From FMT:
Maju bid to take over PLUS expressway still on the table, says Baru
GEORGE TOWN: Works Minister Baru Bian today said an offer by a property and infrastructure magnate to take over the North-South Expressway (PLUS) is still on the table despite earlier reports claiming otherwise.
Finance Minister Lim Guan Eng had said that Maju Holdings Sdn Bhd’s proposed takeover of PLUS had been rejected because of concerns by sovereign wealth fund Khazanah Nasional Bhd and the Employees Provident Fund.
It was reported that Maju had placed a RM36 billion bid to takeover PLUS in 2017.
However, Lim said recently he would meet Maju again over a new offer and that the decision ultimately was in the hands of the prime minister.
Baru had also said Maju’s proposal was yet to be received.
Speaking at the sidelines of the Highway Concession Conference here today, Baru said Maju was the only company that had sent in a proposal.
He said it would be brought to the Cabinet for deliberation, adding that no time frame had been set to look into the proposal.
“We are also conducting holistic research to see the direction of toll highways in the country,” he said. .
It was reported that Maju group executive chairman Abu Sahid Mohamed had submitted a RM36 billion bid for PLUS in 2017.
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Extracts from Brick in the Wall's Is Abu "Juling" for real?
Known to be a close crony of Tun Dr Mahathir, who did he meant as "the highest level in the country" that gave him the blessing?
The reputation of Abu preceded himself.
Starting out in the crap metal business, he is known to be a protege of the infamous late Tan Sri Eric Chia.
Eric Chia's indiscretions was blamed for the failure of Perwaja Steel.
Abu is the Chairman of Perwaja that had accumulated losses of RM10 billion and a China company had to come in to bailout.
Accusation that he cheated the Tabung Haji then chaired by Mahathir's brother-in-law in the sales of office space at Maju Junction is not forgotten
Starting out in the crap metal business, he is known to be a protege of the infamous late Tan Sri Eric Chia.
Eric Chia's indiscretions was blamed for the failure of Perwaja Steel.
Abu is the Chairman of Perwaja that had accumulated losses of RM10 billion and a China company had to come in to bailout.
Accusation that he cheated the Tabung Haji then chaired by Mahathir's brother-in-law in the sales of office space at Maju Junction is not forgotten
Abu was awarded the MEX highway during Mahathir administration and it came with a substantial financial assistance from government.
He has been trying to sell off MEX. It was reported that UEM is interested. But instead of seller, he turned buyer of UEM's highways.
Abu is reknown for being creative and unusual in his ability to extract more profit than expected. What is he up to?
He has been trying to sell off MEX. It was reported that UEM is interested. But instead of seller, he turned buyer of UEM's highways.
Abu is reknown for being creative and unusual in his ability to extract more profit than expected. What is he up to?
new msia no crony n no corruption la, one can ask lks.
ReplyDeleteWakakakaka…
DeleteWith sopo observer like u, nothing CAN go wrong mah.
Free Enterprise. Willing Buyer, willing Seller.
ReplyDeleteIn this case, so long as the terms benefits the Rakyat and country, who cares whose cronies is allegedly involved.
isn't that what business is all about?
For those who opposed the sale of Plus, give lah valid reasons why, instead of pointing fingers at whose cronies they are.
Is it because the most vehement opposition are now those who have been riding on the Cronyism train to do business previously for so long but currently feel left out and lost their entrepreneurship to do business and to compete?
Wakakakakakakaka