Have Khazanah and EPF been formally consulted on PLUS highway sale?

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Khazanah and EPF Have Not Been Formally Consulted on PLUS Highway Sale

Khazanah Nasional Bhd and the Employees Provident Fund (EPF), the owners of PLUS Malaysia Bhd, have not been formally engaged by the government regarding the sale of the highway concessionaire. Any decision concerning the disposal of assets necessitates a formal consultation process with the current shareholders, Khazanah and EPF. As of the reporting period, this formal engagement has not commenced.
Ownership Structure of PLUS Malaysia Bhd

Khazanah Nasional Bhd, through its subsidiary UEM Group Bhd, holds a 51% stake in PLUS Malaysia Bhd. The Employees Provident Fund (EPF) possesses the remaining 49% ownership. This established ownership structure means that any significant decision regarding the company's future, including a potential sale, requires the formal agreement and involvement of both Khazanah and EPF.
Unsolicited Offers and Valuation Concerns

Neither Khazanah nor EPF has initiated a sale process for PLUS Malaysia Bhd, and no active bidding is underway. The offers reportedly received by the government are unsolicited and were directed towards the government, not the shareholders. In the past, Khazanah and EPF declined previous offers as they were perceived to undervalue the assets. However, a recent valuation conducted by the government through an independent investment bank has reportedly aligned with the current market value of PLUS.
Awaiting Government Policy Decision

The owners of PLUS Malaysia Bhd are awaiting a policy decision from the government, which will be deliberated upon by the Cabinet. This forthcoming Cabinet discussion is expected to address the proposed takeover of PLUS, alongside Gamuda Bhd's four Klang Valley highways. The outcome of this governmental deliberation will guide the next steps for Khazanah and EPF concerning any potential sale of their stake in PLUS.

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Have Khazanah and EPF been formally consulted on PLUS highway sale?

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