KUALA LUMPUR: 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 3.30 per cent to 88 sen, down from its previous closing price of 91 sen.
In a filing with the stock exchange, Prolintas Managers acknowledged that some board members had been remanded by the MACC to aid in an investigation.
"The individuals concerned have been given leave of absence commencing from June 26 2024.
"Prolintas Infra will continue its business as usual with an interim executive management team led by Datuk Ikmal Hijaz Hashim, the non-independent non-executive chairman of Prolintas Managers who has vast experience in the highway industry.
"The combined expertise of the said executive management team will ensure that the stewardship of the trust will continue smoothly," it said.
Prolintas Managers said the board is of the view that there will be no financial and operational impact on Prolintas Infra operations
"The board will make further announcements as and when there are any developments in relation thereof.
"Prolintas Managers continues to be committed to maintaining the highest levels of integrity and corporate governance," the statement said.
Prolintas Infra was the first listed business trust in Malaysia that is Shariah-compliant.
It has four income-generating highway assets, namely Ampang-Kuala Lumpur Elevated Highway (AKLEH), Guthrie Corridor Expressway (GCE), Lebuhraya Kemuning-Shah Alam (LKSA), and Sistem Lingkaran Lebuhraya Kajang (SILK) under its portfolio.
The company was listed on March 25 this year.