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Kuala
Lumpur, Wednesday:- PLUS Expressways Berhad’s three new
local subsidiaries, which added 18 per cent more lane-kilometres
to the Group’s network of highways, have contributed to the
growth in traffic volume for the first quarter of this year.
The three subsidiaries - Expressway Lingkaran Tengah Sdn Bhd
(ELITE), Linkedua (Malaysia) Bhd and Konsortium Lebuhraya
Butterworth-Kulim (KLBK) Sdn Bhd – that was acquired late last
year and early this year, have added 651 lane-kilometres to PLUS
Expressways’ existing 3,640 lane-kilometers.
“The acquisitions of three new subsidiaries have augured well
for the Group’s performance. The improvement in the first
quarter 2008 was also driven by the encouraging traffic volume
growths of ELITE and LINKEDUA at 8.8% and 19.0% for
respectively,” said Noorizah Abd Hamid, the Managing Director of
the Group.
This has brought the Group closer to achieving its KPI target on
lane-kilometer growth of 20% growth by end of 2008. The Group
remains on track to meet the KPI target on revenue growth.
The expansion of the North-South Expressway in the south from
Seremban to Ayer Keroh and in the north from Rawang to Slim
River, which was fully completed in May 2008, had further
contributed to a growth of 7.8% in lane-km.
“Such completion provides our network with additional capacity
and the traffic flow has improved since,” said Noorizah.
PEB’s immediate goal is to fully complete the modification works
for through traffic between Ipoh Selatan and Jelapang before end
of 2008.
In 2007, PLUS had also completed the upgrading of three Rest
Service Areas (RSAs), four laybys, one interchange and three
toll plazas along its expressways.
This year, the Group has identified two RSAs, five laybys, and
four toll plazas to be upgraded to make sure that its highways
remain to be safe, efficient and comfortable.
Enhancements made to the quality of service are the most
important contributor to the Group’s excellent performance in
2007. The notable key innovations were the Travel Time Advisory
(TTA) and PLUS Mobile Alert system (PLUSMA) to enhance
operational efficiency. TTA is a travel time schedule to stagger
the flow of traffic complemented by PLUSMA which provides real
time information on traffic condition via Short Messaging
Service (SMS) for more efficient traffic management during peak
travelling periods.
Noorizah said expansion and growth remain the Group’s top
agenda, and in this it is fully committed and focused to
successfully deliver projects on hand, whilst continuing to
explore other strategic value-creating investments both locally
and internationally.
Internationally, the Group ventured abroad into India and
Indonesia in 2006. In 2007 it secured another highway concession
in Indonesia by winning the tender bid for the proposed 25.4km
Cimanggis-Cibitung Toll Road, which is part of the Jakarta Outer
Ring Road 2, for a concession period of 35 years.
The Group is aware of the looming global economic condition and
it has intensified efforts in managing its costs and margin.
“Despite the difficult period, PLUS Expressways will continue to
look for new value-enhancing opportunities, with focus on toll
roads and toll road-related businesses and to deliver high
standards for the safety and comfort of our customers, while
concentrating on measures to weather the challenges ahead,” said
Noorizah.
Capital improvement efforts in 2007 include the conversion of
RM3,550 million in nominal value of Senior Sukuk in exchange for
the outstanding BAIDS. The issuance has enabled the Group to
continue to be listed in the Dow Jones Islamic Market Index.
For year 2007, PLUS recorded a toll collection of RM1,820.5
million, firmly supported by the 7.7% growth in traffic volume,
which was driven by the underlying robust economic growth as
well as enhanced operational efficiency. The growth momentum
continued into first quarter 2008 as PLUS recorded traffic
volume growth of 8.1% against first quarter 2007.
At its 6th Annual General Meeting today, PLUS Expressways
shareholders voted for the payment of a final tax exempt
dividend of 8.0 sen per ordinary share. Together with the
interim tax exempt dividend of 6.0 sen per ordinary share paid
in September last year, the total dividend for financial year
2007 would be 14.0 sen per ordinary share as compared to 12.5
sen per share paid for financial year 2006.
The Group has again delivered its KPI target on dividend growth
of 12%.
PLUS Expressways is 64 per cent-owned by Khazanah Nasional Bhd.
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