Toll concessionaires’ shares rise

August 14, 2018 | By | Reply More

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PETALING JAYA: The shares of most toll concessionaires rose today after the government decided to postpone the abolishment of tolls.

Among the nine toll concessionaires listed on Bursa Malaysia, Lingkaran Trans Kota Holdings Bhd (Litrak) was the top gainer, rising 2.85% or 13 sen to close at RM4.69 with 704,700 shares traded today.

The company, which operates the Damansara-Puchong Highway and Sprint Highway, was the 13th top gainer. The stock went as high as RM5.90 today.

Malaysian Resources Corp Bhd’s (MRCB) share price rose 0.59% or half sen to close at 85.5 sen with 36.02 million shares traded, making it the ninth most active stock on the bourse today. The stock went as high as 86.5 sen today.

Ekovest Bhd’s share price rose 2.06% or 1.5 sen to close at 74.5 sen with 6.20 million shares done while Taliworks Corp Bhd rose 1.75% or 2 sen to close at RM1.16 with 1.74 million shares done. Ahmad Zaki Resources Bhd shares rose 3.96% or 2 sen to close at 52.5 sen with 5.47 million shares done.

Meanwhile, IJM Corp Bhd and Bina Puri Holdings Bhd closed unchanged today, at RM1.97 with 5.15 million shares done and 25 sen with 440,000 shares done, respectively.

Gamuda Bhd saw its share price fall 1.64% or 6 sen to close at RM3.59 with 7.59 million shares traded. It was the 19th top loser on the bourse today. WCE Holdings Bhd also saw its share price decline, by 0.59% or half sen to close at 84 sen with 292,400 shares done.

On Monday, Works Minister Baru Bian said it would cost the government RM400 billion to abolish the tolls in one go and that the government does not have the financial means to absorb the impact.

“After taking into account this factor, the government has agreed to postpone the proposal to abolish tolls until our economy really stabilises and allows for it,” he told the Dewan Rakyat.

Baru said the government will study other options that it deems to be more practical, in order to reduce the cost of living.

The abolishment of tolls was part of the government’s election manifesto, among other pledges including the removal of the goods and services tax.

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