Posted by BN_better > 2019-02-24 16:13 | Report Abuse

Consult the rakyat first, says Wee on proposed abolishment of highway tolls
Read more at https://www.thestar.com.my/news/nation/2019/02/24/consult-the-rakyat-first-says-wee-on-proposed-abolishment-of-highway-tolls/#Trq3d1KKybjse6T2.99

Posted by hollandking > 2019-02-24 16:18 | Report Abuse

it looked more like something that is hastily done for by election.

Posted by Shooter888 > 2019-02-24 16:22 | Report Abuse

The first toll road concession company to be listed in December 1996, LITRAK currently derives its income from two highway concessions in the Klang Valley - 100% stake in Lebuhraya Damansara Puchong (LDP) and 50% stake in the SPRINT Highway. LDP is significantly more important between the two, contributing RM368m (RM363m/FY17 & RM288m/FY16) of operating profit to the group in FY18 as compared to the share of loss of SPRINT at RM4.3 (RM5.4m/FY17 & RM12.0m/FY16). In terms of revenue mainly from tolling on the highways, the group collected RM523.9m (RM534.2m/FY17) from the LDP as compared to RM218.6m (RM231.6m/FY17) from the SPRINT Highway in FY18. The significance of the LDP was also reflected by the lopsided asset structure with highway development expenditure (HDE) making up 88% of the group's long term assets as at 31.03.18. Due to its size, a change in the accounting policy pertaining to the amortisation of the HDE from revenue-based to traffic volume-based raised the amortisation charges by RM30.6m y-o-y (or +45.0%) in FY17. The maiden impact of the surge in the amortisation charge on the earnings, however, was offset by RM171m of compensation by the government which single-handedly raised LITRAK's revenue in a year traffic volume dipped in FY17. The compensation which will be non-recurring arose from the government's decision to defer the third and final toll rate hike on the LDP due on 01.01.16 (or 4QFY16) as outlined in the Concession Agreement. Moving forward, the Government's non-approval of the final toll rate hike for the LDP would mean the future revenue growth would be solely dependent on the growth in tollable traffic on the highway.



LITRAK is almost all about the LDP (40 km) which is the most strategically located urban expressway in the country. The 34-year concession for LDP (expiring on 14.08.30) is held via its wholly-owned subsidiary, Lingkaran Trans Kota. Toll collection on the LDP commenced on 25.01.99 (or 4QFY99) and profits from the tolling business has shaped LITRAK's earnings since listing. The LDP begins from the north of Klang Valley near Sri Damansara, passing through the established and densely populated suburbs of Petaling Jaya and new developments in Puchong before ending at the outer rim of Putra Jaya. The highway also forms the western link of KL's Middle Ring Road II. Toll collection is made from 4 toll plazas - Penchala toll plaza, Petaling Jaya toll plaza, Puchong Barat toll plaza and Puchong Selatan toll plaza. The LDP registered an average weekday tollable traffic of 468,000 in FY18 (478,000/FY17 & 493,000/FY16), down by 2.1% y-o-y (-3.0%/FY17 & -1.8%/FY16). Apart from the continung impact of the steep hike in toll rates on 15.10.15 (deferred from the original date of 01.01.11), the management attributed the extended fall in traffic volume to the migration of road users from highways to public transportation following the completion of the Kelana Jaya and Ampang LRT extension lines in June 2016 (or end-1QFY17) and the opening of Phase 1 of KVMRT 1 (Sungai Buloh - Semantan) in December 2016 (or end 3QFY17).



Unlike the LDP, the SPRINT Highway was money-losing for many years since tolling commenced on 09.09.01 (or 2QFY02) and only turned profitable in FY15. The Highway consists of the Duta-Kerinchi Link (11.8 km - 36-year concession up to 2034), Damansara-Semantan Link (9.4 km - 36-year concession up to 2034) and Kg Sg Penchala-Mont Kiara Link (c.5.0 km - 33-year concession up to 2031) with toll being collected from 3 toll plazas - Damansara toll plaza, Pantai toll plaza and Mont Kiara toll plaza. The average weekday tollable traffic on the Sprint highway which dipped marginally y-o-y to 246,900 in FY16 fell at an accelerated pace of 8.5% y-o-y to 226,000 in FY17. The figure dipped further to 221,000 in FY18 (-2.2% y-o-y). The profitable path was a short two years and SPRINT was back in the red in FY17. The share of loss from SPRINT stood at respectively RM5.4m in FY17 and RM4.3m in FY18. The investment in SPRINT only made up 7.7% (RM174.2m) of the total assets as at the end of FY18. Unlike the LDP, there is still one final scheduled toll increase - Penchala Link (in 2019), Damansara Link (in 2022) and Kerinchi Link (in 2022). However, the potential impact is not expected to be significant given its relative

Posted by SaveMsiaFromPHGov > 2019-02-24 17:54 | Report Abuse

Ha ha ha. If 1mdb not the superbadaess one, then how come idiot ph leaders harping all day all night about it.

