Khazanah, EPF not agreeable to Maju Holdings taking over PLUS: Lim

11 Jul 2019 / 17:22 H.

KUALA LUMPUR: The two main shareholders of PLUS Malaysia Bhd (PLUS), namely Khazanah Nasional Bhd and the Employees Provident Fund (EPF), are not agreeable to the takeover of the company by Maju Holdings Sdn Bhd (Maju Holdings).

Finance Minister Lim Guan Eng said the views of the key stakeholders had to be taken into account in determining any takeover offer.

“The key shareholders here are Khazanah and the EPF and at the moment, they do not agree.

“An early decision has to be guided by the views and decisions of the EPF and Khazanah. This is the decision for now, but we will be surely guided by what the Prime Minister Tun Dr Mahathir Mohamad decides,” he told reporters at the Parliament lobby here today.

Lim said this in response to a local media report that alleged he was the “obstacle” to Maju Holdings taking over PLUS, Malaysia’s largest highway concessionaire.

However, the minister said, he would be meeting with Maju Holdings to further discuss the matter.

“I will meet with Maju Holdings, as there is reportedly a new offer, that differs from the original,” he added.

Maju Holdings, controlled by businessman Tan Sri Abu Sahid Mohamed, had made an offer of RM36 billion in 2017 for the takeover of PLUS.

The Finance Ministry had then stated the government had no plans to give up its stake in PLUS to Maju Holdings.

It said it viewed seriously the financial position as well as ability of a private entity such as Maju Holdings to finance the corporate takeover proposal.

Meanwhile, Works Minister Baru Bian when met, confirmed that the government had received an official offer from Maju Holdings for the takeover of PLUS, two weeks ago.

He said the offer was still with the ministry for the purpose of being evaluated before the documentation process is undertaken.

“To me, this is a business transaction. We will (make a decision) after studying it, and only then make a recommendation on the matter (to the Cabinet),” he added. — Bernama

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