Business

Government decides not to sell PLUS

TheMole
Written by TheMole

KUALA LUMPUR — Jan. 16, 2020: The government has decided not to sell Projek Lebuhraya Utara-Selatan (PLUS) Malaysia Berhad and will extende the concession by 20 years and with toll rates reduced by 18 per cent at the ringgit’s current value.

The decision by the Cabinet at its weekly meeting yesterday means that PLUS will remain with remain with Khazanah Nasional and the Employees Provident Fund, which respectively own 51 and 49 per cent of the concessionaire.

“We have studied all the bids from the private sector and also by Khazanah and in the end decided that the best way is not to sell PLUS but retain it with Khazanah and EPF,” Prime Minister Tun Dr. Mahathir Mohamad said after an event at the Tenaga Nasional Berhad headquarters here.

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