Abu Sahid Mohamad, the group executive chairman of Maju Holdings Sdn Bhd, is ready to buy equity in PLUS Malaysia Bhd held by EPF and UEM Group.

Corporate tycoon Abu Sahid Mohamad wants to take over highway operator PLUS Malaysia Bhd.
The group executive chairman of Maju Holdings Sdn Bhd wants to buy up both the 51% share held by UEM Group Bhd and the 49% held by the EPF. The acquisition could cost RM30 billion or more.

He intends to do this via his flagship Maju Holdings Sdn Bhd, according to a report in The Edge. UEM is a wholly-owned subsidiary of Khazanah Nasional Bhd.

The Edge reported that Abu Sahid was trying to meet Khazanah managing director Azman Mokhtar over the possible acquisition.

Abu Sahid, who was once chairman of Perwaja, told The Edge: “Yes, I want to buy all of PLUS [Malaysia] … the EPF’s 49% as well.”

However, he declined to reveal details, as he has yet to commence talks.

If his plan works out, it could lead to the largest corporate exercise in Malaysia to date, according to The Edge.

Abu Sahid was quoted by The Edge as saying: “I’m very, very confident of pulling it off. I have everything ready – I have the money, I have the blessing from the highest levels in the country, I have the advisers and bankers all ready, and I have the formula to do it.”

UEM declined to comment to an email query by The Edge, saying only that it had a policy not to comment on reports that were speculative in nature.

The UEM Group and the EPF took over the assets and liabilities of PLUS Expressways in 2011 in a RM23 billion deal.

PLUS Malaysia has five concessions:

1.Projek Lebuhraya Utara-Selatan Bhd, with an 846km concession that includes the North-South Expressway, New Klang Valley Expressway, Federal Highway Route 2 and Seremban-Port Dickson Highway;

2.Expressway Lingkaran Tengah Sdn Bhd, with a 63km concession that includes the North-South Expressway Central Link;

3.Linkedua (M) Bhd, with the 47km Malaysia-Singapore Second Crossing;

4. Konsortium Lebuhraya Butterworth-Kulim Sdn Bhd, with the 17km Butterworth-Kulim Expressway; and

5. Penang Bridge Sdn Bhd with the 13.5km Penang Bridge.

All of PLUS’s concessions end in December 2038.

Abu Sahid also confirmed there were negotiations to sell Maju Expressway but nothing had been finalised as he would not sell for anything less than RM3 billion.

He was asked to comment on market talk of the UEM Group considering to buy Maju Expressway Sdn Bhd, which operates the Maju Expressway (MEX) that links Kuala Lumpur city centre with the Kuala Lumpur International Airport in Sepang. A 16.8km extension to KLIA will further increase the value of MEX. The extension, known as MEX 2, is slated to cost RM1.7 billion to construct – with the engineering, procurement and construction sum of RM1.29 billion fixed under the contract.

Maju Expressway registered an after-tax profit of RM7.62 million on the back of RM105.57 million in revenue for its financial year ended Dec 31, 2015. It has a 33-year concession, which started in December 2004.

http://www.freemalaysiatoday.com/category/...ts-to-buy-plus/

Abu Sahid Mohamad Profile

Tan Sri Abu Sahid Mohamed (58 tahun) adalah pemegang konsesi Maju Expressway (MEX) yang mengendalikan Lebuh raya Kuala Lumpur - Putrajaya - KLIA. Beliau adalah Pengerusi Eksekutif Kumpulan Maju Holdings Sdn. Bhd. Beliau juga Pengerusi Kinsteel Bhd yang telah menerima kelulusan untuk menyenaraikan Perwaja Steel Sdn. Bhd. (Perwaja Steel) di Papan Utama Bursa Malaysia. Beliau adalah orang yang bertanggungjawab membangunkan Bandar Tasik Selatan.

Pada 1977, syarikat pertama beliau ialah Maju Alat Ganti Sdn Bhd. Beliau juga Pengerusi eksekutif Ipmuda Bhd ;Pengerusi dan Pengarah Kinsteel Bhd sejak 26 Februari 2007 ; Pengerusi Konsortium Lapangan Terjaya Sdn Bhd ; Pengarah Perwaja Holdings Bhd ; Bright Focus Berhad ; Maika Holdings Berhad ; Avalon Minerals Ltd ; Maju Expressway Sdn Bhd ; dan Perwaja Steel Sdn Bhd ; lembaga pengarah Kai Peng Berhad ;Pengerusi Selangor and Federal Territory Engineering ; Motor Parts Traders Association(1985 - 1987). Pada 1996, Abu Sahid menerusi Maju Holding 'bailed out' Perwaja Steel dari kerajaan.Seterusnya menubuhkan syarikat besi keluli yang baru 'Kinsteel' pada 2005.

Syarikat beliau juga membina dan mengendalikan Terminal Bersepadu Selatan-Bandar Tasik Selatan (TBS-BTS). Terminal itu seluas tanah 20 hektar dengan kos RM570 juta. Maju Junction yang merupakan pasar raya besar dan pejabat terletak di Kuala Lumpur juga miliknya.

https://ms.wikipedia.org/wiki/Abu_Sahid_Mohamad

This post has been edited by ironmaid89: Aug 1 2017, 01:11 PM

Business with gov guarantee of profitability


Sure anybody want

cable kuat this guys if can take plus from khazanah and epf

Fuuuuu.....

He will eclipse Syed Mokhtar Al Bukhary if he make it happened and monopolized the highway...

I thought Maju guy is a chinese fella?

Hahaha joker

Someone shud report him to lhdn to verify whether taxes r paid in full

Not cable kuat, it's cash standby.

means more expensive toll in kambing/.??

MEX rm3.50 .....so expect to see RM5 soon ??

gdluck msia

Something must be wrong if PLUS need to be sold to him.

Ex perwaja so mmg pandai menguruskan syarikat

😁

maybe backed by Chinese investors. rm30 bil is seriously a lot of money.
but i don't think gov will sell. plus is cash cow. epf is long term investor

Concession period of highways extended from 2018 to 2038.

Thank you BN

mydin begs to differ

so later can increase price suka hati mak bapak dia

PLUS itself since they sold off the maintenance arm PROPEL to UEM Edgenta.. Its not as juicy anymore.

Propel is the vanilla ice cream, whipped cream, cherry sprinkles, honey drip. Plus is just the bowl.

Backed by Jho Low.

sure profit for EPF tu...rugi la kalau jual share..