SPLASH serves writ, statement of claim on Syabas

(Bernama) – Syarikat Pengeluar Air Sungai Selangor Sdn Bhd (SPLASH) has served a writ, together with a statement of claim, on Syarikat Bekalan Air Selangor Sdn Bhd (Syabas), claiming all outstanding receivables owed by SYABAS which amounted to RM4.22 billion.

SPLASH is a 40 per cent subsidiary of Gamuda Bhd.

In a filing to Bursa Malaysia today, Gamuda said, the claims also included interest on the outstanding sum of each invoice at the rate of 1.0 per cent, plus the base lending rate of Malayan Banking Bhd (presently at 6.90 per cent per annum) calculated on a daily basis from the date when such invoices were due for payment until the full payment of the same, costs and any other reliefs deemed fit and just by the Kuala Lumpur High Court.

“SPLASH’s suit will not have any significant financial and operational impact on the Gamuda Group for the financial year ending July 31, 2018.

“Gamuda Group will include its share of interest on the outstanding sum in its financial statements, as and when SPLASH is awarded the interest on the outstanding sum,” it said.