Kudos to Casshern:
SELECT 'grant ' + (CASE stp.selectauth WHEN 'Y' THEN 'select ' END CASE ) + ( CASE stp.deleteauth WHEN 'Y' THEN ', delete ' END CASE ) + ( CASE stp.updateauth WHEN 'Y' THEN ', update ' END CASE ) + ( CASE stp.alterauth WHEN 'Y' THEN ', alter ' END CASE ) + ( CASE stp.referenceauth WHEN 'Y' THEN ', reference ' END CASE ) + ( CASE stp.insertauth WHEN 'Y' THEN ', insert ' END CASE ) + ' ON ' + USER_NAME(st.creator) + '.' + st.table_name + ' TO ' + USER_NAME(stp.grantee) + ';' FROM systable st, systableperm stp WHERE stp.stable_id = st.table_id