Sunday 19 May 2024
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KUALA LUMPUR (July 23): Gamuda Bhd shares rose among Bursa Malaysia top gainers today after Gamuda said its 40% associate Syarikat Pengeluar Air Sungai Selangor Sdn Bhd and Syarikat Bekalan Air Selangor Sdn Bhd have discontinued their respective claims against each other.

On Friday, Gamuda told Bursa Malaysia : "The decision to withdraw is to facilitate negotiations on the disposal of Splash with the State Government of Selangor. The company (Gamuda) wishes to inform that a written consent for discontinuance has been filed with the High Court of Kuala Lumpur on 18 July 2018 wherein Splash and Syabas have wholly discontinued their respective claims against each other in the suit with liberty to file afresh."

Today, Gamuda shares were traded 26 sen or 7% higher at RM3.94 at 10:43am. At 10:49am, the stock changed hands at RM3.96. Splash shareholders include Sweet Water SPV Sdn Bhd and Viable Chip Sdn Bhd, both of which, own 30% each in Splash.

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