Boustead Holdings and its parent, the Armed Forces Fund Board, own the joint operators of the Automated Enforcement System through Irat Properties Sdn Bhd.
KUALA LUMPUR: Boustead Holdings Bhd and the Transport Ministry have yet to decide on the implementation of the Automated Enforcement System (AES) as both parties are still in discussions.
Boustead deputy chairman/group managing director Tan Sri Lodin Wok Kamaruddin said the decision on the AES has not been finalised.
"It is up to the Transport Ministry to make the decision. However, I think if we can contribute to road safety and reduce the number of deaths on our roads, it will be good for the country and the people," he told reporters at the opening ceremony of the new IKEA store here on Thursday.
On Monday, Transport Minister Datuk Seri Liow Tiong Lai said the Government paid about RM60 million in contract service fees to two service providers of the AES until Aug 25, 2015.
The Government was also expected to conduct a comprehensive review of the implementation of the AES, which would be announced in early next year, he said.
Early this year, Boustead had injected RM199 million to acquire 50% stake in lrat Properties Sdn Bhd, which took over two companies that handled the AES.
Meanwhile, he said Boustead's joint-venture development project with Ikano Pte Ltd, dubbed as MyTown, was expected to be completed by end-2016.
"The construction in Jalan Cochrane has reached 50% to 60% completion and the project would help in developing this whole area," he said. - Bernama
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