MRCB could reap RM4b from CIQ toll hike

KUALA LUMPUR: An opposition MP said the Malaysian Resources Corporation Berhad (MRCB) could earn up to RM4.3 billion from the toll hike at the Customs, Immigration and Quarantine (CIQ) Complex by the end of its 34-year concession period.
Teo Nie Ching (DAP-Kulai) said she had calculated that MRCB had collected about RM10.7 million in August, based on a written reply from the Works Ministry on Nov 4 in Parliament, which stated that 729,657 outbound vehicles and 721,384 inbound vehicles were recorded to have made the journey between Johor Baru and Singapore.
"From the amount, it looks like MRCB can easily collect RM4.3 billion at the end of the concession period, " she said, adding that the amount does not include the traffic volume and possible toll hike.
Teo added that according to the MRCB 2011 annual report, the total investment cost of the Eastern Dispersal Link highway (EDL) was at RM1.2 billion.
"Even though MRCB is tasked to provide the maintenance for the facilities within the CIQ complex, the profit that they would make from the toll collection is still exorbitant and astronomical," she told reporters this at the Parliament lobby today.
Teo added that the government should handle the CIQ toll hike with complete transparency as it has severely burdened the daily lives of Johor residents.
"The government should immediately declassify the concession agreement with MRCB so that Malaysians will know if our government has again abused it's power to enrich its cronies," she claimed.