Ministry: Maju Holding’s offer to take over PLUS still under evaluation

(Bernama) – The official proposal from Maju Holdings Sdn Bhd to take over PLUS Malaysia Bhd, Malaysia’s largest highway concessionaire, is still in the process of evaluation, says the Works Ministry.

In a statement today, the ministry said the proposed offer, which involves a significant reduction in toll rates, had appeared attractive.

“The minister (Baru Bian) would like to state that the ministry had received the proposal by Maju Holdings and is still in the process of evaluating its merits and feasibility.

“The ministry will be tabling in Cabinet ‘The Way Forward for Toll Roads in Malaysia’ early next month, which will be based on the final report prepared by an independent consultant in January 2019,” the ministry said.

The statement also noted that only after a Cabinet decision is made would the government be able to seriously consider all proposals on the takeover of tolled highways in the country, including the Maju Holdings-PLUS offer.

On August 22, Prime Minister Tun Dr Mahathir Mohamad said that the government has yet to make a decision on the Maju Holdings-PLUS proposal and affirmed that highway toll collection will continue even if concessionaire PLUS is taken over by any other entity.

Maju Holdings, controlled by businessman Tan Sri Abu Sahid Mohamed, reportedly made an offer of RM36 billion in 2017 to take over PLUS.