Business tycoon Vincent Tan applies for leave to initiate judicial review

He also claimed that the group that is also in a consortium with Naza Group, had been picked to manage the fleet concession by the previous administration through a LoI issued in 2018.: Business tycoon Tan Sri Vincent Tan of Berjaya Group has applied for leave in an effort to initiate judicial review against Putrajaya’s decision to terminate his company’s Letter of Intent for a multi-million ringgit vehicle fleet concession.

It is understood that a 49:51 consortium was formed with Naza in 2018 to bid for the contract deemed lucrative, which also involved vehicles estimated to be worth around RM300 million yearly starting after the fifth year. The government, then under Prime Minister Tan Sri Muhyiddin Yassin, had terminated their LoI and gave the tender to Spanco, which was RM700 million more expensive then their own tender.

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