Gamuda shares up slightly on legal suit

PETALING JAYA: Gamuda Bhd's share price was slightly up by one sen or 0.2% this morning, after its indirect 40%-owned associate Syarikat Pengeluar Air Sungai Selangor Sdn Bhd (Splash) sued Syarikat Bekalan Air Selangor Sdn Bhd (Syabas) for RM4.22 billion.
As at 11.16 am, the stock stood at RM5.13 with 173,800 shares changing hands. It has a market capitalisation of RM12.6 billion.
Yesterday, Gamuda told the stock exchange that Splash will commence legal proceedings against Syabas for all outstanding receivables owing by Syabas to Splash.
Gamuda said Splash is also seeking interest on the outstanding sum of each invoice, as well as any other reliefs deemed fit.