News

Further to the announcement dated 17 January 2017 and 5 May 2025, the Board of Directors of Ekovest Berhad is pleased to announce that its subsidiary, Lebuhraya DUKE Fasa 2A Sdn Bhd (“LDF2A”), had on 6 March 2026 entered into a concession agreement with the Government of Malaysia (“Government”) in relation to the design, construction, completion, operation, management and maintenance of the Laluan Istana – Kiara Expressway (“LIKE”) (“Concession Agreement”).

Salient Terms of the Concession Agreement

i. Grant of Concession

Subject to the terms and conditions of the Concession Agreement and the Federal Roads (Private Management) Act 1984 [Act 306], the Government hereby grants to the Company, the right and authority to:-

(a) undertake the design and construction of LIKE (including the upgrading works and widening of the existing road comprised thereof);

(b) supply and install tolling and other equipment (including telecommunication equipment) at the toll gantry / toll plaza (where applicable) and manage, operate and maintain the same on the LIKE during the Concession Period (as defined below);

(c) demand, collect and retain toll for its own benefit from all vehicles liable to pay toll using the LIKE during the pre-operating period (if any) and operating period;

(d) subject to all prevailing relevant laws in respect thereof, exclusively design, construct, manage, operate and maintain the ancillary facilities during the Concession Period and to retain the income received or receivable and derived therefrom;

(e) operate, manage and maintain (including but not limited to, utility charges incurred thereby) the LIKE during the Concession Period;

(f) operate, manage and maintain the administrative office; and

(g) undertake all other activities incidental to the performance of the works referred to in the Concession Agreement.

ii. Concession Period

The Concession Period shall be for a period of fifty-four (54) years commencing from the effective date and ending on fifty-fourth (54th) anniversary of the effective date.

iii. Estimated Construction Costs

The estimated total construction costs for the LIKE is approximately RM2.32 billion.

Financial effects

The Concession Agreement is expected to contribute positively to future earnings and the net tangible assets of Ekovest Berhad Group. The construction cost is expected to be financed via a combination of internally generated funds, borrowings and/or other fund raising exercise.

Directors’ and Substantial Shareholder’s interest

None of the Directors and/or major shareholders of Ekovest and/or persons connected with the Directors and/or major shareholders of Ekovest have any interest, either direct or indirect, in the Concession Agreement.

Statement by the Board of Directors

The Board of Ekovest is of the opinion that the Concession Agreement is in the best interest of the Company.

This announcement is dated 6 March 2026.