Toll charges likely to go up in the coming years

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Toll charges likely to go up in the coming years

Postby admin » Wed Jan 07, 2009 2:35 am

KUALA LUMPUR: Major highway operators in the country are expected to increase their toll charges either by 2011 or 2012.

PLUS, which operates the North-South Expressway (NSE), Kesas, Sprint and SecondLink in Johor are all expected to increase toll rates under their concessionnaire agreements.

Under a supplementary agreement signed on April 29, 2004, toll on the New Pantai Expressway (NPE) is scheduled to be raised from RM1.60 to RM2 this year.

Declassified toll agreements at the Works Ministry’s library showed that PLUS will raise its toll charges from 14.96 sen per kilometre at present to 16.46 sen by 2011 for Class One vehicles, which are private cars.

Under its supplementary agreement with the Government in 2001, Sprint is scheduled to increase toll charges from RM2 to RM3 for Bukit Penchala, RM1.50 to RM2.50 for Pantai and RM1 to RM1.50 for Damansara.

Kesas, which operates the Shah Alam Expressway, will raise its toll charges from RM2.20 for private cars to RM3 in 2012.

SecondLink’s toll charges will also be reviewed in 2012 and it is expected to impose higher rates from 2013, which will see motorcyclists having to pay RM2.10 from RM1.60 at present at the Tanjung Kupang toll plaza, and motorists up to RM13.70.

SecondLink’s previous increase was last year.

The Damansara-Puchong Highway (LDP) operator, has signed a supplementary agreement with the Govern-ment to share its profits, while PLUS and SecondLink have also inked similar deals.

Under its supplementary agreement signed in 2004, the highway operator agreed to let the Government have 20% of its revenue between 1999 and last year, and 25% between this year and 2020 if its toll collection hits the yearly projected revenue.

In an agreement in 2000, Second-Link agreed to let the Government have a half-share of its toll revenue if its actual toll collection is more than the projected toll from 2032, and 70% from 2037.

The concession expires in 2038 and the operator has projected toll revenue of about RM623mil for 2038.

DAP MP Tony Pua said the formula under the SecondLink agreement would indicate that toll charges would increase at a faster rate with more people using the link.

On his suggestion for the Government to take over LDP, Pua said it was a viable option as the Government had already paid RM630mil in compensation for a 50 sen reduction in toll charges.

In George Town, ANDREA FILMER reports Penang Chief Minister Lim Guan Eng as saying that the Federal Government should buy over all the major highway concessions in the country and run them as a business.

Read the full article:
http://thestar.com.my/news/story.asp?fi ... sec=nation
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MP: Buy back highway

Postby admin » Wed Jan 07, 2009 2:37 am

KUALA LUMPUR: Petaling Jaya Utara member of parliament Tony Pua yesterday urged the government to seriously consider buying back the Lebuhraya Damansara-Puchong from Lingkaran Trans Kota Sdn Bhd.

Pua, who visited the Works Ministry library to study the declassified toll concession agreement, said that it was more profitable for the government and less burdensome for the public if the LDP was expropriated.

After studying the agreement, he found that the construction cost of the LDP was RM1.327 billion, while the projected profit amounted to RM18.86 billion when the concession expired in 2028.

On top of that, Pua said that the government had been shelling out RM630 million as compensation since 1993 to keep the highway affordable.

"Doing the maths, it is more viable for the government to reacquire the highway," he said, adding that there was a clause which allowed the government to buy back the LDP by giving the concessionaire three months' notice.
"According to the agreement, the government will have to compensate the value of construction work and pay the outstanding amount due to shareholders at a rate of 12 per cent per annum."

He was accompanied by Serdang MP Teo Nie Ching and Kampung Tunku assemblyman Lau Weng San.

Pua said the government would have to fork out RM1.5 billion to take over the LDP.

"That's a reasonable amount, compared with compensation of RM630 million up to last year."

The government was spending RM75 million a year on compensation.

Read the full article:
http://www.nst.com.my/Wednesday/Frontpa ... index_html
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Stop lopsided toll agreements

Postby admin » Wed Jan 07, 2009 2:37 am

GEORGE TOWN: The government should not use traffic volume and bank loan guarantees if it decides to privatise the management of the second Penang Bridge.
Chief Minister Lim Guan Eng said the guarantees should not be incorporated into an agreement with any concessionaire.

Commenting on the agreement for the existing bridge with Mekar Idaman Sdn Bhd, he said it was a lopsided agreement, which benefited the company.

According to the agreement, Mekar Idaman can increase the toll rate by two per cent annually after five years of the deal being signed.

If the government refuses to approve an increment in toll rates, it has to compensate Mekar Idaman for the loss based on estimated traffic flow on the bridge.
"This is why there should be no profit guarantees in future concessionaire agreements.

"The government should be the authority setting the toll rates and they (the rates) must be fair," he said after revealing parts of the Mekar Idaman concessionaire agreement, which was made public for the first time on Monday.

The agreement, signed in September 1993, ends in May 2018.

Lim also urged the government to consider buying over highways such as the North-South Expressway and the first Penang Bridge from the present concessionaires.

"What is the logic of only one company benefiting compared with 27 million Malaysians at large?

Read the full article:
http://www.nst.com.my/Current_News/NST/ ... index_html
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