Semenyih, idiot ph fanboys. Semenyih is going to be, for ph, what Waterloo had been for Napoleon.

Get it?

Posted by SaveMsiaFromPHGov > 2019-02-24 17:59 | Report Abuse

It IS an election gimmick, that toll abolition thing. Abolishing toll on those four highways is just going to bring much more traffic, hence much more congestion. Might gain revenue from the new congestion hour toll, but congestion is exactly what Semenyih rakyat do not want in their area.

Posted by napman > 2019-02-24 18:17 | Report Abuse

The negotiation is initiated by concessionaire, it will be based on fair terms as the major shareholder of Gamuda are local funds. It is not in the interest of the Gov to execute a loopsided take over as it will hurt the market confident.

http://www.theedgemarkets.com/article/decision-tolls-after-submission-study-—-works-minister

Posted by hollandking > 2019-02-24 19:36 | Report Abuse

if BN win semenyih, think najib will be riding on this to make a political comeback. Next he will grab the UMNO president post. WOW, is just incredible this story still got next chapter.

Posted by hollandking > 2019-02-24 19:38 | Report Abuse

Dont forget, napoleon in his first exiled , came back and seize power, so dont be suprised if he seized the umno president post. What a story. WOW

Posted by KLCI Going Heaven > 2019-02-24 19:40 | Report Abuse

holland d malaysia like this, epf next year lagi bungkus

Posted by DreamCommander > 2019-02-24 20:58 | Report Abuse

It is ph gov thats taking malaysia down to netherland. bn made a helluva lot of effort to grow IHH & build it up into biggest private health care provider in Asia & second biggest in the world. Then madir simply comes along to sell it off to his japanese crony. Wonder how 'consultacy fees' he got paid for that.

Who the heck does he think he is, man. IHH belongs to Malaysia & the rakyat of Malaysia. Does not belong to him or his family, to do as he damn well pleases.

Posted by DreamCommander > 2019-02-24 21:02 | Report Abuse

https://www.freemalaysiatoday.com/category/nation/2019/02/24/bumi-contractors-in-dire-straits-want-mega-projects/

Posted by lizi > 2019-02-24 21:28 | Report Abuse

to me it is negative in the long run...u don't want to lose valuable asset like toll....

Posted by ChickyWaWa > 2019-02-24 21:43 | Report Abuse

Limit down form RM3.04 is how much? RM2.13 right? Tomorrow waiting there.

Posted by napman > 2019-02-24 22:14 | Report Abuse

Lizi, the profitable concessionaires left 10-15 years. Is better or at least not a bad idea to plan and realise the value. Chancea PH allow extension of concessionaire is remote.

Posted by Wyler > 2019-02-24 22:29 | Report Abuse

If you look at the financial report, expressway concession contributed 40 % to the overall profit of Gamuda, and the profit margin of concession segment is approx 50%, which is relatively higher than the infra and property segments. Although Gamuda might receive a huge of cash, which segment can Gamuda invest in? Even if Gamuda plans to invest those amount received from the gov in infra and property, Gamuda is actually bearing higher risk.

A simple question: Doing maintenance for steady and high income or make more investment in high risk, unconfirmed returns segments. Which one is better?

Conclusion: Selling expressway to gov is no good for Gamuda in the long run

Posted by napman > 2019-02-24 22:48 | Report Abuse

Just like Water, it is likely that the maintenance will still go back to Gamuda or Litrak to minimise social impact of laying off worker.

The toll concessionaire is a sunset industry, the topic of reducing toll rate (alternative to take over) has been discussed over and over.

It is wise to realise the current asset value and look for next growth engine. Despite all the complaints, Malaysia still provide many renew business opportunities that are viable for next 30-40 years, as well as many ASEAN, East Asia and Southern region.

Posted by napman > 2019-02-24 22:51 | Report Abuse

In short term, there will be negativity due to lack of clarity, medium term will improve with clarity, definitely good for long term

Posted by paperplane > 2019-02-25 00:49 | Report Abuse

Free toll midnight.hello, bagi ghost and mat remit free is it

Posted by paperplane > 2019-02-25 00:49 | Report Abuse

Mat.rempit

Posted by macro8 > 2019-02-25 01:14 | Report Abuse

Gamuda is not stupid, they won't settle for the short end of the stick. Also, with cash received from they can pay off debts and increase its book value and or declare special dividends. They can also try to get the gov to speed up pmtp approval in the talks

Posted by DreamCommander > 2019-02-25 02:33 | Report Abuse

https://www.thestar.com.my/news/nation/2019/02/24/pkr-we-stand-by-pm-and-agreement-that-anwar-to-take-over-after-two-years/

Ha ha ha. This lovey dovey 'I love you. you love me' political wayang farce is becoming weirder & weirder by the day. It's such an open secret already, that anhua can't wait to topple madir, while OTOH madir can't wait to dump anhua. We all wait with bated breath, for the next chapter of the story.

