Cabinet to decide on highway concessionaires takeover bids — Baru

Baru Bian

KUCHING, June 22: The decision to take over highway concessionaire companies would only be decided by the federal cabinet after taking into account the findings and recommendations of the Works Ministry, especially those concerning tolls.

Works Minister Baru Bian, in a statement today, clarified that the findings report by his ministry would only be tabled before the cabinet next month.

He said the Works Ministry had appointed a certified independent auditor in January this year to assess and do research holistically the direction of the toll industry in the country.

Among the principles or main criteria of the research, he said, is to recommend viable options that would be acceptable to all stakeholders, such as the government, concessionaire companies and the rakyat.

“Apart from that, other criteria include reducing the financial impact on the government and ensure that the standard of operation and maintenance of the highways are not affected,” said Baru.

The statement was issued after a report in an online news portal (https://www.malaysiakini.com/news/480666) stated that Putrajaya had launched a RM6 billion bid to acquire four highway operators in the country.

The report said the Minister of Finance Incorporated (MOF Inc) had on June 21 issued letters of offer to buy over four highway concessionaire companies.

It further said that according to separate filings with Bursa Malaysia by Gamuda Bhd and Lingkaran Trans Kota Holdings Bhd (Litrak Holdings), MOF Inc issued letters of offer to Kesas Holdings, Sprint Holdings, Litrak Holdings and Smart Holdings.

Based on the filings, the report speculated that Putrajaya was offering up to RM6.2 billion to acquire these companies. — DayakDaily