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KIDEX. Cancelled, Rejected or Coming back?

Selangor MB said that the project has been cancelled because the three conditions stipulated were not fulfilled despite the deadline of 14 February. The Selangor state government is thus announcing the cancellation of Kidex. The three conditions? As follows:
– To disclose the project’s independent Traffic Impact Assessment (TIA) report, a Social Impact Assessment Report (SIA) and the Environmental Impact Assessment (EIA) report. The reports must show benefit to users and residents after taking into account negative impact of going ahead with the highway.
– To reveal toll charges for whole duration of concession including increments. Concessionaire must provide estimate of amount of toll to be collected and rate of return to investment.
– The concession agreement must be revealed in its entirety which is in line with Pakatan Rakyat’s promise to affirm transparency and accountability.
Meanwhile on 17 Feb, in The Malaysian Insider, a report has emerged that some PJ residents are upset because their views were not taken into consideration. With this cancellation, many of the residents currently affected by the jams would have to continue suffering. Some said the Selangor government was insensitive and some said they needed an alternative route if indeed Kidex has been cancelled.
I have used LDP everyday for over 1 year and it is really jammed for majority of the time. Thus, if it is true that KIDEX can help lessen this jam, it should be allowed to proceed. As for all the conditions, I think the first one which is to reveal the (TIA), (SIA) and (EIA) is very appropriate and it should be revealed to all. The only thing is, once it is revealed would the losing side accept this and stop their actions? The second condition seemed reasonable but calculation is likely to be at best an estimate. Just looking at even the Penang Bridge Toll and you would know that it is impossible to estimate with any degree of accuracy. Concession agreement revealed in its entirety. Seriously I would love this and I hope this is true for every other agreements and not just this one. Agree? Or are the lines still drawn and both sides are STILL standing at their own side no matter who is right or wrong? Unfortunately for Malaysia, this is still true. The affected residents? They would just have to wait for the conclusion.
written on 17 Feb 2015
Next suggested article: KIDEX off? KIDEX on? More expressways on the way.
Or: KIDEX. Why the secrecy and why invite if not wanted?

Property Investment always start with knowledge. Equip ourselves with more here.

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Charles Tan The Founder The Writer Kopiandproperty
Charles Tan

Charles is Founder of kopiandproperty.com He writes from his investment experience for the the past 20 years in investments including property, stock, unit trust and more as well as readings and conversations with many property gurus in the industry. kopiandproperty.com is an independent property blog which is not affiliated to any media company, property developer or even real estate agencies.

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