Latest news with #Prolintas
New Straits Times
6 days ago
- Business
- New Straits Times
IJM approached to invest in Prolintas
KUALA LUMPUR: IJM Corp Bhd has been approached to invest in Permodalan Nasional Bhd's (PNB) toll road assets under Projek Lintasan Kota Holdings Sdn Bhd (Prolintas), sources said. PNB had reached out to IJM to do a due diligence on the prospect, they added. Instead of an outright sale of Prolintas to investors, they said PNB might offer Prolintas' controling stake in Prolintas Infra Business Trust, which was listed on the Main Market of Bursa Malaysia on March 25 last year. PNB reportedly was considering selling Prolintas in a deal that could be worth RM3 billion. It had reached out to potential investors, including industry players and private equity firms, to gauge initial interest. In its reply to Business Times today, PNB said: "For now, we have nothing further to share beyond what we have officially shared with Bloomberg. They have captured our official statement in their article. "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. "All decisions are guided by a rigorous governance process aligned with our investment objectives. It is PNB's policy not to comment on market speculation or rumours," it added. Prolintas operates a network of six major highways in the Klang Valley. They are Ampang-Kuala Lumpur Elevated Highway (Akleh), Guthrie Corridor Expressway (GCE), Kemuning-Shah Alam Highway (LKSA), Kajang Dispersal Link Expressway (Silk), Sungai Besi-Ulu Klang Elevated Expressway (Suke) and Damansara-Shah Alam Elevated Expressway (Dash). Four of the highway assets are parked under Prolintas Infra Business Trust, which was listed on the Main Market of Bursa Malaysia on March 25 last year. The trust manages Akleh, GCE, LKSA and Silk with Prolintas holding a controlling 51.02 per cent stake. Other notable unitholders include the Employees Provident Fund with 7.78 per cent, Urusharta Jamaah Sdn Bhd with 5.78 per cent and Lembaga Tabung Haji with 5.45 per cent. IJM, meanwhile, operates a slew of toll highways namely Lebuhraya Sungai Besi (Besraya), New Pantai Expressway (NPE), Lebuhraya Kajang-Seremban (Lekas) and West Coast Expressway (WCE). The company's toll division is currently unprofitable, but its medium to long-term outlook is bright, according to some industry observers. Once impairment and forex issues ease, IJM's core local toll operations are forecast to contribute steady, recurring income, they added. The division recorded a pre-tax loss of RM0.1 million in the year ended March 31 2025. This was primarily due to a RM54 million impairment related to the WCE and share of losses from overseas associates amounting to RM66.7 million. Last month, IJM's wholly-owned New Pantai Expressway Sdn Bhd received approval from the Works Ministry to proceed with the RM1.4 billion construction of the NPE Extension. NPE will undertake a 15-kilometre elevated highway extension, including the construction of one new toll plaza.
Free Malaysia Today
6 days ago
- Business
- Free Malaysia Today
PNB weighs US$705mil sale of toll road unit
Established in 1995 and 100% owned by Permodalan Nasional Bhd, Prolintas operates and maintains expressways in Malaysia. (Prolintas web pic) PETALING JAYA : Malaysia's state-owned asset manager is considering selling its toll road unit Projek Lintasan Kota Holdings Sdn Bhd (Prolintas) in a deal that could be worth RM3 billion (US$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 RM1.1 billion.
Malaysian Reserve
6 days ago
- 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
The Star
6 days ago
- Automotive
- The Star
PNB is said to explore sale of toll road business
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 RM3bil, 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, PNB said in an emailed statement. All decisions are guided by a rigorous governance process aligned with our investment objectives, it said. It is PNB's policy not to comment on market speculation or rumours, according to PNB. Any material developments will be communicated through the relevant channels in accordance with regulatory requirements, it said. At US$4.2bil, the volume of mergers and acquisitions involving Malaysian companies has dropped about 46% this year compared to the same period a year ago, according to data compiled by Bloomberg. 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 RM1.1bil. - Bloomberg
Malay Mail
6 days ago
- Business
- Malay Mail
PNB said to be exploring sale of Prolintas in deal worth up to RM3 billion
KUALA LUMPUR, July 15 — Malaysia's state-owned asset manager Permodalan Nasional Bhd (PNB) is considering selling its toll road unit Projek Lintasan Kota Holdings Sdn Bhd (Prolintas) in a deal that could be worth as much as RM3 billion, according to Bloomberg. 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.
