Maju bid to take over PLUS expressway still on the table, says Baru

Maju Holdings Sdn Bhd made a RM36 billion bid to take over PLUS in 2017.

GEORGE TOWN: Works Minister Baru Bian today said an offer by a property and infrastructure magnate to take over the North-South Expressway (PLUS) is still on the table despite earlier reports claiming otherwise.

Finance Minister Lim Guan Eng had said that Maju Holdings Sdn Bhd’s proposed takeover of PLUS had been rejected because of concerns by sovereign wealth fund Khazanah Nasional Bhd and the Employees Provident Fund.

It was reported that Maju had placed a RM36 billion bid to takeover PLUS in 2017.

However, Lim said recently he would meet Maju again over a new offer and that the decision ultimately was in the hands of the prime minister.

Baru had also said Maju’s proposal was yet to be received.

Speaking at the sidelines of the Highway Concession Conference here today, Baru said Maju was the only company that had sent in a proposal.

He said it would be brought to the Cabinet for deliberation, adding that no time frame had been set to look into the proposal.

“We are also conducting holistic research to see the direction of toll highways in the country,” he said. .

It was reported that Maju group executive chairman Abu Sahid Mohamed had submitted a RM36 billion bid for PLUS in 2017.