KUALA LUMPUR (Oct 12): Shares in SILK Holdings Bhd soared as much as 8 sen or 16.67% to hit its seven-month high today after it announced the toll hike rate for the Kajang Traffic Dispersal Ring Road (Kajang-SILK Highway).

SILK Holdings, the operator of Kajang-SILK Highway, told Bursa Malaysia in a filing today that the toll rates for all types of vehicles (except buses) will see an increase of 80% beginning this Thursday (Oct 15).

At 2.55pm, the stock gave up part of its gains to trade at 54.5 sen, still up 6.5 sen or 13.54%, after touching its seven-month high of 56 sen earlier.

Some 1.97 million shares were traded between 48 sen and 56 sen. At its current price, its market value stands at RM340.24 million.

According to SILK Holdings, the new toll rate for cars would be RM1.80, from RM1 currently. For vehicles with two axles and five or six wheels (except buses), the new rate would be RM3.60 compared to RM2 presently.

Vehicles with three axles or more (except for buses) would have to pay RM5.40 instead of the current rate of RM3.

For taxis, the toll charge will rise to 90 sen from 50 sen, though the toll fare for buses will remain unchanged at RM1, said SILK Holdings.

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