Independent valuation on Splash to be ready in Jan 2017

KUALA LUMPUR: An independent valuation on the price tag of Gamuda Bhd's stake in water concessionaire Syarikat Pengeluar Air Sungai Selangor Sdn Bhd (Splash) is expected to be completed in January 2017.
Gamuda group managing director Datuk Lin Yun Ling said he welcomes the independent valuation carried out by an international expert, which was appointed by the government.
"This (Selangor water restructuring issue) has dragged on for eight to nine years. We just want to have a closure that's fair to both sides so that we can move on," he told a press conference after the group's AGM here today.
The state government had offered RM250.6 million to buy out Gamuda's 40% stake in Splash, as part of its water restructuring plan. The offer was however turned down by Gamuda, reasoning that it would result in billion ringgit worth of divestment losses.