Cabinet to discuss PLUS takeover bid on Wednesday, says finance minister

Finance Minister Lim Guan Eng speaks to the press after officiating the Internal Revenue Board’s directors’ conference in George Town January 13, 2020. — Picture by Sayuti Zainudin
Finance Minister Lim Guan Eng speaks to the press after officiating the Internal Revenue Board’s directors’ conference in George Town January 13, 2020. — Picture by Sayuti Zainudin

GEORGE TOWN, Jan 13 — The Cabinet will decide on the proposed takeover of PLUS Malaysia Bhd this Wednesday, Finance Minister Lim Guan Eng said today.

He said the Cabinet will discuss this in its weekly meeting and make any necessary announcements after that.

“I can’t make this announcement now as it is important and the Cabinet has to deliberate on it first,” he said in a press conference after officiating a directors’ conference by the Inland Revenue Board (IRB) at St Giles Wembley Hotel here.

It was previously reported that the government was proposing to take over 15 highways in the country that are managed by PLUS for about RM43 billion.

It was reported that the acquisition would be paid via the issuance of debt paper to the concessionaires.

The Cabinet reportedly ordered the Works Ministry, Economic Affairs Ministry and Finance Ministry to look into the details on how to best manage PLUS before deciding on the takeover.

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