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NEWS UPDATES 29 August 2009

Malaysian govt to keep stake in toll firm

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Malaysian government has no plans to sell its stake in the country's biggest toll road operator, PLUS Expressways Bhd, the Business Times quoted Prime Minister Najib Razak as saying.

"I don't think so because PLUS is an important company for us. It provides a lot of cash for Khazanah (Nasional Bhd)," he said at a press conference after the inaugural meeting of the National Economic Advisory Council in Kuala Lumpur Friday.

He was asked to comment on recent speculation that Khazanah, the govern-ment's investment arm, was selling down its stakes in PLUS and telco Axiata Group Bhd.

On Axiata, in which Khazanah owns a 44.5 per cent stake, Najib declined to comment, saying that he would "have to check on that". Khazanah owns a 23.7 per cent direct stake in PLUS as well as an indirect 40.2 percent stake through wholly-owned UEM Group Bhd.





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