MARCH 13, 2001
Sepang owners struggling
THE company which owns the Sepang International racing circuit in Malaysia is struggling at the moment. Malaysia Airports Holdings Bhd says that it may need help from the Malaysian government to pay back what it owes and push ahead with its plans for the future. The company spent billions of dollars to build the impressive Kuala Lumpur International Airport but the revenues expected have not been met and the airport is currently only operating at 60% capacity. Despite this the airport part of the business is making money even if the debt-load is proving to be a problem and the company is expanding into new projects such as the National Exhibition and Convention Center and the Malaysian Grand Prix.
The Malaysian government is certain to help out the company as the Ministry of Finance owns just under half of the airport company.
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