OCTOBER 14 — The news about private sector groups proposing to the government to purchase and take over PLUS has not stopped despite the clear statement made by the Managing Director/Chief Executive Officer of Khazanah, Datuk Shahril Ridza Ridzuan that the national wealth fund has no intention...
Monday, 14 Oct 2019 11:51 AM MYT
Khazanah started operations by taking over only a few MoF Inc companies initially. The biggest of these corporations were TNB and Telekom. They accounted for a big share of the market capitalisation under the KLSE. A few years later, Khazanah acquired the Rinong/UEM Group comprising several subsidiaries with PLUS as its core asset. It was acquired as a rescue operation to save it from collapsing in the awake of the East Asia financial crisis 1997/98.
PLUS is the largest and oldest toll operator in the country and is among the top ten toll highway companies in the world. In South-east Asia, PLUS is considered the most experienced operator in the business. It’s a GLC contributing to bumiputera employment and business opportunities. There is nothing in the proposals submitted by the various private sector bidders to show that they have better ideas to develop PLUS compared to what is already being implemented under its business plan.
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