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.