Gamuda's SPLASH files suit against Syabas, seeks RM4.21b

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KUALA LUMPUR: Gamuda Bhd's associate  Syarikat Pengeluar Air Sungai Selangor Sdn Bhd (SPLASH) has started legal proceedings against Syarikat Bekalan Air Selangor Sdn Bhd (Syabas) for RM4.21bil owed.

Gamuda said on Monday its 40% owned SPLASH had served a writ together with a statement of claim on Syabas claiming the amount which was the outstanding receivables owed.

SPLASH also sought interest on the outstanding Sum of each invoice at the rate of 1% plus the base lending rate of Malayan Banking Bhd (presently at 6.90% per annum) calculated on a daily basis from the date when such invoices are due for payment until the full payment of the same.

Gamuda also said the suit would not have any significant financial and operational impact on the Gamuda group for the financial year ending July 31, 2018. 

“Gamuda group will include its share of interest on the outstanding sum in its financial statements, as and when SPLASH is awarded the interest on the outstanding sum,” it said.