UEM hopes to conclude toll rate talks by June

Plus, the expressway arm of UEM Group, has five highway concessions - the Plus expressways (North-South Expressway (NSE), New Klang Valley Expressway (NKVE), Federal Highway Route 2 (FHR2), Seremban Port-Dickson Highway), North-South Expressway Central Link (NSECL), Malaysia-Singapore Second Link (MSSL), Butterworth-Kulim Expressway (BKE), and the Penang Bridge.

KUALA LUMPUR: Plus Malaysia Bhd hopes to submit a proposal and conclude discussions with the Government on toll rates by June, said UEM Group Bhd group managing director/chief executive officer Datuk Izzaddin Idris.

Plus, the expressway arm of UEM Group, has five highway concessions - the Plus expressways (North-South Expressway (NSE), New Klang Valley Expressway (NKVE), Federal Highway Route 2 (FHR2), Seremban Port-Dickson Highway), North-South Expressway Central Link (NSECL), Malaysia-Singapore Second Link (MSSL), Butterworth-Kulim Expressway (BKE), and the Penang Bridge.

Speaking at press conference after UEM Group’s 50th anniversary celebration here, Izzadin said discussions were in the preliminary stage.

Under the concession agreement, Plus would review rates every three years, for the entire duration of the concession which ends in December 2038.

Meanwhile, when asked on the outcome of the tender for the Pan Borneo Highway, he said an announcement would be made soon.

The UEM Group teamed up with MMC Corp and a Sabah company to tender for the Sabah component of the project.

Izzaddin added that UEM Group plans to establish a new entity which will venture into affordable housing developments by year-end.

He said the group was currently looking at introducing or developing a new building system that would require less labour.

“For affordable housing, volume is important. To get volume, we need a new building system.

“Right now, we are still looking at a few systems that are available in the country,” he told a press conference in conjunction with UEM Group’s 50th anniversary celebration here yesterday.

Izzaddin said the UEM Group has identified several locations for the affordable housing projects which would be situated nearby public infrastructure such as train stations.

He also said the group would continue to tap into the vast opportunities available in Malaysia, as well as, expand its presence in neighbouring countries such as Indonesia and India, given their strong demand for infrastructure development.

Following the opening of the 116 kilometre Cikopo-Palimanan toll road, built by UEM in Indonesia last June, he said the group was now evaluating some proposals after being approached by several interested parties to jointly develop new highways.

Meanwhile, UEM Group Chairman Tan Sri Dr Ahmad Tajuddin Ali said the company, through its unit UEM Sunrise, was planning to develop its landbank in Durban, South Africa, possibly into mixed development project.

“The management is finalising a proposal on the matter and it will be submitted to the board this year for consideration,” he added. — Bernama