Sold 5K @ 11.38

Bought 5K @ 11.28

Takeover Of Water Supply Management By Air Selangor Can Be Finalised In 60 Days - Ongkili

SERDANG, Aug 4 (Bernama) -- The federal government is optimistic that the process of handing over the management of water supply services to Pengurusan Air Selangor Sdn Bhd can be settled within 60 days as planned, says Energy, Green Technology and Water Minister, Datuk Seri Dr Maximus Ongkili.

He said a series of meetings were held between the ministry and Selangor government officials to discuss and resolve matters before the hand-over.

He said matters relating to the schedule of handing over water management in Selangor and the Federal Territories of Kuala Lumpur and Putrajaya to the Selangor government through Air Selangor were also discussed at the joint meeting with ministry officials this morning.

"In our view, with the cooperation given by the respective parties, we should be able to complete the transfer as scheduled," he told a press conference during the ministry's Hari Raya celebration held at the Malaysia Agro Exposition Park Serdang (MAEPS), here, today.

He was commenting on developments on the Water Supply Restructuring Agreement between the federal government and Selangor government following the signing of the Supplementary Agreement to the Master Agreement on July 10.

The signing of the Supplementary Agreement involving the federal government, Selangor government, Pengurusan Aset Air Berhad (PAAB) and Air Selangor saw the parties to the agreement given 60 days to fulfil the Condition Precedents (CPs) to the Master Agreement.

Ongkili said the authorities were still required to sign several documents, including the facility agreement as a PAAB requirement to issue an allocation of RM1.65 billion to allow Air Selangor to take over the water concessionaires including Syarikat Bekalan Air Selangor (Syabas).

He said another matter to be resolved was the question of issuing an operating licence by the National Water Services Commission (SPAN) to the new operator, that was, whether to continue with the existing licence or to make a replacement.

Ongkili also said that the state government had not informed the ministry on the Selangor Economic Action Council's decision on approving several applications by the ministry in ensuring that the Langat 2 water treatment plant and its distribution system (LRAL2) project would run smoothly.

Press reports had quoted Menteri Besar Mohamad Azmin Ali as saying that among the approvals decided on July 30, was permission for the project planning and implementation of project works at the sites involved.

According to Azmin, the approvals involved applications from the Land Office, Kajang Municipal Council (MPKj) and the State Forestry Department.

-- BERNAMA

Penyerahan Pengurusan Khidmat Bekalan Air Kepada Air Selangor Boleh Dimuktamad Dalam 60 Hari

SERDANG, 4 Ogos (Bernama) -- Kerajaan Persekutuan optimis proses penyerahan pengurusan perkhidmatan bekalan air kepada Pengurusan Air Selangor Sdn Bhd dapat diselesaikan dalam tempoh 60 hari seperti yang ditetapkan, kata Menteri Tenaga, Teknologi Hijau dan Air Datuk Seri Dr Maximus Ongkili.

Beliau berkata beberapa siri mesyuarat antara pegawai kementerian dan kerajaan negeri Selangor telah diadakan bagi membincangkan serta menyelesaikan sebarang perkara berbangkit sebelum penyerahan dilakukan.

Katanya perkara berkaitan jadual penyerahan kuasa pengurusan air di Selangor, Wilayah Persekutuan Kuala Lumpur dan Putrajaya kepada kerajaan negeri Selangor melalui Air Selangor turut dibincangkan dalam mesyuarat bersama pegawai-pegawai kementerian pagi ini.

"Dalam pandangan kita, dengan kerjasama yang diberikan pihak berkenaan kita harus menyelesaikan pemindahan mengikut jadual yang ditetapkan," katanya dalam sidang media semasa sambutan Aidilfitri kementerian itu Tapak Ekspo Pertanian Malaysia (MAEPS) di sini Selasa.

Beliau mengulas perkembangan proses Perjanjian Penstrukturan Semula Industri Perkhidmatan Bekalan Air antara kerajaan persekutuan dan kerajaan negeri Selangor susulan pemeteraian Perjanjian Tambahan kepada Perjanjian Utama itu pada 10 Julai lepas.

