15-07-2025
- Business
- Malaysian Reserve
Malaysia's PNB said to weigh US$705m sale of toll road unit
MALAYSIA'S state-owned asset manager is considering selling its toll road unit Projek Lintasan Kota Holdings Sdn. in a deal that could be worth 3 billion ringgit ($705 million), people with knowledge of the matter said.
Permodalan Nasional Bhd., also known as PNB, is working with a financial adviser on the planned divestment, said the people, asking not to be identified as the process is private.
PNB has reached out to potential investors including industry players and private equity firms to gauge initial interest, the people said.
Deliberations are ongoing and PNB could still opt to keep Prolintas, as Projek Lintasan is known, the people said.
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, a representative for PNB said in response to a query from Bloomberg News, declining to comment on the specific divestment.
Established in 1995 and 100% owned by PNB, Prolintas operates and maintains expressways in Malaysia, according to its website. The company's portfolio also includes urban highways in the Klang Valley. It has also introduced an artificial intelligence and machine-learning system to improve operational efficiency and safety.
Prolintas owns 51% of Prolintas Infra Business Trust Bhd., a Kuala Lumpur-listed company that owns some highways and has a market value of 1.1 billion ringgit. — BLOOMBERG
