KUALA LUMPUR: Tan Sri Lim Kang Hoo is exploring selling his toll road business in a deal that could value the assets at as much as RM5bil, according to sources.
Lim, the biggest shareholder of Ekovest Bhd
, is working with a financial adviser on the potential divestment of a majority holding in closely held Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd, also known as Kesturi.
Ekovest owns 60% of Kesturi, while the remaining balance is held by Employees Provident Fund (EPF).
Kesturi owns the concession for the Duta-Ulu Klang Expressway, which has three toll roads totalling 56km.
Ekovest has approval from EPF to extend an exit plan for Kesturi to February 2026, according to a filing with the stock exchange. Shares of Ekovest have fallen about 27% this year, giving it a market value of RM1.1bil. — Bloomberg
