AS THE profit margins from toll collected by the three highway operators in Puchong are running into billions, Puchong MP Gobind Singh Deo wants the government to reduce the toll rates to ease the problems faced by residents.

Puchong residents are trapped within the confines of the Damansara-Puchong Highway (LDP), Kesas and the New Pantai Expressway and have to fork out RM1.60 to exit at any of the tolls.

During a press conference recently, Gobind pointed out that the profits were RM11.31bil for the LDP, RM5.61bil for Kesas and RM3.85bil for the NPE.

“In total, the profits were RM20.77bil. The government must explain these figures and why such huge profits have been agreed at the expense of the rakyat. Any profit should be passed down to the people in the form of reduced tolls,’’ Gobind said.

Gobind said he had written two letters to the Works Ministry asking for copies of the concession agreements but had yet to receive a reply.
Raking it in: A file picture of a long line of cars waiting at the LDP toll plaza.

He added that during the Parliament session on July 10, the Works Minister, in a written answer, had said that the agreements were classified as official secrets under the Official Secrets Acts 1972 and therefore could not be made public.

“However, a week earlier the deputy minister told parliament that the ministry had made a decision that the agreements could be made public. There is a very serious contradiction here,’’ he said.

Gobind said he was also concerned because the deputy minister had also informed parliament on the cost of building the three highways, a figure that was considerably lower than the figures given by the Works Minister in his written answer.

“The minister should encourage transparency and forward me copies of the toll concession agreements. The rakyat demands to know why they are paying high toll rates when the highway concessionaries are reaping billions in profits,’’ Gobind said.

It is also learnt that the three highway concessionaries have projected a higher profit margin from 2008-2030 based on the new toll rates on the highways soon.

“Instead of looking at ways to reduce the burden of the residents, the government is only causing more hardship. We ask for the agreements to see if there are ways the toll collection could be reduced. This is a genuine call by the residents to help resolve a big problem,’’ Gobind said.

In order to clear the doubts raised by the conflicting information, Gobind said he was prepared to take the matter to court.

“However, we hope it would not come to that stage as the relevant parties could come together for the benefit of the residents,’’ he said.

Hardware dealer Ben Toh from Bandar Puteri said due to his nature of business, he sometimes makes more than 10 trips daily out of Puchong.

“My toll expenses alone are more than RM600. Since most of us are middle-class earners, the government should implement a one-way toll collection or alternatively make toll payments more affordable,’’ said Toh.

Pensioner Chee Kee Sang echoed Toh’s sentiments, urging the government to react positively to their request.

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IT WAS once an eyesore but the lake near Taman Mutiara Puchong has now become a landmark that the residents can be proud of. A year ago, StarMetro highlighted the sorry state of the lake, which was polluted by construction debris and rubbish.

Fish in the lake died and the stench reached the residential areas nearby, making the residents both worried and angry.
Tranquil: A resident enjoying the scenic sight at the lake.

“We bought the houses because we believed that there will be a beautiful lake in the area, as illustrated in the brochures,” said resident Gerard Lim, who brought up the matter last year.

The Subang Jaya Municipal Council (MPSJ) had taken action against the developers for illegal dumping and the fine was used to clean up the lake.

The developer of Taman Mutiara Puchong has also landscaped the edge of the lake with perimeter fencing, benches, shrubs, lawns and a proper walkway of about 300m.

There is also a platform for the residents to view the scenery.

Lim said the residents were pleased with the current state of the lake.

“On a sunny day, the sunset here is very beautiful,” he said, gesturing at the shimmer of sunlight on the lake.
Neat: The lake has 300m-long walkway with benches and plants lining the sides.

During StarMetro’s visit to the lake recently, birds could also be seen gliding on the water surface in search of fish.

However, Lim pointed out that soil had eroded at certain spots of the lake’s edge.

“Land reclamation was done previously on the lake, but the foundation was clearly not strong enough,” he said.

The residents association is hoping that MPSJ could put rocks or plant suitable trees along the lake to hold the soil together to prevent further erosion.
In need of attention: Soil erosion at certain parts of the lake edge at Taman Mutiara Puchong.

