Why is the former Transport Minister against the PLUS takeover bid?

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Former Transport Minister Ong Tee Keat Opposes PLUS Takeover Bid Due to Public Interest Concerns

Datuk Seri Ong Tee Keat, the former Transport Minister, has voiced strong opposition to the private entity's takeover offer for the North-South Expressway (Plus). His primary concern centres on the potential for the bid to shift a national asset away from public service towards private profit, potentially leading to unsustainable promises and ultimately burdening taxpayers. Ong argues that key infrastructure like Plus should remain under government-linked ownership to ensure it continues to serve the public interest rather than enriching private shareholders.
Unsustainable Promises May Lead to Bailouts

Ong expressed significant doubts about the feasibility of the bidding company's promises, specifically mentioning the pledge to refrain from toll increases for 24 years and to offer a 50% discount for daily commuters. He described these as "carrots" that could prove untenable in the face of unpredictable market variables and rising operational costs. Should the company find itself unable to meet these commitments, Ong fears it might seek a government bailout, a scenario that would ultimately place the financial burden on the Malaysian public through taxpayer funds, a situation he noted has occurred historically.
National Assets Should Serve the Public, Not Private Gain

The former minister asserted that critical national assets such as Plus are intended to benefit the populace and should therefore remain under the stewardship of government entities like UEM and the Employees Provident Fund (EPF). He believes that maintaining government ownership is a prerequisite for achieving people-centric goals. Ong pointed out that the EPF, with its 14 million contributors, would not stand to gain from divesting its stake, especially given the fund's consistent track record of declaring commendable dividends.
Profit Motive Contrasts with Social Responsibility

Ong highlighted the inherent difference in objectives between private entities and government-linked organisations when managing such infrastructure. He stated that private companies are primarily profit-oriented and less inclined to operate with a sense of social responsibility. While acknowledging that the public desires national benefit from the expressway's profits and that Plus users seek affordable toll rates without compromising maintenance, Ong cautioned that private concessionaires are more likely to prioritise shareholder returns. Any financial difficulties encountered by a private operator could again lead to a call for public funds to bail them out, a prospect he aims to avoid.
Evolving Challenges for the Expressway

Beyond the ownership debate, Ong also recognised the evolving landscape and challenges facing the North-South Expressway. He noted the increasing number of vehicles utilising the infrastructure, the growing reliance on efficient mass public transportation systems, and the intensifying competition from alternative modes of transport such as rail and more affordable air services. These factors, he suggested, will continue to shape the operational environment and strategic considerations for the expressway.

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Why is the former Transport Minister against the PLUS takeover bid?

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