Buyout toll concessionaires to make roads free – MP

Buyout toll concessionaires to make roads free – MP

Subang Jaya MP Wong Chen has suggested the government undertake the management buyouts of highway toll concessionaires in the next one or two years, once it has consolidated its financial position.

The move will allow roads and highways to be made free to benefit the people and prevent the concessionaires from being used as tools for profiteering, as reported by Bernama. Combined with a revision to toll charges expected to be made this week, the financial burden of the rakyat is expected to be lightened over the long run.

“Whether we can afford to buy up all these tolls later and make them free is an issue of fiscal prudence and what the economic priority should be,” noted Chen. He added that the imminent revision on toll rates is a start in lessening the amount motorists will need to pay.

Buyout toll concessionaires to make roads free – MP

Last week, Tan Sri Zeti Akhtar Aziz, who is part of the five-member Council of Eminent Persons, said the group will meet with related agencies and shareholders to discuss toll restructuring. In its GE14 manifesto, Pakatan Harapan promised a gradual abolishment of tolls over the next five years.

However, such a move won’t be an easy one as RM53 billion in bonds and Sukuk issued by toll concessionaires will be affected if the government abolishes tolls. This is according to RAM Ratings Services, one of the largest credit rating agencies in Malaysia, in a report by The Star.

Relating to the matter, Tun Daim Zainuddin, another member of the Council of Eminent Persons, said in a report by The Edge that shareholders of toll concessionaires have “plenty of cash” to cushion the impact from a reduction or elimination of tolls.

Looking to sell your car? Sell it with Carro.

Certified Pre-Owned - 1 Year Warranty

10% discount when you renew your car insurance

Compare prices between different insurer providers and use the promo code 'PAULTAN10' when you make your payment to save the most on your car insurance renewal compared to other competing services.

Car Insurance

Gerard Lye

Originating from the corporate world with a background in finance and economics, Gerard's strong love for cars led him to take the plunge into the automotive media industry. It was only then did he realise that there are more things to a car than just horsepower count.

 

Comments

  • Malaysian pipu must prepare to say gudbye to 6.9% EPF dividend just to subsidise frequent toll users.

    Like or Dislike: Thumb up 66 Thumb down 67
    • EPF owns blue chip UMW Toyota. sapot Toyota!

      Like or Dislike: Thumb up 16 Thumb down 3
      • Toyota waterfall sales. Meanwhile Bapak P1 is now BACK so must sapot P1 again.

        Like or Dislike: Thumb up 24 Thumb down 24
        • Already proven fake news by PT still muka tebal and come here to spread more?

          https://paultan.org/2018/05/08/pt-talks-q1-2018-sales-bordwvard-and-g20-bmw-3-series/

          Like or Dislike: Thumb up 16 Thumb down 1
      • Richard Sambrani on May 21, 2018 at 3:26 pm

        john, pls don’t be a batu api. Pakatan Government got no dedak and stealing like your party. Don’t stir problem here. This is why your party lost badly. People are fed up with cybertroopers like you

        Like or Dislike: Thumb up 18 Thumb down 6
        • PH gomen is also looking for dedak and new way to steal. Examples are already there in the form of Ijok and RM305 tunnel feasibility study.

          Like or Dislike: Thumb up 10 Thumb down 20
          • ganni on May 21, 2018 at 3:47 pm

            Pembangkang pipu must fix their ingratitude and slander. Ooowai

            Like or Dislike: Thumb up 14 Thumb down 1
          • Wow, still got BN macais remaining…

            PS: Actually RM305 tunnel feasibility study is quite cheap ;)

            Like or Dislike: Thumb up 15 Thumb down 2
          • Richard Sambrani on May 21, 2018 at 3:57 pm

            soon pembangkang will run out of money……ooooh wai

            Like or Dislike: Thumb up 5 Thumb down 3
  • Mrs Peduli Sihat on May 21, 2018 at 11:57 am

    Rather than advocating elimination of tolls, focus shud be on improving public Education, affordable housing, healthcare services & welfare esp B40 segment & under privileged family

    Like or Dislike: Thumb up 44 Thumb down 1
    • Those r BN Manifesto, and they lost. PH Manifesto is populist, and they won. Guess which is more important to MY voters?

      Like or Dislike: Thumb up 40 Thumb down 50
      • Bersih on May 21, 2018 at 1:11 pm

        Bn lost not bcoz of manifesto but bcoz of corruption. If PH never won, Malaysians would never find out the ridiculous amount of corruptions found in previous PM’s house. Malaysians made the right choice. The rest has woke up so it’s time for u to wake up

        Like or Dislike: Thumb up 40 Thumb down 4
      • lanbotak on May 21, 2018 at 1:13 pm

        hutang MY 1 trillion brape sifar

        Like or Dislike: Thumb up 19 Thumb down 7
  • The question is where to find 53 billion plus interests to pay off the concessionnaires ?

    Like or Dislike: Thumb up 10 Thumb down 2
    • Errrr…..Saudi donation again

      Like or Dislike: Thumb up 4 Thumb down 0
      • Deswai we need Najib back. Only he can do it

        Like or Dislike: Thumb up 3 Thumb down 5
        • Gomorrah on May 21, 2018 at 9:22 pm

          Yep for once you are right. Only he can get the donation and spend it before it’s used to pay for the hutang. Again.

          Like or Dislike: Thumb up 4 Thumb down 0
    • TopsyBoxyTurvy on May 21, 2018 at 1:24 pm

      where to find 53 billion?
      Lelong birkin handbag, rolex, jewelry, yacht….

