KUALA LUMPUR — Nov. 23, 2018: A subsidiary of Malaysian Resources Corporation Berhad has received a RM1.325 billion settlement sum from the government for the mutual termination of the Eastern Dispersal Link (EDL) concession in Johor.
MRCB Lingkaran Selatan Sdn. Bhd. (MLSSB) was awarded the concession pursuant to a 34-year concession agreement signed on June 26, 2007.
Under the agreement, MLSSB was granted the right to design, construct, manage, operate and maintain the EDL, the administrative office and the ancillary facilities on the EDL, as well as to demand, collect and to retain toll from all vehicles liable to pay toll.
Tolling on the EDL was based on an open concept, whereby motorists entering and exiting the causeway will be charged a flat rate, depending on their vehicle classification.
On December 22, 2017, MLSSB received a letter from the Ministry of Works informing that toll collection would be stopped effective last January 1 and that the concession period would end on December 31, 2017, after which the government would take over the expressway.
“The concession termination does not entail any transfer or disposal of MLSSB and MRCB Southern Link Bhd to the government,” MRCB told Bursa Malaysia. — Bernama