Prime Minister Tun Dr. Mahathir Mohamad at a news conference during the launch of Tenaga Nasional Berhad (TNB)’s Balai Islam Complex in conjunction with TNB’s 70th Anniversary at its Headquarters in Bangsar, Kuala Lumpur. PIX: SYAFIQ AMBAK / MalaysiaGazette / 16 JANUARY 2020 Khazanah PLUS
Prime Minister Tun Dr. Mahathir Mohamad at a news conference during the launch of Tenaga Nasional Berhad (TNB)’s Balai Islam Complex in conjunction with TNB’s 70th Anniversary at its Headquarters in Bangsar, Kuala Lumpur. PIX: SYAFIQ AMBAK / MalaysiaGazette / 16 JANUARY 2020

By Mohd Zaini Samsu Hadi

KUALA LUMPUR – The government has decided not to sell the PLUS Malaysia Berhad highway concession. On the contrary, it will remain to be owned by Khazanah Nasional Bhd (Khazanah) and the Employees Provident Fund (EPF).

Prime Minister Tun Dr Mahathir Mohamad said, it was a unanimous decision by the cabinet after the government scrutinised all bids.

“We have studies all the bids made by the private sector and we decided that the best way is not to sell PLUS to anyone. On the contrary, it will remain with Khazanah and EPF,” he said after officiating the Tenaga Nasional Berhad (TNB) Balai Islam An-Nur Complex today.

According to Dr Mahathir, the government can sell the stakes owned by Khazanah if they are able to identify how to reinvest the money.

Maju Holdings is among the companies which made an offer to the government and said it will reduce its toll rate of up to 36 percent if their proposal to takeover PLUS is approved.

In a statement, the company said that it is also committed to invest about RM5.3 billion including installing streetlights along the highway and other upgrades needed.

Maju Holdings also propose to absorb RM2.7 billion of toll compensation which the government needs to pay PLUS if they takeover the largest highway concessionaire in the country.

Besides Maju Holdings, Widad Widad Business Group Sdn Bhd (WBG) also made an offer to the government. They planned to takeover 31 percent of stakes owned by Khazanah Malaysia Bhd (Khazanah) at cash consideration of RM1.5 billion, or 100 percent of the stakes owned by Khazanah and EPF at cash consideration of RM3 billion.

Other than Widad and Maju Holdings, RRJ Capital and businessman Tan Sri Halim Saad through Karongsa Private Capital Sdn Bhd also made a bidding to the government.- MalaysiaGazette

Read More:

PLUS takeover: Will be announced soon

Buying over PLUS does not stop toll collection – Mahathir

Widad Business Group offers to buy PLUS

PLUS takeover: There are better proposals, more beneficial to the people

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