison&Objet
HONG KONG SAR –
About The Hong Kong Exporters’ Association
Founded in 1955, The Hong Kong Exporters’ Association (The HKEA) is a non-profit making trade association registered under the Hong Kong Companies Ordinance as a company limited by guarantee. The HKEA is committed to creating new business opportunities and enhancing market value for Hong Kong exporters, aiming to position Hong Kong as a premier trading hub. The HKEA focuses on serving the industry and taking export trade as its core value, helping members expand their business by closely liaising with the government, initiating different projects, and organising seminars, business gatherings, business delegation trips and exhibitions. The HKEA also disseminate the latest local and international trade information and provides online product display and search services for additional publicity, to further promote Hong Kong’s export trade and enhance market competitiveness.
The HKEA website:
About Cultural and Creative Industries Development Agency
The Cultural and Creative Industries Development Agency (CCIDA), formerly known as Create Hong Kong (CreateHK) since 2009, was established in June 2024. CCIDA is a dedicated office under the Culture, Sports and Tourism Bureau of the Government of the Hong Kong Special Administrative Region (HKSAR Government) to provide one-stop services and support to the cultural and creative sectors with a mission to foster a conducive environment in Hong Kong to facilitate development of the arts, culture and creative sectors as industries. CCIDA’s strategic foci are nurturing talent and facilitating start-ups, exploring markets, promoting cross-sectoral and multi-disciplinary collaboration, promoting industrialisation of the arts, culture and creative sectors under the industry-oriented principle, and fostering a creative atmosphere in the community, thereby reinforcing Hong Kong as Asia’s creative capital and our positioning as the East-meets-West centre for international cultural exchange.
CCIDA’s website: www.ccidahk.gov.hk
Disclaimer: The Government of the Hong Kong Special Administrative Region provides funding support to the project only, and does not otherwise take part in the project. Any opinions, findings, conclusions or recommendations expressed in these materials/events (or by members of the project team) are those of the project organisers only and do not reflect the views of the Government of the Hong Kong Special Administrative Region, the Culture, Sports and Tourism Bureau, the Cultural and Creative Industries Development Agency, the CreateSmart Initiative Secretariat or the CreateSmart Initiative Vetting Committee.
Media OutReach
Disney Garden of Wonder blooms to life again at Singapore’s Gardens by the Bay with all-new character topiaries
SINGAPORE – Media OutReach Newswire – 8 June 2026 – Disney magic blooms anew at Singapore’s premier horticultural destination Gardens by the Bay as the second edition of Disney Garden of Wonder, opens today. Featuring 23 vibrant topiaries inspired by beloved Disney and Pixar characters, the enchanting showcase transforms Floral Fantasy into a world of floral artistry and imagination through 14 March 2027.
Organised in collaboration with Disney and supported by the Singapore Tourism Board, Disney Garden of Wonder is inspired by Disney and Pixar stories that have charmed generations of fans around the world, inviting people of all ages to re-discover their favourite stories of courage, kindness, friendship and love through the beauty of plants. Following the success of its debut at Gardens by the Bay in 2024, the enthralling floral showcase returns in an even more special second edition.
Visitors can look forward to five themed areas:
- Frozen, in which topiary versions of Anna, Elsa and Olaf preside over an enchanting snowy landscape, brought to life through themed lighting that imagines a frost-kissed world of wonder. Inspired by Elsa’s Ice Palace, visitors can step on a floor where magical snowflakes dance and respond to movement.
- Disney princesses, where Rapunzel appears alongside her best friend Pascal the chameleon; Belle is with the Beast and their enchanted companions; and Jasmine is accompanied by her loyal tiger Rajah.
- Hundred Acre Wood, where Winnie the Pooh, Eeyore, Piglet and Tigger gather in a cheerful party scene. Tigger bounces up and down while Piglet twirls, and visitors can picture themselves joining everyone at the table!
- Toy Story 5, where Woody, Jessie and Buzz Lightyear appear as topiaries in a playful setting inspired by Bonnie’s Room, alongside displays of new characters Lilypad and Smarty Pants.
- Go Local, a Singaporean-themed zone where Disney characters are reimagined in familiar local settings. Chip ‘n Dale perch atop a giant ice cream sandwich; Minnie Mouse and Daisy Duck share the spicy rice noodle dish laksa; and Mickey Mouse makes the traditional beverage teh tarik with Donald Duck.
Outside Floral Fantasy, a 4m-tall Sorcerer’s Apprentice Mickey marks the entrance and welcomes visitors to Gardens by the Bay.
The hand-assembled topiaries are crafted from more than 40 species of preserved and dried floral materials, which took more than 16,000 man hours.
Each material was selected for its colour, texture and form, helping to reflect each character’s features. Plenty of flowers are used for the Disney princesses for example, while Rapunzel’s hair is crafted from Stipa, a perennial grass that has fluffy or oat-like flowerheads.
The surrounding landscapes also use plant palettes that reflect the mood of each zone — sunflowers and marigolds reflect the honey-toned meadow setting of Winnie the Pooh, while lilies and roses bring out the romantic and jewel-toned settings of Disney Princess stories. Hydrangeas and dusty miller evoke the icy blues, whites and silvers of Frozen.
Throughout the duration of Garden of Wonder, visitors can enjoy select weekend Meet and Greet sessions with Mickey Mouse and Minnie Mouse in outfits inspired by Singapore’s national flower, the Vanda Miss Joaquim. Donald Duck and Daisy Duck will also join the experience on select weekends, dressed for a sunny getaway on our tropical island. Meet and Greet dates are available at www.gardensbythebay.com.sg/disneygardenofwonder.
Visitors can round off their experience with shopping at the gift shop, which carries items launching exclusively at Disney Garden of Wonder.
Hashtag: #DisneyGardenofWonder #FloralFantasy #GardensbytheBay
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The issuer is solely responsible for the content of this announcement.
Gardens by the Bay
An integral part of Singapore’s “City in Nature” vision, Gardens by the Bay is a national garden and premier horticultural attraction that showcases the best of garden and floral artistry for all to enjoy. Spanning 101 hectares in the heart of Singapore’s downtown Marina Bay, it comprises three waterfront gardens – Bay South, Bay East, and Bay Central. Bay South, the largest at 54 hectares, officially opened on 29 June 2012.
Guided by the vision to be a world of gardens for all to own, enjoy and cherish, the Gardens’ extensive plant collection, ever-changing floral displays, and myriad of engaging programmes have captured the imagination of many, while its Gift of Gardens community initiative, with Mr Tharman Shanmugaratnam, President of the Republic of Singapore as Patron, reaches out to people from all walks of life.
Since opening, Gardens by the Bay has welcomed more than 115 million visitors and garnered numerous international accolades including the third Top Attraction in the World in Tripadvisor Travelers’ Choice Awards Best of the Best 2026, Outstanding Achievement in Sustainability at the Singapore Tourism Awards 2024, Best Theme Attraction at TTG Travel Awards 2022 and 2023, and Best Attraction Experience at the Singapore Tourism Awards 2019. The Gardens continues to refresh and refine its offerings, to be a place that everyone can enjoy – a garden where wonder blooms.
For more information, visit www.gardensbythebay.com.sg.
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