When the certificate of practical completion for the Duta-Ulu Klang Expressway (DUKE) Phase 2 is issued, the EPF will pay another RM60 million. The tycoon owns Credence Resources Sdn Bhd, which holds a 60% stake in Iskandar Waterfront Holdings Sdn Bhd (IWH). “Back then, DUKE was considered a greenfield project.”The future earnings of DUKE are understood to be attractive. DUKE Phase 1 is expected to see traffic volume growth of 10% in 2017, 5% in 2018 and 2% from 2019 onwards until 2059. “It looks like a fair deal with the amount of capex spent on DUKE Phase 2.

Source: The Edge Markets October 11, 2016 09:11 UTC