THE cabinet will decide on the various takeover bids for toll highways at its next meeting, said Finance Minister Lim Guan Eng.

This includes the offer for Khazanah Nasional’s controlling stake in the PLUS highway, and the  takeover of four other highways from Gamuda.

“The decision is likely to be made next week,” he told reporters today at a press conference after the closing ceremony of the Putrajaya LIFT programme.

Lim said the government had to decide on the matter swiftly due to the freeze on toll rate hikes.

“Or else, the clock will keep on ticking, and compensation keep on mounting,” he said.

On PLUS, Lim said any decision must be a triple win – for the government, owners Khazanah and the Employees Provident Fund, as well as the people.

He said Khazanah and EPF must be able to rake in a fair value for their investments, otherwise, it would affect their portfolio investments, which will in turn impact ordinary Malaysians.

“For the country we must not be subjected to an increase in our debt burden, in accordance to the principle that there should be no privatisation of profits and socialisation of losses,” he added.

He added that a joint ministry proposal involving the Finance, Economics Affairs and Works Ministries was presented to the cabinet along with other options.

“So, let the cabinet decide,” he said.

Lim added the 18% discount on the PLUS Highway, which was announced in Budget 2020, could be implemented following the takeover.

He said moving the matter forward would be an important first step for Pakatan Harapan to show progress on its election manifesto promise.

Four private sector players have offered to take over PLUS. They are tycoon Halim Saad and his partner, Wong Gian Kui; Widad Group Bhd; Maju Holdings Sdn Bhd; and, RRJ Capital Bhd. – December 30, 2019.