Amanat Lebuhraya Rakyat points conditional provides for Kesas, Litrak, SPRINT, SMART

KUALA LUMPUR: Gamuda Bhd‘s 70%-owned subdidiary Kesas Holdings Bhd, associates Dash Holdings Sdn Bhd and Litrak Bhd, and three way partnership Projek SMART Holdings Sdn Bhd have acquired conditional provides for the acquisition of all securities of their respective expressway concessions.

In a bourse submitting, Gamuda mentioned the businesses have acquired provides from Amanat Lebuhraya Rakyat Bhd (ALR) for Konsortium Expressway Shah Alam Selangor (Kesas), Lingkaran Trans Kota (Litrak) and Sistem Penyuraian Trafik KL Barat (SPRINT) and Stormwater Administration and Street Tunnel (SMART), on a standalone and mutually unique foundation.

Beneath the phrases of the provides, the purchases shall be primarily based on enterprise values ​​(EV) of RM1.23bil for Kesas, RM1.81bil for SPRINT, RM2.12bil for Litrak and RM313mil for SMART, for a complete EV of RM5.48bil.

The anticipated fairness worth of the property quantity to RM4.43bil of which Gamuda can have a RM2.33bil share primarily based on its efficient curiosity.

In keeping with the submitting, ALR has been mandated by the federal government to help in a proposed restructuring of sure tolled freeway concessions to absolve the federal government from paying compensation funds to the concession firms from Jan 1, 2022.

“To facilitate ALR’s mandate as set out above, ALR shall channel all accessible income and money surpluses over and above its operational wants, solely to the servicing and (doable early) settlement of its monetary money owed.

“On this method, the complete settlement of ALR’s monetary money owed would facilitate the concession(s) to be returned as early as doable, thus facilitating the doable abolishment of tolls altogether on these highways,” it mentioned.


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