Posted by change1 > 2019-02-25 03:09 | Report Abuse

Pas wants govt to review toll abolition plan
https://www.nst.com.my/news/nation/2019/02/463365/pas-wants-govt-review-toll-abolition-plan

Posted by i3param74 > 2019-02-25 07:16 | Report Abuse

the deal is, I take away your concession, but I compensate you other other mega project.

Posted by paperplane > 2019-02-25 07:33 | Report Abuse

Where got mega project.... All stall. Saying no mooolaj

Posted by shareinvestor88 > 2019-02-25 08:27 | Report Abuse

SELL TP 1.00

Posted by pineapple > 2019-02-25 08:32 | Report Abuse

Get ready . Sitting on cash may be good news.

Posted by napman > 2019-02-25 08:44 | Report Abuse

Come to think of it, Gov actually got money to buy toll
LRT3 save 16.63b
MRT2 save 8.82b
ECRL save 40b (to be confirmed)
= 65.45b

Saving from Transparent Procurement
Saving from Reduce Wastage (bottom up budget)
Optimize resources by reducing number of ministries and various agencies

Gov certainly got money

Posted by besos > 2019-02-25 08:58 | Report Abuse

Gamuda Cove advertise everywhere. Only hope for Gamuda after highway toll takeover?

Posted by dompeilee > 2019-02-25 08:59 | Report Abuse

Opening indicated @ 2.90 lol

Posted by icecool > 2019-02-25 09:06 | Report Abuse

omg

Posted by mcmann > 2019-02-25 09:08 | Report Abuse

again Gamuda kena

Posted by mcmann > 2019-02-25 09:09 | Report Abuse

Why la always is gamuda kena one hahaha

Posted by v1vin > 2019-02-25 09:11 | Report Abuse

PH no like Gamuda issit hahaha

Posted by TYS_Capital > 2019-02-25 09:15 | Report Abuse

seriously, this stock is in a very serious smoke

Posted by BananaGoreng > 2019-02-25 09:16 | Report Abuse

nice wayang, later sure go up

Posted by v1vin > 2019-02-25 09:17 | Report Abuse

straight drop from resistance line to support line lol, gg PH

Posted by davidkkw79 > 2019-02-25 09:18 | Report Abuse

This government is really a disaster for bursa market!

Posted by KAQ4468 > 2019-02-25 09:19 | Report Abuse

waaaaaaaaaaaaaaaaaaaaaaa

Posted by dompeilee > 2019-02-25 09:20 | Report Abuse

dompeilee Crashing back towards 3.00, as predicted! Luckily I sold 75% of my stake from 3.10 to 3.13 yesterday lol
22/02/2019 10:36

Bought back a little bit @ 2.66

Posted by warchest > 2019-02-25 09:20 | Report Abuse

Disastrous government, nation of flip-flop

Posted by Nicholasming91 > 2019-02-25 09:21 | Report Abuse

Keong kan lo, gamuda feng shui this 5 years wont be good liao

Posted by KAQ4468 > 2019-02-25 09:21 | Report Abuse

Posted by Cindybull > Feb 21, 2019 03:59 PM | Report Abuse

3.5 ia confirm no problem those sell at 2.9 is crying now hahah our tp will be above 5 let the




don't worry ...

Anjing Najib si Cindy Dunggu said will be above RM5 soon !!!!!



kah kah kah

Posted by huntertee > 2019-02-25 09:22 | Report Abuse

Possibly the best time and last chance to enter now. PH wont be that stupid to kill off the country’s biggest infra engineering company. Am foreseeing more mega deals for gamuda to cone

Posted by KAQ4468 > 2019-02-25 09:22 | Report Abuse

Anjing Najib si Cindy Dunggu said will be above RM5 soon !!!!!

Posted by RainT > 2019-02-25 09:22 | Report Abuse

after few months like that

PH will come out again with another announcement about toll either cannot do & change to new method or back or method etc

mark my words....

Posted by KAQ4468 > 2019-02-25 09:25 | Report Abuse

kah kah kah kah

Posted by kalanlady > 2019-02-25 09:25 | Report Abuse

madu di tangan kanan ku, racun di tangan kiri ku… yg mana hang nak pilih la

Posted by KAQ4468 > 2019-02-25 09:26 | Report Abuse

gua rasa next week sure Anjing Najib si Cindy Dunggu pergi bom rumah Dr Mahathir ...



wakakakakaka

Posted by DingDongHai > 2019-02-25 09:26 | Report Abuse

Let it free fall first. When rm2 is the buy time. Penang lrt and kvdt2 still under tender.. hope for something big to gamuda

Posted by KAQ4468 > 2019-02-25 09:28 | Report Abuse

Posted by kalanlady > Feb 25, 2019 09:25 AM | Report Abuse

madu di tangan kanan ku, racun di tangan kiri ku… yg mana hang nak pilih la




aku pilih Cindy Dunggu !!!!!


the most Dunggu kaldai in i3