Investor eyes up to 20% stake in Resintech

TheStar Thu, Sep 29, 2016 07:25am - 7 years View Original


PETALING JAYA: A new shareholder is believed to be surfacing in piping company Resintech Bhd, looking to capitalise on its piping capabilities and synergising with it to bid for large-scale projects, according to a source.

Selangor is looking to upgrade its water infrastructure, as its average non-revenue water for 2015 stood at 32% or some 1.5 million cubic metres a day.

This is the same as in 2011. Most of the water pipes in Selangor and Kuala Lumpur are over 30 years old.

Analysts had estimated that capital investment for the replacement of the pipes and reparation works could be worth almost RM1bil.

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