The government, via the Minister of Finance Inc (MOF Inc), has made a RM6.2 billion offer to take over the operators of the Lebuhraya Damansara Puchong (LDP), Sistem Penyuraian Trafik KL Barat (Sprint), Lebuhraya Shah Alam (Kesas) and the Smart Tunnel, The Star reported, based on filings to Bursa Malaysia. The four toll concessionaires are all linked to Gamuda Bhd.
This plan was first mentioned in February, when the prime minister’s office noted that Pakatan Harapan has promised in its election manifesto to take steps to acquire highway concessions and abolish toll collection in stages, in accordance to the terms of the concession agreement. This is to alleviate the high cost of living for city commuters.
It said then that as a first step, the government will talk to Gamuda to negotiate the acquisition of highway concessions in which the company has a majority stake, which are the LDP, Sprint, Kesas and Smart Tunnel. Upon successful takeover of the highways, the government intends to abolish the existing toll mechanism, the statement said.
In today’s filing with Bursa, Litrak, the operator of the LDP, said it has received a RM2.47 billion take over offer from the government. The company also said the government has offered to buy its 50% owned associate company Sprint for RM1.984 billion.
The take over offers will be undertaken by a special purpose company wholly owned by MOF Inc, which is simultaneously making similar offers to acquire Kesas and the Smart Tunnel. Gamuda’s stakes in Litrak, Sprint, Kesas and Smart are 44%, 52%, 70% and 50%, respectively.
So, no more toll in the near future? Not likely. In February, the government proposed a ‘congestion charge’ system where commuters will pay what’s equivalent to the existing toll charges for six hours of ‘peak period’ a day. In the proposal, during the ‘off-peak’ period between 11pm and 5am, commuters can travel on the highways for free, while rates for ‘normal’ hours will be discounted by up to 30% compared to today’s fares.
The revenue collected from the congestion charge will go towards the operations and maintenance of the highways and repayment of borrowings, and any surplus collected will be channeled into a public transportation fund to improve the quality of public transport, the statement said.
Then, transport minister Anthony Loke explained that the congestion charge is to spread out traffic. “The congestion charge is imposed during the morning, during peak hours – at the same rate. What we are trying to encourage is for people to spread out traffic,” he said, adding that congestion charges was already practised in other countries.
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Can’t wait for this to be real. No more paying tolls when driving at night!
One year later and still deciding to do or not. Manifesto can go into trash can lor.
Rilek le. You prefer One year later or Sixty year
30 years ago we never had that problem, it is only by that one man 30 years ago and now PH brought him back to screw us once more. We could have had 60 more years free from his clutches but the people made the wrong choice last year. Really regret it.
Too much of pampering and privileges people want. Majority have this entitlement mentality. Too used to bantuan.
2018 – promise
2019 – talking
2020 – discussing
2021 – more discussion
2022 – postponed because suddenly no money
2023 – promise again
(rinse and repeat for the rest of the years if they get reelected)
Outcome? Plenty of hot air but no results. Pakatan Hotair saja.
I like this method.
Malaysian must stop thinking like stone age people. No such things as free ride.
Congestion charge should be imposed at all state.
Pity our Government now. Before they took over, they thought debt was very low so they made such promise. After they took over, they saw damage was 100X worse than expected. So how to give free now??
They spent all 1st, we pay now. So no problem
If PH gomen didn’t spend money to prop up their image by hiring an army of internet trolls, we would have plenty of money to abolish all tolls without a buyout. Isn’t that what they had promised?
Well done Loke. In 1 year you have accomplished like 10 years work.
Really proud of the work you have done. Pure dedication and honesty pays.
Another u turn coming…mark my words…
RM6.2 billion better buy 6biji kapal Equanimity.
At least got RV compared to horses in Argentinian ranch.
So much money wasted before. At least now, we are more prudent. Well managed money
Khazanah reported the last financial year they had lost RM6.3 Billion thanks to government mismanagement. That 6.3B could have been used to buyout these 4 highways, now we have to foot RM 12.5 Billion just to cover up PH incompetence. And that is just highway, what about the massive Billions needed to honour their promise of RM1.50/l petrol?
I will believe it when I see it, but so far PH have proved to be utterly disappointing in their actions vs their promises. Some have even been uturned.
I still waiting for BN promise to reduce car prices by 30%
Don’t point others mistakes when you yourself got unfulfilled promises.
X70 compared with CRV 1.5T has Rm40,000 reduction. Massive savings bro. Janji has been ditepati by BN. What about PH janji? All still waiting….
You must see the utterly disappointing damage in Lth, Felda, Kwap done past 10years. Seeing is believing …who is repairing now
Country is in so much of debt because past mistakes were never addressed
Which country in this world doesn’t have debts. You must be quite stupid to believe otherwise.
