KUALA LUMPUR (July 28): Ranhill Utilities Bhd said it has received a letter of acceptance from the mayor of Bandung for its proposal to build, operate and transfer a water treatment plant in the Indonesian city, subject to negotiations with the relevant government agencies. 

In a filing with Bursa Malaysia, Ranhill said upon conclusion of the negotiations, Ranhill will execute the project agreement with the relevant parties.

The group will be involved in the operations and maintenance of the 30-million-litre-a-day treatment plant for 30 years, with the water tariff set at 3,200 rupiah per cubic metre.

Ranhill said the project will not have any material effect on its earnings, net assets and gearing for its current financial year ending Dec 31, 2020. 

Ranhill’s share price closed 5.5 sen or 6.18% higher at 94.5sen today, bringing the group a market capitalisation of RM1.01 billion. Some 3.78 million shares were traded.