Report: Proposed highway buyouts on hold for review

The Finance Ministry’s proposal to acquire highway toll concessions for RM6.2 billion has been paused for a re-examination of the offered price, according to government sources.

(MMO) – The Straits Times (ST) reported them as saying that some in the federal government including Cabinet members believed the offer was excessive.

Others argued that the ministry’s projected revenue, with the move towards a congestion charge, may not allow for the acquisition to be self-funded as currently presented.

“The whole matter (Gamuda proposal) is on hold pending a full review,” the ST quoted an unnamed minister as saying.

The Singaporean newspaper further reported that the matter was causing friction within the coalition government.

Among others, the same minister said Finance Minister Lim Guan Eng had presented the plan to the public and made offers for the concessionaires linked to Gamuda Bhd without the agreement of the Cabinet.

Read more here