MY : Gamuda - Highway asset divestment back on track?

The government is reviving its plans to acquire Gamuda’s highway assets. The potential revised offer of RM5.2bn (16% lower than 2019’s RM6.2bn) will be structured under a Highway Trust model. In our view, Gamuda may use the sales proceeds to part fund the 10-year Penang South Islands (PSI) project. There could also be a special dividend.

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