Thursday, February 26, 2009

Tak boleh freeze ke?

First, they gave us the good news:
24/2 Charges for Salak Jaya toll on Sg Besi highway abolished as of 12:30pm, Works Minister also announces RM649mil extension of the highway/STAR
Two days later, they whack you with the bad news:
26/2 Toll rates for the North-South Expressway, Sprint Highway, Ampang Elevated Highway, Sg Besi Highway, and the NPE will be increased on March 1/STAR
It's not funny, I tell you. Good news involving one toll and then you're told to pay more at 5 other tolls! Apa ni, brother? We are on the verge of an economic slowdown, and I think the Works Minister should find a way to ease the people's woes. Try freezing any increase in toll charges until better times, for example, it would gel nicely with the government's Economic Stimulus Package.

As it is, the rates for the New Pantai Expressway, especially, are excessive. The short drive from Bandar Kinrara, where I live, to Bangsar is RM4.20 one way (three toll gates: RM1, RM1.60 and RM1.60). Fortunately, there is still an alternative way to get from Bandar Kinrara to Bangsar. In some cases, there are no alternative routes left and one has to pay toll whether one likes it or not.

updates:
Toll Hike = Inflation + Political Suicide

65 comments:

  1. This is typical BN government.One moment,they give you some sweets and next they shalf you with tonne of chilli.To me,PLUS is set up to enriched UMNO.After so many year,with millions of profit,PLUS still cant get enough by sucking rakyat money.
    So,dont blame la bro...cos we are the one elected 'blood suckers' to suck our blood.If you want free tolls,just bury this government in next election!!!

    ReplyDelete
  2. Anonymous3:12 pm

    Aiyoo Malacca View!

    What makes you think "the other govt" will be better.. they themselves pun dok sucking on rakyat money jugak. Tu baru 5 states...oppsss now 4!!!

    Distractor

    ReplyDelete
  3. Anonymous3:21 pm

    that's why lah..they say malaysia income tax is very low.

    my frens - it ain't low.

    Malaysians have to experiences many small leakages - toll, more toll, polis incentives, red light cameras coming, cost of doing business, cost of getting annoying gov people to "go away" if you know what i mean. IT all adds up. effectively your income tax is something like "35%".

    correct me if i am wrong. on top of that you're not really getting any good reliable service in health, education or transport.

    go on. continue with the BN dynasty. even if some of you suffer -you don;t realise it.

    ah beng.

    ReplyDelete
  4. Anonymous3:22 pm

    of course PLUS makes trillions.

    how else can they offer the kataks loose change of 10 or 20 million?

    ah mat.

    ReplyDelete
  5. Anonymous3:23 pm

    The increase in the sprint Highway toll is too much. We get charged for nothing. The highway is of no added value - the road is always jammed up - what's the use of a highway. I prefer in the old days i.e. without the Sprint Highway.

    ReplyDelete
  6. Anonymous3:23 pm

    Economic slowdown only for rakyat. As for the highway owners come rain or shine they will still get their increase in tolls.

    Many thanks to Mahathir for this.

    ReplyDelete
  7. Anonymous3:32 pm

    I believe this is part of the govt stimulus package.

    To make the rakyat spend more to stimulate the cronies' ecomomies.

    ReplyDelete
  8. Anonymous3:32 pm

    Typical Malaysian business entity...fast profit - what do i care for the people? No sense of social obligation during times like this. Typical Malaysian business entity.

    - Oman

    ReplyDelete
  9. Simple maths la.

    Spend so much money and lose two-thirds majority and 4 states.

    Cannot simply dish out expense claims so treasure trove becoming empty.

    Two by-elections and spend so much and yet lose. Furthermore, so many taps cannot open, so filling up is not that easy anymore. Remember KT by-elections? Don't need also simply send a few thousand police to "maintain the peace"! Now to house them and feed them and transport them and so on....canopy rental alone came up to RM6 million. Now, for so much you can buy up all the canopy's in the city. Anyway, that one, taxpayer money funded...but then indirectly also funding campaign I suppose la.

