CIMB: Kinrara-Damansara highway project
Author: value_investor | Publish date: Fri, 17 Feb 2012, 12:05 AM
The government has called a tender for the Kinrara-Damansara highway project, with seven companies invited to bid for the job. Sources said the companies include Bina Puri, Mudajaya, and Pesona Metro Sdn Bhd. "The tenders are just out and it is not certain yet on the tenure of the concession as the CA has not been finalised." said a source. The highway will link Kinrara and Pusat Bandar Damansara and will divert traffic on the LDP. The concession was suppose to be awarded to PLUS Expressways but may not proceed as planned. Talks are that Pesona Metro might be the front runner for some of the major components. This highway is the latest tendered-out, out of the six new highways planned under Budget 2011. (Financial Daily)
This news is not entirely a surprise but gives clarity on the roll-out of the outstanding highways announced in Budget 2011. This news also gives more clarity on Mudajaya's tender book, which we understood, included other highway jobs on top of the WCE. Based on earlier indications, the highway could be worth at least RM1bn, and is mostly elevated.
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