The North-South Expressway (NSE) is an undoubted jewel in corporate Malaysia. Since construction started in the 1980s, the continued expansion of the NSE has seen its reach expand, and in the process, its toll collection balloon.
The highway was a centrepiece for the Renong Group, where its financial muscle was used to buffer the sustainability concerns of its then-parent. Its huge free cashflow also subjected it to takeover proposals until it was finally bought up by UEM Group Bhd and the Employees Provident Fund (EPF) in 2012 in what was the largest corporate deal in Malaysia.
