THE government has been engaging with shareholders of highway concessionaire PLUS Malaysia Bhd regarding change of ownership, said Khazanah Nasional Bhd today.

The sovereign wealth fund said it had advised the government to this end.

“We have provided advice to the government and have engaged with it to assist in determining policy considerations towards achieving the objectives,” it said in a statement today.

Khazanah said the government had also been talking to shareholders about relieving the government of compensation pressures, as well as respecting the value of the highway concession for existing debt and equity holders.

“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,” it added.

Khazanah said it was aware of several unsolicited offers for the takeover of Plus, but it has not been approached directly.

Khazanah owns 51% of PLUS through subsidiary UEM Group Bhd, while the remaining 49% is owned by the Employees Provident Fund.

According to reports, Finance Minister Lim Guan Eng said the cabinet would discuss the proposed takeover of PLUS and Gamuda Bhd’s four highways in the Klang Valley during its meeting today, with an announcement to be made thereafter. – Bernama, January 15, 2020.