Gamuda Bhd said the independent valuation on Selangor's takeover bid for Syarikat Pengeluar Air Sungai Selangor Sdn Bhd (Splash) would hopefully end politicisation of the matter.

Gamuda group managing director Lin Yun Ling was reported denying the endless dragging of the takeover was the company's fault saying it has been over-politicised.

“I see it (independent valuation) as a step towards depoliticising it,” The Sun reported Lin saying at a press conference after the group’s AGM yesterday.

“This (Selangor water restructuring issue) has dragged on for eight to nine years.

"We just want to have a closure that’s fair to both sides so that we can move on,” he was reported as saying.

Lin expects the independent valuation that the federal government has appointed to determine the price tag of its stake in the water concessionaire to be done in January 2017.

Gamuda reportedly turned down Selangor's earlier offer of RM250.6 million to buy out Gamuda’s 40 percent stake in Splash saying it would cause a divestment loss.

According to The Sun, when asked if Gamuda is open to a compromise on the price in order to finalise the deal, Lin said, “I don’t think we want to cross that bridge until we come to it.”

On another matter, Lin was reported saying the new cost estimates of RM40 billion for the Penang Transport Master Plan, in which Gamuda has a 60 percent stake in project delivery partner SRS Consortium, was "something new to him".

He said the costs should not vary too much from the earlier figure of RM27 billion.

Lin added the detailed environmental impact assessments are being finalised for submission early next year.