KUALA LUMPUR (Aug 26): WCE Holdings Bhd (KL:WCEHB) is aiming to complete the West Coast Expressway by the financial year ending March 31, 2027 (FY2027), according to its chief executive officer Lyndon Alfred Felix.

To date, eight out of the expressway’s 11 sections are already operational, including the entire Perak alignment.

Lydon said the remaining works involve Section 3 (SKVE–NKVE/FHR2) and Section 7 (Assam Jawa–Tanjong Karang), as well as the construction of the remaining Rest and Service Areas (RSAs) along the highway.

“One of the primary challenges for the completion of Section 3 revolves around the land acquisition of a specific land parcel, Lot 15762. WCE has intensified its engagement with relevant agencies, the government and the landowner to resolve this issue,” said Lydon in a statement.

Looking ahead, Lyndon reiterated the group’s focus on delivering the project within the new timeline.

“The strong start to FY2026 demonstrates the viability of our business model and the resilience of the West Coast Expressway as a vital infrastructure asset. With increasing toll revenue, completion of the remaining sections, and sustained government support, WCE is confident that the group is moving steadily towards long-term profitability and enhanced value creation for shareholders,” Lydon said.

The 233km toll highway, which links Banting in Selangor to Taiping in Perak, was originally slated for completion in 2020 under a concession agreement signed in 2013. The delay is due to a myriad of issues including underperforming contractors, funding issues, disputes over land acquisition, changes in political leadership, alignment amendments and escalating costs.

Meanwhile, WCE's earnings before interest, taxes, depreciation and amortisation (Ebitda) rose 84% to RM33.4 million in the first quarter ended June 30, 2025, up from RM18.1 million a year earlier, thanks to higher toll collections. Toll revenue increased 61% to RM42.02 million due to more traffic after opening three new sections of the highway.

However, WCE still posted a net loss of RM25.33 million, slightly better than RM25.86 million a year ago, mainly because of interest expenses on project financing. The company expects that once the WCE project is fully completed, revenue growth will exceed financing costs, leading to sustained profitability.

WCE counts IJM Corp Bhd (KL:IJM) as its largest shareholder.

WCE's share price settled down 4.5 sen or 6.43% to 65.5 sen, giving the group a market capitalisation of RM2.16 billion.

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