PLUS shares suspended fuelling talk of gov't sale

Syed Mokhtar - offered to takeover

(Reuters) - Shares in Malaysian highway operator Plus Expressways were suspended on Thursday pending an announcement, the company told the stock exchange.

Malaysian conglomerate UEM Group Bhd holds a 38.5 percent stake in Plus. Malaysia's state investment fund Khazanah Nasional, which owns UEM Group, also has a 16.7 percent stake in Plus.

UEM Group has become an acquisition target for Kuala Lumpur-listed MMC Corp (MMCB.KL: Quote), which is owned by reclusive tycoon Syed Mokhtar Albukhary.

Prime Minister Najib Razak was earlier cited by local media as saying the government has recieved five proposals to acquire UEM Group. Najib said these proposals will be mentioned when he presents the country's 2011 budget on Friday.