KUALA LUMPUR, 27 August 2025 – IJM Corporation Berhad (“IJM” or “the Group”) today announced that the Government of Malaysia and New Pantai Expressway Sdn Bhd (“NPE”), its wholly owned subsidiary, have signed a Supplemental Concession Agreement (“SCA”) for the New Pantai Highway Extension (“NPE Extension”).

The SCA formalises the 15-kilometre (km) NPE Extension and the extension of the NPE concession period, which includes the construction of a new Syed Putra Toll Plaza. The agreement was signed by Dato’ Seri Azman bin Ibrahim, Secretary-General of the Ministry of Works, on behalf of the Government of Malaysia and Dato’ Lee Chun Fai, Group CEO and Managing Director of IJM, representing NPE as the concessionaire. An event to commemorate the signing was held today at the Ministry’s headquarters, witnessed by YB Dato Sri Alexander Nanta Linggi, Minister of Works, with key stakeholders in attendance.

As part of the agreement, the Government has approved IJM’s proposal to restructure the NPE toll rates. This restructuring is expected to save the Government approximately RM191 million in compensation payments.

Smarter connections, efficient highway networks

The much-anticipated 15-km elevated NPE Extension (including directional ramps) is set to reshape how motorists travel across southern Kuala Lumpur. Starting from the Pantai Dalam Toll Plaza and stretching to Jalan Istana via Jalan Syed Putra, the extension will provide a smoother, faster route into the city centre.

By linking directly to the Jalan Istana Interchange, the NPE Extension connects three major expressways — the NPE, Sungai Besi Expressway (BESRAYA) and the upcoming Laluan Istana-Kiara Expressway (LIKE). This integration supports the Kuala Lumpur Traffic Master Plan 2040, which prioritises highway-to-highway connections to keep through-traffic out of the city core.

Designed to meet future traffic demand, the project addresses key congestion points in the Klang Valley. By providing an alternative route, the NPE Extension is expected to divert up to 40% of vehicles currently travelling from Jalan Bangsar towards the city centre, potentially reducing travel time by up to 25 minutes from Pantai Dalam to central KL.

The new alignment also complements the traffic dispersal role of the existing NPE, by easing peak- hour congestion along Jalan Pantai Dalam, Jalan Bangsar, Jalan Syed Putra and Jalan Istana while enhancing overall network efficiency and resilience.

YB Dato Sri Alexander Nanta Linggi, Minister of Works, said:

“The NPE Extension advances our efforts to improve mobility and ease congestion across the Klang Valley. Implemented under a public–private partnership model without financial support from the Government, it demonstrates the strength of private sector participation in delivering key infrastructure. Once completed, the extension will enhance connectivity between major highways, including the NPE, LIKE and BESRAYA, and support the rapid development along the Pantai Dalam–Bangsar–Lebuhraya Mahameru corridor. This project aligns with the Government’s vision for a more connected, efficient and people-centric transport network.”

Dato’ Lee Chun Fai, Group CEO and Managing Director of IJM, said:

“The signing of this Supplemental Concession Agreement marks a key step in our continuous efforts to improve connectivity across the Klang Valley. The NPE Extension will ease congestion, reduce travel times and enhance access into the city, while also supporting everyday mobility for residents and businesses in synergy with public transport. With financing secured and planning in progress, we will begin construction by the final quarter of 2025.”

Project Readiness

Construction of the NPE Extension is scheduled to commence in the fourth quarter of 2025, with completion targeted within 48 months. IJM has secured approvals from two financial institutions to provide up to RM1.4 billion in project financing, reinforcing the Group’s readiness to begin works as scheduled.

The Group will continue working closely with the Ministry of Works and relevant authorities to ensure the successful delivery of the NPE Extension, and will maintain open engagement with stakeholders throughout the project’s implementation.

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Photos and Captions:

From left: Dato' Mohd Sakeri bin Abdul Kadir, Deputy Secretary-General of the Ministry of Works; Dato’ Seri Azman bin Ibrahim, Secretary-General of the Ministry of Works; YB Dato’ Sri Alexander Nanta Linggi, Minister of Works; Dato’ Lee Chun Fai, Group CEO & Managing Director of IJM Corporation Berhad and Ts. Hajah Wan Salwani Binti Yusoff, CEO, IJM Toll Division, at the signing ceremony of the Supplemental Concession Agreement for the New Pantai Expressway (NPE) Extension, held at the Ministry of Works headquarters on 27 August 2025.

An aerial view of the New Pantai Expressway (NPE).

About the New Pantai Expressway (NPE) 

The New Pantai Expressway (NPE) is a 19.6 km highway developed by New Pantai Expressway Sdn Bhd, a subsidiary of IJM Corporation Berhad. It connects Subang Jaya to Kuala Lumpur, easing traffic along key urban corridors.

Built at a total development cost of RM1.3 billion, the NPE features three toll plazas—Pantai Dalam, PJS 2 and PJS 5, with 44 lanes to support efficient toll collection. Key upgrades include the Kuchai Link, a 1.0 km elevated ramp completed in 2017, and the Pantai Sentral Interchange, which opened in 2018 to improve access to Pantai Sentral Park, Bangsar South and surrounding areas.

The NPE is equipped with advanced infrastructure including Electronic Toll Collection (ETC), CCTV, a Traffic Control and Surveillance Centre, and a Smart Highway System powered by AI.

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 RM10.91 billion and as of June 2025, the

Group employed around 3,600 employees and had total assets of RM22.3 billion. For more information, visit www.ijm.com

For media enquiries, please contact:

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

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