PETALING JAYA, 23 May 2025 – IJM Corporation Berhad (“IJM” or “the Group”) announced today that it has received approval from the Ministry of Works for the New Pantai Highway Extension (“NPE Extension”) and the toll restructuring for the existing New Pantai Highway (“NPE”). The project will be undertaken by IJM’s Infrastructure Toll Division, which manages the Group’s highway concessions.

The 15-kilometre fully elevated NPE Extension (including directional ramps) is designed to improve connectivity, ease congestion and enhance mobility across key corridors in Klang Valley. By offering a direct alternative to city-centre routes, the highway will help shorten travel times and ease daily commutes for residents and businesses.

The NPE Extension, with a new toll plaza, will be fully funded by the concessionaire without any government funding. Construction works is expected to commence in the third quarter of 2025, with the highway targeted to be operational by 2029.

Toll restructuring of the existing New Pantai Highway entails maintaining current toll rates until the expiry of the concession period.

Enhancing urban mobility and community benefit

NPE Extension will link the Pantai Dalam Toll Plaza directly to the Jalan Istana Interchange via Jalan Syed Putra, interconnecting with three major expressways—NPE, the Sungai Besi Expressway (BESRAYA), and the upcoming Laluan Istana-Kiara Expressway (LIKE). The project also aligns with Kuala Lumpur Traffic Master Plan 2040, which prioritises highway-to-highway connections that keep through-traffic out of the city core.

This integrated network is expected to divert about 40% of existing traffic from Jalan Bangsar towards the city centre, relieving pressure on some of Kuala Lumpur’s busiest routes which expect to reduce travel time during peak hours upon completion.

Dato’ Lee Chun Fai, Group Chief Executive Officer and Managing Director of IJM, said: “This approval marks an important milestone in our efforts to improve urban mobility in the Klang Valley. NPE Extension is designed not only to disperse traffic more efficiently, but also to reduce travel time and support the everyday journeys of people and businesses by easing pressure on key city routes and complementing public transportation.”

Economic impact and smart infrastructure features

Beyond easing congestion, the project is expected to generate economic spillover benefits of approximately RM5.6 billion, unlocking growth for nearby developments such as Pantai Sentral Park and Bangsar South.

To support future-ready commuting, NPE Extension will incorporate smart infrastructure features such as Malaysia’s Multi-Lane Fast Flow (MLFF) tolling system, integrated real-time CCTV monitoring, smart street lighting and a new layby with electric vehicle fast-charging stations.

Strategic alignment and concession extension

NPE Extension also represents a brownfield extension of the Group’s existing concession asset, aligning with IJM’s strategy of expanding and enhancing its infrastructure portfolio through well-managed, synergistic developments.

Dato’ Lee added: “The extension of the NPE concession provides an ideal mechanism to responsibly finance and deliver this project. The NPE Extension also strengthens our recurring income base and fits well within our long-term strategy of managing and monetising infrastructure assets at the right time.”

The NPE Extension will be undertaken at a construction cost of approximately RM1.4 billion.

IJM remains committed to working closely with the Ministry of Works and other relevant government agencies to ensure the successful implementation of NPE Extension. The Group will continue to maintain open and transparent engagement with stakeholders throughout the project’s development.

About the New Pantai Expressway (NPE) 

The New Pantai Expressway (NPE) is a 19.6 km dual carriageway developed by New Pantai Expressway Sdn Bhd, a subsidiary of IJM Corporation Berhad. It serves as a vital link between Subang Jaya and Kuala Lumpur, easing traffic congestion along key urban corridors.

The NPE features three toll plazas—Pantai Dalam (East, West, and North), PJS 2, and PJS 5—with a total of 44 lanes to support efficient toll collection and smoother traffic flow.

A key component of the expressway is the Kuchai Link, a 1.0 km elevated one-way ramp that connects Besraya Highway to NPE, enhances the traffic dispersal within the Klang Valley’s highway network.

Another significant enhancement is the Pantai Sentral Interchange, opened on 13 December 2018. Consisting of three ramps and two at-grade roads, it improves access to Pantai Sentral Park and nearby areas such as Bangsar South and Pantai Dalam, reducing peak-hours traveling time.

The NPE is equipped with modern infrastructure including Variable Message Signage (VMS), CCTV, a Traffic Control & Surveillance Centre (TCSC), Electronic Toll Collection (ETC), lay-bys, motorcycle shelters, smart street lighting, and a Smart Highway System powered by Artificial Intelligence (AI), making it one of Malaysia’s most advanced highways.

About IJM Corporation Berhad

IJM Corporation Berhad (“IJM”), formed in 1983, today ranks as one of Malaysia’s leading conglomerates with an international footprint forged by its four core businesses: construction, property development, industry (quarrying and the manufacture of building materials) and infrastructure concessions. IJM holds leading positions across all its business divisions. Its growth is the direct result of strong leadership, dedicated employees, financial prudence and commitment to good governance and quality.

The Group presently has a market capitalisation of around RM8.72 billion and as of March 2024, the Group employed around 3,500 employees and had total assets of RM21.8 billion.

For more information, visit www.ijm.com

For media enquiries, please contact:

Ms. Mandy Chen, Corporate Communications, at mandychen@ijm.com or + 60 12 607 6121

Mr. Shane Guha Thakurta, Investor Relations, at shane@ijm.com or + 60 3 7985 8041