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HIGHWAY TOLL CONCESSIONAIRE,
OPERATIONS AND MAINTENANCE OPERATOR

Taliworks owns and operates two highways, specifically the Grand Saga Highway and the New North Klang Straits Bypass Expressway, also known as the Grand Sepadu Highway.

Grand Saga Sdn. Bhd. (“Grand Saga”)

The acquisition of the 55% equity interest in a then joint-venture company Cerah Sama Sdn. Bhd. (“Cerah Sama”) in 2007 marked Taliworks’ first venture into highway ownership and toll operations. Cerah Sama is the holding company of Grand Saga, a company that owns and operates the concession for the Grand Saga Highway until September 2045. The highway, one of the first four-lane dual carriageways in Malaysia, 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 reduces travel time for daily commuters. The highway concession comprises two toll plazas (with toll collection at one bound), namely the Batu 9 toll plaza (Kajang bound) and the Batu 11 toll plaza (Kuala Lumpur bound), one rest and service area and nine interchanges.

2014 marked Taliwork’s first collaboration with Employees Provident Fund Board (“EPF”) through the acquisition of an effective 31.85% equity interest in Cerah Sama via TEI Sdn. Bhd. (“TEI”). Taliworks’ effective equity interest in Cerah Sama, on the other hand, reduced from 55% to 28.05%. TEI is the immediate holding company of Cerah Sama and is set up as the flagship vehicle through which both parties can engage in the business of acquiring and operating mature cash-generating utilities/infrastructure assets in Malaysia and in developed countries. In 2015, TEI acquired the remaining 35% equity interest in Cerah Sama held by SEASAF Highway Sdn. Bhd. TEI is currently held 51% by Taliworks and 49% by EPF.

Grand Sepadu (NK) Sdn. Bhd. (“Grand Sepadu ”)

In December 2014, Taliworks through its indirect joint- venture, 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 toll 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 and the West Coast Expressway, which connects Banting in Selangor to Taiping in Perak.

Subsequently in 2015, EPF acquired a 50% equity interest in Pinggiran Muhibbah Sdn. Bhd., a company that owns a 75% equity interest in Grand Sepadu. As a result, EPF now effectively owns 37.5% equity interest in Grand Sepadu and has a 45% economic interest in the Grand Sepadu Highway. This officially marked the second partnership between Taliworks and EPF.