From The Top

MPTC Sells Shares in Thailand’s DMT

by Junne Grajales

MPTC has recently sold off its 29.4% share in Don Muang Tollway (DMT) Public Co. Ltd., a Thai toll road concessionaire and operator.

MPTC’s subsidiary, FPM Tollway (Thailand) Ltd., unloaded its interest in Thailand’s AIF Toll Roads Holdings Co. Ltd., which holds a minority share in the toll road operator, DMT.

Don Muang Tollways (DMT) is a Thai toll road firm that manages a toll road from central Bangkok to Don Muang International Airport and the north of Bangkok, Thailand.

MPTC Chief Business Development Officer Francis Rojas acknowledged that DMT was a good investment in that it generated consistently good earnings, but prospects for future growth were limited. “The asset is already a mature toll road with no foreseeable expansion opportunities because it is sandwiched between existing roads in the middle of an urban area on the way to the old airport,” he explained.          

MPTC has utilized the increased interest from third parties to buy MPTC’s shares in DMT. The sale raised more than PHP 7 billion, which will be used to fund MPTC’s other tollway projects.


MPTC’s exit from Thailand’s DMT will allow MPTC to benefit from the increased liquidity and is a move to strengthen the company’s balance sheet.

The shares were sold to buyers that consist of current DMT shareholders and investors who are involved in different business ventures in Thailand. The purchase price was established after considering AIF Toll Road’s interest in DMT, the asset value of DMT, and the previous proposal received by both FPM Tollways and MPTC.

“We pursue a policy of bringing our standard of excellence in toll roads to the rest of the ASEAN region, and Indonesia and Vietnam are good investment destinations, to begin with. We intend to play our role as a partner to like-minded companies in helping contribute to their respective countries’ economic development,” said Mr. Rojas.

MPTC’s major investments in its ASEAN partners include a 76.31% share in PT Nusantara Infrastructure of Indonesia and 44.90% share in CII Bridges & Roads of Vietnam.

DMT is a 21.9-kilometer elevated toll road in Thailand’s capital, Bangkok. MPIC first invested in DMT in 2013. MPTC later acquired DMT in 2016 to expand our infrastructure projects in Southeast Asia.


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