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Friday, December 19, 2014

Taliworks to takeover Klang expressway from govt for RM265m

KUALA LUMPUR (Dec 19): Public utilities operator Taliworks Corporation Bhd is taking over the New North Klang Straits Bypass Expressway (NNKSB) from the Malaysian government for RM265 million.

According to Taliworks' filing to Bursa Malaysia, Jejak Melewar Sdn Bhd, in which it has a 75% indirect interest, received a letter of award today from the government to take over the assets and concession rights of the 17.5 kilometres expressway .

"The company will make the appropriate announcement upon the signing of the relevant agreements and documents to effect the aforesaid and any other developments relating to this in due course," the filing read.

NNHSB is a two-lane dual carriageway that link Port Klang to Klang town, completed since 1998.

Taliworks' shares closed eight sen or 4.26% higher at RM1.96 today, giving it a market capitalisation of RM855.52 million.

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