TNB slaps Gamuda with RM39.5m summons

By KEVIN WONG

Gamuda Water Sdn Bhd, a subsidiary of Gamuda Bhd, has been issued four writs of summons by (TNB) for its failure to pay its electricity bill.

An exchange filing stated that Gamuda Water, an 80%-owned unit of Gamuda, received the four suits with a total bill of RM39.5 million on March 1.

The firm, however, said the suits will not have any significant financial and operational impact on Gamuda Group for its financial year ending July 31, 2018, since the outstanding electricity bills have been fully provided as and when they are incurred.

“Gamuda will make the appropriate announcements to Bursa Malaysia Securities Bhd as and when there are material developments thereof and/or upon receipt of the court’s decision,” the company said.

The updates on these suits, including hearing dates, will be disclosed in the quarterly results of the company.

RELATED ARTICLES

Monday, September 18, 2017

TNB starts building RM300m RE plant

Thursday, September 3, 2020

Investors seek growth thematic than dividend

Wednesday, May 15, 2019

TNB to venture into broadband business