Wednesday, May 18, 2022

Toll rates on 4 highways to remain unchanged as govt approves restructuring plans

This is expected to save the government at least RM4.3 billion in toll subsidies.

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The government has agreed to the proposed restructuring of four highway concessionaires in the Klang Valley, which will see the toll rate maintained until the end of the concession period and savings in toll subsidies of at least RM4.3 billion.

The concessionaires in question are Kesas Sdn Bhd which manages the Kesas highway, Syarikat Mengurus Air Banjir dan Terowong Sdn Bhd which manages the SMART tunnel, Sistem Penyuraian Trafik KL Barat Sdn Bhd which manages the SPRINT highway and Lingkaran Trans Kota Sdn Bhd which manages the LDP.

“Through this restructuring, the toll rate will not be increased but will remain until the end of the concession period, and will help save on compensation payments from Jan 1 until then,” Prime Minister Ismail Sabri Yaakob said in a statement today.

“This is part of the government’s ongoing efforts to ensure that the Malaysian Family is not burdened, especially with the increase in toll rates as stipulated in the concession agreement,” he added.

“These savings can be used for national infrastructure development programmes and other facilities that should be prioritised for the well-being of the Malaysian Family.”

Ismail also said that the decision was made after a detailed study into all related aspects including the burden on highway users, the government’s obligations under the concession agreements, and its financial burdens.

Further details on the restructuring of the companies will be announced by Works Minister Fadillah Yusof.

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