What is the status of the Penang-Butterworth Underwater Tunnel after the MOU which was signed with a Chinese company on 28th April last year? It has been almost a year now.
I remember someone says can't do public transport bcoz Fed power maa. Since when state can grant toll concessions :lol:i remember someone said the travel demand between penang and other state just 1%^^, that LIAR has not appeared for quite sometimes already...^^
How to trust Sinar Harian when they even refused to sell ads to Penang govt?Lagi penduduk bantah projek bina terowong
crap
And from http://islam.ru:PLUS Malaysia is the investment vehicle owned 51 per cent by UEM Group and 49 per cent by EPF.
UEM Group is a wholly owned subsidiary of state asset manager Khazanah Nasional Berhad.
EPF and UEM had last November proposed to privatise PLUS Expressways for RM23 billion but with the condition that the toll concessions be revised.
In view of this, is PLUS still a privatised concessionaire? Or considered Government already taken over the concession?Plus Expressways is actually owned by UEM Group Berhad, which in turn is largely owned by Malaysian sovereign wealth fund (SWF), Khazanah Nasional Berhad, which is very active in the sukuk market - both domestic and cross-border. Khazanah for instance remains the only issuer to have raised funds through local currency sukuk in Singapore (S$1.5 billion) and in China (renminbi - RMB500 million).
Other members of the PLUS Expressways Group include Expressway Lingkaran Tengah Sdn Bhd (ELITE), Linkedua (Malaysia) Berhad (Linkedua), Konsortium Lebuhraya Butterworth-Kulim (KLBK) Sdn Bhd and is a substantial shareholder in PLUS BKSP Toll Limited (PLUS BKSP), Indu Navayuga Infra Projects Private Limited (INIPPL), PLUS Helicopter Services Sdn Bhd (PHS), Teras Teknologi Sdn Bhd (TERAS), Touch 'n Go Sdn Bhd (TNG), PLUS BKSP via PLUS Kalyan (Mauritius) Private Limited and Jetpur Somnath Tollways Limited (JSTL) in India and PT Lintas Marga Sedaya (LMS) in Indonesia. PLUS Expressways was listed on the main board of Bursa Malaysia in 2002 and is the largest toll expressway company in Southeast Asia and one of the largest in the world by market capitalization.
PLUS Expressways Berhad holds 94.12 percent direct and indirect interest in PLUS BKSP via PLUS Kalyan (Mauritius) Private Limited.
For an initial capital cost of RM 1,327 million, inclusive of capitalised interest of RM 142.3 million, this 30 year concession agreement allow Litrak to a profit before tax of RM 27,066 million and an after-tax profit of RM 18,865 million. To get a profit after tax of RM 18,865 million from an initial capital outlay of only RM 1,327 million is a fantastic return of investment of 1,322%. In other words by 2029, Litrak would earn more than 13 times what it put in.
Sungai Petani to Gurney Drive is about 45 km meanwhile Kulim to Gurney Drive +- 35 km.... 10 km shorter than use the 1st bridge...The "tidak bantah" stance by BN is wholly predictable as:
(i) election is over (no need 'sandiwara' anymore), and
(ii) more importantly, the project was first mooted by BN themselves (but faced objections from, among others, the then opposition...how ironic)
So, UMNO are getting what they always wanted. Opening direct northern route access from mainland to island. Which brings North Seberang Perai/Kedah nearer to the heart of Penang island...
...but without having to cross swords with those anti-tunnel-toll-enviro-conscious NGOs.
kay: