PROLINTAS INFRA BT OFF TO A STRONG START IN 2024 WITH Q1 REVENUE OF RM76.5 MILLION, ON TRACK TO ATTAIN ANNUAL FORECAST
Kuala Lumpur, 24 May 2024 – Prolintas Infra Business Trust (“Prolintas Infra BT” or the “Trust”) achieved 99% of the forecasted revenue for its first quarter ended 31 March 2024 (“Q1FY2024”), recording a total revenue of RM76.5 million.
This steady revenue performance was primarily due to a rise in overall traffic volume. As of Q1FY2024, the Trust recorded total toll collection of RM75.4 million equivalent to 99% from the total forecasted revenue, whereas various non-toll revenue streams contributed a total of RM0.4 million.
Sistem Lingkaran Lebuhraya Kajang (“SILK”) recorded the highest collection contributing 45% of the total toll collection (RM33.8 million), followed by Guthrie Corridor Expressway (“GCE”) contributing 29% (RM21.9 million); whereas Lebuhraya Kemuning–Shah Alam (“LKSA”) and Ampang–Kuala Lumpur Elevated Highway (“AKLEH”) contributed 14% (RM10.8 million), and 12% (RM8.8 million) respectively for the quarter.
The Trust registered a profit from operations of RM41.5 million in Q1FY2024, after accounting for all operating expenses. The Trust Group’s profit after tax (“PAT”) was RM2.1 million, exceeding the forecast for the quarter.
Chief Executive Officer of Prolintas Managers Sdn Bhd – the Trustee Manager for Prolintas Infra BT, Malik Parvez Ahmad Nazir Ahmad, expressed a positive outlook on the Trust’s prospects moving forward.
“The revenue performance indicates the Trust is on track with its distribution policy, achieving a distributable amount of RM16.7 million as of Q1FY2024. We aim to pay out at least 90% of the distributable amount to unitholders annually,” he said.
Prolintas Infra BT is Malaysia’s first listed Islamic business trust on Bursa Malaysia which comprises of four highways assets namely,AKLEH, GCE, LKSA, and SILK. Prolintas Infra BT is set to offer its unitholders a unique proposition of sustainable distributions underpinned by the long-term stability of strategically located highways in high-traffic and densely populated areas in the Klang Valley.
-Ends-