Guan Eng: EPF, Khazanah oppose PLUS acquisition by Maju

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KUALA LUMPUR (July 11): The Ministry of Finance (MoF) has made a preliminary decision to oppose the takeover of highway operator PLUS Malaysia Bhd by Maju Holdings Sdn Bhd after considering the views from PLUS' major shareholders Khazanah Nasional Bhd and the Employees Provident Fund (EPF).

Speaking to reporters at the Parliament lobby here today, Finance Minister Lim Guan Eng, however, said he will have a meeting with Maju Holdings' management, to be briefed on the latter's new acquisition offer.

"We received many proposals from many parties. When we make a preliminary decision, it was based on the views from the major shareholders, which are Khazanah and EPF in this case. At this juncture, Khazanah and EPF are not agreeable to the takeover. But definitely, the final decision will still be guided by the prime minister.

"So this is a preliminary view by the MoF, but I will still meet with Maju, because apparently they will be having a new offer, different from the original one," he said.

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