Sharil samad - ALR plan to acquire Klang Valley highways gets thumbs up from financial institutions

ALR plan to acquire Klang Valley highways gets thumbs up from financial institutions

Last week, ALR issued a statement saying the acquisition plan is an integral part of the toll restructuring proposal for the four highways, as announced by both the Prime Minister Datuk Seri Ismail Sabri Yaakob and the Works Minister Datuk Seri Fadillah Yusof recently.

ALR said the takeover would remove any need for the government to pay compensation and the risk of future toll hikes that would affect highway users.

Description: The prime minister earlier said the restructuring of the four companies is expected to reduce compensation costs from January 1, 2022, until the end of the concession period, and enable the government to save at least RM4.

Views: 4175 Date: 11.05.2022 Favorited: 187 favorites
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ALR has offered to entirely acquire the Shah Alam Expressway KesasWestern Kuala Lumpur Traffic Dispersal System Sprint HighwayDamansara-Puchong Expressway LDPand Stormwater Management and Road Tunnel Smartfor an aggregate enterprise value of RM5.
For this, the government was subsidising the toll charges amounting to billions of taxpayer funds annually.
However, Pakatan Harapan PH had raised concerns over the takeover plan, urging the government to on the details of ALR.

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    The source close to the proposal, which will see a trustee taking ownership of the highways and keeping toll rates unchanged till the end of their concessions, said ALR has not only convinced the financial institutions on the viability of the proposal, but is now feeling rather bullish that any bonds or sukuk to be issued would good ratings and be well received.
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