As regular as the Sun rises from the east, the toll rate is going up again.
It is really ridiculous and clearly another case of robbing Peter to pay Paul (read my last post) , only thing in this case Peter is robbed again and again and there seems to be no escape out of this. Paul as usual is laughing to the bank.
What lopsided agreement is this?
The outgoing PM is suggesting that the toll increase should not be allowed at this moment. But the way he sounds it, it seems he is just making a suggestion, and not as a policy statement, and as Prime Minister he should be more assertive and ordered that the price hike hike be disallowed. . It would be interesting to see how the cabinet decides in view of the PM’s statement.
I think since the mistake of signing the agreement has been done and cannot be undone, there is a clear case of buying over PLUS, but not at an inflated rate . (remember the case of MAS when a someone was rescued by selling his shares at RM8 to the government when the actual share price was way way below that?).
I am sure financial institutions will be clamoring to give loan to buy over PLUS, since this is a gold cow. The goverment can then reduce the toll and still would be able to make money to service the loan.
It was reported that government is the majority owners and the minority owns about 35% of Plus. If that is the case, PLUS can be easily taken over at cost , since the minority owners have already made so much of money.