Malaysia's PNB is said to explore sale of toll road business
(Bloomberg) — 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 RM3 billion ($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, 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$4.2 billion, the volume of mergers and acquisitions involving Malaysian companies has dropped about 46 per cent 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 per cent of Prolintas Infra Business Trust Bhd, a Kuala Lumpur-listed company that owns some highways and has a market value of RM1.1 billion.
More stories like this are available on bloomberg.com
©2025 Bloomberg L.P.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
9 minutes ago
- Yahoo
KKR in talks to buy ST Telemedia Global Data Centres, Bloomberg News reports
(Reuters) -KKR is in talks to buy ST Telemedia Global Data Centres in a deal that could value the Asian digital infrastructure provider at more than $5 billion, Bloomberg News reported on Saturday, citing people familiar with the matter. Reuters could not immediately verify the report.
Yahoo
22 minutes ago
- Yahoo
Japan says $550 billion package in trade deal could finance Taiwanese chipmaker in US
By Makiko Yamazaki TOKYO (Reuters) -Japan's $550 billion investment package agreed in this week's U.S. tariff deal could help finance a Taiwanese firm building semiconductor plants in the U.S., Japan's top trade negotiator Ryosei Akazawa said on Saturday. Japan agreed to the sweeping U.S.-bound investment initiative, which includes equity, loans and guarantees, in exchange for lower tariffs on its exports to the U.S. However, the structure of the scheme remains unclear. "Japan, the United States, and like-minded countries are working together to build supply chains in sectors critical to economic security," Akazawa told public broadcaster NHK. To that end, he said projects eligible for financing under the package are not limited to U.S. or Japanese firms. "For example, if a Taiwanese chipmaker builds a plant in the U.S. and uses Japanese components or tailors its products to meet Japanese needs, that's fine too," he said, without specifying companies. The U.S. is significantly reliant on Taiwan's TSMC ( for advanced chip manufacturing, raising economic security concerns due to geographic proximity to China. TSMC announced plans for a $100 billion U.S. investment with President Donald Trump at the White House in March, on top of $65 billion pledged for three plants in the state of Arizona, one of which is up and running. Japan will use state-owned Japan Bank for International Cooperation (JBIC) and Nippon Export and Investment Insurance (NEXI) for the investments. A recent law revision has enabled JBIC to finance foreign companies deemed critical to Japan's supply chains. Akazawa told NHK that equity investment would account for just about 1-2% of the $550 billion, suggesting that the bulk will come in the form of loans and guarantees. When asked about the White House statement that the U.S. would retain 90% of the profits from the package, he clarified that the figure refers only to returns on equity investment, which would represent a small fraction of the total. While Japan initially hoped to secure half of the returns, a loss from the concession on the profit-sharing would be marginal compared to the roughly 10 trillion yen ($67.72 billion) in tariff costs that could be avoided under the deal, he said. He added that Japan aims to deploy the $550 billion investments during Trump's current term. ($1 = 147.6600 yen) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
39 minutes ago
- Yahoo
Genworth (GNW) Surges 9% as Firm Expects $750-Million Additional Cash
We recently published . Genworth Financial, Inc. (NYSE:GNW) is one of the best-performing stocks on Friday. Genworth Financial saw its share prices rally by 8.99 percent on Friday to end at $8 apiece as investors cheered a UK court's favorable ruling to insurance giant AXA that could help the former recoup $750 million in cash payments. The case stemmed from the mis-selling of payment protection insurance (PPI) before 2005 by GE Capital Bank, which was acquired by Santander in 2009, that resulted in AXA's losses related to more than 650,000 individual customer complaints about PPI policies. AXA, which inherited the liabilities for its acquisition of two subsidiaries of Genworth Financial, Inc. (NYSE:GNW), paid almost 5700 million pounds worth of redress to consumers and compensated complaints. The UK judge eventually ruled that AXA 'has a valid claim for an indemnity' against Santander in relation to the redress payments and ombudsman fees. For its part, Genworth Financial, Inc. (NYSE:GNW) is entitled to receive $750 million as part of its agreement with AXA as soon as the latter recovers losses. 'Genworth plans to deploy any recoveries in line with our stated capital allocation priorities: investing in growth through CareScout, returning cash to shareholders through our buyback program, and opportunistically paying down debt,' the company said. While we acknowledge the potential of GNW as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the .
