Latest news with #ProLintas
Yahoo
15-07-2025
- Business
- Yahoo
Malaysia's PNB is said to explore sale of toll road business
By Elffie Chew (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 ©2025 Bloomberg L.P.
The Sun
25-06-2025
- The Sun
ProLintas COO fined RM100,000 for not reporting RM90,000 bribe linked to SUKE project
KUALA LUMPUR: ProLintas chief operating officer Rostam Shahrif Tami was fined was today fined RM100,000 by the Sessions Court here for failing to report a bribe he received two years ago in connection with the Sungai Besi-Ulu Kelang Elevated Expressway (SUKE) project. Judge Rosli Ahmad imposed the maximum fine on Rostam Shahrif, 59, after he pleaded guilty to an alternative charge and ordered him to serve 10 months in jail if he failed to pay the fine. The court also ordered funds seized from the accused, including RM114,000 in bonds, RM658,750 in cash, RM180,000 from a Tabung Haji account, and foreign currency, be forfeited to the government. Rostam Shahrif was charged with failing to report a RM90,000 bribe received from Syarikat Satunas Technologies Sdn Bhd through Mohd Rosman Alias as an inducement in his capacity as the superintending officer's representative for the SUKE privatisation project, to award the company a contract titled ' To Construct End Cap Stressing And Shear Block'. The offence was allegedly committed at a restaurant in Bandar Kinrara, Puchong, on Feb 20, 2023, under Section 25(1) of the Malaysian Anti-Corruption Commission (MACC) Act 2009 and is punishable under Section 25(2) of the same Act, which provides for a fine of up to RM100,000, a maximum jail term of 10 years, or both, upon conviction.
The Star
25-06-2025
- Business
- The Star
Prolintas COO fined RM100,000 for not reporting RM90,000 bribe linkted to SUKE project
KUALA LUMPUR: ProLintas chief operating officer Rostam Shahrif Tami was fined was fined RM100,000 on Wednesday (June 25) by the Sessions Court here for failing to report a bribe he received two years ago in connection with the Sungai Besi-Ulu Kelang Elevated Expressway (SUKE) project. Judge Rosli Ahmad imposed the maximum fine on Rostam Shahrif, 59, after he pleaded guilty to an alternative charge and ordered him to serve 10 months in jail if he failed to pay the fine. The court also ordered funds seized from the accused, including RM114,000 in bonds, RM658,750 in cash, RM180,000 from a Tabung Haji account, and foreign currency, be forfeited to the government. Rostam Shahrif was charged with failing to report a RM90,000 bribe received from Syarikat Satunas Technologies Sdn Bhd through Mohd Rosman Alias as an inducement in his capacity as the superintending officer's representative for the SUKE privatisation project, to award the company a contract titled "To Construct End Cap Stressing And Shear Block". The offence was allegedly committed at a restaurant in Bandar Kinrara, Puchong, on Feb 20, 2023, under Section 25(1) of the Malaysian Anti-Corruption Commission (MACC) Act 2009 and is punishable under Section 25(2) of the same Act, which provides for a fine of up to RM100,000, a maximum jail term of 10 years, or both, upon conviction. - Bernama
