KUALA LUMPUR: Jambatan Kedua Sdn Bhd (JKSB), the concessionaire for the Sultan Abdul Halim Muadzam Shah or the Second Penang Bridge, has been urged to give a toll discount to attract more users.
The Auditor-General’s Report 2017 Series 1 on the management of government companies and federal government agencies issued today said the toll collection was satisfactory but four financial analysis studies indicated that JKSB’s overall financial position was still unstable.
The report said the company also posted annual losses for three years in a row, with accumulated losses rising.
In addition, toll collections could still not cover the high expenses and debt liabilities compared to the total assets, it said.
It noted that besides the Second Bridge being a 30 minutes’ drive from the main towns, a rebate of 20% by the Penang Bridge concessionaire for Penang residents registered with PLUS had also influenced bridge users’ choice.
Last year, traffic on the Second Bridge rose by 1.97 million vehicles or 32.4% compared to 2016, with toll collection at RM38.64 million, or 29.5% higher than the previous year.
In its response, JKSB said it is targeting a modest 7% or RM2.68 million rise in toll collection this year compared to last year.
The company also said it expected an increase in traffic volume in stages with the completion of the rest and recreation (R&R) project in the fourth quarter of this year, as well as 20% higher traffic volume after the opening of the new Bayan Lepas Expressway connected to the Second Bridge.