Pemeteraian Perjanjian Tambahan membabitkan kerajaan persekutuan, kerajaan negeri Selangor, Pengurusan Aset Air Berhad (PAAB) dan Air Selangor itu menyaksikan pihak-pihak kepada perjanjian tersebut diberikan tempoh 60 hari untuk menyelesaikan 'Condition Precedent' (CPs) kepada Perjanjian Utama.

Ongkili berkata pihak berkenaan sebelum itu masih perlu menandatangani beberapa dokumen, antaranya Perjanjian Fasiliti sebagai syarat kepada PAAB mengeluarkan peruntukan RM1.65 bilion untuk membolehkan Air Selangor mengambil alih ekuiti syarikat-syarikat konsesi yang terlibat termasuk Syarikat Bekalan Air Selangor (Syabas).

Beliau berkata perkara lain yang perlu diselesaikan ialah soal pemberian lesen pengoperasian oleh Suruhanjaya Perkhidmatan Air Negara (SPAN) kepada operator baharu, iaitu sama ada meneruskan lesen sedia ada atau membuat penggantian.

"Pada pandangan kami, semua urusan yang diperlukan dalam CPs dapat ditunaikan apabila semua pihak bekerja keras memastikan perkara berbangkit dapat diuruskan secara bersama," katanya.

Dalam pada itu, Ongkili berkata pihaknya belum dimaklumkan secara rasmi oleh kerajaan negeri berhubung keputusan Majlis Tindakan Ekonomi Selangor (Mtes) meluluskan beberapa permohonan yang dikemukakan kementerian dalam memastikan projek Loji Rawatan Air Langat 2 (Langat 2) berjalan lancar.

Menurut laporan akhbar, Menteri Besar Mohamed Azmin Ali dipetik sebagai berkata antara kelulusan yang diputuskan pada 30 Julai lepas itu antara lain melibatkan kebenaran merancang bagi projek berkenaan selain pelaksanaan kerja-kerja projek di tapak yang terlibat.

Menurut Mohamed Azmin kelulusan itu melibatkan permohonan yang diterima dari Pejabat Tanah, Majlis Perbandaran Kajang (MPKj) dan Jabatan Perhutanan Negeri.

Q at 11.90

Likely is Roger Q to sell...


Roger123 Hng: Yes. I cut loss. But I still have a lot to sell. Mortgage ur house to buy.
30/07/2015 19:03

Roger123 Hng: Hahaha. puncak wont have any reaction in these few days. I will be back on friday
28/07/2015 02:23

hng33
Roger is Our clown manager cum "fun" manager

Great...hng33 is back

Bought 10K @ 1.80

Roger is selling so price down

SinGor
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SHAH ALAM: The process of transferring state water assets to Federal Government entity, Pengurusan Aset Air Bhd (PAAB) will be completed within 60 days, said Mohamed Azmin Ali.

The asset transfer was part of the water restructuring master agreement signed on Sept 12 last year, followed by a supplemental agreement inked on July 11.

"We are now given 60 days to hold discussions with PAAB to determine the list of assets that will be leased to the Selangor state government and other terms and conditions," said the Selangor Menteri Besar.

"We will present a list agreement on the assets between PAAB and Pengurusan Air Selangor Sdn Bhd and settle it within the stipulated time.

"Everything is going on well and smoothly," he said when met during the Selangor Hari Raya open house event at the Stadium Shah Alam here Sunday.

Selangor's Sultan Sharafuddin Idris Shah graced the event, which started at 10am and attracted more than 5,000 members of the public who thronged the stadium as early as 9am.

Azmin noted that the Selangor state government had agreed to surrender four water assets in exchange for another two in Semenyih and Bukit Nenas, which had been a point of dispute.

"The four assets, which included treatment plants and dams, have the same value as the assets in Semenyih and Bukit Nanas," he said, adding that Selangor state government has no problem with water assets to be transferred to PAAB.

The signing of the supplemental water agreement between the Federal Government and Selangor was seen as a positive step towards ending an impasse that has dragged on since 2008.

