Steady return on SE Asia infrastructure
Most of the commuters who take Malaysia’s Cheras-Kajang Highway each day likely don’t spare a thought for its operators unless they are paying a toll. It might be a source of national pride as one of the first four-lane dual carriageways in the nation, but its users seek reliability rather than excitement.
Reliability has been the watchword for the road's operators, Grand Saga - as well as for CapAsia, which paid about $10 million in 2007 for a 35% stake in Cerah Sama, Grand Saga's parent company. That investment...
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