Why was the PLUS highway concession extension not sold to Maju Holdings?

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Khazanah and EPF Determined Retention of PLUS Concession Was the Optimal Decision

Prime Minister Tun Dr Mahathir Mohamad has clarified that the decision to retain highway operator PLUS Malaysia Bhd under the ownership of Khazanah National Bhd and the Employees Provident Fund (EPF) was made independently by these entities. This determination was reached after a thorough evaluation of all proposals submitted by various parties, with Khazanah and EPF concluding that maintaining the status quo represented the most advantageous outcome. The government subsequently confirmed a 20-year extension for PLUS's toll concession, ensuring its continued operation of Malaysia's most extensive highway network.
Khazanah and EPF Evaluated Multiple Offers

The Prime Minister indicated that while proposals from different bidders, including Maju Holdings Bhd, were indeed reviewed, the ultimate decision rested with Khazanah and EPF. They assessed these offers to ascertain the "best decision" for the future of PLUS. This process implies that the bids were weighed against specific criteria, and the existing ownership structure under Khazanah and EPF was deemed superior to the alternatives presented.
Retention Ensures Operational Continuity and Debt Management

The extension of the toll concession for PLUS for a period of 20 years was a key decision made by the Cabinet. This strategic move is expected to enable PLUS to effectively manage its existing debts and sustain its operations across the country's largest highway system. The company currently manages five significant concessions in Malaysia, underscoring its critical role in national infrastructure.
Public Benefits Include Toll Reductions and No Future Hikes

In conjunction with the concession extension, the government announced that toll charges for private vehicle users on PLUS-operated highways will see an 18 per cent reduction, effective February 1. Furthermore, a commitment has been made to prevent any toll rate increases until the year 2058. These measures aim to provide immediate relief to road users and offer long-term predictability regarding tolling costs.

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Why was the PLUS highway concession extension not sold to Maju Holdings?

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