news

Setiawangsa-Pantai Expressway on track to be completed by 1Q20


KUALA LUMPUR (Nov 27): The RM3.78 billion Setiawangsa-Pantai Expressway (SPE) is on track for full completion by the first quarter of 2020 (1Q20).

The project, also known as the Duta-Ulu Kelang Expressway (DUKE) Phase-3 project, is currently 50% complete, and the group is committed to complete the project as scheduled, Ekovest Bhd managing director Datuk Seri Lim Keng Cheng told the press after the group's annual general meeting here today.

The SPE, which will traverse north to south of Kuala Lumpur, will serve areas such as University Tunku Abdul Rahman, Wangsa Maju, Setiawangsa, Ampang, the Tun Razak Exchage and Bandar Malaysia development corridor, and Kerinchi.

On the group's prospect, Lim expects the financial performance for financial year ending June 30, 2019 (FY19) to continue to be positive, mainly driven by the construction segment.

For its construction division, Lim said Ekovest has submitted a tender book amounting to RM6 billion, of which RM3-4 million will be from projects in Sabah and Sarawak and the remaining from Kuala Lumpur.

At 1.19pm, Ekovest fell one sen or 2.06% to 47.5 sen, valuing the group RM1.02 billion. — theedgemarkets.com

Click here for more property stories.

Looking for properties to buy or rent? With >150,000 exclusive listings, including undervalued properties, from vetted Pro Agents, you can now easily find the right property on Malaysia's leading property portal EdgeProp! You can also get free past transacted data and use our proprietary Edge Reference Price tool, to make an informed purchase.
SHARE
RELATED POSTS
  1. Ekovest, IWCity among most actives after news on revival of mega projects
  2. Ekovest 2QFY20 net profit down 34%
  3. Fajarbaru bags two more SPE highway jobs for RM42m