Making up promises but still unfulfilled. Parti Hampeh! Phui!
See, finally our beloved Government is going to honour their promises.
All the fanboys and dedak sapoters all expected overnight miracles.
Hello, be real lah. It takes time to do things. 60 years of mess cannot be cleaned up in one day.
Government is not like you want everything fast fast and want the easy way of doing things.
Give our Government time to honour their promises.
Oh by the way, no such promise of RM1.50/L petrol ya! Please don’t spread fake news anymore.
Thank you Gomen!!!
Talk so much but one year later and still talking. Blinded supporters are really dumb and blind. Hahahaha….
YB Kunta Kinte becomes Chicken George?
It’s everywhere on the internet you just need to work harder to search for it. Try to work hard instead of complaining that there is no such promises. They had made that promise in GE14. In real world you can expect mommy to feed you but on the internet, the community won’t pamper your petulance and cries of everything is fake news.
Work harder to find your answers then you will complain less.
True that bro, work harder. You can expect mommy to feed you but the automotive community won’t pamper you. Competition makes you stronger.
Some car people refuse to accept reality. Their ego has blinded them to the point they cannot tell what is real and what only exists in their mind, delusional.
They more often than not display racist, biased prejudice, and they seem fond of their skin colour and carbrand worship. Foolish bastards that seek to get in the way of nation’s progress.
They got their car industry protection and racial quotas all these years, and where did that bring them? Utter ruin. Now they have been shown the error of their way, they beg, steal and plunder, they won’t get it! What did they do? Greed and lazyness made them refuse to earn their keep, instead demand special treatment, crying wolf. Work harder then you will complain less.
C’mon ayuh Malaysia!
Perfectly said. You see, even Thailand, Indonesia and Vietnam has overtaken Malaysia because they have a good system
mommy government cannot give you bantuan all the time
Malaysians are too pampered and want bantuan kerajaan all the time.
Instead of complaining, work harder. Singapore people work hard, this is why their GDP per Capita is 3rd highest in the world
Other countries nobody complain about tolls because they know toll money collected goes to building the country
But in Malaysia, everybody complain. Learn to work hard and don’t always ask Government to help.
All the special privileges don’t exist in other countries
while in MY i pay toll for company whose the owner are enjoying million salary and even paying toll still stuck in the jam. just before & after toll booth. what s the point?
Everything want fast fast…just like kahwin and cerai
Which is why the West & next Japan has the highest divorce rates in the world.
Easy, if you PH don’t intend to make good on those promises then DON’T MAKE THOSE PROMISES!
You want time? Well you HAD time, you had one year and not a single promise was made good. Your idea that it is okay to fool the voters just to be in power is utterly stupid. You PH is making a mockery of democracy and our votes.
Nope. They alr clamped down on corruption,
How? By making corruption legal? Oh is that something we should be proud of? You people should be ashamed of yourself!
Whether its 6 months or 60 years, it is inconsequential.
PH HAD PROMISED to make it better if they got elected and now THEY ARE IN POWER, they are giving so many excuses why they CANNOT PERFORM? In the high performance world of private sector, a new joiner gets only up to 6 months of probation while a high profiled CEO gets a financial year to show that they can turn things around. If they CANNOT PERFORM, they get SACKED!
PH came promising the sky, the stars, the moon, and they are expected to deliver on those promises. Yet after 1.5 year they still CANNOT PERFORM and they still have 3.5 years to sleep on the job. Too bad they aren’t in the private sector or they most certainly had gotten SACKED!
PH fanboys:
Screw you BN our PH promises so much better if we are in government.
Insert PH finally becomes the government after many years.
Screw you BN For reminding us of our fantasy promises.
Love the internet.
current PM started the toll and now he is trying to correct his mistake/action. its too late lah already atok
I trust our clean Government now.
1) NO GST
2) Cheaper food prices (no GST)
3) Cheaper car prices (now with SST)
4) Cheaper petrol prices at RM2.08. Otherwise Rm4/l by now
5) Cheaper Broadband 800Mbps RM149.
For 30 years we have been suffering with high tolls every 3 years going higher and higher.
Now we finally see a Government that cares for the rakyat.
A big thank you to the Government of Malaysia
The only thing i support previous G is GST, SST is a failure to the max
RM6.2 billion.Better buy up Gamuda and merged with Plus. Both owned by Kwsp ..
Abu Bakar Awang on Jun 16, 2019 at 8:14 am
Now I am happy so many things are so cheap
1) No GST
2) Food prices are so much cheaper
3) Car prices are so much cheaper with SST
4) Petrol fixed at RM2.08
5) Broadband 800Mbps I pay only RM149
Wow. Pakatan are trolling the internet too much?
