Gamuda Water has until Aug 27 to accept Air Selangor offer to takeover Splash

  • Corporate News
  • Tuesday, 21 Aug 2018

A worker checking a SPLASH water treatment plant.

KUALA LUMPUR: Gamuda Bhd has received a letter of offer from Air Selangor, the state owned company, to takeover Syarikat Pengeluar Air Sungai Selangor Sdn Bhd (Splash).

Gamuda, through unit Gamuda Water, owns 40% in Splash’s parent company - Syarikat Pengeluar Air Selangor Holdings Berhad (Splash Holdings).

Gamuda told Bursa Malaysia in a filing on Tuesday that the letter from Air Selangor sets out the terms for the termination of the existing operations and maintenance agreement of the Sungai Selangor Water Treatment Plant Phase 3 (SSP3 OMA) between Gamuda Water and Splash.

It also includes the settlement of the outstanding Gamuda Water’s receivable from Splash, as well as the execution of a new SSP3 OMA between Air Selangor and Gamuda Water.

Gamuda Water has until Aug 27 to accept the offer.

In an earlier announcement on Aug 3, Gamuda said Air Selangor has offered to acquire Splash for RM2.55bil.

Air Selangor has been identified by the state government as the entity to take over the water supply and distribution services in Selangor, Kuala Lumpur and Putrajaya.
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