The government has reiterated plans to revive the stalled Maju Expressway extension (MEX II), with the central agency currently finalising discussions with parties appointed by the project’s sukuk holders to determine the best way to complete the highway’s construction.
According to works minister Datuk Seri Alexander Nanta Linggi, the discussions are centred around key considerations to ensure the viability of the project. These include examining project completion costs, cash flow, traffic impact analysis and toll rates, the New Straits Times reports.
He said the central agency would coordinate the planning and direction of the MEX II project with relevant ministries and agencies, especially with regards to the financial model. “This will take into account appropriate parameters for evaluating the project’s viability, including technical aspects, and will then be presented to the cabinet for consideration,” he said in a written parliamentary reply.
Nanta was responding to a question from Yeo Bee Yin (PH–Puchong), who asked about the current status of the highway and the steps taken to prevent similar situations in the future. Yeo also asked about the amount of funding needed to complete the project and whether this would lead to an increase in toll rates.
In response, Nanta said the MEX II is a fully privatised project, funded by the developer through a Build-Operate-Transfer (BOT) arrangement. As it was a private project, government-level approval is not required, he said.
“All project progress verifications, including progress claims, are reviewed and confirmed between the contractor, the concessionaire, the supervision consultant (SC), and the independent checking engineer (ICE), and submitted directly to the sukuk holders,” he explained.
However, the concessionaire was issued a notice of default by the sukuk holders in January 2022. Since then, all concession obligations have been handed over to the receivers and managers appointed by the sukuk holders to resolve the project’s financial issues and complete the remaining construction.
Construction of the 18 km-long, open-toll, three-lane dual carriageway project began in early 2017 and was due to be completed in December 2019. However, work stalled due to cash flow problems and, more recently, from MACC investigations into alleged false claims involving RM360 million.
The aim of the expressway is to provide the shortest and most direct route between the KL city centre to KLIA and KLIA 2 by linking up the 26 km-long MEX to Lebuhraya KLIA (FT26).
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so when will Tan Sri go to jail?
Your Excellency Ben Yap,sooner more bandits with 10 year jail sentences will ask for community service.
We r not talking about the Burmese Aun Sang Suki,who is under house arrest due to political oppression.
The various VVIPs including fat mama .litoral combat shit general,moo moo still have a long way b4 final sentencing…
The VVIP implicated in this highway fiasco has no intention to finish the highway..just siphon as much as possible.Until 2 more general elections,final sentencing only happens.
If the almost RM1 billion gomen grant Dr m gave to maju group to build Mex1 was not paid, please nationalise the highway and use gomen fund to build mex II. Otherwise nobody willing to buy over due to money already used and still nothing completed
The story of Mex 1 continues with Mex II under maju. No point helping them anymore.
PH oh PH.
When they were in Opposition they protested it.
Now they are in Govt they sipport it.
Money talks, bullshit also talks in PH.
PH is now Pakatan Hopeless or Pakatan Hancur.
GE16..PKR plus DAP win big….no need the other parties like greenies.
PH should rebrand as Pakatan Baru.
Fahmi should be the new poster boy of PH.
Ahwarkor…Honorary Life long Advisor
Thats the consequences of giving the project to incompetent company just to fulfilled the race quota…ended up sakau money and project not done..lol
isn’t this mex2 debacle led by the type M tan sri who had a penchant for alcohol n gambling? was he a crony of najib, muhyidin, or sabri?