Facebook with Latestnigeriannews  Twieet with latestnigeriannews  RSS Page Feed
Home  |  All Headlines  |  Punch  |  Thisday  |  Daily Sun  |  Vanguard   |  Guardian  |  The Nation  |  Daily Times  |  Daily Trust  |  Daily Independent
World  |  Sports  |  Technology  |  Entertainment  |  Business  |  Politics  |  Tribune  |  Leadership  |  National Mirror  |  BusinessDay  |  More Channels...

Viewing Mode:

Archive:

  1.     Tool Tips    
  2.    Collapsible   
  3.    Collapsed     
Click to view all Entertainment headlines today

Click to view all Sports headlines today

Malaysia Rejects All Bids to Buy Its Biggest Highway Operator

Published by Yahoo on Thu, 16 Jan 2020


(Bloomberg) -- Follow Bloomberg on LINE messenger for all the business news and analysis you need.Malaysia has rejected all bids from companies seeking to buy stakes in the nation's biggest highway concession-holder, as the government sets out another plan to lower toll fares to meet an election pledge.The cabinet has decided that state funds Khazanah Nasional Bhd. and Employees Provident Fund will maintain their stakes in toll road operator PLUS Malaysia Bhd., Prime Minister Mahathir Mohamad told reporters on Thursday. The government has studied all proposals from the private sector, he said, without naming the bidders.Instead, the government will cut toll fares by 18% from the current rate and keep them unchanged despite inflation or changes to traffic, Mahathir said.'Remember that the 18% is fixed at today's rate, which means that in 30 years' time that 18%, I mean the toll rate will be very very low indeed,' he said.The government has struggled to fulfill its election promise of abolishing toll fares as part of a plan to help lower living costs. Negotiations to acquire the remaining concessions for four separate highways from Gamuda Bhd. has hit multiple delays since the 6.2 billion ringgit ($1.5 billion) acquisition was first announced in June.PLUS is 51%-owned by Khazanah through UEM Group Bhd., with the rest owned by EPF. The company operates the country's longest expressway connecting the southern border with Singapore to cities near the northern border with Thailand.To contact the reporter on this story: Anisah Shukry in Kuala Lumpur at ashukry2@bloomberg.netTo contact the editors responsible for this story: Yudith Ho at yho35@bloomberg.net, Chan Tien HinFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.2020 Bloomberg L.P.
Click here to read full news..

All Channels Nigerian Dailies: Punch  |  Vanguard   |  The Nation  |  Thisday  |  Daily Sun  |  Guardian  |  Daily Times  |  Daily Trust  |  Daily Independent  |   The Herald  |  Tribune  |  Leadership  |  National Mirror  |  BusinessDay  |  New Telegraph  |  Peoples Daily  |  Blueprint  |  Nigerian Pilot  |  Sahara Reporters  |  Premium Times  |  The Cable  |  PM News  |  APO Africa Newsroom

Categories Today: World  |  Sports  |  Technology  |  Entertainment  |  Business  |  Politics  |  Columns  |  All Headlines Today

Entertainment (Local): Linda Ikeji  |  Bella Naija  |  Tori  |  Pulse  |  The NET  |  DailyPost  |  Information Nigeria  |  Gistlover  |  Lailas Blog  |  Miss Petite  |  Olufamous  |  Stella Dimoko Korkus Blog  |  Ynaija  |  All Entertainment News Today

Entertainment (World): TMZ  |  Daily Mail  |  Huffington Post

Sports: Goal  |  African Football  |  Bleacher Report  |  FTBpro  |  Kickoff  |  All Sports Headlines Today

Business & Finance: Nairametrics  |  Business Insider  |  Forbes  |  Entrepreneur  |  The Economist  |  BusinessTech  |  Financial Watch  |  BusinessDay  |  All Business News Headlines Today

Technology (Local): Techpoint  |  TechMoran  |  TechCity  |  Innovation Village  |  IT News Africa  |  Technology Times  |  Technext  |  Techcabal  |  All Technology News Headlines Today

Technology (World): Techcrunch  |  Techmeme  |  Slashdot  |  Wired  |  Hackers News  |  Engadget  |  Pocket Lint  |  The Verge

International Networks:   |  CNN  |  BBC  |  Al Jazeera  |  Yahoo

Forum:   |  Nairaland  |  Naij

Other Links: Home   |  Nigerian Jobs