Malaysian Tycoon Lim Is Said to Consider Sale of Toll Roads (1)

Malaysian tycoon Lim Kang Hoo is exploring selling his toll road business in a deal that could value the assets at as much as 5 billion ringgit ($1.1 billion), according to people with knowledge of the matter.

Lim, the biggest shareholder of Kuala Lumpur-listed Ekovest Bhd., is working with a financial adviser on the potential divestment of a majority holding in closely held Konsortium Lebuhraya Utara-Timur (KL) Sdn., also known as Kesturi, said the people, asking not to be named as the process is private. The assets may attract interest from other industry players, the people said.

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