According to a report by The Star, the government has paid RM1.325 billion to Malaysian Resources Corporation Bhd (MRCB) as settlement for ending the concession for the Eastern Dispersal Link Expressway (EDL) in Johor.
The payment was received by MRCB via its wholly-owned subsidiary, MRCB Lingkaran Selatan Sdn Bhd, with company chief financial officer Ann Wan Tee saying the payment marked the end of the non-core asset rationalisation programme in relation to MRCB’s corporate transformation.
“We would like to thank the government for the speedy conclusion of negotiations and the payment of the RM1.325bil settlement sum, which considerably strengthens the company’s balance sheet,” said Ann.
On January 1 this year, toll collection ended at four locations, including PLUS Batu Tiga and Sungau Rasau in Selangor, as well as Bukit Kayu Hitam in Kedah. This was in line with what was announced by then prime minister Datuk Seri Najib Tun Razak in Budget 2018.
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MRCB is GLC, so money just goes from left pocket to right pocket, Government retains the money while rakyat enjoys the toll free.
Pakatan, this is how you abolish tolls not talk stories and give excuses, but execution yelek.
Current Government has to spend so much in compensation because of 60 years of corruption.
Previously, highway concessionaires made 1KM for RM100 million. The highest in the world. And this also, using super cheap Bangladeshi labour.
RM100 million per KM also does not include land or house acquisition.
And previous Government just pay the concessionaire no matter how expensive the highway concessionaire quote.
Now we pay
Deswai MRCB waterfall after 09th May. Sighh
Not just MRCB, all stocks waterfall after May 9. Investors have no confidence in Pakatan, and now we can see why. They are utterly incapable.
all stoxx durian jatuh xcept UMW link Kwsp
30 million people chose wisely. Stocks fall because global fall. Dont lie to us john
Sigh. I dun wanna say anything here cuz the pipu has vented their frustrations alredi. But just becoz u r so free to create fake dupes and talk bollocks dun mean I will do the same lor. I say again, stop bringing me into ur stupidity.
Stocks fall but oil & RM up.
jangan tipu ye…stock Singapura pun jatuh. Stock dunia pun jatuh
Mrcb major shareholder is Gapurna Sdn Bhd … An Umno linked company . Those that think MRCB is solely GLC is because that’s what they want people to think
Kasihan…no more free ride for the lasy people
Takmau bukak aib sendri. Tutup la oii…
In 6 months, New Government has cleaned up so much of rot in our country. Those angry with New Government are those who have no more dedak
Namedrop & status is our Msian culture.
Highway concessions were made by your Leader. The previous Government had to pay for his mistakes.
So whose fault is it that we pay? Of course is your Leader, and by extension Pakatan as well. Many of those politicians and related parties in the highway agreement are aligned with them now.
now everybody must work hard. Cannot be lazy anymore and expect everything free
Make all Malaysians equal. Just like Indonesia and Thailand. All rakyat in Malaysia are same same. Equal status. Then you will see Malaysia first world
Equality? Sure, just take the wealth and properties of the T20 & M40, then redistribute it EQUALLY to the B40. Is that equal enough for you?
too many pampered people in Malaysia always want things easy in life
Those holding all the aces will always say they want ‘equality’ or ‘equity’ or any of the trendy buzzwords to make them look all good like knight in shining armour in order to hide the truth that they’re a bunch is stingy, wealth hoarding, manipulative back stabbers who’d rather kill everyone than play fair.
Now GLC and Putrajaya people all have to work hard like normal companies.
this is why TM staff got angry and make petition to buang Gobind. Because they are not used t hard work.
Correct. GLCs & Putrajaya will be repiratised to his cronies once more. New Malaysia is nothing more than Older Malaysia.
TM staff is angry due to gov ask TM to rent its ports to the green below cost price. It is a free market, why should gov set the price.
Too bad uneducated voters were swayed by talks of change while real, meaningful change, had come from the previous Gomen. We were fooled for the next 4 years.
Agree with you!
LOL for those who are not in the know and not involved in the revived govt projects, let me give you a bit of inside insight – Tun Daim and his people have taken up a significant stake in MRCB and the impending revival of ECRL and HSR will involve MRCB front and center. MRCB is also involved in the heavily inflated Penang projects now. Now you know why the federal government is paying a billion bucks to MRCB? You’re welcome.
EDL toll abolished was done during Najib budeget 2018 and clearly stated in this article. Please take note in PH budget not single toll road are abolished.
Don’t always complaint toll lar. Cannot afford toll pls take motorbike. FOC from perlis to johor!
EDL tol purely commercial decision. So NFA!!
Mesia ekonomi wayy better back then, easily billions thrown around to prime local spending..
exorbitant cost , inferior quality road, life threatening entry and exit route. poor traffic management at junctions.
Privatized profits and socialized losses …Deeep but it’s fact. Ayah ajar saya pahamm
Nobe question…does the company still own the highway after Gov fully settled them? Who maintain the road? Like Jalan Kuching…who owns it now?
When is the turn for LDP & Kesas?