Following news that it could raise its toll rates next year by up to 5%, PLUS is neither refuting or confirming the claims. According to the Malay Mail, a spokesperson for the highway oncessionaire was quoted as saying that “all we can say is we will follow the agreement,” referring to Deputy Works Minister Datuk Rosnah Abdul Rashid Shirlin’s comments in Parliament yesterday.
Yesterday, Rosnah spoke of the highway concessionaire’s entitlement to raise its toll rates by as much as 5% next year, and then again every three years until December 31, 2038.
The recent widespread toll rate increases affected 18 highways across the nation, but PLUS had welcomingly announced then that none of its highways would be affected.
Now, with PLUS refusing to confirm or deny yesterday’s developments, it is naturally worrying that it could be on the verge of following the concessionaire’s agreement to increase toll rates in 2016.
The Malay Mail report also highlighted that Works Minister Datuk Fadillah Yusof said last week that the government had allocated RM593.32 million to compensate highway concessionaires if they were not allowed to increase their rates.
The Works Minister said in Parliament that the department wasn’t responsible for the increase in toll rates, but also confirmed that there are eight highways due to receive hikes next year as per initial agreements.
The English daily provided a breakdown for the PLUS highways due to be compensated by next year, as follows:
- North-South Expressway – RM214 million
- Second Link Expressway – RM8.24 million
- Elite Highway – RM79.44 million
- Butterworth-Kulim Expressway – RM3.11 million
- Serember-Port Dickson Highways – RM1.95 million
According to a Bernama report, PLUS earned an after-tax profit of RM8.4 million for the year ending December 31, 2014. Rosnah also mentioned that the total revenue for the company in the same year amounted to RM2.61 billion, based on an annual traffic volume of 506 million vehicles.
“While revenue from PLUS’ toll collection every year is high, the expenses for managing the highway was also high with every ringgit collected for toll, the concessionaire had to repay the loan interest, upgrade and repair existing highways,” Rosnah explained.
In an attempt to ease concerns, Rosnah said at the Dewan Rakyat that the government had implemented various initiatives to reduce increases in highway toll rates and therefore lower overall burdens.
“The government has shut down eight toll plazas as well as reduced toll rates at several toll plazas nationwide, namely at PJS 2 Toll Plaza at the New Pantai Expressway, Sungai Nyior Toll Plaza at the Butterworth Outer Ring expressway and the Toll Plaza at the Shah Alam Expressway (Kesas),” she said.
She concluded by saying that “this initiative is in line with the manifesto of the Barisan Nasional in the 13th general election to reduce increases in highway toll rates in stages, which are often manipulated.”
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Why is toll getting higher and higher? Very simple. It is because of Songlapping.
One man can songlap RM2.6 billion is just one news we know. What about the other times he songlap that we don’t know about? I think it runs to hundreds of billions.
Taib songlap US$20 billion (RM84 billion) also nothing happen to him. Infact he was rewarded for his songlap and made Governor and given a Tunship.
What about the songlaps by the other Menteri and Government officials?
It all runs to hundreds of billions per annum the Songlap.
This is why we get higher tolls every year. Our guardians are more interested in Songlap than fighting for the rakyat to get lower tolls and abolish the unfair contracts the concessionaires have.
1. I respect King Johari, Guan E, and Adnan. I smile in front of Datocs. A good king is better than pseudo-democrasai.
2. I love 2938, it is 9 instead of 0. Mark my words.
3. No definition of ‘maximum’. So still can pour sugar into cola.
4. Building highways is actually not that costly, the numbers are exaggerated so that people won’t get angry. What, 100million USD project highways also cannot afford? So I publicised it as 88888million USD (that I cannot afford, and have to give it to my wife’s company to do) and that is the United States of America. Yahoo, toll in USA to be extended repetitively till 2938.
Why no comment? Just say “to increase so that we can be even richer.”
Stay in Bungalow not enough… They (cronies Umno) won’t stop until they own a Mansion with at least 10 cars in the house !!! BN supporters keep making them(Dumno crony) richer and you yourself can’t even own anything beside debts !!!
Apo nak dikato lagi…thanks mr pm
10% of total revenue automatically goes to shareholders. Automatic dividend regardless of how well things are going. Wow.
The best business in this country.
i read the paper today it says it has right to increase 5% every 3 years until concession ends….OMG!!!!
You shut down the 8 toll plazas because of you manifesto? Sure? not because of low traffic?
there is no burglar in this world will comment after he can get 5% increase salary in every 3 years
More money from our pockets…where does it go to , seriously. By our country standards if it would have gone to our gov coffers , we should be 10 times richer than singapore, thai and etc. We could havelike 20 -30 autobahns in our coutry. Bullet trains for our nothern, southern regions for our brothers and sisters to come to work in Kl like Japan. But no it cost to much duit or takde duit from our ministers… Abih duit kita orang pergi mana.
Total revenue is RM2.61 billion (the amount is exactly the same of that infamous donation) and RM8.4 million profit from that gigantic revenue? Who run this company? A clearly 0.00000032% profit?? They should ask Donald trump to run this company instead.
Diam tanda setuju
Saya mau berniaga buat highway concenssionaire.
Saya mau sign kontrak dgn kerajaan malaysia yang gerentee business untung, berpuluh puluh tahun.
Mana saya boleh apply ah?