KUALA LUMPUR (Jan 30): SMTrack Bhd has denied claims that it is involved in the radio frequency identification (RFID) toll payment system project on the country’s highways.
The company said the claims circulating on the internet would “destroy the reputation of the listed entity and the integrity of Malaysia’s capital market, and confuse the public on the benefits of RFID technology”.
“We plead with the government and enforcers to take action against parties responsible for such lies. The group will not hesitate to take legal action against these baseless accusations to protect the integrity of our company,” SMTrack deputy executive chairman Azmi Osman said in a statement.
Toll transactions using RFID for private light vehicles were extended to the North-South Expressway on Jan 15. Several toll plazas in the Klang Valley were reported to have experienced traffic congestion when the RFID system failed to function smoothly.
Prime Minister Datuk Seri Ismail Sabri Yaakob subsequently announced that road users must be given the choice of using RFID or the other existing payment systems, namely Touch 'n Go (TNG) and SmartTAG.
Azmi, in his statement, said that as a RFID specialist, SMTrack believes it can help contribute to the RFID toll payment system but “at this juncture, we are not involved in the project.”
Azmi added that the recent appointment of Datuk Saiful Nizam Mohd Yusoff as an independent non-executive director of the company is not due to his political connections. Saiful is the son-in-law of Umno president Datuk Seri Ahmad Zahid Hamidi.
“It has been done based solely on his merits and experience. The group would not discriminate against any individuals based on their background and would take extra measures to disclose any potential conflict of interest if there were any. As an independent director, Saiful is not involved in the day-to-day business decisions and operations,” added Azmi.
On the recent emergence of property tycoon Tan Sri Lee Kim Yew as a substantial shareholder of the company, Azmi said: “SMTrack is a public-listed entity, and any investor who has confidence in the company could invest in the company via the open market.
“We are proud that Tan Sri Lee sees the potential within the group and has taken the decision based on his own investment capacity. However, we would like to reiterate that Tan Sri Lee is not part of the group’s strategic and operation team and is not involved in any project lobbying for the group,” he said.