WCE Sees 83% Increment In Traffic & 128% Increment In Toll Collection

WCE Holdings Berhad (WCEHB) announced significant operational progress for the group's second quarter which ended on Sept 30, 2024.

The West Coast Expressway (WCE) reached a major milestone with the inauguration of Section 1 (Banting to SKVE) on Aug 31, 2024, followed by toll collection on Sept 30, 2024.

Along with the recent inauguration of Sections 6 and 11, these advancements have dramatically increased average daily traffic volume by 83% compared to the previous fiscal year, boosting toll income by 128% from RM13.0 million to RM29.8 million.

Financially, WCEHB's operating performance has improved substantially. The Group recorded an EBITDA growth of 259% to RM38.2 million, reflecting strong profitability at the operating level.

Although the Group reported a loss before tax of RM19.8 million, this is a significant reduction from the RM29.9 million loss in the same quarter last year. The losses are mostly attributable to increased interest expenses for finished parts of the motorway.

The 233KM WCE Project, which spans from Banting to Taiping, is nearing completion. Seven of eleven sections are presently operating, including the fully constructed Perak alignment.

The second section, which connects SKVE to KESAS, has been completed and undergoing inspection; and should open soon. The latter portions, sections 3, 4, and 7, are still under construction but are essential to completing the alignment as a whole.

Looking ahead, while early toll operations are impacted by interest costs, WCEHB anticipates improved financial performance as more sections open and traffic volumes stabilise.