    Now got 3 by-elections coming up...So quickest way to get money....PLUS la!!! Sprint la! Whatever else la...

    Hey, you think funding election campaigns is cheap ah?

    ReplyDelete
  10. Yeap Bro Rocky...I was so surprised to read this in the latest news...

    Thinking of driving balik kampung this coming cuti sekolah to Melaka and then proceed to JB for my brother's bertunang...from Perlis...whoa!!

    ReplyDelete
  11. Anonymous3:47 pm

    Penyamun Tarbush!
    Serve u right malaysians..the most stupid people in the world!

    ReplyDelete
  12. Anonymous3:47 pm

    Bro Rocky,
    To announce the increase of the toll rates at this juncture of economic downturn, retrenchment,increase in the prices of essential commodities and most interestingly when the BN is facing a critical by-elections is something incomprehensible.
    Don't they (BN of course) have that foresight and anticipation of probable backlash and repercussion?
    Sad very sad indeed that they have chose to commit "kamikaze". Sayonara Pak Lah, Najib and the rest!
    Dzulman, Shah Alam.

    ReplyDelete
  13. The payment to the toll concessionaire was reported to be RM245 million for freezing the toll increase in 2008. Hey, since the government is introducing the second economic stimulus of RM70 billion, why didn't they just include this RM245 million? I think this is another of their stupid overlook like the 78 sen petrol hike back in 2008 because this is sure to cause price of essential goods to go up when lorry transporter demand more, how stupid can we get?

    ReplyDelete
  14. This is the most frustrating part of BN.

    They have all the means to ease our burden, but yet they choose to test our patient.

    They are lucky that the opposition are led by 'not so enticing leaders - Anwar, LKY, Hadi etc'

    BUT UMNO PLEASE DO NOT THINK FOR ONE MINUTE THAT OUR LOYALTY IS BLIND.

    ReplyDelete
  15. Anonymous3:55 pm

    I'm about to give my vote to BN (PRK Bukit Gantang)when balik to Cht Jering ..with this news..confirm it will go the Opposition....Sorry BN U MEMANG TAK ADE PERASAAN

    ReplyDelete
  16. Anonymous3:58 pm

    damn it.....

    ReplyDelete
  17. Anonymous4:04 pm

    Hi Rocky,

    What is there to complain? Work smarter & harder, then, this issue won't be any issue. We ought to improve ourselves so that we can earn more money & enjoy a better life.

    By you only knowing how to complain, complain & complain will NOT make things change. Why not you become more productive instead of only knowing how to blog, blog & blog stupid issues??? Blogging are for BUMPS who love to waste their life away infront of PC/Laptops.

    You're acting like a cry baby groaning & moaning over a lolli-pop which have dropped into the longkang. Grow up & be more productive, will ya???

    ReplyDelete
  18. Anonymous4:06 pm

    I think this government didn't really care about their Rakyat anymore!! I thought when this PM just about to go for good, we can hear something or fresh ideas on how to solve RAKYAT's problems...Stupid decission!

    I rest my case with this government! Next election my vote will go to opposition. Thank you!

    ReplyDelete
  19. this is a good post.....i support u this time...keep up the good work

    ReplyDelete
  20. Anonymous4:10 pm

    If the Works Minister does no do that, how to get 'extra incomes'
    This is what we call, the magical
    stimulus plan to boost the financial difficulties of BN Ministers.

    ReplyDelete
  21. The move is really 'absurd' and full of ulterior motives in these bad times.
    It proved that the present administration has no brains when considering the problems that people are facing.
    This began with the 'brainless move' by the powers that be to jack-up the price of petrol in June last year that sparked inflation natiowide.

    ReplyDelete
  22. This is certainly a hare-brained knee-jerked action by the Government.As Rocky said, any toll increase should be frozen until the country has successfully survived the threatening economic disaster that had affected so many economies in the world which are bigger and stronger.The worse is yet to come and here we have a Government "adding" to the problems facing the unemployed and the lower income groups.The so-called stimulus packages the Government intend to take will not affect the poors as much as an increase in the tolls.Please think again!If necessary and unavoidable the Government should again compensate the Highway Concessionaries at the lowest possible.The interests of the rayaat should be paramount, and not the interests of the capitalists who should be willing to take a cut in profits!

