MTD sees big payoff from Manila highway

MTD sees big payoff from Manila highway
By Zuraimi Abdullah
Published: 2008/09/27
BTimes

MTD Capital Bhd's top executives have hinted that it should reap handsome returns from its RM800 million highway venture in Manila from as early as March 2009.Income from its power plant venture in Sri Lanka, meanwhile, should start streaming in from November this year.Company executives said MTD will keep focusing on securing more construction, property, engineering, toll, power plant and port jobs in the 12 countries where it has a presence.They also asked the government to review the contract for the RM1.2 bilion East Coast Expressway 2, given rising material costs.
Executive chairman Datuk Dr Nik Hussain Abdul Rahman is excited with MTD's Philippine prospects.The 35km South Luzon Expressway toll project, Nik Hussain said, should start generating income from March next year."With a daily traffic of 120,000 vehicles, the road is as busy as our Federal Highway," Nik Hussain said after MTD's annual general meeting in Batu Caves, Selangor, yesterday.MTD holds an 80 per cent stake in the privatised project on a build, operate and transfer basis with a 30-year concession."We can start collecting toll once construction of the two sections under Phase One completes by February," he said.The two sections have a combined stretch of 28km, managing director Datuk Azmil Khalili Khalid said. The remaining 7km under Phase Two should be ready by the year-end.