PETALING JAYA: Maybank Investment Bank Research (Maybank IB) has upgraded Ranhill Utilities Bhd
to a “hold” after its 80%-owned unit, Johor state water operator Ranhill SAJ Sdn Bhd (RSAJ), raised water tariffs.
Effective Aug 1, RSAJ raised tariffs – particularly for non-domestic users – with the rate for usage below 35 cubic m (m³) increased to RM4.15/m³ from RM3.15/m³, and above 35 m³ to RM5.30/m³ from RM3.55/m³.
