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EPF not selling stake in PLUS for now

 | August 9, 2017

EPF CEO says PLUS has been doing well and there is no reason to sell its 49% stake, and that there has been no offer from anyone to buy it anyway.

Shahril-Ridza-epf-plusKUALA LUMPUR: No one has yet offered to buy the 49% stake that the Employees Provident Fund (EPF) has in highway operator PLUS Highway Bhd.

EPF chief executive officer Shahril Ridza Ridzuan said there was also no reason for the EPF to dispose of these shares.

The Edge had earlier reported that tycoon Abu Sahid Mohamad via his flagship Maju Holdings Sdn Bhd wanted to buy the entire stake in PLUS from EPF and UEM Group Bhd, a wholly-owned unit of Khazanah Nasional Bhd.

Abu Sahid was reported to have made overtures to the EPF regarding this.

EPF increased its stake in PLUS to 49% in 2011, from 12.03% earlier. UEM currently holds the other 51%.

The Edge quoted Shahril as saying: “We are very happy with PLUS. It has been performing well as an investment.”

He added that at this point in time, “there is no particular reason why EPF wants to think about disposing” its stake in PLUS.

Shahril was speaking to the media at the signing ceremony of a memorandum of understanding between the EPF and International Training Centre of the International Labour Organisation to establish a training centre on social protection policymaking and programmes for local and regional agencies here.

Shahril said: “There has been a big investment by us and Khazanah into expanding the highway network, especially in the Klang Valley.”

He indicated that both parties might retain their shares in the highway operator in the long term, according to the report.


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