ALR is in the process of acquiring four highway concession companies, Shah Alam Expressway (KESAS), Western Kuala Lumpur Dispersal Link (SPRINT Highway), Lebuhraya Damansara-Puchong (LDP) and Stormwater Management and Road Tunnel (SMART), by raising funds through Sustainability Sukuk or Sustainable Responsible Investment Sukuk.
ALR and its subsidiaries will be overseen by a board of directors ("BoD") and the four concession companies will continue to operate and perform maintenance of the highways with the existing management team and staff intact, upon the completion of our proposed acquisition.
ALR's BoD have full fiduciary duty to the company's capital providers. ALR's BoD are also its shareholders and ALR's shareholders are its BoD.
ALR's shareholders are "not-for-profit" motivated and thus cannot extract any dividends nor distribution whatsoever, from ALR.
Therefore, all and any profits generated through the operation of these four highway concessions must be channelled purely for the servicing and early redemption of ALR's financial debts, which is solely to the benefit of the motoring rakyat since ALR is obligated to return the concessions to the Government as soon as its financial debts have been fully redeemed.
Under our ALR structure, the more traffic there is on our highways, the shorter the concession will be.
1 the return of Concessions shall be performed immediately upon sufficiency of cash resources to account and provide for all the costs and expenses of cessation of business and termination of employments.
Amanat Lebuhraya Rakyat Berhad directors and management are committed in maintaining good corporate governance by constantly having in place an effective corporate governance framework.
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