Monday, March 23, 2009

PLUS Buy-back: Minister's Reply

I asked in one of my oral questions for the current parliamentary session with regards to the proposal which DAP has forwarded to the Ministry of Finance and Ministry of Works with regards to the buy-back of PLUS Expressways Berhad.
...adakah ia lebih wajar untuk Khazanah Nasional yang memiliki 63.9% syarikat PLUS, untuk membuat tawaran am untuk membeli ekuiti daripada pemilik minoriti supaya perjanjian PLUS dapat dirombak untuk mencapai persetujuan harga tol yang lebih munasabah dengan kos pembinaan dan penyelenggaraan.
The answer is as follows:
...Kerajaan pada masa ini sedang menjalankan kajian berhubung daya maju cadangan tersebut memandangkan ianya dijangka akan melibatkan kos yang besar. Sehubungan itu, hasil kajian tersebut akan dimaklumkan setelah ianya dimuktamadkan kelak.
The good point, if the above reply is to be taken at face value, is that they are actually carrying out the study! Before March 8th, the idea would have been dismissed outright, but at least now it's being "considered".

The bad is, what's there left to consider or study? The later we conduct the exercise, the more compensation the Government will have to pay! The earlier we do the buy-back, the more tax-payers save.

(Note that this question was submitted before the details of the DAP buy-back plan was finalised, in which we worked out that we can make PLUS toll-free within 6 years.)
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