“Compelled” to make an offer. Gamuda’s 40%-owned water concessionaire Splash has offered to take over all water assets in the Klang Valley for RM10.75bn. It said that it was “compelled” to make the offer “to bring closure to the more-than-3-year impasse” that resulted in “breaches in payments that had triggered cross-defaults across the industry”. It believed that the operations of the players had already been adversely affected by cashflow problems.
Gamuda Berhad : Splash Offers To Take Over Klang Valley Water Assets For RM10.75bn -25/03/2010
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