For today’s thread, I want to talk about Prolintas. 
PNB has been expanding and diversifying our investment portfolio, venturing into new asset classes. Apart from public markets, we also diversified into private markets, which make up 2.4% of our portfolio as of 2019. The aim is to go up to 6.5% by 2022.
Our Private Markets Division manages PNB Group’s private equity investments via 1) Direct and 2) Global Fund investments strategies;
to pursue investment/divestment, creating value from the investments, and act as investment incubator, and gain expertise and knowledge from partnering with global asset managers.
Projek Lintasan Kota Holdings (Prolintas), a wholly owned PNB subsidiary that focuses on infrastructure developments, falls under Direct Investments. I am currently the Chairman of this company.
Prolintas is the second largest highway concessionaire in Malaysia (after PLUS), based on mainline length. With the completion of SUKE and DASH, the length will be 126.1km.
Prolintas is an investment holding company which has 6 subsidiaries that engage in the construction, operating, maintenance and toll collection of highways. These subsidiaries and their highways are: Projek Lintasan Kota Sdn Bhd (AKLEH), Prolintas Expressway Sdn Bhd (GCE);
Projek Lintasan Shah Alam Sdn Bhd (LKSA), Sistem Lingkaran-Lebuhraya Kajang Sdn Bhd (Kajang Silk), Projek Lintasan Sungai Besi-Ulu Klang Sdn Bhd (SUKE) and Projek Lintasan Damansara-Shah Alam Sdn Bhd (DASH).
AKLEH, GCE, LKSA and Kajang Silk are the highways that are currently operating, while SUKE and DASH are highways that are currently under development.
Construction became a significant business for PNB since the acquisition of PERNAS Construction and Panelex in 1984. PNB became a major player in the 1990s through the development of several highway projects.
By 2006, PNB’s infrastructure assets were regrouped under Prolintas, to concentrate our efforts, among others, to help spur the economy through infrastructure projects and benefit the nation directly.
In the same year, Prolintas entered into agreements to acquire the Guthrie Corridor Expressway (GCE) as well as winning a concession for the construction and operation of the Kemuning-Shah Alam Highway (LKSA) from the Malaysian Government.
This three-lane highway followed on from the existing Ampang-Kuala Lumpur Elevated Highway project, turning Prolintas into PNB’s flagship infrastructure project company and key expressway concession operator in the Klang Valley.
In 2011, Prolintas received approval from the Malaysian Government for the Build, Operate and Transfer (BOT) of two new highways, namely the 20.1km Damansara-Shah Alam Highway (DASH) and the 24.5km Sungai Besi-Ulu Klang Elevated Expressway (SUKE).
Kajang SILK Highway was included in Prolintas’ stable of highways via an acquisition that was completed in 2017.
These infrastructure assets are cash generative and provide us with good recurring income. Very important for us to continue diversifying into different segments under our private markets group.
PNB and Prolintas have plans on value creation that would further enhance the growth of the company. Our new highways will have newer designs and fresh retail concepts. All of this will be unveiled in due time.
