PETALING JAYA: Government to take over Eastern Dispersal Link (EDL) from Malaysian Resources Corp Bhd for RM1.3 billion.
The amount is about 16% lower than its RM1.55 billion valuation.
To recap, toll collections at the EDL have been abolished since Jan 1, 2018 pending disposal of the highway by MRCB Southern Link, a unit of MRCB. The expressway has an outstanding debt of RM1.02 billion.
Former Prime Minister Datuk Seri Najib Razak had announced that toll collection would be abolished at EDL, along with the Batu Tiga and Sungai Rasau toll plazas on the Federal Highway in the Klang Valley, and at Bukit Kayu Hitam in Kedah, in his Budget 2018 speech.
Source: The Sun Daily