Ekovest holds a 60% share in Kesturi, with the remaining 40% owned by Malaysia's state pension fund, the Employees Provident Fund (EPF). Kesturi manages the Duta-Ulu Klang Expressway, operating three toll roads totaling 56 kilometers.
The news of a potential sale led to a surge in Ekovest’s stock, which jumped as much as 10.8%, marking its biggest intraday gain since January. Despite this increase, Ekovest’s stock has dropped 19% this year, giving the company a market valuation of RM1.2 billion.
Although Lim and Ekovest have been exploring options, the sale is not yet finalized, and they may ultimately retain the assets. According to a recent filing, Ekovest received approval from EPF to extend an exit plan for Kesturi until February 2026, allowing time to assess other strategic options.
*Video from TheEdge TV
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