Dr M: we will study all offers for PLUS Malaysia takeover

KUALA LUMPUR: The government will study any proposal to acquire PLUS Malaysia Bhd, says Prime Minister Tun Dr Mahathir Mohamad.

"Any offers by anyone will be studied by the government. If it's suitable with our demands, we will entertain them," he said to reporters during a press conference in Parliament lobby on Monday (Oct 7).

Dr Mahathir was responding to Malaysian-led Hong Kong-based private equity firm RRJ Capital, which was reported to have laid out a revised proposal to the government to acquire PLUS Malaysia Bhd for RM3.5bil.

The firm seeks to offer toll discounts of up to 30% based on new cars' price tag as well as demolishing toll booths to alleviate traffic congestion.

Asked if the sale of PLUS Malaysia Bhd could affect the government's coffers, Dr Mahathir said a task force has been formed to look into the matter.

"There is a task force to monitor the issue of debts and its repayment. They will give their suggestions to reduce debts."

Last September, Dr Mahathir said Khazanah Nasional Bhd would sell assets which were "not useful" to pay off its debts.

However, Khazanah Nasional Bhd managing director Datuk Shahril Riza Ridzuan said on Oct 6 that it had no intention to sell its strategic assets to any party

He added that the group had rejected all takeover offers for PLUS Malaysia Bhd.

PLUS Malaysia is 51% owned by engineering infrastructure and services firm UEM Group Bhd, which is a wholly-owned subsidiary of Khazanah. The Employees Provident Fund (EPF) owns the remainder.

Khazanah had previously said that it was up to the government to decide on any such proposals.