UEM to sell PLUS and hang on to Renong?

United Engineers Malaysia (UEM) is allegedly turning a blind eye to the best interests of its minority shareholders for the greater good of the Renong group once again. The company is planning to sell 25% to 35% of toll road operator Projek Lebuhraya Utara Selatan (PLUS) through an initial public offering (IPO) later this year for as much as M$4 billion ($1.05 billion), which would be the most money ever raised in a Malaysian listing.