KUALA LUMPUR, July 15 — Malaysia’s state-owned asset manager Permodalan Nasional Bhd (PNB) is considering selling its toll road unit Projek Lintasan Kota Holdings Sdn Bhd (Prolintas) in a deal that could be worth as much as RM3 billion, according to Bloomberg.

Bloomberg, citing people familiar with the matter, reported that PNB is working with a financial adviser on the potential divestment and has reached out to industry players and private equity firms to gauge interest.

The discussions are still ongoing and PNB could ultimately decide to retain Prolintas, the sources said.

In an emailed statement to Bloomberg, PNB said it regularly reviews its portfolio for opportunities to enhance value, including through divestments or strategic repositioning.

“As a long-term investor committed to delivering sustainable returns, PNB regularly reviews its investment portfolio for opportunities to enhance value, including potential divestments or strategic repositioning,” it reportedly said.

“All decisions are guided by a rigorous governance process aligned with our investment objectives.”

PNB was also reported saying that it does not comment on market speculation or rumours, and any material developments would be announced through the appropriate channels in line with regulatory requirements.

According to Bloomberg data, merger and acquisition activity involving Malaysian companies has slumped about 46 per cent so far this year compared to the same period in 2024, with total deal value at around US$4.2 billion (RM19.7 billion).

Established in 1995, Prolintas is fully owned by PNB and operates several expressways in the Klang Valley. Its listed unit, Prolintas Infra Business Trust Bhd, which holds some of the toll highway assets, has a market value of about RM1.1 billion.

Prolintas also uses artificial intelligence and machine-learning systems to improve safety and operational efficiency.