Interesting to know which country do you live where all these nice things you get. And just what are you doing here in a Malaysian blogsite anyway?
Y’know a real sign of hardcore fanboyism? Completely making stuff up that never happened. Things cheaper with SST? Don’t make me laugh boy.
This is an automotive site. This has nothing to do with food prices, SST prices, or your broadband prices (which I see didn’t change so how is it cheaper). Here we talk about cars and automotive things. If you want to talk about food & broadband prices, then go back to lowyat forum where you belong. You don’t belong here.
Spread out traffic? Gila….you go tell my boss that I come come to work at 11am first then only talk
You congest the road, then you pay lah the charges. That’s all
Tell boss that you come to work at 7am. maluApa
Upon successful takeover of highways, the govt can reward Rakyat travel on the highways for free during the ‘off-peak’ period between 11pm and 5am. While rates for ‘normal’ hours discounted by 30% compared to today’s fares.
Monies collected can be used for road and public transport development, education, B40 housing, health and hospital improvement. Bravo!
I cannot thank the Government of today more. Petrol also so cheap at RM2.08. If follow old system, petrol today will be RM3.50 per liter
Good to Government today cares for us so much!!!!!
Syukur!!!!!
Bila tak abolish, marah kerajaan.
Bila nak abolish, kenapa tak puji?
Apa nak jadi sesetengah marhaen ni.
Bro… apa yang anda marah2 sangat ni..? Kerajaan belum ada cakap pasal ‘ABOLISH’ tol pun… cuma cerita Kerajaan akan ambil alih sykt konsesi tol. Berita cakap lain anda faham lain…!
Dulu kerajaan BN ambil alih konsesi sykt yang kendalikan PLUS… tu sebab anda tak rasa kenaikan kadar tol selama 9 tahun lepas…! Anda marah tak tentu pasal.
This city tolls.should be abolished long time.ago, Damansara Toll also!
Kena tipu lagi haha..
Parti Kencing Rakyat,
Parti Penipu Besar Malaysia,
Deceiving Action Party,
Tidak Amanah.
1. Must improve public transportation linkages to reduce overall private car usage.
2. Reduction / abolishments should first take place in East Coast where the states and the people are poorer.
3. If cover at the peak times with normal charges, traffic will still not be reduced.
4. Car free central area must be done.
5. Close and make all CBD area only one lane and replace roads for pedestrians covered walkways, cycling and electric scooters/segways.
I suggest Government should just less tolls and not abolish it.
Too many dumb people asking for free. If you want free…
1) where is the Government going to get their money from for infrastructure and building?
2) where is the Government going to get their money from to overcome the RM1 trillion ringgit DEBT?
Hutang siapa nak bayar?
Kencing boleh, percaya jangan…
Steady ..
Yeah right. If they’d wanted to abolish tolls they could have started with the highway in their hands: PLUS.
This is the main one and the one that most felt by the rakyat if they ever have intention to abolish tolls. I’m skeptical about their intentions.
No way are they gonna abolish toll at PLUS…! Are you crazy..? Then how to maintan the highway…?
The lesser highways maybe.. coz there are less to maintain.
Toll is good to separate traffic of areas. Just imagine once without the toll, roads around hotspot areas will flood with traffic and cause major disruption whoever stays there.
Man, u already see whats coming next. Get ready fellas. Worst jammed ever
What I hope is the congestion charge should not be too low. Otherwise this will encourage more citizens to drive to work rather than taking public transport. In fact there are tens of thousand of cars are single driver without passengers driving on peak hour. Government can think off how to encourage public to utilize ride sharing to reduce cars on the road. Grab is a good ride sharing platform but still many choose to drive.
This will NEVER happened if we are with BN.. Goodjob PKR!
BN has abolished tolls on Federal Highway bub
Goodjob PKR? So the rest PAN, PPB, DAP, etc aren’t doing any work? I see….
PH Gpvt announced that it is buying over the consessions company but no news of abolishing the toll. So let’s wait for the official announcement before celebrating.
You mean BN Govt did not take over the consession company of PLUS…? But PLUS is now owned by PMB (PLUS M’sia Bhd)… with shareholders majority held by Khazanah and the rest by KWSP, Perkeso, PNB, KWAP, LTAT and TH… that is why there was no hike in its toll rates for the past 9 years…! WAKE UP LAHHH…!
Oh… didn’t previous BN govt paid the full consession of a few highways and made it toll-less…? Sg Rasau, Batu 3, Bkt Kayu Hitam, Johor Bahru EDL and Cheras. DO YOU HAVE SELECTIVE AMNESIA…?
