Penang Second Bridge concessionaire urged to give toll discount

KUALA LUMPUR, Aug 6 (Bernama) – Jambatan Kedua Sdn Bhd (JKSB), concessionaire for the Sultan Abdul Halim Muadzam Shah or the Second Penang Bridge, has been urged to consider providing a toll discount to attract more users.

The 2017 Auditor General’s Report 2017 Series 1 on the Management of Government Companies and Federal Government Agencies issued today said despite the satisfactory toll collection, four financial analysis studies indicate that JKSB’s overall financial position was still unstable.

The report said the company also posted annual losses for three years in a row, with accumulated losses rising.

“In addition, toll collections could still not cover the high expenses and debt liabilities as compared to the total assets,” it said.

It noted that besides the Second Bridge being a 30 minutes’ drive from the main towns, a rebate of 20 per cent by the Penang Bridge concessionaire for Penang residents registered with PLUS had also influenced bridge users’ choices.

It added that as of last year, traffic on the Penang Second Bridge had risen by 1.97 million vehicles or 32.4 per cent compared to 2016, with toll collection at RM38.64 million, or 29.5 per cent higher than the previous year.

In its response, JKSB said it is targeting a modest seven per cent or RM2.68 million rise in toll collection this year compared to last year.

The company also said it expects an increase in traffic volume in stages with the completion of the rest and recreation (R&R) project in the fourth quarter of this year, as well as 20 per cent higher traffic volume after the opening of the new Bayan Lepas Expressway that is connected to the Penang Second Bridge.

-- BERNAMA