PUTRAJAYA: The Government received financial gain from its revenue sharing agreement only with Mekar Idaman Sdn Bhd, which operates the Penang Bridge, amounting to some RM30mil a year, Malaysian Highway Authority chairman (MHA) Datuk Syed Jamal Syed Jaafar said.
He said there has not been any revenue from either PLUS, which operates the North-South Expressway, or Lingkaran Trans Kota Sdn Bhd (Litrak), the concessionaire for Lebuhraya Damansara-Puchong.
“Under the agreements with both Litrak and PLUS, the revenue sharing only starts when they have reached a certain threshold for traffic volume or toll collection.
“However, the thresholds for both Litrak and PLUS are very high. If there is any revenue, it will be
channelled into the country’s Consolidated Fund and the Treasury will keep a record of it,” he told reporters after launching the Back to School financial assistance programme for staff members of both MHA and concessionaire companies here yesterday.
Under the agreement with Litrak, all extra revenue earned if the actual traffic is above the projected volume for that year will be shared equally with the Government. It gave its projected traffic volume at 239.7 million vehicles this year.
PLUS has agreed to let the Government have 25% of its revenue between this year and 2020 if its toll collection hits the yearly projected revenue, which in 2004 was put at RM1.81bil.
On criticisms that the agreements signed with the various toll concessionaires were lopsided towards the latter, Syed Jamal said the terms of the deals were negotiated and agreed upon by the Economic Planning Unit.
“Once the deal has been inked with the toll company, MHA will take over as the executor of the documents and the highways. So far, we have received some 44 comments from members of the public and non-governmental groups who had the opportunity to look at the declassified agreements.
“We welcome this feedback and we are in the midst of compiling the comments to be forwarded to the (Works) Minister (Datuk Mohd Zin Mohamed). He will give his reply later,” he said.
To a suggestion by Petaling Jaya MP Tony Pua that the Government buy over the LDP as a way to reduce toll and save money, Syed Jamal said this was merely “an opinion.”
He said both the authority and all 24 toll concessionaires had also agreed to implement a corporate social responsibility programme as a way of pouring their profits back into the community.