KUALA LUMPUR (Dec 2): The long-stalled Maju Expressway extension (MEX II) project is expected to cost some RM449 million to complete, according to Works Minister Datuk Seri Alexander Nanta Linggi.
The figure — provided by the receivers and managers (R&M) of the project concessionaire MEX II Sdn Bhd in November 2024 — is based on their assessment of the remaining works. MEX II Sdn Bhd has been under receivership since May 2022 following a default on its sukuk payments.
“The final cost could be higher due to current price levels, repair costs and other expenses resulting from the prolonged project delay,” Alexander said in a written parliamentary reply on Tuesday.
He was responding to Yeo Bee Yin (PH-Puchong), who asked for an update on the project’s remaining costs, the expected completion timeline and the potential toll increase arising from mismanagement.
Both the completion timeline and toll rates for the MEX II highway remain undecided, he said.
He added that the R&M team is preparing a comprehensive proposal covering cash flow projections, financing costs, traffic impact analysis, concession period and toll structures to ensure the project remains financially viable.
MEX II, also known as the MEX extension, is a planned 16.8km three-lane dual carriageway linking the MEX Putrajaya Interchange to the KLIA highway.
Construction began in 2016 and was initially targeted for completion in December 2019.
The project has been marred by delays, mainly due to financial constraints faced by concessionaire MEX II Sdn Bhd. To finance the extension, the company issued a sukuk, but defaulted on principal and profit payments in 2021, resulting in its placement under receivership the following year.
MEX II Sdn Bhd is a subsidiary of Maju Holdings Sdn Bhd, which also owns Maju Expressway Sdn Bhd — operator of the original 26km Maju Expressway connecting Kuala Lumpur to Putrajaya and Cyberjaya.
Maju Holdings has recently drawn public attention after its owner, Tan Sri Abu Sahid Mohamed, and former director Datuk Yap Wee Leong were separately charged with criminal breach of trust and money laundering involving the MEX II project.
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