Friday 29 Mar 2024
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KUALA LUMPUR (March 9): Tenaga Nasional Bhd (TNB) has slapped Gamuda Bhd's water unit with four writs of summons together with statements of claim for failing to pay its electricity bills, Gamuda said today.

Gamuda Water Sdn Bhd, an 80%-owned unit of Gamuda, received the four suits — with electricity bills totalling RM39.51 million — on March 1, said Gamuda in a filing with Bursa Malaysia

TNB is also claiming an annual interest of 5% on the claims, to be calculated from Jan 31, 2018 to the date of full settlement by Gamuda Water, costs and other relief deemed fit by the Shah Alam High Court.

However, Gamuda said "the outstanding electricity bills have been fully provided as and when they are incurred".

"The TNB suits will not have any significant financial and operational impact on the Gamuda group for the financial year ending July 31, 2018 (FY18)," it added.

The cases will be managed on March 29 and April 19.

At 2pm, shares of Gamuda slipped 1 sen to RM4.96 for a market capitalisation of RM12.19 billion.

 

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