PETALING JAYA: The Government is still in the process of evaluating the merits and feasibility of a proposal by Maju Holdings to take over PLUS or the North-South Expressway (NSE), says Baru Bian (pic).
The Works Minister said the proposal, which involves a significant reduction in toll rates, appeared attractive but the Government had yet to make a decision on this or any other proposals concerning the take-over any tolled highways.
However, he said the ministry will be a report on "The Way Forward for Toll Roads in Malaysia" in Cabinet early next month, which will be based on the final report prepared by an independent consultant in January of this year.
“Only after a Cabinet decision is made would the Government be able to seriously consider all proposals on the taking over of tolled highways in the country, including the Maju Holdings-PLUS offer, ” he said in a statement Monday (Aug 26).
PLUS is the national highway spanning 772km, making it the longest expressway in Malaysia. It was built in the late 1980s.
Since 2014, there have been a number of bids to take over the highway.
PLUS is currently owned by Khazanah Nasional Bhd via UEM Group Bhd and the Employees Provident Fund (EPF).
Khazanah has a 51% stake in PLUS, while the EPF owns the remaining 49%.
PLUS is the largest highway concessionaire in the country, operating eight expressways under five concessions.
Its highways are the 772km NSE, which runs from Bukit Kayu Hitam in Kedah near the Malaysia-Thai border to Johor Baru; the New Klang Valley Expressway; Federal Highway Route 2; the Seremban-Port Dickson Highway; the NSE Central Link; the Malaysia-Singapore Second Link; Lebuhraya Butterworth-Kulim and the Penang Bridge.
Its concession is expiring in December 2038.