Khazanah assures professionalism in evaluating PLUS bids

Khazanah says there have been several unsolicited offers for the proposed takeover of highway concessionaire PLUS Malaysia Bhd.

PETALING JAYA: Khazanah Nasional Bhd says Putrajaya has been “thoroughly professional” in evaluating bids for the proposed takeover of highway concessionaire PLUS Malaysia Bhd.

In a statement, Khazanah said there had been several unsolicited offers that they were aware of, although the parties concerned did not engage with them directly.

Khazanah said it had also provided its views and advice to the government on the matter.

“Khazanah would like to emphasise again that throughout the entire engagement process, the government has been thoroughly professional and has upheld the appropriate governance in striving for the best resolution to the matter.”

They also said that the government had been engaging PLUS shareholders to reduce the “burden of tolls on highway users” as well as relieving the government of “compensation pressures”.

Khazanah, via UEM Group Bhd, owns 51% of PLUS while the Employees Provident Fund (EPF) holds the remaining 49%.

On Monday, Finance Minister Lim Guan Eng said that the Cabinet would be discussing the proposed takeover of PLUS and the four Gamuda-related highways today.

An announcement on the matter is expected to be made after the meeting.

Yesterday, The Edge reported Khazanah managing director Shahril Ridza Ridzuan as saying that the sovereign fund and EPF never put PLUS up for sale.

Shahril also said that formal engagement with Khazanah and EPF had not started.

He said should the government decide to let go of PLUS, the next step was to conduct a formal engagement with the current shareholders.