PETALING JAYA: Gamuda Bhd
’s intended purchase of the 70% stake it does not already own in highway concession company Kesas Holdings Bhd will help the former mitigate its potential earnings loss from its eventual disposal of Syarikat Pengeluar Air Selangor Holding (Splash).
An industry observer said negotiations to sell Splash was expected to start this month and that the purchase of the balance stake in Kesas would give recurring income to Gamuda.
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