MTD Infra sees revenue going up by 20%
Category: Publication - The Star
KUALA LUMPUR: Toll concessionaire MTD Infraperdana Bhd (MTD Infra) expects revenue for financial year ending March 31, 2008 (FY08) to increase by 20%, given that toll rates have increased by the same quantum beginning Jan 1, 2007.
Toll rates for five highways in the country that increased beginning this year include the Kuala Lumpur (KL)-Karak Highway, which is managed by MTD Infra.
Executive vice-chairman Nik Fauzi Nik Hussein said while the toll hike had only impacted the company’s fourth and final quarter of FY07, the full year results should still see some improvement from the previous year.
Furthermore, higher toll rates would not affect the company’s operating expenses, hence margins should not have significant changes, he said after the company EGM yesterday.
The concessionaire anticipates completing the resurfacing work on the KL-Karak Highway by June.
The upgrading that started 1½ years ago required about RM100mil, of which some RM60mil had already been spent.
Meanwhile, shareholders of MTD Infra approved the proposed capital repayment of 35 sen per share yesterday. The exercise, pending authorities’ approval, was expected to be completed by the third quarter of this year, Nik Fauzi said.
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