The concessionaire for the Sultan Abdul Halim Muadzam Shah or the Second Penang Bridge, Jambatan Kedua Sdn Bhd (JKSB), has been urged to consider providing toll discounts to attract more users, reports Bernama. The Auditor General’s Report 2017 Series 1 on the Management of Government Companies and Federal Government Agencies said despite the satisfactory toll collection, four financial analysis studies indicate that JKSB’s overall financial position was still unstable.
The report revealed that the company had posted annual losses for three years in a row, with accumulated losses rising. “In addition, toll collections could still not cover the high expenses and debt liabilities as compared to the total assets,” it said.
On the flip side, as of last year, traffic on the Second Bridge had risen by 1.97 million vehicles or 32.4% compared to 2016, with toll collection standing at RM38.64 million or 29.5% higher than the previous year.
Some of the factors for the deficit include the new bridge being 30 minutes away from the main towns, which can discourage some people. Also, the Penang Bridge concessionaire provides a 20% discount for Penang residents registered with PLUS (for the first bridge). In response to this, JKSB said it is forecasting a modest seven percent rise (or RM2.68 million) rise in toll collection this year compared to last year.
It also expects an increase in traffic volume in stages with the completion of the rest and recreation (R&R) project in the fourth quarter of this year. An additional 20% increase in traffic volume is also expected after the opening of the new Bayan Lepas Expressway that is connected to the Penang Second Bridge.
Meanwhile, prior to winning the 14th General Election, the Pakatan Harapan coalition promised to waive all toll charges for motorists who use the Penang Bridge. Similarly, the coalition-turned-government also announced in its manifesto that it will abolish toll collection if it won GE14, but has recently announced that the move will cost over RM400 billion.
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“Terima kasih” Pak Lah untuk jambatan yang amat kagum ni tak pernah saya pakai sekali pon
Cannot give free toll lah. Before PH took over, they did not know corruption was 100X more than they expected.
For example, before PH took over, they estimated corruption to be RM100 billion per year. After they took over and saw the books and hidden red files, they now see corruption RM1000 billion. This example only.
So how to give free tolls now?
High management earning high salaries and fat bonuses. Malaysian style. Unknown revenue yet giving high pay
Promise is a promise. Lim Guan Eng said immediately abolish after winning. Now he says hutang 1 trilion, but still want to do 3rd national car and Penang Low Cost airport.
With politicians like this, is there really Harapan for Malaysia?
The building of the Penang Low Cost Airport is to earn extra revenue and must be implemented immediately. It takes money to earn more money. As for the 3rd national car project, it might or might not proceed at all.
In case you missed all the stories, Perotiga will happen. It’s even covered by paultan
Should’ve built a train bridge (or tunnel) instead…
Then train stops at where? Theres no train service on island yo!
Siap IKEA nanti laku la second bridge tu nanti… :)
do some promo la… look at lekas highway, they promote themselves with annual bike ride.
be more aggressive in promoting your highway la.
Don’t you understand the cost is not the main factor of low usage of the bridge?. The location and the length is! Butterworth n prai ppls will not use it. Even BM ppls wont also because is too far away. Those ppls till use 1st bridge during peak office hrs because is nearer. The 2nd bridge only benefits those ppls fr island n wish to head to ipoh or south.