The Ministry of Works (KKR) has denied allegations that highway users will have to pay tolls indefinitely due to the restructuring of 4 companies with an extension of the concession period.
In a statement issued on April 9, KKR stated that concessionaires cannot arbitrarily add new debt as stipulated in the new agreement involving the restructuring of the 4 concessionaires.
The statement also explained that the government will ensure consumers are not burdened and if the government's restructuring in saving compensation is not successful, then, there will be an increase in toll rates which will be the cause of a chain reaction to the rising cost of goods.
Generally, on April 4, Prime Minister Datuk Seri Ismail Sabri Yaakob announced the government's decision to maintain toll rates on the following 4 highways;
Kesas Sdn Bhd which manages the Shah Alam Expressway (KESAS).
Syarikat Mengurus Air Banjir dan Terowong Sdn Bhd (Stormwater Management and Road Tunnel or SMART).
Western KL Traffic Dispersal System Sdn Bhd (Western KL Traffic Dispersal System Sdn Bhd or SPRINT).
Lingkaran Trans Kota Sdn Bhd (Damansara-Puchong Highway or LDP).
In addition, the statement also denied allegations that the government paid or provided provisions in the form of fixed costs for the construction or maintenance of highways.
But instead, they use funds raised by concessionaires from loans or sukuk issuances that must be paid through toll collection while operating and maintenance costs are fully borne from toll collection.
Meanwhile, KKR also clarified that the extension of the concession period was only given as an indication to ensure sukuk holders that their investments would be repaid.
KKR also clarified allegations about Amanat Lebuhraya Rakyat Bhd (ALR), which took over highway assets worth RM5 billion with a capital of only RM5,000.
He explained that ALR acts as the guardian of 4 more roads only, so it allows him to act as a 'guardian' with a capital of only RM5,000.
Apart from adding that since the original shareholders are gone and ALR is not a profit -based body, so no more dividend payments are required further allowing the toll rate to be maintained at the existing rate.
