KUALA LUMPUR, Dec 3 — The three ministries involved in the discussions over highway concessionaire PLUS Berhad are set to issue a joint memorandum to the Cabinet on its future direction, said Works Minister Baru Bian.

He said his ministry, the Finance Ministry and Economic Affairs Ministry met to discuss PLUS last week.

"We will meet again in the nearest future, after which the memorandum will be issued and sent to Cabinet. We are aiming for some time mid-this month,” Baru said during the National Technical Profession Day celebration at Menara TM.

He added the memorandum will also likely include the future of highway tolls in Malaysia.

When asked if sovereign wealth fund Khazanah Nasional Berhad participated in the meeting as PLUS’s largest shareholder, the minister said it did not.

"For the time being, the meeting only involved us. But they will be called in later, if need be,” Baru said.

Several offers have been made for the nation’s largest highway toll operator in the past year, including from business tycoons Tan Sri Halim Saad and Datuk Wong Gian Kui, who offered up to RM5.2 billion.

However, Khazanah’s managing director Shahril Ridza Ridzuan said in October that the wealth fund does not intend to sell off its shares in PLUS, since the offers made for it by various parties have so far been deemed "unattractive”.