top of page

Khazanah confirms submitting highway takeover plan

KUALA LUMPUR: The government is said to have received several proposals on toll highways, including from Khazanah Nasional Bhd.

Following the New Straits Times’ report early this week that the government had a RM43 billion takeover proposal on its table, a Khazanah spokesperson has confirmed that the sovereign wealth fund had submitted a proposal to the government on toll highways takeover.

Speaking to Malaysian Reserve, the spokesperson said the plan had been submitted a few weeks ago for the government’s deliberation.

“There have been several proposals on toll highways submitted to the government, including from Khazanah. It is up to the government to consider and decide on these proposals,” the spokesperson added.

The NST reported on Monday about a new proposal in which the government would offer to buy highways owned by Plus Malaysia Bhd including NSE for RM30.8 billion, as well as those by Projek Lintasan Kota Holdings Sdn Bhd (Prolintas) for RM3.1 billion, Gamuda for RM5.6 billion and IJM Corp Bhd for RM2.7 billion.

The possible acquisitions would be paid via issuance of debt papers to the concessionaires.

The SPV would buy the concessions by RM10 billion cash and RM20.1 billion debt, both via Paper A, and the remaining RM12.7 billion via Paper B.

The news report, citing sources, said Khazanah would form a special-purpose vehicle (SPV) called a highway trust, to act on the government’s behalf for the acquisitions of all the concessions.

Meanwhile, The Edge Financial Daily, according to sources, said a high-level meeting of government officials was believed to take place as soon as today to map out the plan on the highway concessions in the country moving forward.

It said much of the discussions could also be on proposals to take over some of the highway concessions, after which a decision could be made.

bottom of page