CEO Morning Brief

PTP Signs Lease Agreement With Highway Concessionaires

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Publish date: Fri, 14 Apr 2023, 08:49 AM
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TheEdge CEO Morning Brief

KUALA LUMPUR (April 13): The Ministry of Natural Resources, Environment and Climate Change and the Ministry of Works (KKR) on Thursday (April 13) signed a lease agreement involving 13 commercial and non-commercial sites supervised by the Federal Lands Commissioner (PTP) on highway areas.

Minister of Natural Resources, Environment and Climate Change Nik Nazmi Nik Ahmad said the agreement with the highway concessionaires under the supervision of KKR, namely Projek Lintasan Kota Holdings Sdn Bhd (Prolintas) and IJM Corp Bhd, was able to optimise the use and development on federal land to generate a more competitive economy.

He said the lease period would continue as long as the concession of the highways with tolls still in force.

“It is in line with Section 221 of the National Land Code 1965 which provides that PTP as a registered land owner can lease land for a maximum period of 99 years.

"The toll highway concession companies under the supervision of KKR and the Malaysian Highway Authority have an exclusive interest in regulating, optimising commercial development as well as managing the current regulations related to land or facilities built on it," he said at the signing of the agreement here.

Meanwhile, Works Minister Datuk Seri Alexander Nanta Linggi, who was also present, said the lease was able to ensure users get efficient and high-quality services when using the highways.

He said the ministry would monitor land management procedures and issues on all 36 highways operating in the country.

Source: TheEdge - 14 Apr 2023

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