KUALA LUMPUR (April 30): Prolintas Infra Business Trust (KL:PLINTAS), which manages four highways in the Klang Valley, has appointed Datuk Idris Kechot as its non-independent non-executive chairman effective immediately.
Idris, 71, replaces Datuk Ikmal Hijaz Hashim, who stepped down from the board following his retirement from Projek Lintasan Kota Holdings Sdn Bhd (Prolintas), the trust’s sponsor.
In a Bursa Malaysia filing on Thursday, the trust said there were no disagreements between Ikmal and the board, and no matters requiring shareholders’ attention arising from his resignation.
According to the filing, Idris brings experience in investment management and unit trust operations, having previously held senior roles at Permodalan Nasional Bhd (PNB), including as the deputy president and group chief operating officer for asset management.
Prolintas holds a 51.02% stake in Prolintas Infra Business Trust, and is itself wholly owned by PNB.
Idris also currently sits on the board of SD Guthrie Bhd (KL:SDG), and serves as the chairman of Kumpulan Fima Bhd (KL:KFIMA) as well as chairman of Prolintas, the sponsor of the business trust.
In January 2025, Prolintas Managers Sdn Bhd, the trustee-manager of the trust, clarified that two individuals charged with graft, including Prolintas chief operating officer Rostam Shahrif Tami and a project manager, were not involved in the operations of the business trust, as the allegations were tied to the Sungai Besi-Ulu Kelang Elevated Expressway (SUKE), which is not part of the trust’s asset portfolio.
The trust’s portfolio comprises four operational highways, namely the Ampang-Kuala Lumpur Elevated Highway (Akleh), Guthrie Corridor Expressway (GCE), Kemuning-Shah Alam Highway (LKSA) and Kajang Dispersal Link Expressway (Kajang Silk).
Subsequently, in June 2025, Rostam was fined RM100,000 by the Sessions Court after pleading guilty to an alternative charge of failing to report a bribe linked to the award of work packages for the SUKE project.
Prolintas Infra Business Trust was listed in 2025 following the carve-out of the four highways from Prolintas’ portfolio, raising RM445.3 million from its initial public offering (IPO).
The two remaining highways under Prolintas are SUKE and the Damansara-Shah Alam Elevated Expressway or DASH.
Units in Prolintas Infra Business Trust closed up half a sen or 0.54% at 93.5 sen on Thursday — below its IPO price of 95 sen per unit — valuing the trust at RM1.03 billion.