The long-delayed Maju Expressway extension (MEX II) will require around RM449 million to complete, according to Works Minister Datuk Seri Alexander Nanta Linggi.
The estimated amount was submitted by the receivers and managers (R&M) of project concessionaire MEX II Sdn Bhd in November 2024, following their review of the remaining works needed. The concessionaire has been under receivership since May 2022 after defaulting on payments for its sukuk facility.
Alexander noted that the final figure may exceed RM449 million due to increased construction costs, repair works and other expenses arising from the prolonged stoppage.
“The cost may rise further, taking into account current price conditions and rectification works required due to the long delay,” he said in a written reply to Parliament on Tuesday.
He was responding to questions from Yeo Bee Yin (PH–Puchong) on the project’s outstanding cost, expected completion timeline and whether toll hikes would be necessary due to mismanagement.
Alexander said both the completion schedule and the future toll structure for MEX II have yet to be finalised.
He added that the R&M team is preparing a full proposal that includes cash flow forecasts, financing requirements, traffic modelling, concession period adjustments and toll-rate considerations, aimed at ensuring the extension remains financially sustainable.
MEX II — a 16.8km, three-lane dual carriageway — is designed to extend the current MEX highway from the Putrajaya Interchange and connect it directly to the KLIA highway.
Construction first began in 2016, with completion originally slated for December 2019. However, the project stalled after concessionaire MEX II Sdn Bhd ran into severe financial issues. The company had raised funds through a sukuk, but fell into default in 2021 on both principal and profit payments, leading to receivership the following year.
MEX II Sdn Bhd is owned by Maju Holdings Sdn Bhd, which also controls Maju Expressway Sdn Bhd, operator of the existing 26km Maju Expressway linking Kuala Lumpur to Putrajaya and Cyberjaya.
Maju Holdings has come under increased scrutiny recently after its owner Tan Sri Abu Sahid Mohamed and former director Datuk Yap Wee Leong were separately charged with criminal breach of trust and money laundering offences related to the MEX II project.