      Like or Dislike: Thumb up 15 Thumb down 3
    • if p1 n p2 merges already,,we could kot!

      Like or Dislike: Thumb up 0 Thumb down 0
    • Rename Ringgit Rupiah on May 21, 2018 at 2:12 pm

      Easy to find 53 billion plus interests… Ringgit become Rupiah… problem solved…

      Like or Dislike: Thumb up 1 Thumb down 1
    • zackyfullamakfuyooo on May 21, 2018 at 2:26 pm

      Haiyaaaaa……why last time dont think about that???very easy to abolish this….abolish that….now also same janji dicapati one….hahaha…GO…GO….GO….PH…….GO!!!!

      Like or Dislike: Thumb up 10 Thumb down 1
  • Gojeng on May 21, 2018 at 1:18 pm

    As much as I am very skeptical about this idea, I really hope it will come into fruition soon. Abolish the tolls, especially the intra-city ones like the LDP.

    Like or Dislike: Thumb up 2 Thumb down 0
  • Digidigi on May 21, 2018 at 1:26 pm

    After that the highway will be lubang here lubang there, really kampung mindset

    Like or Dislike: Thumb up 6 Thumb down 3
  • seancorr (Member) on May 21, 2018 at 1:34 pm

    Can…..but first need to get back the stolen 1MDB.

    Like or Dislike: Thumb up 4 Thumb down 2
  • johnissohai on May 21, 2018 at 2:51 pm

    john is actually the nickname of najib

    Like or Dislike: Thumb up 4 Thumb down 3
  • Malaysian1st on May 21, 2018 at 3:28 pm

    For me, it is impossible to abolish everything. but if the government can make an effort to at least abolish some of major tolls in Lembah Klang, for me thats consider Janji Ditepati already. Understandable lah for tolls North-East highway to wait later stage or gradually reduce. Most critical for cost of living are those tolls that is nearby Lembah Klang. like puchong – keluar toll, masuk toll, masuk toll, keluar toll. never ending story, and yet need to pay GST and no fuel subsidies. At least give us back some benefits as taxpayers lah. Ni semua kasi hentam, dia beli bag sampai 284kotak, worth millions….puihh

    Like or Dislike: Thumb up 6 Thumb down 4
  • No way on May 21, 2018 at 3:41 pm

    No way.. I’m not gonna allow my money to be used to pay off the toll highways. Why should i fund the highways when i rarely use them. This will most benefit those staying in Klang Valley, Penang and other west coast state.. What about us in East Coast?

    Like or Dislike: Thumb up 9 Thumb down 5
    • East Coast not getting their fair share of oil royalty, yet living in poverty and still must subsidy rich pipu using hiways.

      Like or Dislike: Thumb up 8 Thumb down 12
      • Gomorrah on May 21, 2018 at 9:24 pm

        Wah your big boss had 9 years to do it but didn’t. So how? Can blame his predecessor all you want, but your boss had 9 years to make it right. He didn’t.

        Like or Dislike: Thumb up 6 Thumb down 1
        • 9 years saja. Ur boss had 22 years. More than 3 kali ganda to make it right. What say u now?

          Like or Dislike: Thumb up 7 Thumb down 9
          • Gomorrah on May 21, 2018 at 11:22 pm

            Your boss’s father started it right. Ripping off the East Coast and the East Malaysians of their oil rights. Right from independence with the other ultras in UMNO. Bapa borek anak rintik la. That’s why ok by you right. So what say you then?

            Like or Dislike: Thumb up 3 Thumb down 1
          • Habis la jib

            Like or Dislike: Thumb up 2 Thumb down 0
    • Lawson on May 21, 2018 at 4:43 pm

      Goverment to buy over toll concessions and sell to EPF at 1/5 of the price paid. Then for EPF to manage it for 999 years. I willing pay for any toll rates. Profit goes back to rakyat. Same for water concession etc etc. “By the rakyat and for the rakyat”. It is one way to spread the wealth to the rakyat. For any IPO we should have a law that require them to offer to EPF, as 1st preference, for taking up to 20% of shares on offer.

      Like or Dislike: Thumb up 3 Thumb down 1
  • Leonardo on May 21, 2018 at 4:40 pm

    Abolishing tolls sound like an excellent idea. You get nice roads and highways but you want it for free. That my be true in Xanadu…
    But back to reality, who is going to pay for road maintenance and improvements? The Government is going to fork up a lot of money to maintain all the roads in Malaysia and probably little money left to build more schools, hospitals, houses, amenities, etc.

    Like or Dislike: Thumb up 8 Thumb down 0
  • MailPP on May 22, 2018 at 12:12 am

    Lim Guan Eng you promise no toll for Penang bridge. Please do it now since you are the finance minister, no need to wait for PM approval.

    Like or Dislike: Thumb up 1 Thumb down 2
  • Zainal on May 22, 2018 at 6:08 am

    Daim is the real holy man

    Like or Dislike: Thumb up 1 Thumb down 0
    • Ismail on May 22, 2018 at 11:17 am

      Nothing wrong wth 1MDB, highway wth toll, problem start with coruption, greed, proxy, markup cost, commission, CBT.
      Just choose the right leader. Who??? Use your head. For example, whose word to trust btwn Rafizi Ramli and Ahmad Mazlan, or btwn Tony Phua and Nur Jazlan?

      Like or Dislike: Thumb up 0 Thumb down 0
  • Ben Yap on May 22, 2018 at 10:51 am

    When Wong Chen started bashing the government on the 3 minister roles, i lost respect for him.

    Like or Dislike: Thumb up 0 Thumb down 0
 

Add a comment

required

required