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KUALA LUMPUR: Malaysia Airports Holdings Bhd (MAHB) is expanding its personalized support package to all of its retailers with up to 30 percent rent reimbursement starting in January 2021.
In a statement today, MAHB said that the aid package is offered to its pre-existing retailers who have signed up for the business restart program with 100 percent rental refunds from July to December 2020.
In addition, he said that partner airlines will also enjoy a discount of up to 30 percent on aeronautical charges, such as landing, aircraft parking, airlift, and check-in desk charges, but not the service charge for passengers.
“Starting in 2021, pre-existing retailers will only be charged rent based on the actual rate of passenger growth at the airport, for example if passenger traffic is 20 percent, they will only pay 20 percent. of the total rent.
“The new rental model, which is applicable to those under the commercial restart program, will allow eligible retail tenants to enjoy a rent reduction of up to 30 percent from current rates with the added benefit of making up the gap in traffic less than 70 percent extended contract period, ”he said.
MAHB CEO Datuk Mohd Shukrie Mohd Salleh said the relief package was introduced in response to pleas from tenants facing cash flow challenges, especially with the reimposition of the Conditional Movement Control Order (CMCO ) in most states.
“What we are doing for our retailers goes beyond any assistance package offered by any mall in the city and we believe it is a fair package for all parties under the circumstances.
“It is with this guiding principle in mind that we took this step to offer the additional rebates despite being in the red for the past three quarters, and this will further reduce our cash reserves,” he said. – Called
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