$AMTEL / 7031 (AMTEL HOLDINGS BERHAD) $EKOVEST / 8877 (EKOVEST BERHAD) - Collaboration to roll out MLFF

This was an article released about a month+ back on the Edge. I couldn't find it tagged to either company, so I thought to post it and tag them here. You can download the article to read it yourself. Here I've summarised some key points, but feel free to download and read the whole article yourself.

1. Amtel had been working with Ekovest on their POC (proof of concept) since late 2022.
2. The first highway to test out MLFF concept is Besraya (owned by $IJM / 3336 (IJM CORPORATION BERHAD) , but it is not known who is the tech provider there.) They expect the pilot project to be implemented by end of October.
3. 2 key components for the implementation of MLFF : A camera-based system with number plate recognition, and a tag-based system for toll fare reduction.
4. Amtel is also in talks with 2 other highway concessionaires to run the MLFF pilot project.
5. Gov had allocated RM 3.46bil for MLFF, which it hopes to implement as soon as 2025.
6. For a start, we can get open payment systems at tolls, thus breaking the monopoly of T&G.
7. At least 11 highways are expected to implement this open payment system by mid-september.

Financially, it is not clear at this juncture how much Amtel would benefit, if at all,, whether a one off implementation fee or a long term share of profits or recurring servicing contracts. Just following up on the news.