Gamuda says SPLASH discussing KDEB’s RM1.83b offer

  • Business
  • Friday, 22 Nov 2013

KUALA LUMPUR: Gamuda Bhd’s 40% owned Syarikat Pengeluar Air Selangor Holdings Bhd (SPLASH Holdings) is deliberating on the RM1.83bil takeover offer from the Selangor State Government.

Gamuda said on Friday that an appropriate announcement would be made to Bursa Malaysia Securities Bhd in due course on the outcome of the deliberation.

Under the consolidation of the Selangor water industry, the Selangor State Government-owned Kumpulan Darul Ehsan Bhd (KDEB) had on Thursday offered to purchase  100% of SPLASH Holdings.

SPLASH Holdings is the holding company of Syarikat Pengeluar Air Sungai Selangor Sdn Bhd .

The estimated value of RM1.83bil is based on the water assets to be acquired by Pengurusan Aset Air Bhd at RM1.548bil and equity contribution plus return on equity at 12% per annum of RM250.60mil.

However, the total value of SPLASH equity might be revised following the due diligence inquiry to be undertaken.

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