“The area is dark at night so we hope streetlights can be installed, too,” Lim said.

He added that there were still some irresponsible contractors who would climb over the barrier to throw debris into the lake.

“The residents association has to be alert to prevent these cases from happening,” he said.

MPSJ president Datuk Adnan Md Ikshan said the council would first determine whether the said problems should be tackled by the developer. “If not, we will look into the matter,” he said.

The oil rally, once in overdrive, has run out of gas, igniting a stock-buying binge.

The July 3 peak in oil and subsequent drop of more than $20 a barrel has injected life into what had been a stock market in rapid decline, raising hopes that the worst of the bear market has passed.

The drop in oil prices is welcomed by consumers and U.S. companies weighed down by the economic fallout from the housing bust and credit crunch. Lower oil prices have also lessened fears that inflation would spiral out of control.

Stocks began rallying as Wall Street became convinced that the huge oil run-up — oil was up 51% this year at its $145.29 record close — was faltering.

The Dow Jones industrials bottomed on July 15 at 10,963, almost 23% off the October high and solidly in bear market territory, defined as a drop of 20% or more. But since then, the Dow has been on a tear, rising 670 points, or 6.1%, and renewing hope that this downturn won’t turn into a megabear, such as the 2000-02 killer that sliced stock prices in half.

“Oil is the key driver of the stock market right now,” says Jeffrey Kleintop, chief market strategist at LPL Financial.

Better-than-expected profits, on average, from the nation’s banks and brokerages, and the government’s moves to make sure federally sponsored mortgage companies Freddie Mac and Fannie Mae keep functioning, have also given stocks a boost.

Crude oil, which fell another $3.98 to $124.44 a barrel Wednesday, is now down 14% from its high, approaching its own bear market.

Jim Ritterbusch, president of Ritterbusch and Associates, says a number of factors are driving down the price of crude. One of the biggest, he says, is big investors, such as hedge funds and pension funds, pulling money out of the oil market amid signs of weaker demand in the USA and overseas. The Energy Information Administration said Wednesday that gasoline demand fell 2.4% the past four weeks, a sign higher prices are cutting into usage.

“It is the first time in a couple of years that big institutional investors are selling on perceptions of weaker demand,” says Ritterbusch.

Buyers also stepped away from oil Wednesday when it became clear Hurricane Dolly did not pose a threat to oil platforms. Also, a stronger dollar is making oil, which is priced in dollars, more expensive for those using other currencies.

For the rally to last, “We need oil prices and interest rates to keep going down and house prices to stop going down,” says ITG economist Bob Barbera.

Crude oil prices dropped more than $1.60 per barrel on the New York Mercantile Exchange Wednesday.

The U.S. Energy Information Administration said crude oil and gasoline inventories dropped on the week, but oil prices lowered, an indication that domestic oil demand is waning.

On the exchange, crude oil prices fell $1.61 Wednesday to $122.21 per barrel. Heating oil prices rose 0.0055 cents in late trading to $3.5513 per gallon. Reformulated blendstock gasoline prices fell 0.0076 cents to $3.1875 per gallon. Natural gas prices rose 0.207 cents to $12.428 per million British thermal units.

At the pump, the national average price for a gallon of unleaded gasoline reached $3.983, up from Tuesday’s price of $3.978, AAA said.
(Source: UPI )

Live Crude Oil charts here

There was a Terrible Accident near IOI yesterday (at the underpass).

PETALING JAYA: A trailer, believed to have gone out of control, smashed into 13 vehicles at a junction here, killing a 64-year-old man and seriously injuring four others.

In the 1.45pm incident yesterday, the trailer heading for Puchong Jaya from Kinrara was said to have lost control and rammed into a traffic light before ploughing into seven cars, a lorry and five motorcycles from the opposite direction.

The accident caused cars and motorcycles to be dragged almost 50m.

A Myanmar national, U Kwan Lin, 64, was killed when the car he was driving was pinned under the trailer.

