YESTERDAY’S deadline to finalise details of Putrajaya’s proposed acquisition of four Gamuda Berhad toll concessionaires, has been extended for another two months, with the latest completion date set no later than March 31.

The Edge reported that Hong Leong Investment Bank Berhad, acting as spokesman for Gamuda’s board of directors, said that Minister of Finance (MoF) Inc and each of the concession holding companies have agreed to the extension.

Finalisation of the terms of the definitive agreements has now been moved from October 31 to December 31, Gamuda said in a filing to Bursa Malaysia today.

“Save for the aforementioned extensions, all other terms contained in the offers shall continue to be in full force and effect,” the company said.

Finance Minister Lim Guan Eng yesterday said Putrajaya had yet to set a timeframe for its takeover of the four concessionaires.

In June, MoF Inc offered to pay RM4.5 billion cash and to shoulder the liabilities of the four toll concessionaires in the Klang Valley that Gamuda holds equity interest in.

The concessionaires are Kesas Sdn Bhd, Sistem Penyuraian Trafik Kl Barat Sdn Bhd (Sprint), Lingkaran Trans Kota Sdn Bhd (Litrak) and Syarikat Mengurus Air Banjir & Terowong Sdn Bhd (Smart tunnel). – November 1, 2019.