Gamuda accepts govt's offer to take over its toll concession companies


  • Business
  • Thursday, 27 Jun 2019

File pic of vehicles approaching the toll plaza on the LDP near Bandar Sunway.

KUALA LUMPUR: GAMUDA BHD said its board of directors has deliberated and voted today to accept the government's offer to acquire four highway concession companies linked to the group.

"The board of Gamuda will make the appropriate announcements in due course after the going through the relevant due process with its respective associated companies and joint venture company," the company said in a filing with Bursa Malaysia today.

The government, on June 21 has announced a RM6.2bil offer to acquire four toll concessionaires - Lingkaran Trans Kota Holdings Bhd (Litrak), Sistem Penyuraian Trafik KL Barat Holdings Sdn Bhd (Sprint), Kesas Sdn Bhd and Projek SMART Holdings Sdn Bhd.

Gamuda owns a 44% stake in Litrak, a 52% stake in Sprint, a 70% stake in Kesas and a 50% stake in SMART.

In a separate announcement, Gamuda said it made a net profit of RM176mil in teh third quarter ended April 30 on revenue of RM1.03bil.

 


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