KUALA LUMPUR: Ekovest Bhd has secured an extension from the Employees Provident Fund (EPF) to facilitate and implement its "exit plan” in Duta-Ulu Kelang Expressway (DUKE) concessionaire Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd (Kesturi).
Kesturi, the holder of the 54-year concessionaire for the 34-kilometre DUKE, is 40 per cent owned by EPF, while the interest of the remaining share is by Ekovest.
In a filing with Bursa Malaysia today, Ekovest said it had received approval from the EPF for a one-year extension with an automatic extension for an additional year for the "extended exit date” under the shareholders’ agreement to Feb 12, 2026.
At present, Ekovest and EPF are evaluating various viable options together to implement the exit event or any alternative plan in the parties’ best interests, according to the filing.
Previously, Ekovest said its wholly-owned subsidiary, Nuzen Corp Sdn Bhd, will dispose of 40 per cent interest in the concessionaire of DUKE to EPF for RM1.13 billion.
Ekovest said it will make the requisite announcement if there is any material development.
At 11.41 am, Ekovest shares were up two sen to 54.5 sen with 10.47 million shares traded. - Bernama