PLUS makes RM8.4 million profit for 2014 - Rosnah

PLUS Expressway Berhad, the concessionaire for the North-South Expressway earned an after-tax profit of RM8.4 million for the year ending Dec 31, 2014, the Dewan Rakyat was told today.

Deputy Works Minister Datuk Rosnah Abdul Rashid Shirlin said that for 2014, the total PLUS toll revenue of RM2.61 billion involved an annual traffic volume of 506 million vehicles.

"While revenue from PLUS' toll collection every year is high, the expenses for managing the highway was also high with every ringgit collected for toll, the concessionaire had to repay the loan interest, upgrade and repair existing highways," she said at the Dewan Rakyar here, today.

She was responding to a question from Datuk Mohd Idris Jusi (PKR-Batu Pahat) who wanted to know the profit made by PLUS until 2014 and plans to extend the concession as well as the rationale for it.

She said an estimated average of 50 per cent of PLUS toll revenue was used for repayment of loans, 20 per cent for operations and maintenance, 15 to 20 per cent for cost of upgrading and repairing and only 10 per cent returns to shareholders.

Meanwhile, in reply to another question by Mohd Idris, she said the government was concerned about people being anxious over the increase in toll rates and had implemented various initiatives including adjusting toll rates after eight years.

"The government has shut down eight toll plazas as well as reduced toll rates at several toll plazas nationwide, namely at PJS 2 Toll Plaza, New Pantai Expressway; Sungai Nyior Toll Plaza at Butterworth Outer Ring expressway and the Toll Plaza at Shah Alam Expressway (Kesas)," she said.

The government at the same time encouraged toll concessionaires to carry out Corporate Social Responsibility activities, for example PLUS allocates RM20 million annually for the Plusmile rebate programme and rebates during the festive season.

"This initiative is in line with the manifesto of the Barisan Nasional in the 13th general election to reduce increases in highway toll rates in stages which are often manipulated," she said.