Malaysia's $2b plan to buy out toll operations faces setback

Major shareholders slapped with prohibitive conditions: Sources

In a photo taken on July 24, 2014, a car passes through a Touch 'n Go toll booth in Johor Bahru, Malaysia.
In a photo taken on July 24, 2014, a car passes through a Touch 'n Go toll booth in Johor Bahru, Malaysia.PHOTO: ST FILE

A contentious multi-billion-dollar plan by Malaysia's Finance Ministry to wrest control of a clutch of highway toll operations that has been ranked as the country's largest corporate deal for this year is coming unstuck.

Bursa Malaysia, as the local bourse is known, has slapped prohibitive conditions on the major shareholders of the four toll concessions the government is proposing to acquire for RM6.2 billion (S$2 billion), bankers involved in the transaction process told The Straits Times recently.

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A version of this article appeared in the print edition of The Straits Times on December 02, 2019, with the headline 'Malaysia's $2b plan to buy out toll operations faces setback'. Print Edition | Subscribe