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.)


l藍海 said...


Anonymous said...

don't hold your breath!

thats probably the last you will hear of this!

New way of saying we will do what we like, when we like....not what is necessarily the best for all malaysians!


Anonymous said...

First stage, study DAP proposal in detail and reporting back professionally. Final stage, cabinet decided against PLUS takeover for what ever reasons.
The only hope that most Malaysian rely on is next general election. However, the push for takeover of PLUS and other toll concessionairs only involved DAP and may be PAS but not PKR. In fact, Anwar has not voice his support for government to buy back. Anwar is very much involved in the privatization policy during 1990s and his opinion will be much appreciated. Thus, Pakatan as a coalition should present its view with regards to deprivatisation of toll concessions .

KoSong Cafe said...

Multiple choice answer:

1. Minister gave you a reply to get you off his back for now;
2. Minister really looked into your proposal, as well as MCA's Chua Tee Yong's, and cannot decide;
3. Minister used both your proposals and come up with a third proposal, and credit it to Umno;
4. Minister accepts your proposal in toto without thinking, and got sacked;

mut said...

The not-so-clever people appointed by Mahathir and then blamed when he stepped down for the one-sided contracts must be the ones doing the perusal and study !

Just kick UMNO out and settle this ourselves.....

Towards healthy and leisure life~! said...

Don't give them chance, continue applying pressure untill the toll rate reduce! Thanks!

Anonymous said...

Given the debacle of the water issue where the Federal govt insisted on paying more money to the concessionaire than required, I would tend to believe that the govt will make a payment that will be >10 yrs payback instead of the 6 yrs envisioned by the DAP proposal.

So, the incumbent govt may consider the buy back but at what price ???

Anonymous said... susah for wat...Kick BN out in GE13 and let PR buy back our highways :). If not for anything else, the rakyat should vote for a government keen on giving back to the nation - not those greedy politicians keeping everything for themselves!!!!

Anonymous said...

BN gonna buy back PLUS? That is like saying an Iban, Dayak, Kadazan or Penan can be the Prime Minister of Malaysia.

Better wait for Pakatan to take over federal!

Make a list of promises to the people come GE13 in black and white - written.

Anonymous said...


Anonymous said...

Ok to buy back Highway, but not ok to buy back Tiger Park (when it becomes white elephant).

What is happening in Penang ah? When he say CAT i din expect big cat (Tiger):)

Anonymous said...

Really. What's happening in Penang ? Heard Jeff Ooi confirmed to resign ?

Anonymous said...

I tell you what let PR buy the highways and then we charge triple when BN cars pass through the PR toll.

Anonymous said...

I wonder if the compensation paid by government can be collected back by inducing higher tax on them, just like 90% tax for bonus taken by AIG staffs in US.