TO-BE-RECLAIMED LAND SWAP FOR NEW HIGHWAY: THE JELUTONG EXPRESSWAY CASE

摘要

This case study documents a novel privatisation format, one in which the highway developer, the Jelutong Development Sdn Bhd (JDSB), was compensated for the construction of a 4.7 km three-lane dual carriageway with 368 acres of mainly as yet unreclaimed land at its own expense. JDSB exhibited innovations when undertaking the project. Organisational-contractual innovations included coming up with the most attractive bid by way of most number of dwellings for low and low-medium earners and the smallest development lands as compensation. One financial-revenue innovation was generating real estate development revenue even as the highway was being constructed. The process innovations included locking-in the cost of highway construction contractually as well as through prudent management. Product innovations included dry vibro replacement technique. The paper concludes by highlighting a few salient points for highway developers and government agencies to consider when confronted with a similar project.