    ReplyDelete
  23. Anonymous4:21 pm

    Thanks Malaccan view, but isnt' this the same govt which steered the nation so far?
    And I saw a comment somewhere, by jed yoong, I believe, that it was the rajas who handed land to pig rearers.
    Boy, do they know how to be thankful don't they?

    ReplyDelete
  24. Malaccan view, are you sure the PR will do away with the toll collection if they rule the country?

    by the way, pepatah ada mengatakan, beri tangan kanan, tangan kiri tak tahu" namun dalam kes ini, ada pepatah baru yang lebih sesuai, "tangan kanan memberi, tangan kiri mengambil semula".

    Read mine at http://rozaimims.blogspot.com/2009/02/reduced-but-increased-not-reduced-and.html

    ReplyDelete
  25. Adalah sangat tidak bijak untuk menaikkan tol sekatrang ini, saya haap kerajaan akan mempertimbangkan semula perkara ini.

    ReplyDelete
  26. Anonymous4:42 pm

    they will tell u, the gov have to compensate the concessionaires if don increase toll...
    This kind of contract is a joke to the whole world...
    Send the minister that accepted and signed this kind of lop sided contract to HELL...

    ReplyDelete
  27. Anonymous4:44 pm

    what rubbish.

    The Sprint/ Pantai highway is such a short stretch - even paying RM1.50 is a strain. Now, it's revised to RM2.

    ReplyDelete
  28. Anonymous4:47 pm

    FROM THE STAR:
    (Works Minister)Mohd Zin said it was a big challenge having to manage the amount of traffic Kuala Lumpur has.

    “Kuala Lumpur has 3.5 million vehicles for a population of about five million people.

    Tokyo only has 1.3 million vehicles for a population of 20 million,” Mohd Zin said, concluding that more effort was needed to improve public transport.

    ---
    So...we need to hassle the Transport Minister now?

    - Traffic Jam

    ReplyDelete
  29. Anonymous4:54 pm

    Absolutely Rocky,.These toll agreements were negotiated in the dark , slimy corridors of power. The negotiation here are normally upwards!!

    PLUS is making more than RM 1 Billion a year. The traffic flow is already 18 times the initial estimates. It is a risk free one sided business. What else do they want???

    An alternative Govt should just buy back the concessions at reasonable rates. PLUS spend only RM 6 Billion to build the highway. They have already collected 3 times the amount with 30 more years to go!......Let the curse of God fall on all the corrupt people involved in these scam....Ameen

    Truth Seeker

    ReplyDelete
  30. Moo wrote:
    Economic slowdown only for rakyat. As for the highway owners come rain or shine they will still get their increase in tolls.

    Many thanks to Mahathir for this.
    ------------------------

    Yes Moo, You better thank Mahathir for giving you the highways. In the pre-NSE days, countless of Moos (the 4-legged kind and Moos like you) were killed on the long and winding trunk roads. Dr M has indeed saved many lives for introducing highways to Malaysians.

    After you've thanked him, please let us direct our complaints to the present government. Sure, the concessionaires were signed back then, but what's a government for if it can't make win-win changes, eh?

    To you, OKY, who think I should not be groaning and moaning about the toll rate increase .. Well, you should listen to your own advise and stop whining about me. Now, shoo, get out of here!

    ReplyDelete
  31. Anonymous5:04 pm

    Dato Shahril, I think it is time for you to visit the 5 toll operators for photo opportunities to show how concerned you are about the rising cost of living for the rakyat. You have already done a great job with the hypermarkets.

    I don't know how you feel when you have to go begging for the price of roti canai to come down 10 sen and your collegue simply just increased the toll by 50 sen ONE WAY!

    $$$tuan-ah-ku

    ReplyDelete
  32. Anonymous5:05 pm

    Brother,

    Let's make sure BN loses in all the four by-election!

    Tom

    ReplyDelete
  33. Anonymous5:07 pm

    I hope people continue driving.
    I cannot afford to drive, with parking charges/ toll/ car maintenance so high.

    It's getting a lot more crowded these days on public transport. People pushing and shoving their way in the bus/LRT so they can earn a living. Real sayang, I tell you.

    I come to work late sometimes.
    Does not look good.

    Remember when PM took the LRT? He had to wait three trains before he could board. Only three trains because people prob let him board first out of respect. Regular person must elbow/ knuckle/ knee their way in.

    ReplyDelete
  34. Rocky,

    please initiate another campaign similar to labu and IJN here in rockybru..

    The Rakyat have no other avenue to voice their grievances..This is so 'elementary' type PR job, ie to give us some 'good news' before whacking us with the bad!...What pure rubbish!

    manaboleh...

    ReplyDelete
  35. That's it bro Rocky. You pointed out exactly what I wanted to say. This is indeed serious, but I only wonder if anybody in the rightful seat is listening at all. Sigh.

    ReplyDelete
  36. Anonymous5:15 pm

    Vote Barisan Nasional somemore... everyone need to pay tools including UMNO members

    ReplyDelete
  37. Anonymous5:17 pm

    What did they do with all our money when they made our people pay millions of ringgit more for petrol 6 months ago. The BN government made all sorts of promises when they increased petrol price but nothing was delivered. And now they want to screw us again with toll hike.
    Celaka betul..

    rahmanputra

    ReplyDelete
  38. Anonymous5:36 pm

    Congratulations to you guys who are blindly support for BeeNd Govt!
    Well Done!
    You guys just continue vote for BN la whenever there is election/by election!
    This is the best gift for you guys!
    Well Done! Good Job! Keep it Up! Thanks to your BN God la!

    ReplyDelete
  39. I just like the way he said it ... selamba-ly. It is ok lah, accept it la .. we pay millions per year for one year, now you pay cause we don't know how to negotiate contracts.

    Apparently, government now earns millions per day from the petrol price difference. And they don't seemed to be compalaining.

    ReplyDelete
  40. Anonymous5:55 pm

    Dear all Fuckatan's moron whinner..

    This is not something finalized yet..it has not been table in Parliment & yet u people bitching like retards blaming Mahathir & the like for making such hiway??

    Alo moron..if that mamak freeze the project back then like Pak Lah, how much would the NSE hiway project cost now? U want another NS Railway stories, hah u typical retards morons?

    The main issue is how to go about to freeze that so that the govt won't bow to these toll operator demands just because a bloody concession agreement..

    that's why the majority rakyat give face to your bastards MP..we need strong opposition to say NO in Parliment whenever issue such this arise..

    And yet u fucking asshole retards bastards shit eaters busy with your political melodrama & frog cuningglingus frenzie going berserk on the street rampange on royalties..such trivial struggle..

    Please define the word 'Rakyat' again you Fuckatan Riot moron..yes RAKYAT..not BABI..not Kandang..not Telanjang..

    Do not miss the forest for a tree anymore you moron..otherwise you people will end up like your so cursed BN too in GE13..take this issue legally & wisely..know your worth u bloody MPs.

    If both BN & PR end up being afucker looser & can no longer manage this country, let Malaysia be in anarchy state..let WE the majority rakyat have some opportunity to do a real housekeeping to get rid of those minority troublemaker..too much insult & broken heart..you think we are stupid by keeping quiet?
    Well let just say, we are not like u..we wait for the right opportunity & have the last laugh..

    You want it good? let make it really good..for real! what say u?

    Bodoh..dah memang benda betul, ambil maklum la keluhan Rocky yg juga merupakan isu awam rakyat kebanyakan.. very2 pure & clear..

    Hoi,..Isu tak suka tol naik mana ada politik atau jilat jubur sapa2 pun..bukan benda baru, BN kalah teruk pun pasal tu jugak..itu pun tak faham kah? nampak sgt geng Riot ni taksub & maha bodoh , main sondol je bila ada peluang nak hentam BN, tak tengok dgn mata langsung..rakyat kiri kanan dah tak nampak dah bila jadi babi naik minyak..sondol aje pandai..

