Scrutinise thoroughly Gamuda's highway deals - Kadir Jasin

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KUALA LUMPUR (June 25): The Pakatan Harapan (PH) government should be more thorough in scrutinising the proposed purchase of Gamuda Bhd's highway assets, veteran newsman Datuk A. Kadir Jasin said today.

Writing in his Facebook account, the media adviser to the prime minister acknowledged Gamuda's plan to sell its toll highway assets in the Klang Valley to the government for RM6.2 billion for whatever is left of the concession period.

"Some say it's a win-win deal. Others aren't so sure. The latter says it's cheaper to compensate Gamuda for non-toll collection than to buy the four highways outright, at an amount less than the proposed purchase price.

"In any case, the highways will revert to the government in about 10 years when the concession period ends," said Kadir.

The Ministry of Finance recently announced it has formally handed over letters of offer to four toll concessionaires with an enterprise value of RM6.2 billion.

The four tolled highway concessions in which Gamuda has significant stakes are Damansara-Puchong Highway (LDP), Sistem Penyuraian Trafik KL Barat (Sprint), Shah Alam Expressway (Kesas) and the Stormwater Management and Road Tunnel (SMART).

The breakdown of the offer prices are LDP for RM2.47 billion, Sprint (RM1.98 billion), Kesas (RM1.38 billion) and SMART (RM369 million). - Bernama