SINGAPORE (THE BUSINESS TIMES) – Changi Airport Group (CAG) has an curiosity in a number of Russian airports by way of its wholly owned subsidiary Changi Airports International (CAI), the group disclosed in a bourse submitting on Wednesday (March 9).
CAI holds a 30 per cent stake in Transport AMD-2 Limited (TAMD2) – a holding firm in Russia that wholly owns three airports within the nation: Sochi International Airport, Krasnodar International Airport and Anapa International Airport.
TAMD2 additionally holds an oblique stake in Russia’s Vladivostok Airport, which is positioned close to Artyom, Primorsky Krai.
In reference to Singapore’s March 5 announcement of sanctions towards Russia, CAG mentioned it’s going to adjust to all authorized and regulatory obligations relevant to the group and its subsidiaries, together with sanctions.
It believes the evolving Russia-Ukraine battle – and the worldwide response to it – might probably influence the underlying operations of the 4 Russian airports talked about, in addition to their worth.
READ RELATED: How Rich Is Gwyneth Paltrow? Net Worth, Career, Salary
The group mentioned it’s monitoring the scenario intently, and that it’s assessing the influence of those developments on its investments in Russia.
It doesn’t anticipate its publicity to Russia to have an hostile influence on the group’s skill to satisfy its monetary obligations to noteholders.
CAI is the consultancy and funding arm of CAG, a subsidiary of the Ministry of Finance.
Follow The Straits Times’ reside protection on the Ukraine disaster right here.
