PLUS today operates eight expressways under five concessions. These concessions end in 2038. Its highways are the 772-km North-South Expressway which runs from Bukit Kayu Hitam to Johor Baru; the New Klang Valley Expressway; Federal Highway Route 2; the Seremban-Port Dickson Highway; the NSE Central Link; the Malaysia-Singapore Second Link; Lebuhraya Butterworth-Kulim and the Penang Bridge.

PETALING JAYA: The Cabinet has ordered the three main ministries back to the drawing board before it decides on the takeover of PLUS Malaysia Bhd, says a Works Ministry source.

The decision is now expected to be out next week, as the Works Ministry, Economic Affairs Ministry and Finance Ministry continue to iron out details on who or how to best manage the largest highway concessionaire in the country, said the source.

A decision was expected to be made yesterday. However, with the complicated nature of the deal, the deadline had to be extended by another week.

For the PLUS deal to materialise, a few conditions are key. The government must not be burdened with further debt, the toll rates have to be reduced by at least 18% and the concession period cannot be extended more than 20 years, said the source.

In late December, Finance Minister Lim Guan Eng had said that a decision on PLUS must be made soon so that the government could avoid paying more compensation.

The government had already announced the freeze on toll hikes last year, and has to compensate toll operators.

During the tabling of Budget 2020, Lim said that an average reduction of toll rates by 18% would save some RM43bil for highway users until 2038, which is when the concession ends.

So far, there have been four formal offers to take over PLUS.

The latest takeover offer came in October 2019 from businessman Tan Sri Halim Saad and Datuk Wong Gian Kui with a RM5.2bil offer to buy the entire equity interest of PLUS via Karongsa Private Capital Sdn Bhd.

His deal includes a 25% discount on toll rates, and does not seek an concession extension.

Wong is a prominent businessman who currently sits on the boards of Insas Bhd, INARI AMERTRON BHD, Ho Hup Construction Co Bhd, SYF Resources Bhd and YI-LAI BHD.

It was during Halim’s tenure as head of UEM Group and Renong Group that the company had secured a RM3.4bil contract to build PLUS. Today, he is back in a different capacity to take over the highway concessionaire.

Then, there is also Widad Business Group Sdn Bhd which owns Widad Group Bhd, which has offered RM3.5bil cash to buy up PLUS. Its deal comes with a minimum 25% toll cut and an extension of 20 years.

The third offer is from a Malaysian-led, Hong Kong-based private equity firm, RRJ Capital, which has made a bid to acquire PLUS outright for RM3.5bil.

The firm, which manages US$20bil in funds sourced mainly from the United States and the Middle East, looks to offer toll discounts averaging 20% and is looking for a 20-year extension period.

Meanwhile, Tan Sri Abu Sahid Mohamed of Maju Holdings Sdn Bhd is the only bidder to put in an enterprise value offer for PLUS at RM34.9bil. Maju is the concession holder of the Maju Expressway (MEX).

As it is, the government currently owes PLUS RM2.7bil in toll compensation.

In a statement last October, Maju Holdings said that if Maju took over PLUS, it wouldn’t hold the government responsible for these debts. This would translate into RM2.7bil in savings for the government.

Further, the company has also pledged to invest RM5.3bil on improving all the highways under PLUS.

Maju’s enterprise value to purchase PLUS includes outstanding debt to bond-holders of RM34.9bil. This purchase consideration is a reflection of the true and fair value of the company and its assets, Maju had said.

In the public realm, very little is known about Abu Sahid’s businesses, as most of his companies are privately held. He does, however, have a 12.99% stake in IPMUDA BHD, which supplies building materials and finishing products to the construction industry. Abu Sahid is the executive chairman of Ipmuda.

PLUS today operates eight expressways under five concessions. These concessions end in 2038.

Its highways are the 772-km North-South Expressway which runs from Bukit Kayu Hitam to Johor Baru; the New Klang Valley Expressway; Federal Highway Route 2; the Seremban-Port Dickson Highway; the NSE Central Link; the Malaysia-Singapore Second Link; Lebuhraya Butterworth-Kulim and the Penang Bridge.

Currently, PLUS is controlled by the UEM Group – a subsidiary of Khazanah Nasional Bhd – and the Employees Provident Fund (EPF). Khazanah holds a 51% share in PLUS, while the remainder 49% is held by the EPF.

Khazanah, which is the country’s investment arm, has said that it has no plans to divest PLUS. Nonetheless, the government has shown willingness to consider private bids for the highway company.

Prime Minister Tun Dr Mahathir Mohamad has said that it would be a better option for the private sector to take over the highway concessionai

2. PLUS Up for Sale?
PLUS Malaysia Bhd has attracted four bidders to date. The highest bid made so far is from Tan Sri Halim Saad and his partner Datuk Wong Gian Kui who have tabled a fresh RM6.8 billion offer, a third more from the RM5.2 billion bid earlier as rivals sweeten their offers as well for the highway concessionaire.


Dr Mahathir (second from left) looking at the Bandar Malaysia model. The revised Bandar Malaysia project will see greater role for local contractors and resources, as well as a greater number of affordable homes at the location

Halim has also proposed a 25% discount on toll rates and for the concession period to end as per December 2038. The former executive vice chairman of Sumatec Resources Bhd is seeking to buy Khazanah’s stake in PLUS, based on the offer letter to the government.

