PNB said to be exploring sale of Prolintas in deal worth up to RM3 billion
Bloomberg, citing people familiar with the matter, reported that PNB is working with a financial adviser on the potential divestment and has reached out to industry players and private equity firms to gauge interest.
The discussions are still ongoing and PNB could ultimately decide to retain Prolintas, the sources said.
In an emailed statement to Bloomberg, PNB said it regularly reviews its portfolio for opportunities to enhance value, including through divestments or strategic repositioning.
'As a long-term investor committed to delivering sustainable returns, PNB regularly reviews its investment portfolio for opportunities to enhance value, including potential divestments or strategic repositioning,' it reportedly said.
'All decisions are guided by a rigorous governance process aligned with our investment objectives."
PNB was also reported saying that it does not comment on market speculation or rumours, and any material developments would be announced through the appropriate channels in line with regulatory requirements.
According to Bloomberg data, merger and acquisition activity involving Malaysian companies has slumped about 46 per cent so far this year compared to the same period in 2024, with total deal value at around US$4.2 billion (RM19.7 billion).
Established in 1995, Prolintas is fully owned by PNB and operates several expressways in the Klang Valley. Its listed unit, Prolintas Infra Business Trust Bhd, which holds some of the toll highway assets, has a market value of about RM1.1 billion.
Prolintas also uses artificial intelligence and machine-learning systems to improve safety and operational efficiency.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
6 minutes ago
- The Star
Malaysia, South Korea to expand cooperation, says Anwar
Photo: Anwar Ibrahim Facebook KUALA LUMPUR: Malaysia and South Korea have agreed to continue expanding strategic cooperation in the areas of trade, investment, green transition, digitalisation, and defence, says Prime Minister Datuk Seri Anwar Ibrahim. He said the matter was discussed during a courtesy visit by South Korean President's Special Envoy Kim Young Choon, who is currently on a working visit to Malaysia. "Alhamdulillah, both countries continue to agree to expand cooperation in the fields of trade, investment, green transition, digital and defence,' he said in a post on Facebook on Wednesday (July 24). Anwar said that South Korea is now Malaysia's eighth-largest trading partner, with total trade worth US$23.94bil (RM113bil) last year. He also welcomed South Korea's intention to finalise the free trade agreement and a memorandum of understanding in the defence industry by October. Anwar said both parties also exchanged views on preparations for the 2025 Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Summit, which will be held in Gyeongju, South Korea, from Oct 31-Nov 1, the third time the country has hosted the summit after 1991 and 2005. "Malaysia supports Korea's leadership in this summit to drive a progressive and inclusive regional agenda,' he said. Anwar also extended an invitation to South Korean President Lee Jae-myung to attend the 47th Asean Summit scheduled to be held in Kuala Lumpur this October. "Malaysia remains committed to strengthening cooperation with Korea to achieve enduring regional peace and prosperity,' he said. - Bernama.
Malay Mail
6 minutes ago
- Malay Mail
Domestic Trade Ministry to expand digital monitoring to ensure 60,000 tonnes of subsidised cooking oil reach target groups, says Armizan
KUALA LUMPUR, July 23 — Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali today said the ministry is prioritising efforts to ensure the effective distribution of 60,000 metric tonnes of subsidised cooking oil each month reaches its intended recipients without leakage, before considering alternative subsidy mechanisms such as cash transfers under the SARA programme. He explained that the ministry began implementing its digital monitoring system in 2023 to track the movement of subsidised oil from packaging plants to retailers. However, the current system does not yet monitor purchases at the consumer level. 'To address this, KPDN will expand the system starting in 2025 through the rollout of eCOSS mobile application, currently being piloted under the Rahmah Sales Programme. 'This app will be integrated with data from the National Registration Department (JPN) to identify legitimate buyers and prevent purchases by ineligible groups, such as foreign nationals,' he said during the debate on the Auditor-General's Report in Parliament today. The ministry said the system will enable the government to collect detailed data on who is buying the subsidised oil, where it is being bought, and in what quantity, allowing for more accurate assessment of subsidy beneficiaries and better targeted policies. He said the government previously had no clear data on who was actually using the subsidised packet cooking oil, but with the eCOSS system and new mobile app, it will soon be able to identify subsidy recipients more accurately. In response to Pulai MP Suhaizan Kayat, the minister said that although 3.16 million households need only around 20,000 tonnes of cooking oil monthly, the 60,000-tonne allocation also covers small traders, restaurants, school canteens, hostels, and care centres. 'The original 2016 estimate of 40,000 metric tonnes, based on 1.5kg per capita, was later revised to 60,000 metric tonnes to accommodate these broader usage patterns. 'It was also noted that in 2022, even the then prime minister (Datuk Seri Ismail Sabri Yaakob) acknowledged that enforcement should not be taken against small food vendors using subsidised oil,' he explained. This, he said, reflects how the programme has expanded beyond household use in practice. He then said KPDN remains committed to curbing leakage, preventing misuse and smuggling, and ensuring that subsidies reach the people who truly need them.
Malay Mail
6 minutes ago
- Malay Mail
Anwar: Malaysia, South Korea set sights on bigger trade and defence partnership
KUALA LUMPUR, July 23 — Malaysia and South Korea have agreed to continue expanding strategic cooperation in the areas of trade, investment, green transition, digitalisation, and defence, said Prime Minister Datuk Seri Anwar Ibrahim. He said the matter was discussed during a courtesy visit by South Korean President's Special Envoy Kim Young Choon, who is currently on a working visit to Malaysia. 'Alhamdulillah, both countries continue to agree to expand cooperation in the fields of trade, investment, green transition, digital and defence,' he said in a post on Facebook today. Anwar said that South Korea is now Malaysia's eighth-largest trading partner, with total trade worth US$23.94 billion (RM113 billion) last year. He also welcomed South Korea's intention to finalise the free trade agreement and a memorandum of understanding in the defence industry by October. Anwar said both parties also exchanged views on preparations for the 2025 Asia-Pacific Economic Cooperation (Apec) Economic Leaders' Summit, which will be held in Gyeongju, South Korea, from Oct 31-Nov 1, the third time the country has hosted the summit after 1991 and 2005. 'Malaysia supports Korea's leadership in this summit to drive a progressive and inclusive regional agenda,' he said. Anwar also extended an invitation to South Korean President Lee Jae-myung to attend the 47th Asean Summit scheduled to be held in Kuala Lumpur this October. 'Malaysia remains committed to strengthening cooperation with Korea to achieve enduring regional peace and prosperity,' he said. — Bernama
