Gamuda gets time extension till Sep 3 to accept Splash sale

PETALING JAYA: Gamuda Bhd has been granted an extension of time from Pengurusan Air Selangor Sdn Bhd until Sept 3, 2018 to revert with the acceptance of the new agreement for its 40%-owned associate company Syarikat Pengeluar Air Selangor Holdings Bhd (Splash).
On Tuesday, Gamuda and Taliworks Corp Bhd were informed by Air Selangor of a cut in the bulk water supply rate for the third phase and first phase of the Sungai Selangor Water Treatment Plant (SSP) by 2 sen/m3 and 5 sen/m3, respectively.
Both Gamuda and Taliworks were initially required to revert with acceptance of the respective offers by Aug 27.
Gamuda's 80%-owned Gamuda Water Sdn Bhd had received a letter of offer dated Aug 21, 2018 from Air Selangor setting out the termination of the existing operations and maintenance agreement (OMA) of SSP3 with Splash as well as the settlement of the outstanding Gamuda Water's receivables from Splash.
Gamuda Water and Air Selangor will execute a new SSP3 OMA, which will start on the operational date until Dec 31, 2029.