Loke: Gov't will only repay LTAT's capital for AES takeover, nothing else

The government will only repay the RM555 million capital invested by the Armed Forces Fund Board (LTAT) to take over the Automated Enforcement System (AES) project, and will not consider paying LTAT for other AES-related matters, said Transport Minister Anthony Loke.

In saying this, Loke said the government has no intention to review the repayment figures as "it was a bad decision by LTAT in the first place", referring to the board's decision to take over two AES project concessionaire companies - ATES Sdn Bhd and Beta Tegap Sdn Bhd.

"As far as the government is concerned, our position is that we will only repay RM555 million.

"Of course they thought there will be profit, and the current chairman tries to justify that it was a good investment. That is subject to LTAT members to evaluate," he told reporters during a press conference in Putrajaya today.

Loke was responding to a question regarding LTAT ex-chairperson Mohd Anwar Mohd Nor's statement yesterday, in which Anwar said the government should repay the board "all what is owed" in the takeover including a promised 12 percent return per annum.

Loke added that the current administration "is not bound by" any valuation or figures determined by the previous government concerning the takeover.

On Aug 17, the minister announced the government's decision to write off 3.1 million AES summonses that haven't been paid by offenders, amounting to a total of RM435 million.

Loke had said that the ministry would not renew the contracts of the concession companies and that all AES cameras will be taken over by the Road Transport Department (RTD).

- Mkini