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CM: No extension for concessions to finalise the water structuring agreement

IJOK, 22 Jan: There is no extension for any concession companies, including Puncak Niaga Holdings Berhad (Puncak Niaga) to finalise the Selangor water structuring agreement.

The Chief Minster, Mohamed Azmin Ali, said that all processes on the matter will take place, as prescribed.

“I have given the final decision; it must be completed in early February on the date agreed.

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“No extension will be granted to them,” he told reporters after the ground-breaking ceremony for the Selangor State Development Corporation (PKNS) Selangorku Dream Homes in Section 5, Kota Puteri, today.

Prior to this, Air Selangor Sdn Bhd was asked to give an explanation regarding the delay in Puncak Niaga finalising the Selangor water structuring agreement.

The offer by the Selangor government to acquire 100 percent of shares in Puncak Niaga (M) Sdn Bhd (PNSB) and 70 percent of shares in the Selangor Water Supply Company (SYABAS) was accepted in principle by Puncak Niaga Holdings Berhad (Puncak Niaga).

The decision was notified to Kumpulan Darul Ehsan Berhad (KDEB) through a letter dated June 6, 2014, with a net cash consideration amounting to RM1,555.3 million.

NS


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