No official proposal from Maju on PLUS takeover bid, says Baru

Maju Holdings had reportedly submitted a fresh proposal to take over PLUS Malaysia.

KUALA LUMPUR: Works Minister Baru Bian today said his ministry has yet to receive an official proposal from Maju Holdings Sdn Bhd on taking over PLUS Malaysia Bhd.

“We have not received any suggestions or official proposal,” he told reporters at the Dewan Rakyat lobby.

It was reported last month that Maju Holdings had submitted a fresh proposal to take over PLUS Malaysia.

Works Minister Baru Bian.

The Edge financial daily said Prime Minister Dr Mahathir Mohamad had confirmed speculation that Abu Sahid Mohamed, who is the executive chairman of Maju Holdings, had put in a bid.

 

Mahathir said Maju Holdings was the only one to submit such a proposal.

According to the report, the only one standing in the way of Maju Holdings and Abu Sahid was Finance Minister Lim Guan Eng, whom it said is opposed to the takeover.

It said the reasons for Lim’s objections were unknown.

Maju Holdings, which had always expressed interest in taking over PLUS, had put in a bid in mid-2017.