KUALA LUMPUR, 28 August 2025 — IJM Corporation Bhd has officially confirmed submitting a proposal to acquire Permodalan Nasional Bhd’s (PNB) highway assets, including key toll road concessions currently held under Projek Lintasan Kota Holdings Sdn Bhd (Prolintas), which includes major highways like SUKE and DASH, as well as a 51% stake in Prolintas Infra Business Trust.
Group CEO Datuk Lee Chun Fai shared that IJM was invited to participate in the Request for Proposal (RFP), but noted that no decision has been made yet: “We were invited and we participated in the RFP, but there’s no decision yet,” he said after the company’s Annual General Meeting.
This marks a strategic expansion for IJM, already a dominant player in urban tollway operations through its existing concessions—including Sungai Besi Expressway, New Pantai Expressway (NPE), and Kajang-Seremban Highway—and a 28.12% stake in WCE Holdings.
Earlier this year, IJM secured a supplemental concession agreement to build a 15 km elevated extension of NPE, valued at RM1.4 billion, with the concession extended to 2057—further solidifying its infrastructure footprint.
Meanwhile, PNB is said to be assessing whether to divest, retain, or bring on a strategic partner for these assets—currently valued, at enterprise level, at approximately RM3 billion. Other bidder interest reportedly includes AFA Prime Bhd, operator of KL–Karak and East Coast Expressway Phase 1.
Securing PNB’s highway assets would give IJM significant urban tollway scale—potentially reshaping the company’s long-term growth trajectory. Alongside its ongoing NPE extension, this move strengthens IJM’s role as a key infrastructure player in Klang Valley and beyond. For The Ledger Asia audience, this development is a critical signal of consolidation and strategic positioning in Malaysia’s infrastructure landscape.