    Mereka ni..2x5, 5x2, 10x1 sama mcm MP-MP badut mereka..tarak ubat! Habiskan duit pembayar cukai je pilih ,,sama mcm menteri2 bodoh yg mereka kutuk..

    p/s: kita tungggu reaksi YB BABI & konco2 beliau di parlimen berhubung isu tol naik..'middle finger' kalo cakap tak serupa bikin.

    muhahahhaha :D

    -anti hindraf & ultra chingkies-

    ReplyDelete
  41. Anonymous5:59 pm

    Bandar Kinrara memang sucks

    ReplyDelete
  42. Anonymous6:10 pm

    Mana boleh freeze. Cukai pun sudah kurang untuk tahun ini.

    Tidak naik harga,mana ada stimulus package untuk rakyat.Tak kan kamu mahu kami keluarkan duit sendiri.

    Sabar lah,baru naik beberapa sen sahaja.

    Kalau tidak puas jangan undi BN lah.

    Apa boleh di buat lagi ,50 tahun di tipu oleh Kerajaan lagi undi dia. Padan muka lah!!!!

    ReplyDelete
  43. Anonymous6:17 pm

    Inilah dia kerajaan Najib Altatunya!

    Rasakan!

    ReplyDelete
  44. Anonymous6:51 pm

    Next time we should be a bit of wary when good news comes up on this toll's thing.

    It might be a cover for a Bad News (BN).

    Economic slowdown, the toll operators still makes money.

    JB

    ReplyDelete
  45. Anonymous7:15 pm

    selamat mengundi Bangkai Nasional

    ReplyDelete
  46. Anonymous7:51 pm

    toll yang paling mahal adalah kesas!!! kena bayar RM4.40 untuk perjalanan sejengkal!!!! kaya le ....

    zamri

    ReplyDelete
  47. Anonymous11:07 pm

    Dear Rocky,
    Menteri berkenaan cakap macam orang gila lah.Kejap free kejap "up" tempat lain pula. Macam mana kabinet Pak Lah ni tak de PM ke ?

    Org Felda

    ReplyDelete
  48. Anonymous11:25 pm

    Dear Fellow contryman;

    I've got good news & bad news for you. First the bad news which we already know that the toll has increase.

    And here comes the good news Datok Seri Samy Veloo is no longer our work minister ;-P

    Cheers!

    ReplyDelete
  49. Anonymous12:34 am

    -Why the increase when petrol prices, the key driver of inflation, are down?

    -If all they can do is pass the costs, why not become a government department again?

    -What are the facts? Is the volume really higher than originally planned?

    -Isn't the government capable of a intelligent and coherent response on anything?

    -Praxis

    ReplyDelete
  50. Anonymous12:39 am

    -Are the public transportation provisons any better?

    Praxis

    ReplyDelete
  51. Kadar tol dinaikan…. Gempppak je kot…Semalam kerajaan melalui Menteri Kerja Raya mengumumkan akan berlaku kenaikan kadar tol bermula 1 Mac.
    Hari ini ketua kepada menteri yang membuat pengumuan itu, Perdana Menteri yang bakal pencen dipetik berkata akan kaji semula kanaikan tol tersebut.
    Persoalanya…//pemantaubebas.blogspot.com/

    ReplyDelete
  52. Anonymous1:23 am

    Well Rock, thats yer' BN govt for ya'...

    ReplyDelete
  53. Anonymous2:16 am

    I support the call for Rocky's Bru to initiate a campaign against the toll increase as in the Labu and IJN issues.

    To provide more input, please consider DAP advisor Teh Chi-Chang's proposal for the govt to take over the NSE and perhaps enable it to reduce or eliminate toll on the NSE by 2015.

    I am just pissed that people like the Works Minister or Finance Minister do not think out of the box to create solutions for the benefit of the rakyat.

