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Thread: ERL to KLIA: You pay even if you don't fly

   
   
       
  1. #1
    Join Date
    Oct 2008
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    ERL to KLIA: You pay even if you don't fly

    Fly or ride, or neither, taxpayers still pay ERL

    By Shannon Teoh

    KUALA LUMPUR, Feb 24 – Malaysians have been subsidising the Express Rail Link (ERL) service since last April, it was revealed in Parliament today

    Transport Minister Datuk Seri Ong Tee Keat said that YTL Corporation’s ERL Sdn Bhd, the operator of the high-speed rail service from here to the Kuala Lumpur International Airport, had been indirectly subsidised since last April because the company is unable to cover costs due to poor sales.

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    and

    LCCT passengers also subsidising ERL
    py

  2. #2
    Join Date
    Oct 2008
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    179

    Re: ERL to KLIA: You pay even if you don't fly

    Quote Originally Posted by pywong
    Fly or ride, or neither, taxpayers still pay ERL

    By Shannon Teoh

    KUALA LUMPUR, Feb 24 – Malaysians have been subsidising the Express Rail Link (ERL) service since last April, it was revealed in Parliament today

    Transport Minister Datuk Seri Ong Tee Keat said that YTL Corporation’s ERL Sdn Bhd, the operator of the high-speed rail service from here to the Kuala Lumpur International Airport, had been indirectly subsidised since last April because the company is unable to cover costs due to poor sales.

    More…

    and

    LCCT passengers also subsidising ERL
    they should extend the ERL line to LCCT2. or make facilities (internal BUS transfer) from KLIA terminal to
    KL LCCT terminal. Very near only. yet we all have to go a big round (external bus transfer) just to fly in LCCT.

  3. #3
    Join Date
    Oct 2008
    Posts
    13,391

    How the scam works

    The scam works this way:

    1. Construct the project at inflated costs at twice or more of actual cost.
    2. The profit is siphoned away upfront through sub-contracts, suppliers, commission agents, kick-backs, etc.
    3. Have a contract that guarantees a very high passenger traffic with hidden charges that kicks in the moment the traffic figures are not met. So far, no one has explained why the govt should guarantee the profit of a private business proposal.
    4. Extract hidden subsidies from the public like the present case where LCCT passengers also pay ERL.
    5. List an IPO and let the suckers, errr I mean the investing public, pay for the shares. They are the hostage in case the project fails and the govt has to come in with a bail out.
    6. To make doubly safe, borrow funds from the international investor in the form of bonds. These investors will pressure the govt to ensure that the ERL is profitable in order to repay the loans.

    This scheme was developed in the Toll Highways and repeated in all the privatised projects.
    py

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