Baru Bian: Govt has received Maju's official PLUS takeover proposal

Baru Bian: Govt has received Maju's official PLUS takeover proposal
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KUALA LUMPUR (July 11): The government had last week received an official proposal from Maju Holdings Sdn Bhd to take over highway operator PLUS Malaysia Bhd, according to Works Minister Baru Bian today.

"Yes, we received an official proposal from Maju to take over PLUS last week," Bian told reporters at the Parliament lobby here today.

"Now we are still at the ministerial level, we will study the proposal, and make a recommendation to the Cabinet. To us, this is a business transaction. Our role is only to make recommendations on this subject matter. At this juncture, this is the only proposal we received," he said.

The Ministry of Finance (MoF) has, however, made a preliminary decision to oppose the takeover of PLUS by Maju Holdings after considering the views from PLUS' major shareholders Khazanah Nasional Bhd and the Employees Provident Fund (EPF).

Earlier today, theedgemarkets.com, quoting Finance Minister Lim Guan Eng, reported that Khazanah and the EPF are against Maju Holdings' proposal to buy PLUS.

It was reported that Lim told reporters at the Parliament lobby here today he will have a meeting with Maju Holdings' management, to be briefed on the latter's new acquisition offer.

Read also: Guan Eng: EPF, Khazanah oppose PLUS acquisition by Maju