MPIC eyes toll road deal in Malaysia
Metro Pacific Investments Corp. has submitted an offer to acquire a toll road project in Kuala Lumpur, Malaysia.
“We’ve submitted a bid, which is still under consideration. We hope to hear from them in a month or two,” said Manuel V. Pangilinan, chairman of MPIC.
Pangilinan said MPIC remained keen on building its presence in Indonesia. It earlier raised its holdings in Indonesian infrastructure holding firm PT Nusantara Infrastructure Tbk. It also plans to enter Myanmar.
MPIC’s Southeast Asian expansion is in line with the group’s goal to create a “pan-ASEAN tollway network.
The local infrastructure conglomerate holds 29.45 percent of Don Muang Tollway Public Co. Ltd., a major toll road operator in Bangkok, Thailand and a 44.9 percent interest in CII Bridges and Roads, which has projects in Ho Chi Minh, Vietnam.
MPIC operates the North Luzon Expressway, Subic-Clark-Tarlac Expressway and Manila-Cavite Toll Expressway.