PLUS Malaysia Berhad, while earlier confirming that the toll rates for all their highways will remain unchanged, have announced that four out of five of its highway concessions will undergo a pricing revision in 2016, according to a report from The Star.
The recent toll hike (up between 20 sen to RM3.00) affected about 18 highways in the Klang Valley, but it seems that the worst has yet to come. Under the original concessionaire agreement, PLUS Malaysia Bhd’s concession period is to expire in 2018, though this has been extended to 2038 thanks to several Government-sanctioned deferment in toll hikes. The public limited company has five highway concessions that operate the routes below:
- North-South Expressway (NSE)
- New Klang Valley Expressway (NKVE)
- Federal Highway Route 2 (FHR2)
- Seremban Port-Dickson Highway
- North-South Expressway Central Link (NSECL)
- Malaysia-Singapura Second Link (MSSL)
- Butterworth-Kulim Expressway (BKE)
- Penang Bridge
The report said only the Penang Bridge will be spared as per the concessionaire agreement, whereas the toll hike on four other highway concessions will ultimately be determined by the Government. The NSE (longest highway in western Peninsular Malaysia) makes up the largest chunk of PLUS’ revenue – about 80 percent to be precise. According to Malaysian Rating Corp Bhd’s (MARC) data, PLUS recorded RM2.46bil in toll revenue for the first nine months of the year ending Dec 31, 2014, against full-year revenue projection of RM3.32bil.
PLUS operated highways have remained unchanged since 2005.
Source: The Star Malaysia