The federal government should hand over both Penang bridges to the Penang state government – so that the state can use the tolls as a form of congestion pricing and finance public transport infrastructure in Penang. Continue reading »
Oct 152010
Three different entities are said to be eyeing the north-south highway cash-cow.
- EPF-UEM has just put in a RM23 billion bid for PLUS Expressways.
- MMC Corp (yes, MMC again) had offered to buy UEM Group Bhd, the parent company of PLUS.
- Asas Serba Sdn Bhd, which last year put in a RM50 billion proposal to take over PLUS and 21 other toll concessions.
Feb 242010
The Selangor state government has received a letter of demand for RM339 million for its refusal to allow a hike in water tariffs last year.
The compensation claim was contained in a letter from the lawyers of Syarikat Bekalan Air Selangor (Syabas), Selangor Menteri Besar Khalid Ibrahim revealed in a statement this evening. The letter gave the Selangor government 14 days to pay up.
Syabas is 70 per cent owned by Puncak Niaga Holdings Bhd, which is in turn 41 per cent controlled by Puncak Niaga executive chairman Rozali Ismail. According to Puncak Niaga’s Annual Report for 2008, directors’ earnings for the Puncak Niaga group totalled RM11.6 million for the year with the highest paid director earning more than RM5.7 million.
