SHAH ALAM, 5 Oct: The federal government is optimistic that the asset acquisition of Puncak Niaga Holdings Berhad (PNHB) by the Selangor Water Management Sdn Bhd (Air Selangor) will be finalised as scheduled on October 15.
The Secretary General for the Ministry of Energy, Green Technology and Water (KeTTHA), Datuk Loo Took Gee, said that the process went smoothly as planned with several procedures that need to be looked into before it can be completed.
“There are no issues (arising)…we have entered into a supplementary agreement. Everything is going smoothly and what we need is for the Selangor government to submit the asset, as done before.
“All measures need to be taken and the next thing is for the Selangor government to take over operations.
“There are no problems. In fact, the money has been submitted to the individuals and the payment will be made as soon as all the assets are submitted,” he said, taken from BERNAMA.
On October 3, the Chief Minister of Selangor, Mohamed Azmin Ali, said that PNHB and Air Selangor are discussing to resolve some technical issues involving the acquisition of the company and believes that it can be resolved by the agreed date.
On September 14, the PNHB board of directors agreed to extend the acquisition for the eight time for a month starting September 14 to October 15 to allow Air Selangor to meet the conditions under the sale and purchase agreement dated 11 November 2014.
Loo said that the effort is time-consuming as there are some procedures that need to be looked into.
NS
