- MTD Cap have made a RM3.25 billion cash offer to acquire the entire business and undertaking of MTD Prime Sdn Bhd and Metramac Corp Sdn Bhd including all their assets and liabilities. MTD Cap owns 100% of MTD Prime and Metramac.
- Offer made by its group executive chairman Nik Hussain Abdul Rahman and the president/chief executive officer Azmil Khalili Khalid.
- MTD Prime is the tolling concessionaire for the Kuala Lumpur - Karak Highway and its extension, the East Coast Expressway Phase 1 (ECE1).
- The 60 km KL Karak Highway is the main thorough fare connecting the Klang Valley and Karak Town whilst the 174km ECE 1 begins from Karak to Jabor.
- Metramac Corporation Sdn Bhd was granted the concession on four toll roads in 1992. The four toll roads under the concession awarded to Metramac were:
- Jalan Pahang,
- Jalan Cheras,
- East-West Link Expressway
- KL-Seremban Expressway
- The toll concession of Jalan Cheras and Jalan Pahang were handed over to the government on Sept 14, 2003 and March 18, 2004.
- PM said there will be no toll hike for the Kuala Lumpur-Karak and phase one of the East Coast highway for 5 years, effective from May this year.
- In response to the government’s request, the companies had come forward to provide a restructuring plan via the acquisition of the concession assets.
- PM also requested that the concession period be not extended and there will be no compensation to be paid by the government for the arrears in the toll review.
- The proposal involve the termination of the toll concession for the East-West Highway connecting the Salak interchange and Taman Connaught interchange, KL ahead of the scheduled closure, which is 2018.
- Earlier MTD Cap has received a takeover offer from a consortium value of RM2.61bill.
- Consortium consist of :
- Nikvest Sdn Bhd,
- Alloy Consolidated Sdn Bhd,
- Alloy Concrete Engineering Sdn Bhd and
- Alloy Capital Sdn Bhd
- Consortium collectively own 131.48 million shares or 53% stake in the company offered RM9.50 a share to acquire the balance 116.02 million shares or 47% stake they did not already own. They have received acceptances of 7.57%.
- Also to acquire the remaining 49.23% stake, or 113.72 million shares of MTD ACPI for RM0.53 per share.
