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Strategies & Market Trends : Asia Forum
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To: Bill Ounce who wrote (4395)6/15/1998 12:15:00 PM
From: Bill Ounce  Read Replies (1) of 9980
 
Malaysia-Singapore Second Crossing carrying less than expected load.

From: Theotherhalf <mobile@tm.net.my>
Newsgroups: soc.culture.malaysia
Subject: A BRIDGE TOO MANY
Date: Mon, 15 Jun 1998 01:51:56 +0000

A BRIDGE TOO MANY The recently opened Malaysia-Singapore
Second Crossing is carrying less than 25% of its expected
load. Company sources say even if traffic tripled the
crossing could not break even. Linkedua (M) Berhad, the
Malaysian operator, wants a government bailout. Linkedua is
part of the debt-ridden Renong Group controlled by PM
Mahathir Mohamad's ally Halim Saad. The low revenues are due
to the recession and Singapore's decision to collect tolls
at its end. The link is tied to Renong's development plans
in Bandar Nusajaya township near the crossing. It bought the
land years ago, before prices fell. Now, no one is
interested. One bailout idea is to close the old causeway
for some flimsy reason to force traffic to the new one.
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