EPF: NO PLAN TO SELL STAKE TO MAJU
Highway concessionaire has been yielding good returns, says retirement fund
MAJU Holdings executive chairman Tan Sri Abu Sahid Mohamad’s “optimism” of taking over PLUS Malaysia Bhd, the country’s largest highway concessionaire, has received a major blow.
The Employees Provident Fund (EPF) yesterday said it had no intention of selling its 49 per cent stake in PLUS and that it had not received any offers from Maju Holdings.
EPF chief executive officer Datuk Shahril Ridza Ridzuan said there was only some unsubstantiated media reports that several parties were keen to buy PLUS.
“But, to date, we have not received any kind of offers or interests from anyone,” he said after the signing ceremony between EPF and the International Training Centre-International Labour Organisation (ITC-ILO), here, yesterday.
Abu Sahid reportedly said he was confident of pulling off a deal to buy PLUS stakes from UEM Group Bhd and EPF, a deal that could cost RM30 billion or more, as he had “everything ready”.
He was also quoted to have received blessings at the highest level over his move and that he had already made overtures to meet Khazanah Nasional Bhd managing director Tan Sri Azman Mokhtar to discuss the possible acquisition.
Khazanah’s wholly-owned UEM Group holds the remaining 51 per cent of PLUS.
Shahril said PLUS has been yielding good returns for the pension fund.
“PLUS has been performing well as an investment. Certainly from our point of view, PLUS has continuously delivered fantastic service to all users and it has been a big investment by us and Khazanah’s shareholders into expanding the network, especially the highway in the Klang Valley,” he said.
Shahril said at this point in time, “there is no particular reason why we want to think about disposing it”.
Meanwhile, EPF’s partnership with ITC-ILO will pave the way for the joint development and implementation of future training activities in Malaysia and other Southeast Asian countries.
EPF chairman Tan Sri Samsudin Osman said EPF will be providing world-class learning infrastructure via the EPF Learning Campus (ELC).
“The partnership, which would allow us to tap into the reservoir of global expertise, is only the first of many more initiatives to come in furthering EPF’s agenda in addressing the needs of an aging society as well as the social security challenges,” he said.
ITC-ILO senior programme officer of social protection, governance and tripartism, Charles Crevier said Malaysia has been making great strides in advancing the social protection agenda, while EPF has been consistent in advocating for a more comprehensive social security system.