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Finance Ministry makes preliminary objection to PLUS Malaysia takeover

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KUALA LUMPUR: The Finance Ministry has made a preliminary objection against Maju Holdings Sdn Bhd's takeover of PLUS Malaysia Bhd, after taking consideration the views of main shareholders Khazanah Nasional Bhd and Employees Provident Fund (EPF).

Finance Minister Lim Guan Eng said the two main shareholders of PLUS Malaysia Bhd had expressed their objection, but did not reveal the reason behind it.

Lim said this was the position taken by the Ministry but he added that,"it will of course be based on the Prime Minister's decision." It was reported that Maju Holdings group executive chairman, Tan Sri Abu Sahid Mohamed had put in an RM36bil bid to take over PLUS in 2017.

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