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HIGHWAY TOLL CONCESSIONAIRE,
OPERATIONS AND MAINTENANCE OPERATOR

Taliworks first ventured into highway ownership and toll operations when it acquired a 55% equity interest in Cerah Sama Sdn. Bhd. (“Cerah Sama”) in 2007. Cerah Sama is the holding company of Grand Saga Sdn. Bhd. (“Grand Saga”), a company that owns and operates the concession for the Grand Saga Highway until September 2045. The highway is one of the first four-lane dual carriageways in Malaysia and it measures approximately 11.5 km in length, stretching from the Connaught Interchange, Cheras to Saujana Impian, Kajang. Whilst plying the densely populated and fast growing Cheras-Kajang vicinity, it eases traffic congestion and minimises travel time for daily commuters. The highway concession comprises two toll plazas (with toll collection at one bound) i.e. the Batu 9 toll plaza (Kajang bound) and the Batu 11 toll plaza (Kuala Lumpur bound), one rest and service area and nine interchanges.

In 2014, Taliworks completed its first collaboration with Employees Provident Fund Board via TEI Sdn. Bhd. (“TEI”) which Taliworks and EPF has 51% and 49% equity interest respectively. TEI is the immediate holding company of Cerah Sama and is set up as the flagship vehicle through which both parties will engage in the business of acquiring and operating mature cash-generating utilities/infrastructure assets in Malaysia and in developed countries.

In December 2014, Taliworks through its indirect joint-venture, Grand Sepadu (NK) Sdn. Bhd. (“Grand Sepadu”) acquired the assets and concession rights to the New North Klang Straits Bypass Expressway (“Grand Sepadu Highway”) from Lebuhraya Shapadu Sdn. Bhd. (In Liquidation) for a cash consideration of RM265 million with an 18-year concession ending in December 2032.

The Grand Sepadu Highway, which commenced tolling operations in 2002, is a 17.5 km two-lane dual and three lane carriageway highway which links North Port to Bukit Raja, Klang. The Grand Sepadu Highway is partly parallel to the old tolled North Klang Straits Bypass (which became a non-tolled road after the Grand Sepadu Highway became operational) and is linked to the Federal Highway, the New Klang Valley Expressway (“NKVE”) and the upcoming West Coast Expressway, which will connect Banting in Selangor to Taiping in Perak.

In 2015, EPF acquired a 50% equity interest in Pinggiran Muhibbah Sdn. Bhd. (“Pinggiran Muhibbah”), a company that owns 75% equity interest in Grand Sepadu. This partnership resulted in EPF effectively owning 37.5% equity interest in Grand Sepadu and 45% economic interest in the Grand Sepadu Highway and this officially marks the second partnership between Taliworks and EPF.