PNB Mulls RM3 Billion Sale of Prolintas Toll Road Unit to Boost Portfolio Value

Malaysia’s state-owned asset manager, Permodalan Nasional Bhd. (PNB), is considering selling its toll road unit, Projek Lintasan Kota Holdings (Prolintas), in a deal potentially worth RM3 billion (US$705 million). PNB is working with a financial adviser and has approached potential investors, including industry players and private equity firms, to gauge interest. However, deliberations are ongoing, and PNB may decide to keep Prolintas. The asset manager stated it regularly reviews its portfolio for value-enhancing opportunities. Prolintas, fully owned by PNB, operates expressways in Malaysia and owns 51% of Prolintas Infra Business Trust, which is listed in Kuala Lumpur.