PETALING JAYA: Khazanah Nasional Bhd said it welcomes the government’s decision regarding PLUS, which will see an 18% reduction on toll rates, and Khazanah and the Employees Provident Fund (EPF) remaining as shareholders.
In a statement this evening, Khazanah said it will work closely with the government and PLUS on the toll restructuring initiative announced, to ensure that it is implemented effectively for the timely benefit of highway users, while maintaining the interests and rights of all key stakeholders, including holders of PLUS’ debt.
“The decision to reduce the toll rates for PLUS highway users while providing considerable savings for the Government is a significant move. In addition, entrusting PLUS to its existing shareholders will ensure that the high standards of safety, comfort and convenience currently enjoyed by users will be maintained.
“We now move forward to discuss the implementation of the initiative with all other stakeholders,” Khazanah managing director Datuk Shahril Ridza Ridzuan (pix) said.
The 18% toll rate reduction will be applicable on highways operated by PLUS, namely the NorthSouth Expressway (NSE), North Klang Valley Expressway (NKVE), North–South Expressway Central Link (ELITE), Seremban-Port Dickson Highway, East Coast Expressway Phase 2 (LPT2), Second Link Expressway (LINKEDUA), Butterworth-Kulim Expressway and the Penang Bridge.
The reduced toll rates will remain fixed throughout the concession period of the highways, which will be extended by 20 years from 2038 to 2058.
In addition, all outstanding and future toll compensation will be waived, providing an estimated savings of RM42 billion for the government.
“Khazanah and PLUS will announce further details on the toll restructuring initiative after further consultation with the government and other key stakeholders,” Khazanah concluded in its statement.
