Ekovest to sign on partners for DUKE 3, after 50% completion

KUALA LUMPUR: Ekovest Bhd will most likely decide on its strategic partners for the Setiawangsa-Pantai Expressway (SPE), formerly known as DUKE 3, when the highway reaches 50% completion.
Managing director Datuk Lim Keng Cheng said SPE is currently at an 8% progress now and waiting for it to be half-completed first will gain people's confidence on its completion, its construction risks and the highway will be better valued then.
"If too early, people will think of negative things whether it (the project) can take off or not," he told reporters at a media hi-tea event here yesterday.
On the weakening ringgit, he said it will not have a big impact on its construction business as most of the materials are sourced locally, while the exposure of steelbars to the currency fluctuation is only 3%.
He explained that steel bars only make up 10% in construction, of which 30% of the components in steel bars are imported.