Kwan Lin died at the scene. The four who seriously injured were all motorcyclists.

A survivor, who only wanted to be known as Yap, 27, said he heard a loud crash and felt a strong impact, before his car was flung forward.

“There were about 20 vehicles waiting at the traffic light when we were hit by the trailer,” he said.

Police were forced to close the roads leading to the junction, which caused a three-hour traffic jam.

A police spokesman said it took fire department personnel 30 minutes to extricate the body from the wreckage.

“Initial investigations show that the trailer was speeding and lost control before reaching the junction,” he said.

He said the trailer’s driver, who was not injured in the accident, has been detained to assist in investigations.

He added that the injured, including a policeman, were taken to the Putrajaya and Serdang hospitals.

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My friend ask me for the nearest TMpoint in Puchong and I told him there was one near the IOI Sales office in Bandar Puteri. When he got there, they did not offer line disconnection service. Then I found out that there is a new branch in front of IOI mall (near HSBC Puchong). I also noticed that its pretty TMNET listed the Puchong branch under the PJ url. haha

No. 12 & 13
Jalan Kenari 5
Bandar Puchong Jaya
47100 Puchong
Selangor
tel: 03-8071 1906

MONDAY - FRIDAY
8.30am - 5.30pm
CLOSE ON SATURDAY
& SUNDAY

Residents of Taman Wawasan in Pusat Bandar Puchong, Selangor, are bewildered by the sudden change of postcode number in their area.

They claimed that the change in the postcode was made three weeks ago but they were not informed about it.
Puzzling: Kok (third from right) and the Taman Wawasan Puchong residents pointing at the road sign bearing the change in the postcode.

According to Pusat Bandar Puchong Residents Association president Awies Ung, for the last 10 years they have been staying there, the postcode has always been 47100 but the number is now changed to 47160.

“Many residents have complained that the change is very troublesome and inconvenient for them as they have to call up banks and mobile phone companies to update their addresses.

“They are afraid that some letters and bank statements would be delayed or would not reach them,” Ung said.

Ung and several residents have sought the assistance of Selangor senior state executive councillor and Kinrara assemblyman Teresa Kok to resolve the matter.

Teresa believed that the sudden change would make things messy for at least the next few years.

Besides Taman Wawasan, it is said that the postcode changes have also been made in other areas in Puchong.

A Chinese daily has reported recently that a spokesman of the Subang Jaya post office, which oversees the Puchong area, had explained that the change was necessary due to the increasing number of residential estates and the fast development taking place in the booming Puchong township.

Ung said that the new codes should be assigned to the new housing areas and not at the established residential estates.

“The old postcode number is also stated in our identity card addresses, and it will be a hassle for us to change them at the registration department,” he said.

Teresa said she would write to the top management of Pos Malaysia to ask for explanation on the matter.

“Pos Malaysia should reveal on why such changes are being made. I hope its management will explain things to me,” she said.

According to a statement issued by Pos Malaysia, the company has rearranged the postcodes in Puchong under 10 delivery zones.

The company apologised to the residents for the inconvenience cause, saying that the change was necessary.

“Pos Malaysia is now handling a double number of letters in Puchong compared to previously. The postcode change was a measure to make sorting and delivery of letters easier,” it said.

Pos Malaysia has assured the residents that they do not have to worry about missing letters due to the postcode changes.

“Our trained postmen will deliver the letters according to the addresses stated on the envelopes. Senders should include the receivers’ names, unit numbers or block numbers as well as the names of roads and residential areas clearly,” the company statement said.

The company has also advised the residents to inform related government departments, banks, companies or other individuals to update their addresses.

Pos Malaysia said that should residents have any enquiries, they could contact its customer service department at 1300-300-300 during office hours, except the first Saturday of the month.

Oil futures shot above $140 Thursday after OPEC’s president said crude prices could rise well above $150 a barrel this year and Libya said it may cut oil production. The advance raised the likelihood that gasoline prices would also extend their march higher, and that prices of goods and services throughout the economy would also keep rising.