Wong sits on the boards of Insas Bhd, Inari Amertron Bhd, Ho Hup Construction Co Bhd, SYF Resources Bhd and Yi-Lai Bhd.

GO GO GO insas every day canteek.. from now ... break major resistance 92 sen then close eye easily hit 1.00 ~ 1.30 in shorterm

insas i wan sell u at RM 2.5 ~ 3.00 within 2 years time ! lets wait n see .. for 2020 and 2021 SUPERBULL for KLSE !

WOW VROOM INSAS ! CANTEEEK CANTEEKK>>>> WB holder lets hope for sell at above 10 sen hahahahahaa BONUS BONUS

Omesti Microln DGSB INSAS all move tgt pls hahhaaa

insas d most undervalue counter in bursa .. now i can feel it .. support so strong .. and really not much of seller nowadays ... Insas boss finally collect enuf share ...

INSAS CANTTEEEEEKkkkkkkkkkkkkkkkkkkkk

1. Oh yEa and still have not reach my TP

Vroom insas

ＩＮＳAS 2020 CANTEEEKKKKKKKK hahahaha

does insas got apply for Digital bank license ?

insas Canteeekkkkk

insas is back ! but my insas wb dont know can come back or not hahaha

my fren is supplier ... he said cements price already increase ....

Tnlogis Same story ?

aiyoyo still 81 sen haha

815 also come .. haha ..

i bought 1000.00 worth of insas wb ... yeah .. now i guess maybe BUrned... haha

next time insas break 92 sen sure ALL IN KUAT KUAT ... now dont look at it 1st .. haha wrong timing again .

GG.com

ecowld are better now .. insas.. disappointed haha

haha up kuat kuat la hari ini !

INSAS SUPPORT STRONG AT 0.88 ... Jiayou ... ROAD TO ABOVE RM 1..000 is COMING on THE WAY ...

INSAsCANTEEEKKKKKKKKKKKKKKKKKKKKKKKKKKKKKK

today video record on Insas buy order market depth ... hahaa if there d event of withdraw buyer queue again then report to SG hahaha

insas operator very fuxk .... suddenly cancel Buy queue .. and lure ppl sell down ... once report to SC then sure kena investigate .. Fishing .. use fake buyer blok to lure ppl chase

insas betul betul seriously canteek..... pls buy before it reach 1.00 ... look at omesti Inari Microln .. all chart waiting to big break out ... stay tune .. i am back to support insas

INSAS CANTEK ! ALL IN

furniture sector really lack of popular nowadays.....

MEMORANDUM OF UNDERSTANDING OCK GROUP BERHAD (OCK OR THE COMPANY) Memorandum of understanding (MOU) with China Information Technology Designing & Consulting Institute Co. Ltd.
OCK GROUP BERHAD

Type Announcement
Subject MEMORANDUM OF UNDERSTANDING
Description OCK GROUP BERHAD (OCK OR THE COMPANY)
Memorandum of understanding (MOU) with China Information Technology Designing & Consulting Institute Co. Ltd.
The Board of Directors of OCK is pleased to announce that the Company has entered into a Memorandum of Understanding on 28 November 2019 with China Information Technology Designing & Consulting Institute Co. Ltd., a subsidiary of China United Network Communications Group Co. Ltd or more commonly known as China Unicom.



A copy of the press release setting out the information on the MOU is annexed herewith for your easy reference.



A detailed announcement in respect of the MOU in compliance with Listing Requirements will be released separately today.



This announcement is dated 28 November 2019.

0.685 give me pls hahaha

next week sure fly with Spring arts ! all Muar furniture Counter Goreng goreng Up ..

yaya who sold in d early morning sure regret ... haha

hurray all in Homeriz !

buy buy buy back !

tomorrow sure drop .. cos today sure got ppl chase in .. let d shark wash out weak holder 1st .. it will be Bonus if still Up tmr .. haha

tmr shark sure Press down in morning and collect cheap ... dont forget Spring Arts will be listed on 8 th november .. that time All furniture will move .. so shark sure take chance press down Homeriz ... and Homeriz wB ,.... those contra kaki tmr sure cutloss gaolak and let Shark collect at cheap

http://www.bursamalaysia.com/market/listed-companies/company-announcements/6322405

nid to break aboev 635 ...

insas canteeek!!!!! hahahaha

it is good time to check insas support when black cat comes .. black cats come so many times but insas still unable to break below 80sen .. good to buy some now ???????

insas will you fly if unable to break down below 80cents again ? .....

jaks so power ... look at insas ... really nid alot of patient ... haiz ....

insas so weak haha come back after vol more than 10000lot trading vol daily .. now is still sleeping ..

insas also will cantik ... but nid to break above 835 ... boss dont want goreng ... so i waiting here hahaha

i think jaks is more possible to hit RM 3.00.....

wow icon8888 sifu also come comments on insas dy .. really need patience dy ..

insas timing betul havent come ... should wait it break out 0.835- 0.845
above only go in ...

lousy stock insas ... haha ... still 82 sen ...