KUALA LUMPUR: Ekovest Bhd is currently looking at funding options to finance its future highway projects, including possible divestments of some assets to institutional funds or the listing of its highway unit.
The listing, which reportedly could raise higher than US$500 million (RM2.12 billion), is expected to be implemented, earliest in 2019.
Managing director Tan Sri Lim Keng Cheng said this is part of its masterplan, called the Duke Masterplan as it sees more room for highway growth in the Greater Kuala Lumpur.
“We are currently exploring the option to list our highway unit. But we will look at the value first.
"If the value is good then we will proceed. If this happens, we can build more highways," he said.
He added that Ekovest had conducted the study on the whole highway system of the Greater Kuala Lumpur.
“There is a need for more highways and we are looking at 10 potential alignments to make it easy for people to get in and out of Kuala Lumpur.
"So, listing of our highway would be a good choice to raise funds, possibly earliest in 2019,” Lim said in an interview on the sidelines of Invest Malaysia 2018 here today.
He said the other option is to dispose of certain stakes of its highway unit to institutional funds.“If this happens, then we will have to defer the listing plan,” he added.