SHAH ALAM, 12 Nov: Selangor will take the step in finalising the water industry restructuring in the state after the share purchase process between the Selangor Water Management Sdn Bhd and Puhcak Niaga Holdings Berhad is completed.
The Selangor Government Secretary, Datuk Mohammed Khusrin Munawi, said that with the agreement signed, the restructuring will happen under a holistic model.
“With the signing of this agreement, we will move to finalise the restructuring of the water industry in Selangor under a holistic model.
“The Selangor government, through Selangor Water Management Sdn Bhd, will begin the move to restructure the operations of Syabas and Puncak Niaga. Congratulations to all those responsible in realising this success,” he said through Facebook after the ceremony at the Ministry of Energy, Green Technology and Water in Putrajaya.
On February 26 this year, the Memorandum of Understanding (MoU) with the central government was held to enable the Selangor government to take over the four water concessionaires in the state with a cash injection of RM2 billion for the acquisition of the concessionaires.
In addition, the state government also provided a compensation of RM9.65 billion to the four water concessionaires in Selangor.
Following the acquisition, a water consortium to manage the water industry in Selangor will be formed under the supervision of Kumpulan Darul Ehsan Berhad (KDEB).
NS
