The two state firms have minority stakes in Kesas and Sprint
PETALING JAYA: Selangor Menteri Besar Azmin Ali has demand an explanation from two state-owned firms for their failure to discuss the increase in toll rates in their board meetings, whereas they have stakes in the companies operating the Kesas and Sprint highways.
Azmin disclosed in a press statement today that the Selangor State Development Corporation (PKNS) and the Kumpulan Perangsang Selangor Berhad each had a 30% stake in Kesas and 20% in Sprint respectively.
He told them to provide their explanation to the Selangor Economic Action Council.
Azmin condemned the Federal Government’s decision to allow the toll hike on 18 highways, saying it was irresponsible. He said the people were already suffering from worsening economic conditions. The toll hike of between 10 sen and RM4.70 would only add to their burden, he added.
He said it was his administration’s policy to protest against toll hikes despite it’s lack of say in the matter.
He said the state government had called for the use of minority power in Kesas and Sprint to reject the hike.
He also said his government had suggested that the Federal Government use proceeds from the Goods and Services Tax to compensate highway concessionaires so that they wouldn’t have to raise toll rates
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