Highway Concession Takeover: PLUS will wait for government's decision
Last Update: 25/06/2019
PETALING JAYA, June 25 (Bernama) -- The country’s largest expressway service provider, PLUS Malaysia Bhd (PLUS) is willing to review the concession agreements should the government want to take over PLUS operated toll highways.
“We are a concession company and we have signed agreements with the government. If the government wants to change (the agreements), we will look at it (proposal), in accordance with the agreement.
“We just have to wait what the government has to offer,” PLUS managing director Datuk Azman Ismail told reporters after the launch of its partnership with Microsoft here today.
He was responding to a question whether PLUS was open to toll concession takeover by the government.
PLUS is the expressway arm of UEM Group which is a subsidiary of Khazanah Nasional Bhd. Both UEM and Khazanah collectively hold 51 per cent shares in PLUS while the remaining 49 per cent owns by the Employees Provident Fund.
Previously, Khazanah said it would leave to PLUS to handle discussions if the government proposed to take over its toll expressways but would advise PLUS from time to time if there were any outcomes.
Last Saturday, Finance Minister Lim Guan Eng announced that the government had made a RM6.2 billion bid to take over four concessions of toll highways, which could save taxpayers RM5.3 billion in compensation to the concessionaires.
The four highways are Lebuhraya Damansara-Puchong (LDP), Sistem Penyuraian Trafik KL Barat (Sprint), Shah Alam Expressway (Kesas) and Smart Tunnel (Smart).