Ekovest bags extension from EPF for DUKE highway exit plan rollout

Ekovest bags extension from EPF for DUKE highway exit plan rollout

The Employees Provident Fund is granting Ekovest Bhd an extension until Feb 12, 2026.

Konsortium Lebuhraya Utara-Timur (KL), the 54-year Duta-Ulu Kelang Expressway concessionaire is 40% owned by the Employees Provident Fund, with Ekovest Bhd holding the remaining shares.
PETALING JAYA:
Ekovest Bhd has secured an extension from the Employees Provident Fund (EPF) to facilitate and implement its “exit plan” in Duta-Ulu Kelang Expressway (DUKE) concessionaire, Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd (Kesturi).

Kesturi, the holder of the 54-year concession for the 34-kilometre (km) DUKE, is 40% owned by EPF, with Ekovest holding the remaining shares.

In a filing with Bursa Malaysia today, Ekovest said it had received approval from the EPF for a one-year extension with an automatic extension for an additional year for the “extended exit date” under the shareholders’ agreement to Feb 12, 2026.

“At present, Ekovest and EPF are evaluating various viable options together to implement the exit event or any alternative plan in the parties’ best interests,” read the filing.

Previously, Ekovest said its wholly-owned subsidiary, Nuzen Corp Sdn Bhd, will dispose of 40% interest in the concessionaire of DUKE to EPF for RM1.13 billion.

Ekovest said it will make the requisite announcement if there is any material development.

As at 12.29pm, Ekovest’s share price was up by 2 sen or 3.81% at 54.5 sen, giving it a market capitalisation of RM1.6 billion.

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