KUALA LUMPUR, Jan 10 — Jelas Ulung today declined to put down the stipulated RM50 million refundable deposit in its bid to acquire PLUS Expressways Berhad (PEB), but said its original RM26 billion offer remained valid.
Jelas Ulung chairman Tan Sri Ibrahim Zain said the company would not be putting down the deposit due to “uncertainties” surrounding an acquisition bid for the highway concessionaire.
“We decided not to put in a deposit but our original offer still stands,” Ibrahim told The Malaysian Insider. “If they decide to accept our offer, then we can talk.”
He said that some of the uncertainties that he perceived include whether the winning bidder would be determined based on “price or other factors”.
PEB had given bidders for the company until the end of today to place the deposit.
The UEM Group and EPF, which already collectively own about 67 per cent of PEB, are also making a joint bid to acquire PEB.
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