Yoursay: Questions raised over takeover of toll concessions


28 Jun 2019, 12:29 pagi

Updated a year ago


YOURSAY | ‘Harapan should be transparent and explain in detail of how they reach the figure of RM6.2b.’

Why is gov't acquiring highways with soon-to-expire concessions, asks senator

Caraba: Senator Khairul Azwan Harun, you talk nonsense. Finance Minister Lim Guan Eng is a qualified accountant. He knows the concession period left to run and will have done the discounted cash flow and worked out a fair price.

If Umno were to do this deal, there will be shares for cronies and warlords, and we the people will have to pay them. Thank God, we kicked you out.

Anonymous 770241447347646: Funny when they are in power, you do not hear a squeak from the Umno politicians about the billions paid to the toll companies each time they cannot increase the prices.

Anyway, it is a good squeak. Pakatan Harapan should be transparent and explain in detail of how they reach the figure of RM6.2 billion for the takeover of the four highways - Damansara-Puchong Highway (LDP), Sistem Penyuraian Trafik KL Barat (Sprint), Shah Alam Expressway (Kesas) and the Stormwater Management and Road Tunnel (Smart).

The details should include the cost of building the highways. The interest paid and cost of maintenance. The amount of monies collected over the years, including the compensation paid by the government to them.

And the years left for the agreements to expire and why are they still paid a handsome sum (according to the Umno spokesperson).

The people should also be told about further collections. Will they be reduced or completely erased?

This will help to show that Harapan is transparent about their activities, not like during the time of Umno's reign, where crony companies were milking the public to the maximum.

Dont Just Talk: Khairul should read the article by Malaysiakini columnist P Gunasegeran on the toll acquisition by the federal government.

The point raised by Khairul was explained in detail by Gunasegeran and the toll acquisition is a win-win solution to both parties.

Mushiro: It is a good question by the senator which has to be explained by Lim to the general public. Such questions should be encouraged.

The same happened to the expiring IPPs (independent power producers) during Najib Abdul Razak’s time. The expiring IPPs were bought by the Najib government at inflated prices. Will the MACC investigate this?

Vgeorgemy: Indeed, Khairul should also have raised such questions during BN regime when it bought over soon-to-expire power generation assets from private parties at a hefty sum by 1MDB.

BN, which has the majority in the Senate, will able to exert pressure on the finance minister to reveal the terms and conditions of the takeover of highways.

FellowMalaysian: If what is claimed by the Umno MP is true, then the Finance Ministry has a lot of explanation to do.

Kesas Highway was built at a cost of RM1 billion in early 1990s. With only four years before its concession ends, it is quite perplexing to be told that SAE (Shah Alam Expressway) will need to be acquired for RM1.38 billion.

The value and worth of SAE must be calculated based on a remaining lifespan of four years.

FairMind: Do you even know about business valuation? Soon-to-be-expired leases or concessions are reflected in their valuation.

One can buy over a company anytime as long as the valuation is fair and justified. In this case, it is for the benefit of the rakyat so why not do it if the valuation reflects this?

Taza 33: What happens to the cash subsidy that was provided by the government during the construction of these highways?

Be careful also of any unpaid debt as the cash flows may have been charged to the lenders – a case in point is the Maju Highway. It has both the features, that is, subsidy as well as unpaid debt through refinancing of its cash flow.

Anonymous_aa47cdd4: Transparency is the key issue. The Finance Ministry should provide details on the takeover and why and how the amounts are arrived.

Harapan was voted into power and they must lead by example. Previous BN government was a big shame and I hope Harapan don't ever follow in their footsteps.

Saya Anak Malaysia.1547637685606: The answer - for two simple reasons: over four years, how much would an average family pay for each of these tolls? Do the maths and it is cheaper to buy them out.

The more flippant answer is this - because the previous BN government didn’t do anything about it for the last 20-odd years these tolls have been in operation.

Only in Malaysia we pay road tax, high car prices and still pay road tolls which last for 25 years and above.

Patathewoonie: Whatever it is, do not abolish tolls; lowering the rates by between 30 and 40 percent will do. The rakyat would be happy. Roads need maintenance and upgrading budget.

RKR: One of the promises of Harapan before GE14 is that they will abolish all tolls. When this was not done after GE14, it was Umno, particularly Najib, who made so much noise in the by-elections and capitalised on this issue to their advantage.

Now, the Harapan government is going to do just what they had promised, and lo and behold, Umno is accusing Harapan of ulterior motive in trying to abolish tolls. I hope the rakyat can see how dirty Umno can get.

Constitutional Supremacy: Yes, Khairul, do not act naive. People like you have been shouting for Harapan to fulfil promises.

When now they want to do it, you pull in the opposite direction. So, whatever Harapan does is not acceptable?

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