    Tun Dr M had the vision to push for the NSE. For that, he should be commended.

    How much it cost - that is debateable.

    ReplyDelete
  54. Why is everyone missing the point and claim that the rakyat are against highways, when what everyone doesn't want to see are one-sided agreeemnts like those we see in the IPP business and highway concessionaries? Even now these agreements are secret or a only partially declassified. There are confidentiality issues with the water privatisation and IWK deals before as well. I have no doubt they will be one-sided and merugikan rakyat as well!

    When everyone one of them invariably turns out the same way, who now to blame?

    ReplyDelete
  55. Anonymous8:17 am

    Toll increase plus speed traps plus fuel costs plus car maintenence equals reason for price hikes, begining with your cuppa teh tarik.

    A GOOD MAN DOES NOTHING.

    ReplyDelete
  56. Anonymous9:18 am

    This is one thing that Dr Mahathir dare not comment on, when he comments on everything else.

    How about it, Dr M? Care to justify all the toll road privatisations done during your administration?

    ReplyDelete
  57. Teringat masa kat kampung dulu, bila orang nak sembelih ayam.

    Malamnya tu, dia orang bagi ayam tu makan kenyang-kenyang. Esok pagi-pagi, ayam tu pun di sembelih untuk buat gulai.

    Kiranya, sebelum ayam di sembelih, diberi ayam tu makan sampai kenyang. Jadi senanglah ayam tu nak ditangkap esok pagi-pagi untuk disembelih, sebab ayam tu tidur lena kerana dah kenyang.

    Macam ni juga lah cerita tol lebuhraya ni. Tersenyum lebar muka Datuk Zin kat TV...

    ReplyDelete
  58. Anonymous9:45 am

    Oh my goodness. Please take a look at yourselves. You people are saying be thankful for the gov for taking us this far, thank this person for making this highway possible. It is their job, for goodness sake. They did their job but not in a good manner I should say and now the rakyat are paying high prices in order to fund these corporation's guaranteed profits.

    Only in Malaysia you will find companies with guaranteed profit. If they are not making money, oh well, we'll just increase the tarifs that the rakyat pay so that we can get back to profit.

    - The Offspring

    ReplyDelete
  59. Anonymous10:08 am

    AKLEH (Ampang-Kuala Lumpur Express Highway) should disallow motorcyclist to use the elevated highway since the petrol price have decreased, and furthermore the design is not for motorcyclist anyway...it's very dangerous ..both for motorists and motorcyclists.

    SamyZin

    ReplyDelete
  60. Anonymous11:51 am

    Either way we are the loser in this deal.
    The past Govt., which is also part of the current govt., signed the Con-tract with both eyes opened. The knew what the were doing and the objective was to milk the people Legally. The current Govt., which is also part of the past govt., can not change the Con-tract without huge con-pensation to the Con-cessinaires. So, delaying the Hike does not save us any money. Either way we lose.

    How this drama will play out will be that the Govt. will see themselves as the savoir by delaying the hike we will have to pay at the Toll Booth and in fine prints at the bottom will be the amount of con-pensation we have to pay to the Con-cessinaires.

    The only way out will be to buy back the Highways and this will be based on the ‘Future Value’ of the highways not how much was paid to construct the highways…. And the Future looks very good for the Con-cessinaires.

    ReplyDelete
  61. Anonymous12:28 pm

    rocky,

    PM Badawi just said that it is not right to raise the toll rates.

    Haiyaa. very fishy all this.

    i think it is a sandiwara -- to make ak Lah look good.

    how can zin badak announce. like it is all official, and then, people all so angry. and then...viola! our dear outgoing PM comes out TO SAY THAT TAK BAIK NAK NAIKKAN TOL!

    macam ada script.

    apa lah Zin....takkan se bodoh nak naikkan tol tanpa ampu hijau kabinet?

    kalau tidak, memang lah ini skrip nak tolong Pak Lah look good.

    Poddah!

    ReplyDelete
  62. Anonymous1:52 pm

    OKY ...

    Please pull your head out of your arse and smell some fresh air!

