We tried to reload our Touch ‘N Go card in late 2019 at a RapidKL counter in KL Sentral Monorail Station. We thought there will be no reload fee imposed to Touch ‘N Go customer. Unfortunately, RapidKL has imposed a reload fee of RM 0.50 to us.
While the government is trying to help its people by not adding to the burden of reloading Touch ‘N Go, some providers are still charging the customers for reload fee. This adds the burden for the customers, especially the ones who are not able to put a huge sum to reload their cards, such as RM 100.00 or RM 200.00 reload amount at once.
Apart from the reloading fee, Touch ‘N Go customers are also at the mercy of the providers when they need to pay extra for certain services. The occurrence is also common at shopping mall car parks. The parking operators are charging up to 10% additional parking fee as “fee for convenience” since the customers are able to pay using their Touch ‘N Go and avoid queuing up at the autopay machines.
The business owners and service providers are always looking for opportunities for them to make extra profits. Therefore, we are not able to blame them at an entirety for this predicament. This is when the government needs to step in and ensure it serves the best interests of the customers.
For latest information on public transport schedules, visit MYJadual.com – Malaysian Public Transport Schedule Information.
To assess investment performance, we are able to look at the annual report of our investment (ASB investors can refer to ASB annual report). As a concerned investor, we can always carry out in-depth study of the project background as well as its risk profile. Since our investment with PNB is easy to liquidate, if we don’t trust PNB anymore in investing our money, there are other investment options for us to use.
Investing in high-risk business may expose them to bigger potential of losing their wealth. Therefore, in order to keep their investors from investing somewhere else, they need to keep on investing in low risk sectors while maximizing profit.
A little bit of background regarding the 14.5ha land purchase (location of Stadium Merdeka and Stadium Negara):
16 years ago, PNB paid RM 220 per sqft to Pengurusan Danaharta Nasional Bhd. 10 years later, the market value of the land has appreciated to RM 800 per sqft (source: http://www.thestar.com.my/business/business-news/2010/10/23/warisan-merdeka–a-beacon-to-pnbs-future/). I think they already made some profit there.
Instead of cashing in the profit, they decided to grow it by doing more development to surrouding land while preserving heritage value of those two buildings mentioned before.
The project is handled by PNB Merdeka Ventures Sdn Bhd, a company wholly-owned by PNB. As a concerned citizen (and investor), there are many opportunities for us to voice out our concerns and learn more about the project so that opportunists won’t be able to take advantage of our ignorance.
KL Sentral was developed to be the iconic intermodal transportation hub for Kuala Lumpur. The early phase of its mega-scale development stage is the KL Sentral station itself. The 700 ft x 515 ft station that opens in 2001 is now facing some of the problems that become a nuisance for commuters and tourists.
One of the problems highlighted is the abundance of stalls selling small items such as souvenirs and headscarves. As long as the stalls are carefully placed around the station that should not be a huge problem. Small stalls can also be seen around other transport hubs such as Port Authority Bus Terminal and Grand Central Station, both located in Manhattan, New York City, United States.
Another problem highlighted is the poor integration of bus system with the station, resulting in inefficient usage and confusion among travelers. As said in my previous article, in order to build a transport hub, we need to have a robust plan, make it future proof and have excellent integration across services.
In general, KL Sentral has already been doing its job greatly as rail transport hub. However, it needs to improve on its way of handing bus and taxi service.
Read more here:
[The Star] – Traffic consultants highlight KL Sentral’s failure as the bus hub for Klang Valley