ALR sukuk repayments top RM2.149 billion, with highway return possible by 2033
The not-for-profit operator projects that accumulated surpluses could allow it to settle its remaining obligations five years before the final maturity date.
Amanat Lebuhraya Rakyat Berhad (ALR) has paid more than RM2.149 billion in sukuk principal and profit, its group chief executive officer Muhammad Nizam Alias said on October 21. The Malaysian highway operator projects that it could repay the remaining obligations by 2033, allowing four Klang Valley highways to be handed back to the government early.
Speaking at SMART headquarters in Kuala Lumpur, Muhammad Nizam said the October 13, 2026 payment totalled RM513.8 million: RM390 million in principal and RM123.8 million in profit. Cumulative payments had reached RM1.021 billion in April 2025.
The Sustainability Sukuk Murabahah Programme has total principal and profit obligations of RM7.935 billion. Muhammad Nizam said its final maturity falls in 2038, but projected annual surpluses could enable a lump-sum settlement of the outstanding amount by 2033.
The highways involved are Kesas, Lebuhraya Damansara-Puchong (LITRAK), the Western Kuala Lumpur Traffic Dispersal Scheme (SPRINT) and the Stormwater Management and Road Tunnel (SMART). Once they are returned, the government could decide whether to retain nominal tolls or remove charges, he said.
ALR issued RM5.5 billion of sukuk on October 13, 2022 to acquire the four highway concessionaires. Muhammad Nizam said the purchases involved neither public funding nor a government guarantee.
The company said it pays no shareholder dividends, directing net operating income towards debt servicing and asset management. Toll charges will stay at existing gazetted rates for the duration of the concessions, with surplus revenue used to repay financing early.
