PLUS working with govt on scope, toll reduction mechanism

  • Nation
  • Monday, 20 Jan 2020

PETALING JAYA: PLUS Malaysia Berhad (PLUS) is working with the government to "confirm the scope and mechanics of the toll reduction".

In a statement on Monday (Jan 20), PLUS noted the government's decision to retain the company under its present stakeholders, Khazanah Nasional Berhad/UEM Group Bhd and the Employees Provident Fund (EPF).

“Given the intended implementation date of Feb 1, 2020, we are presently engaging the government to confirm the scope and mechanics of the toll reduction,” said PLUS chairman Datuk Mohamad Nasir.

“This is because of the need to ascertain the current concession agreement status as well as address any concerns that our sukuk holders may have," he said.

He added that PLUS remains committed to delivering safe and comfortable highway travel by leveraging on innovation for the rakyat.

Last week, the government announced the decision to reduce toll rates on highways operated by PLUS by 18%, and for Khazanah and EPF to remain as shareholders of the concessionaire.

The reduced toll rates will remain fixed throughout the concession period of the highways, which will be extended by 20 years from 2038 to 2058.

In addition, all outstanding and future toll compensation will be waived, providing an estimated savings of RM42bil for the government.

The decision came after the government had received several unsolicited bids from various parties to take over PLUS.

The Prime Minister's Office said that six highways will start lowering their tolls as early as Feb 1 and there will be no more toll hikes for the next 38 years.

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PLUS , EPF , Khazanah , toll


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