DON’T LIE…!
6.2 billion can buy GAMUDA
yup, this is the stupid act when those don’t know how to value asset running the show..2/3 money of company’s market cap to buy a portion of the companies asset..crazy
6.2 billion from 1Mdb 55 Billion. small money.
Hahaha! Now open in court, missing money suddenly reduced down to RM42million. Somemore it was accounted for so how can it be missing? Alahai Pakatan diehards… accept reality. You have been fooled.
Haha I don’t think so. Not with this government. No they will likely buy and hock it to their cronies at a cheaper price than they had bought over, later giving some silly excuses for those losses; like them highways were overpriced, there were hidden losses, the OPEX were much higher than anticipated, government suddenly needed money, blah blah blah, more kinds of bs to justify losing taxpayer money.
So far this government… seem like no more cronies.
According to our friendly neighbourhood sotong, PH was confident they don’t need to pay a single sen to abolish highway tolls, when they got elected to gomen. Well they got elected now, so what is this uturn? If PH needed our billions of RM to fulfill their promise, then no need elect them at the first place! Any buffoon can do that job!
RIP
Gamuda Bhd head honcho is linked to the old man all the way back. Why Gamuda-owned highways? Why bother to abolish tolls that are not belonging to the gahmen, when they can start with PLUS highway that belongs to them? This is so funny, ROFL!
Aduhai…everything belong to crony of someone.
All of them are cronies of that old man.
Pls respect the elders, bro. #Adab katmana
He never respected TAR so why should he get my respect. Respect must be earned not expected.
Abolish tolls in affluent areas of KL & Selangor boleh. But abolish tolls over Penang Bridges that tens of thousand lower incomes used daily for work tak boleh? Pakatan oh Pakatan…. we seen your true colours and which segment of the rakyat you truly taking care.
Federal highway toll abolished, its Free weh. Hundreds of thousand B40 lower incomes pipu used daily for work, Syukur gahmen prihatin….
Pls improve the road conditions and enforce the law
So, if you are batman, you get to use the highway for free to stop crime
Wishful thinking. The toll grandfather said he cant afford to abolish tolls unlike his manifesto
Why must it be an offer. Government should just say this is what I’m giving you, STFU, the highways belong to government now. If they really refuse you strongarm them into giving it up. Literally highway robbery
Yes, let the goverment that over these tolls. Then sell it to EPF for RM1 with provision of 99 years operating lease. Then every one will benefit. But toll rate need to be lowered and repair work need to be maintained at high standard.
What’s the point of selling it to EPF if the tolled highway will just be making losses with the lowered toll rate yet need to continue spending money for high standards maintenance?
Bini yang ada(PLUS) tak mau jaga. Mati-mati mau kejar ngorat bini orang lain(Gamuda) apesal?
Its a good move by our new government initiatives,even better is to have 10% to 15% toll reduction during the six hours congestion period,the non congestion period reduction of 30% can change to 20% so as more people are benefited!
Its a good move by our new government,even better is to offer 10 to 15% discount during the 6 hour peak period and reduce the discount to 20% during the non peak period as a lot of working people can’t change their working schedule.More Rakyat will be benefited with this scheme.
R LAT
Gamuda Market Cap is around 9.5B, the tol worth 6.2B? Is this a joke or what?
grab Gamuda as majority share with 5B, and own Gamuda then! our accountant act as finance guy sure kabut
the highway loan no need to pay back ka?
A company that owns a building worth 10million. in which 9 million is on loan. It has a marketing cap of 12 million. if you buy up the company for 12million. you still have to pay of the 9million. Malaysians dont understand business. How to do business?
No need according to Pizi. Since govt take over can be considered as financial loss.
apa kita panggil orang takde lesen akauntan jadi akaiantan?
Nevermind. We shall wait next PRU. ANY party who abolish toll will get my vote. Better be prepared PH. No ‘U’ turn ok. We are not dumb citizens. Once bitten twice shy.
Ini gaya Tun M. Kerajaan beli harga mahal dari swasta.. Rasa2 rugi, dia jual balik ke swasta harga murah.. This is the way Tun M do business with malaysia gov..
I see what you’re doing there, LGE.
Buy over the cash cow (using tax payers monies), give small discount to toll users but not too much so as to make a profit for the Gomen.
Win-Win hor? PH voters like me kena sucker again.
I live in KL and work in Damansara, yet I don’t pay toll every morning going to work. If i wanted to use toll it would be RM7.50 one way, with no time savings. Why should 30million people pay the tax burden of removing tolls for a few million people in Klang Valley? Everything is for the KL folk. I hope Sabah and Sarawak get out of Malaysia!