There will be a new highway in the Klang Valley. The Edge reports that the concession for the construction and management of the RM3.74 billion Setiawangsa-Pantai Expressway, previously known as DUKE Phase 3, has been awarded to Ekovest Bhd. The firm was also the main turnkey contractor for the Duta-Ulu Kelang Expressway, DUKE.
Ekovest, in a recent filing with Bursa Malaysia, said its wholly-owned subsidiary, Lebuhraya Duke Fasa 3 Sdn Bhd had signed a concession agreement with the government for the project. The concession is for 53 years and six months.
The highway has a proposed alignment of around 35 km, joining the north and south parts of KL. Areas served include University Tunku Abdul Rahman, Wangsa Maju, Setiawangsa, Ampang, the Tun Razak Exchange and Bandar Malaysia corridor, and Kerinchi.
“The Setiawangsa-Pantai Expressway will be the first expressway in Malaysia to be designed for a full electronic tolling system and is envisaged to utilise the multi-lane free flow system upon its opening in 2020,” said Ekovest in the filing.
“The Ekovest Group is one of the pioneers to have embraced the full electronic tolling system at our existing Duke Phase 1 since September 2015. The transformation from cash-based payments to cashless electronic tolling systems has assisted to relieve congestions at toll plazas during peak hours and promotes efficiency in day-today operations,” it added.
As part of its obligations under the concession agreement, Ekovest will provide training and career opportunities to young graduates or professionals. It will soon launch a graduate training programme for various fields such as engineering, architecture, quantity surveying and finance.
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Only country in the world where per KM is more than RM100 million (and this excluding purchase of land and compensation for houses where highway crosses).
Even in first world countries like UK and Australia, hardly few million per KM.
But in Malaysia, despite using super cheap Bangladeshi labour, per KM can be over RM100 mllion.
This is what you call Songlapping. Who pays? It is our money in LHDN that will be given to this company. Oh yeah, as with any project in Malaysia, always got overshot. So, instead of RM3.74 billion, it will be RM7 to RM8 billion (usually double)
Our LHDN money.
Then later ketuk rakyat lagi for toll.
Just what Najib songlap alone can pay for this highway. Now with new exchange rate, it is about RM3.2 billion
And that is the songlap that we know about and came out in the open
53 years. Each day, the highway can earn few hundred thousand ringgit. Busy highway like this can earn about RM300k per day. Per month about RM1 billion
Per Year 12 billion. 53 years (at current price toll without calculating the 3 yearly increase) I think nearly trillion.
Get cheap bangladeshi labout to maintain highway, tak sampai RM10k per day also to get them to sapu here and there.
mathematic kau failed!!!
BN supporters wear BLUE shirt la. MCA MIC UMNO all of them in BN.
that surely includes land acquisition costs lah. only acquire right-of-way. at grade 15m-20m per km. elevated 50m per km. korek tunnel 100m per km. industry standard. you don’t speak if got no knowledge. really
ask selangor mb to cancel DASH first lah before you diarrhea here.
jimmy, you just finished spm? Time to study stpm now
Why is toll and transport getting higher and higher? Very simple. It is because of Songlapping. 53 years of toll, even our grandchildren also have to pay toll. Malaysia is actually a very rich country IF there is no songlapping. Malaysia is far richer than Singapore because we got oil, gas, tin, rubber, gold, bauxite, iron, kelapa, kurpum, copper etc. Singapore has ZERO. Why is Singapore richer than Malaysia? Again, very simple, it is because of Songlapping.
One man can songlap RM2.6 billion is just one news we know. What about the other times he songlap that we don’t know about? I think it runs to hundreds of billions.
Taib songlap US$20 billion (RM84 billion) also nothing happen to him. Infact he was rewarded for his songlap and made Governor and given a Tunship. In Malaysia, you are rewarded for songlapping.
What about the songlaps by the other Menteri and Government officials?
It all runs to hundreds of billions per annum the Songlap.
This is why we get higher tolls every year and transport going hgher and higher. Our guardians are more interested in Songlapping than fighting for the rakyat to get lower tolls and lower transport charges or even toll free highways.
You cannot blame them because 42% of Malaysian support them.
42% don’t support. It is SPRM that cheats using demographics. The real figures for BN support is below 18%
Bodoh all the Prince of the Earth. Nothing in their heads.
53 years? What’s the point? 2 years after the highway opened… It will get jammed during peak hours.
This is a short term solution by the govt because every year Malaysia registers easily half a million new cars. Not including recond and commercial vehicles – it can achieve 700k figure with no difficulties. And 200k is a share belonging to the KL people. So, in 5 years time there will be estimated 1 million new cars on KL roads. The 35km is not a long term solution. Forget abt that 53 yrs concession.
What the govt should do is birth control ie the number of cars that can use the road during peak hours.
Great, more traffic jam at Jalan Genting Klang to facilitate the expressway construction. The traffic jam is bad enough already at Bulatan Pahang due to Duke phase 2
53 tahun goyang kaki je …
I bet the agreement signed between the GOVT and the highway concensionnaire is like this….
If tol operator untung, goyang kaki for ali baba business.
If tol operator rugi, govt compensate and pay for operator loss. The compensation of course, comes from taxpayers.
Repeat above for 53 times.
So, tax payers at least once, if not twice, whichever the scenario.
Syukur sangat we have this dunggu govt.
So now, Ekovest belongs to which cronies’ relatives?
keep digging and you will find the truth… clue, one of the items you can find in your stationery box.
its a joint venture between tan sri lim kang hoo (johor sultans crony) and hishamuddin rais brother.
Can we obtain the prospectus of this company? Who are the shareholders n specially the directors…
you would be surprised…
Masalah mental..perangai macam yahudi..
“The concession is for 53 years and six months..!!” WTF!!! Gov ada masalah mental, perangai macam yahudi..
Ekovest is MCA crony la.. see their web
http://www.ekovest.com.my/bod.html
53 years financial fund to MCA. patut la DAP cari fund dengan Israel.haha
Man behind Ekovest has influence in Iskandar Project and also very close friend with our boh lanpa MCA chairman