The sale will see SILK Holdings netting a gain of RM365.32 million. This confirmed The Edge Financial Daily’s report that a government-linked fund is involved in preliminary talks with SILK Holdings to buy the asset. SILK is the concession holder of the 37km Kajang Traffic Dispersal Ring Road (SILK Highway) under the concession agreement executed in October 1997 to finance, design, construct, operate, and maintain the SILK Highway for a total of a 36-year period ending July 31, 2037. This is in line with the cost of equity for comparable highway concession companies in the Asia-Pacific,” it also said. Recall that before PNB, there had been three different parties expressing their interest to buy into SILK Highway since 2014.

Source: The Edge Markets January 19, 2017 01:01 UTC