KUALA LUMPUR – Motorists using the highways under Amanat Lebuhraya Rakyat Bhd (ALR) saw direct savings estimated at RM487.6 million, following the freeze on toll rate hikes.
The current toll rates charged in each highway – the Shah Alam Expressway (Kesas), the Damansara-Puchong Highway (LDP), the Kuala Lumpur Traffic Dispersal Scheme Expressway (Sprint), and the Smart Tunnel – remain unchanged until the end of their concession period.
LDP motorists saw direct savings amounting to RM200.3 million between January 1, 2022 and March 31, 2023. Other highways led to savings of RM143.5 million (Kesas), RM127 million (Sprint), and RM16.8 million (Smart).
Based on ALR’s recently released sustainability report, this was in line with the company’s model, which came after acquiring said highway concessionaires.
The restructuring is set to provide the government with an estimated compensation savings amounting to RM4.3 billion as a whole, the report added.
Another benefit mentioned in the report includes the shortened period of the toll concessions, as any excess profits generated from the tolls would be channelled back to redeem debt financing at an earlier rate, thus saving Malaysians more money.
Meanwhile, ALR also strives to take part in tackling climate change by reducing its greenhouse gas emissions and swapping out its large energy consumption for greener alternatives.
The company aims to adopt LED lighting in its buildings, while also taking part in an initiative to similarly replace all mainline streetlights with LED lights over the next few years.
It will also progressively install solar panels at viable sites by the end of 2024, and plant 1,375 trees annually.
ALR also has RM10 million set aside from its proceeds to fund eligible sustainable and responsible investment projects, including the solar panel and tree planting initiatives.
Other projects include financial assistance to employees and their children to pursue tertiary studies, as well as upgrading the Smart Tunnel to divert and accept higher levels of floodwaters.
ALR is a private, not-for-profit entity established in 2021 with the specific purpose of expediting the shortening of toll concessions and returning four highways – LDP, Kesas, Sprint, and Smart – to the Malaysian government.
On October 13 of last year, it issued RM5.5 billion in nominal value AAA-rated Senior Sustainable and Responsible Investment Sukuk Murabahah and acquired the four concessionaires. – September 30, 2023