MTD Infra looks to to widen highway
Date: Friday, 28 September 2007
Category: Publication - The Star
KUALA LUMPUR: MTD Infraperdana Bhd (MTD Infra) is preparing a proposal to the Government on the widening of the Kuala Lumpur-Seremban Expressway, said chairman Datuk Nik Hussein Abdul Rahman.
"The KL-Seremban Expressway is a big congested. We were asked by the Government to put up a proposal to widen the road because there were lots of complaints on the congestion," he said after the company AGM yesterday.
The East-Coast Expressway 1 also continues to see steady growth in traffic volume.
"We hope as the east coast develops, there will be a sudden surge in traffic volume," Nik Hussein said.
MTD Group chief financial officer Tee Kim Siew said that in the financial year ending March 31, 2008 (FY08), MTD Infra's performance was likely to be impacted by the finance costs arising from the issuance of RM600mil Islamic medium-term notes in April.
"The interest costs could be quite substantial, which on average is about 5.3% a year. But our earnings are more than enough to cover the interest costs," he said.
The full year impact of the toll hike approved for the Kuala Lumpur-Karak Highway effective Jan 1 will also be felt in FY08.
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