PUTRAJAYA: The government has asked Maju Holdings Sdn Bhd to disclose its source and mode of financing for its RM36 billion offer to buy Plus Malaysia Bhd, the country’s largest highway concessionaire. Johari stressed that the government had refinanced the Plus highway development cost via the Employees Provident Fund (EPF) and UEM Group Bhd. UEM, which is fully-owned by Khazanah Nasional Bhd, owns a 51 per cent Plus stake, while the remaining 49 per cent belongs to the EPF. He clarified that he had yet to receive the proposal from Maju Holdings. A Maju Holdings spokesman recently confirmed that it had submitted a formal bid to UEM and the EPF to buy 100 per cent of Plus and its subsidiaries.

Source: New Strait Times September 28, 2017 09:33 UTC