PSM objects to proposed sale of Subang Airport

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PSM has raised objections on the proposed selling of Subang's Sultan Abdul Aziz Shah Airport to Subang Skypark Sdn Bhd, arguing that the move would go against public interest.PSM central committee member Sharan Raj said the proposed sale could expose airport operator Malaysia Airport Holdings Bhd (MAHB) to full market profit-orientated competition, despite its role to support domestic air travel in rural parts of East Malaysia.He added that neither Subang Skypark's parent company, WCT Holding Berhad, nor its group executive chairperson Desmond Lim, has the financial capacity to invest RM3.7 billion for the purchase without taking massive debts from the bond markets and bank loans.He also claimed the cash holding of WCT Holding Berhad as of Dec 31, 2019, was less than RM650 million."WCT Holding Berhad cannot solely rely on private jet travellers and must claw into …