Prolintas Infra shares down more than 3.3% amid bribery probe

PROLINTAS Infra Business Trust’s share price opened lower after its trustee manager Prolintas Managers Sdn Bhd’s personnel were arrested by the Malaysian Anti-Corruption Commission (MACC) for alleged bribery related to two highway contracts valued at over RM1.6 billion.

By 10.20am, the stock price had fallen by 3.3% to 88 sen, down from its previous closing price of 91 sen.

Last night, the highway concessionaire confirmed three senior managers have been arrested by the MACC in a graft investigation.

In a statement, the company, which runs six tolled highways, said it would fully cooperate with the authorities in their investigation.

“Prolintas is aware that our personnel have been remanded by MACC to assist in an ongoing investigation relating to a construction (contract).

“Prolintas continues to be committed to maintaining the highest levels of integrity and corporate governance,” it said.

Prolintas Managers said the board is of the view that there will be no financial and operational impact on Prolintas Infra operations.

Prolintas Infra was the first listed business trust in Malaysia that is shariah-compliant. 

It has four income-generating highway assets, namely the Ampang-Kuala Lumpur Elevated Highway, Guthrie Corridor Expressway, Lebuhraya Kemuning-Shah Alam, and Sistem Lingkaran Lebuhraya Kajang under its portfolio. 

The company was listed on March 25 this year. – June 26, 2024.