Gamuda

Re: Gamuda

Postby winston » Sat Oct 12, 2019 8:09 am

vested

Budget 2020: Cabinet OKs MoF plan to take over four highways

KUALA LUMPUR: The government is going ahead with the plan to acquire four highways from GAMUDA BHD

The takeover, first announced by the Finance Ministry in June, has been approved by the Cabinet, Lim Guan Eng said in Budget 2020 speech today.

Under the plan, the government will pay RM6.2bil to acquire Shah Alam Expressway (KESAS), Damansara-Puchong Expressway (LDP), Sprint Expressway (SPRINT) and SMART Tunnel (SMART).

Gamuda is a substantial shareholder in all four highways.

The takeover will be funded via government-guaranteed borrowings.

"With the introduction of congestion charges that will be lowered by up to 30% of the present toll rates during near peak and normal hours and free during off-peak hours, this will provide a savings to the highway users nearly RM180mil a year, or RM2bil over the respective concession periods," Lim said.

There will be no extension of the existing concessions.

"The acquisition of these highways will not burden the government because the financing, operations and maintenance cost, will be entirely funded by the collection of toll and congestion charges without requiring any future funding by the government," Lim said.

Source: The Star

https://www.thestar.com.my/business/bus ... xa3EU82.99
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 105035
Joined: Wed May 07, 2008 9:28 am

Re: Gamuda

Postby winston » Mon Oct 14, 2019 11:30 am

not vested

Gamuda Berhad (GAM MK)
All At Once


Gamuda has recently made its foray into Australia via a 50%-stake acquisition in Martinus Rail, where Martinus wishes to tender for rail infrastructure projects (up to A$8b) for infrastructure development.

Meanwhile, the Cabinet has approved the takeover of Gamuda’s tolled highways and an official announcement will be made soon.

Separately, the part of proceeds from the disposal of its tolled highways will be channelled as initial funding and will be used to kick-start the ambitious PTMP.

Maintain HOLD and target price of RM3.65. Entry price: RM3.50.

Source: UOBKH

https://research.uobkayhian.com/content ... 9c8a0f7673
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 105035
Joined: Wed May 07, 2008 9:28 am

Previous

Return to E to K

Who is online

Users browsing this forum: No registered users and 1 guest