MAJU Holdings Sdn Bhd’s bid to acquire the North-South Expressway Project (PLUS) through the purchase of UEM Group Bhd and Employees’ Provident Fund (EPF) shares estimated at RM36 billion, should be given due consideration as it will reduce the federal government’s burden, said Tourism Minister Mohamed Nazri Abdul Aziz.
Nazri who is also an Umno Supreme Council member, said the federal government had to fork out compensation of about RM900 million to avoid toll increases.
“We have to crack our heads every time we (the cabinet members) discuss on raising the toll rate. If we do not allow the highway concessionaires to increase toll, the federal government will have to pay RM900 million.
“As such, I fully support such proposal because we will not have to pay the RM900 million and almost RM1 billion could be saved for the benefit of the public,” he said after launching the Keretapi Sarong 2017 #SayangMalaysia programme here today.
Recently, Maju Holdings Group executive chairman Abu Sahid Mohamad expressed his intention to acquire a 51% stake held by UEM Group Bhd and EPF’s 49% share in PLUS Malaysia Bhd, thereby taking over the country’s major highways as well as several other highway operators, such as Expressway Lingkaran Tengah Sdn Bhd (ELITE) and Linkedua Malaysia Bhd (LINKEDUA).
The two largest shareholders of PLUS in a joint statement recently said they were in the process of studying the proposal, which was submitted by Evercore Asia Ltd on behalf of Maju Holdings, but refused to elaborate further. – Bernama, September 16, 2017.
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