WCT Holdings Bhd’s wholly owned unit under WCT Land Sdn Bhd, Skyline Domain Sdn Bhd (SDSB), has acquired a 60% equity interest in Subang Skypark Sdn Bhd (SSSB) for RM44.56 million.
The seller of the stake was not revealed. WCT noted that the stake buy will be funded by internally generated funds.
SSSB and its two subsidiaries named Skypark RAC Sdn Bhd and Skypark FBO Sdn Bhd are involved in the commercial and aviation-related infrastructure and facilities development.
The developments comprise the commercial retail area of the airport terminal in Sultan Abdul Aziz Shah Airport, also known as Subang Skypark Terminal 3, car parking area, a business aviation centre and a hangarage complex, named Skypark Regional Aviation Centre.
WCT Group expects to diversify into the ground handling for private aviation business, as well as hangarage services via the deal, and sees the investment as complementary to the existing retail operations at Terminal 3.