Toll rate cut could see PLUS losing RM500m

Key highway: The NSE remains PLUS’ key highway in terms of revenue contribution, generating around two-thirds of total toll revenue of RM2.9bil for the nine months of 2019.

KUALA LUMPUR: The toll rate cut for private vehicles by 18% with effect from Feb 1 could see Projek Lebuhraya Usahasama Bhd’s (PLUS) annual revenue fall by RM500mil, according to Malaysian Rating Corporation (MARC).

The rating agency said in a statement yesterday that its assessment indicates no pressure on PLUS’ debt-servicing ability in the immediate term (assuming all else remains equal).