Govt finalising rescue plan for financially troubled MEX II project
Works Minister Alexander Nanta Linggi said discussions involve completion costs, cash flow, traffic impact analysis, toll rate structures, and other elements to ensure the project remains feasible.
“The planning and direction of the MEX II project will...
The government is wrapping up talks with highway operator MEX II Sdn Bhd to identify the most effective way to complete the stalled Maju Expressway extension (MEX II) project.
Works Minister Alexander Nanta Linggi said discussions involve completion costs, cash flow, traffic impact analysis, toll rate structures, and other elements to ensure the project remains feasible.
“The planning and direction of the MEX II project will be coordinated by the central agency together with the relevant ministries and agencies, particularly regarding the financial model.
“This will take into account parameters appropriate to the project’s viability assessment, including technical aspects, and will subsequently be brought to the cabinet for consideration,” Nanta (above) said in a written parliamentary reply on July 31.
The minister said this in response to a question from Puchong MP Yeo Bee Yin, who requested an update on the MEX II project, including the amount of funds needed to complete the project and whether additional costs could lead to increased toll rates.
She also sought the government’s confirmation on whether the concessionaire, a subsidiary of Maju Holdings Sdn Bhd, requires government approval for claim applications.
Addressing the query, Nanta clarified that the project’s progress claims do not require government-level approval as the project is privately financed.
Maju Holdings also owns Maju Expressway Sdn Bhd, which is the operator of the existing 26km Maju Expressway connecting Kuala Lumpur to Putrajaya and Cyberjaya.
Last month, Nanta reportedly said the government was working with all stakeholders to resolve the delay in MEX II, which was allegedly stalled due to financial problems.
The 18km MEX II highway project, which began construction in 2016 and was targeted for completion in December 2019, was to connect Putrajaya to the Kuala Lumpur International Airport (KLIA).
On July 3, MACC chief commissioner Azam Baki confirmed that the anti-graft agency had called 61 witnesses to assist in a probe into the MEX II project.
Earlier in May, various assets, including luxury vehicles, jewellery, designer handbags, and cash worth RM32 million, were seized from a Tan Sri allegedly linked to the graft buster’s investigation.
According to sources, all the luxury items were seized by MACC Investigation Division officers after raiding two of the Tan Sri’s residences in the capital on suspicion of false claims and misuse of loan bonds.
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