    You sound exactly as what you have been inhaling - shyt. Some fresh oxygen will be good for you and help set your brain straight. Also, by getting your head out of that hole will also clean out the murk that's obliterating your vision.

    Why are morons still walking on this earth? Shouldn't they be extinct by now?

    ReplyDelete
  63. Brader Rocky,

    I too agree with KEVIN who insisted that you "..initiate another campaign similar to labu and IJN here in rockybru.."

    Brader, this is one war worth fighting for.

    DS Najib, if you're reading this, please DO SOMETHING about this. This country is in dire need of a leader that cares about the welfare of the people.

    If the BN government keeps on making decisions that are not 'people-friendly', soon the people WILL BE forced to RESPOND. They have no choice.

    They got to eat...

    Corporate giants such as PLUS CAN NOT determine the future fate of the BN coalition in Malaysia's political arena, but frustrated Malaysians armed with a pencil in ballot boxes CAN.

    ReplyDelete
  64. Anonymous11:13 pm

    A fellow Malaysian suggested this :

    1) Impose no further increase in North-South Highway toll rates.
    For example, a return KL-Penang journey will remain at RM86.60 today instead of RM115.30 in 2015 and RM168.80 by 2030.

    2) Create RM14 billion savings for Malaysians from 2009-2015
    This will be the amount saved either (i) by Malaysians using the highway because of no further toll rate increases or (ii) in terms of compensation which would have to be paid by the Government to PLUS Expressways.

    3) Continue to collect toll only until 2015

    4) Incur no additional cost for the Malaysian Government or Malaysian tax-payers

    Background information:

    1) PLUS is listed on Bursa Malaysia at a price of RM2.88 per share and a market capitalisation of RM14.4 billion (24th February).

    2) The Government of Malaysia, via Khazanah owns 65% of PLUS.

    3) PLUS has outstanding net debt amounting to RM8.5 billion.

    The Government can take the following actions:

    1. The Government should make a General Offer (GO) to acquire all minority shareholders of PLUS with a generous 15% premium at RM3.30 per share, costing RM5.25 billion thus ensuring that minority shareholders are protected.

    2. The cost of acquisition, added to the RM8.5 billion net debt of PLUS will amount to RM13.75 billion.

    3. This cost will be funded by issuing Malaysian Government Securities (MGS) at 3% interest (or less), costing RM413 million per annum. Total repayment will amount to RM16.2 billion over 6 years.

    4. At the same time, PLUS should generate at least RM20b in net positive cashflow the 6 years to 2015 without further toll rate hikes and assuming a conservative 3% pa traffic growth.

    5. Therefore by 2015, the government can completely repay the MGS and still have RM3.8 billion excess which could be used to build a better public transportation system throughout the country.

    Not only will the execution of the above proposal bring joy to all Malaysians with a toll-free North South Expressway, the exercise will fit perfectly with the upcoming “mini-Budget” by the Finance Minister:

    a)RM14 billion saved by Malaysian consumers will reduce the cost of living for the average Malaysian in times of economic difficulties we face today.

    b)RM14 billion saved will also redirect expenditure to other more productive sectors of our economy by increasing domestic consumer demand.

    c)The reduced toll rates and its subsequent abolition will substantially reduce the cost of doing business in Malaysia, increase logistical efficiencies and ultimately make Malaysian companies more globally competitive.

    Best of all, the plan will stimulate demand and make available substantial funds for public infrastructure development without the Government having to increase the precarious budget deficit further.

    ReplyDelete
  65. Anonymous9:02 am

    Dear Rocky, semua nie 'wayang kulit' la.......so obvious that the Minister wants to shock everyone and announced 'raise'! Never been so efficient before it was almost immediately announced posponed!But the government (the tax payer's money) has to fork out 1/2 billion!
    Such a 'magic act' is so commonly practiced in the corporate world la!

    Cant we all see? from the day the contract was negotiated to the ownership of Plus? It is all going in the loop / mill.......

    Business & Politics, the Malaysian way! Close economy??

    Kunta Kinte

    ReplyDelete