KUALA LUMPUR: Gamuda Bhd saw its share price slip at mid-afternoon today after news that the Cabinet would finalise its decision next week on the takeover of four highway concessions majority-owned by the company.
The four are Shah Alam Expressway (Kesas), Damansara-Puchong Expressway (LDP), Western KL Traffic Dispersal Scheme (Sprint) and the SMART Tunnel.
At 4pm, Gamuda’s share price shed one sen, or 0.26%, to RM3.87 from RM3.88 last Friday, after opening two sen higher at RM3.90 this morning.
Finance Minister Lim Guan Eng reportedly said the Cabinet would finalise its decision on the proposed takeover of PLUS Malaysia Bhd and four other highway concessions owned by Gamuda next week.
According to reports, the minister said the decision must be made quickly to avoid increasing the compensation sum to be paid to the toll operators by freezing toll rates.
“The Cabinet decision on PLUS will be made by next week. Since we have already frozen toll hikes this year, we will need to come up with compensation. We need to decide quickly; otherwise, the compensation will keep on mounting,” Lim was quoted as saying. – Dec 30, 2019 Bernama
