KUALA LUMPUR (Dec 30): AFA Infrastructure and Development Sdn Bhd and Hitech Nexus (M) Sdn Bhd have officially expressed interests to take over the MEX highways from Maju Holdings Sdn Bhd.

AFA Infrastructure chairman Tan Sri Dr Azmil Khalid and Hitech Nexus director Wong Sui Ee had written separately on Dec 8 and Dec 18 to the receiver-and-manager as well as Maju Holdings for the acquisition, according to court documents sighted by The Edge.

The acquisition of MEX II is “strictly contingent” on the successful takeover of the MEX I Expressway, Azmil wrote in his letter. “The integration of both assets is essential to ensure operational efficiency and the long term sustainability of the MEX network,” he said.

Pembinaan Melima (M) Sdn Bhd, one of Maju Holdings’ creditors, has applied to the High Court to appoint interim judicial managers to see whether the proposals are genuine after another creditor Bridgex Sdn Bhd filed a winding-up petition against Maju Holdings.

Maju Holdings’ application to be placed under judicial management was also dismissed by the High Court last month. MEX II is now under receivership of BDO Malaysia.

 “I respectfully request a six-month exclusive lock out period, with a further six months extension if required, during which no parallel negotiations for MEX II are conducted. This is sufficient time to conclude discussions with the MEX I expressway stakeholders and structure a comprehensive proposal,” the letter by Azmil said.

Meanwhile, Hitech Nexus’ Wong is separately keen on acquiring the MEX I Expressway, including the concession and all rights and entitlements to the critical infrastructure asset.

“We are also aware that any proposal must prioritise continuity of operations, traffic flow, financial sustainability and long term viability of the MEX I highway network as a whole including the MEX II highway,” Wong said in seeking discussion on its preliminary proposal.

There was little information available on Hitech Nexus, which shares the same principal place of business as Atrium REIT (KL:ATRIUM). Wong is an executive director in charge of financial management at the real estate investment trust that mainly focuses on industrial properties.

The letters were submitted in Pembinaan Melima’s court documents and they were also brought up in open court proceedings on Tuesday. There was a third company also interested in Maju Holdings, though The Edge is withholding the identity as no official letter was submitted.

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