How much do we pay for tolls on a monthly basis? RM10 per day x 30 days= RM300. That’s RM3,600 per year or RM36,000 every 10 years. WOW. That’s 10% down payment for a RM360,000 home, all lost to tolls. Well, perhaps we should start calculating how much all those who are currently using toll could save and perhaps have enough down payment for a property many years later? Perhaps this will stimulate the property markets of Kuala Lumpur and Selangor? After all, RM180 million divided into 10% down payment for RM250,000 affordable units meant it’s enough for 7,200 units!
By the way, toll concessionaires are necessary yeah. This is because the expressway builders are also taking a risk to build these expressways too. Who knows, after building no one wants to use them? This is why the government should not be the one building them and then continue to incur high maintenance costs which ultimately still have to come from taxpayers. Worst still, these tax payers may not even be the ones who are using those expressways! In the near future, we will start saving.
Article in themalaysianreserve.com According to Finance Minister Lim Guan Eng, after the government has acquired four highway concessionaires for RM6.2 billion, the users of these expressways will be able to save as much as RM180 million annually. The four concessionaires are Kesas Holdings Bhd, Sistem Penyuraian Trafik KL Barat Holdings Sdn Bhd (Sprint) and Syarikat Mengurus Air Banjir Dan Terowong Sdn Bhd (Smart) concessionaires.
This is because the users will be able to save from paying congestion charges which is reduced from the current toll charges. He said, “In principle, the government will give discounts of up to 30% for hours outside of peak periods and free travel during off-peak periods.” Some were questioning why the concessionaires are acquired now when the expiry dates are between nine to 23 years from now. He said, “Clearly the immediate rationale will be that highway users will pay a reduced congestion charge that can save them RM180 million per year.” To read the full article with more details, click here Article in themalaysianreserve.com
Savings, savings and more savings. This is for those who are driving daily and pass through expressways after expressways and paying non-stop. Ready to put those savings to good use? Well, as long as one is using it to buy something, it should help to generate growth in the economy. A savings of RM180 million and all are spent wisely to support the local economy meant a multiplier effect of 4 times. That’s RM720 million in total contribution to the economy. Not bad at all. By the way, I hope EPF does not sell their ownership / shares in these toll concessionaires. As a contributor, I do hope my EPF fund continue to earn good and stable returns. Toll is definitely one of them. Happy understanding.
Article written and edited by Charles. News article summarised by Dina Batrisyia.
<Featured Image is courtesy of Stock Photos from Joyseulay >
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