Light, sweet crude crossed the $140 level minutes before the New York Mercantile Exchange closed Thursday, then retreated slightly to settle up $5.09 at a record $139.64. In after-hours electronic trading, prices rose as high as a record $140.39.

Oil’s latest milestone came as Chakib Khelil, president of the Organization of the Petroleum Exporting Countries, said he believes oil prices could rise to between $150 and $170 a barrel this summer. Khelil also said prices will decline later in the year, and aren’t likely to reach $200 a barrel.

Khelil joined a long list of forecasters who have made bold oil price predictions this year. Each new forecast — such as Goldman Sachs’ recent prediction that prices could rise as high as $200 — causes a jump in prices as speculative buyers are drawn into the market.

Meanwhile, the head of Libya’s national oil company said the country may cut crude production because the oil market is well supplied, according to news reports.

“Shokri Ghanem, the nation’s top oil official, declined to say when a decision would be made on whether to lower production, or give any indication of the size of the cut under consideration,” said Addison Armstrong, director of market research at Tradition Energy in Stamford, Conn., in a research note.

Oil’s move above $140 a barrel was the first for what’s known as a front-month crude contract, or the contract with the earliest expiration date. But it was not the August contract’s first foray above $140 — August crude futures rose as high as $140.42 a barrel while July futures were still traded as the front-month crude contract. Many other later contracts have also traded above $140.

The previous trading record for a front-month contract was $139.89, set by the July contract on June 16.

The rising price of oil — and the accompanying surge in gasoline prices to a national average above $4 a gallon — has contributed greatly to the growing uneasiness about the economy across the U.S. Consumers forced to pay more for gas and for food and anything else that needs to be transported have been cutting back their spending on non-essentials, and the fear in many quarters is that they will continue to curb their outlays.

IF there was an award for the area with the most number of stalled housing projects in Selangor, Puchong would easily win the dubious honour.

Puchong is littered with stalled or abandoned projects, creating an eyesore for an otherwise booming beautiful township.
Overgrown: Lalang has taken root at Lestari Permai Phase 1A.

Decaying abandoned buildings, unsightly hoardings and idle infrastructure contribute to the degradation of Puchong.

The projects at Lestari Permai, Putra Perdana, Lestari Perdana, Lestari Puchong and Saujana Puchong, to name a few, have been labelled as problematic because construction works ground to a halt a few years ago. Works were then 55% to 90% complete.

Thousands of house buyers are left with nothing but an agonising wait and mounting debts.

In the case of Lestari Permai Phase 1A, the project was nearing completion when work stalled in 2005. The site, within view of the Kuala Lumpur-Putrajaya Highway, has been abandoned since and is overgrown with lalang. Signs of decay are setting in.

StarMetro met with house buyer Nor Azmir Ismail at the site on Wednesday and he said all that was left was the external structure.

“My house is 90% complete and all it needs is water, electricity and an access road. I signed my sales and purchase (S&P) agreement in 2003 and was assured of delivery within 24 months,” he said.

Azmir bought his single-storey terrace house with a RM130,000 bank loan.
Problematic: The interiors are also getting damaged due to the abandonment.

“It has been a frustrating wait but what is more disheartening is that house buyers are still being kept in the dark. The developer Europlus Construction Sdn Bhd, a subsidiary of Talam Corporation Bhd, has not answered our letters,” he said.

Azmir said that following numerous complaints to the Housing and Local Government Ministry, a meeting was arranged with deputy minister Datuk Hamzah Zainuddin and a few house buyers recently.

“Hamzah has assured us the matter would be settled as soon as possible. We can only wait for the outcome,” Azmir said.

(more…)

I am selling off my brand new iPod Touch 32GB..Its only 2 weeks old and I want cash to buy a new 32 inch LCD TV. So leave me a message on this blog if you want it. I am selling it for RM1700 (normal price RM1999).

I will throw in a free screen protector if you buy it from me. -
Echo - Mirrored Screen Protector (Apple iPod touch) . Normal price RM 70.