KUALA LUMPUR, Nov 7 — Tan Sri Lim Kang Hoo is said to be considering the sale of his toll road business, which could be valued at up to RM5 billion.
Sources familiar with the matter told Bloomberg today that Lim is collaborating with a financial adviser on the potential sale of a majority share in privately held Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd, or Kesturi.
The property and construction magnate holds the largest stake in Kuala Lumpur-listed Ekovest Bhd, which owns 60 per cent of Kesturi, with the remaining stake held by the Employees Provident Fund (EPF).
Discussions are ongoing, and it remains possible that Ekovest could retain the assets, the sources added.
Representatives from Lim, Ekovest, and Kesturi declined to comment when contacted by Bloomberg.
Kesturi holds the concession for the Duta-Ulu Klang Expressway (Duke), which includes three tolled roads spanning 56 kilometres.
Ekovest has received approval from EPF to extend the exit plan for Kesturi until February 2026, with both parties evaluating various potential options, according to a stock exchange filing.
Ekovest’s shares have dropped by around 27 per cent this year, bringing its market value to RM1.1 billion.
