Nazri lauds Maju Hold­ings’ toll of­fer if it ac­quires PLUS

The Star Malaysia - - Nation -

KUALA LUMPUR: Datuk Seri Nazri Aziz has given his thumbs up to the of­fer made by Maju Hold­ings that it will not raise toll rates for 20 years if it is suc­cess­ful in ac­quir­ing PLUShigh­way.

De­scrib­ing it as ‘durian run­tuh’ (huge wind­fall), the Tourism and Cul­ture Min­is­ter said the Gov­ern­ment found it dif­fi­cult to pay com­pen­sa­tion to high­way con­ces­sion­aires fol­low­ing its de­ci­sion not to raise toll rates.

“Ev­ery time the Gov­ern­ment dis­cusses toll hikes, there will be a big prob­lem. We will have to think about the rakyat. With a pro­posal like this, the Gov­ern­ment would be able to save al­most RM1­bil and use it to ben­e­fit the peo­ple,” he said at the min­istry’s pro­gramme in Muz­ium Ne­gara, yes­ter­day.

Nazri was asked to re­spond to the RM36­bil pro­posal made by Maju Hold­ings that pledged it will not raise toll fares for 20 years if it man­ages to take over PLUS high­way.

The two share­hold­ers of PLUS Malaysia Bhd are the Em­ploy­ees Prov­i­dent Fund (EPF) and the UEM Group Ber­had, with UEM Group Bhd own­ing a to­tal of a 51% stake in PLUS while EPF holds the rest of the stake.

It was re­ported that Maju Hold­ings ex­ec­u­tive chair­man Tan Sri Abu Sahid Mo­hamed had pre­vi­ously made pub­lic his in­ten­tion to ac­quire PLUS.

Last Wed­nes­day, the two share­hold­ers of PLUS Malaysia Bhd re­it­er­ated that they have no in­ten­tion to sell their stakes in the coun­try’s largest high­way con­ces­sion­aire.

Nazri said the of­fer would also ben­e­fit the pub­lic as the of­fer showed that Maju Hold­ings in­tends to un­der­take im­prove­ments to the in­fra­struc­tures such as light­ing up the en­tire high­way.

He also hit out at for­mer prime min­is­ter Tun Dr Ma­hathir Mo­hamad, say­ing that such deals with con­ces­sion­aires were made un­der his administration then.

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