Works Ministry yet to receive new offer from Maju to buy Plus
The Works Ministry has yet to receive an official proposal from Maju Holdings Sdn Bhd to take over Plus Malaysia Bhd, its minister Baru Bian said today.
"We have not received any proposal officially," he said when asked about Maju Holdings' second attempt to buy the highway company...
The Works Ministry has yet to receive an official proposal from Maju Holdings Sdn Bhd to take over Plus Malaysia Bhd, its minister Baru Bian said today.
"We have not received any proposal officially," he said when asked about Maju Holdings' second attempt to buy the highway company.
On June 29, Prime Minister Dr Mahathir Mohamad was reported as saying that Maju Holdings had put in a fresh proposal for the takeover bid.
Mahathir also said that only Finance Minister Lim Guan Eng stood in the way of the deal.
Putrajaya previously turned down a 2017 offer from Maju Holdings to buy Plus.
It was reported Maju Holdings offered more than RM36 billion to take over Plus Malaysia Bhd back in 2017.
UEM Group Bhd owns 51 percent of Plus and the balance is held by the Employees Provident Fund (EPF).
Financial daily The Edge reported that Maju Holdings had submitted four offers to the government in its new effort to buy Plus.
The company had offered toll rate reduction between 25 percent and 36 percent in return for an extension to the concession period of between 10 years and 30 years.
The Plus concession is slated to end in 2038.
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