Azmin and Deputy Prime Minister Tan Sri Muhyiddin Yassin, who is also the chairman of the Special Cabinet Committee on Selangor Water Issues, witnessed the signing in Putrajaya earlier.

Among conditions laid out in the deal was to allow the restructuring exercise to proceed with the concessionaire companies' water assets (CCWA) accepted by Pengurusan Aset Air Bhd (PAAB), without Selangor giving up its land while complying with the requirements of the Water Services Industry Act.

PETALING JAYA: The agree­ment to re­struc­ture the wa­ter ser­vices in­dus­try in Se­lan­gor has been ex­tended by two more months since the deal was first signed in Novem­ber last year.
But Pun­cak Ni­aga Hold­ings Bhd (PNHB) ex­ec­u­tive chair­man Tan Sri Rozali Is­mail (pic) has ex­pressed fears that the con­di­tions to firm up the deal be­tween the Se­lan­gor and fed­eral gov­ern­ments may take more than the two months that both par­ties have sought.
Rozali has ques­tioned why it re­quired two more months to ful­fil con­di­tions prece­dent (CP) that would mark the com­ple­tion of the wa­ter-re­struc­tur­ing ex­er­cise in Se­lan­gor.
He said the wa­ter sup­ply is­sue in the state was a mat­ter of ur­gency.
“The CP could be ful­filled in seven days if it is not com­pli­cated. I am sur­prised that it would take that long as all the main mat­ters such as land have been re­solved. I am wor­ried that it may drag fur­ther.
“Both gov­ern­ments should re­alise the ur­gency of the in­ad­e­quate wa­ter sup­ply for con­sumers and the econ­omy of the most in­dus­tri­ous ar­eas (Kuala Lumpur and Se­lan­gor) in the coun­try. I am con­cerned for the pub­lic and the longer we dwell on this mat­ter, the more it could ad­versely af­fect for­eign in­vestors’ per­cep­tion,” he told StarBiz.
Last Fri­day, the fed­eral and Se­lan­gor gov­ern­ments signed a sup­ple­men­tary agree­ment on the re­struc­tur­ing of the wa­ter ser­vices in­dus­try that cov­ers the sup­ply to the state, Kuala Lumpur and Pu­tra­jaya. In the sup­ple­men­tary agree­ment, both gov­ern­ments have 60 days to ful­fill the CPs in the mas­ter agree­ment that was first signed on Nov 11, 2014.
After the CP has been ful­filled,
the mas­ter agree­ment and sale and pur­chase of PNHB’s wa­ter as­sets by Pen­gu­ru­san Air Se­lan­gor Sdn Bhd for RM1.56bil would be en­forced.
The wa­ter as­sets un­der PNHB are Pun­cak Ni­aga (M) Sdn Bhd, which is a raw wa­ter treat­ment op­er­a­tor, and Syarikat Bekalan Air Se­lan­gor Sdn Bhd (Syabas) that holds the
rights to dis­trib­ute wa­ter in Se­lan­gor, Kuala Lumpur and Pu­tra­jaya.
Only then can the re­struc­tur­ing of the wa­ter sup­ply in­dus­try in Se­lan­gor, that ef­fec­tively is for the state to take back the wa­ter as­sets, be com­pleted. And at the same time, PNHB would re­alise the gains from the wa­ter as­sets and utilise the funds for its other ven­tures that in­clude its oil and gas busi­ness.
The mas­ter agree­ment was signed last year when Tan Sri Khalid Ibrahim was men­tri be­sar of Se­lan­gor. Now, Azmin Ali has taken over from Khalid. Both gov­ern­ments had some dis­agree­ments on land mat­ters, caus­ing it to be ex­tended sev­eral times. The fed­eral gov­ern­ment re­quires the nec­es­sary ap­provals for the land to build the Lan­gat 2 wa­ter treat­ment plant.
Last month, PNHB agreed to a sixth ex­ten­sion un­til July 13, 2015 to ful­fil the CPs in the agree­ment dated Nov 11, 2014.
“The raw wa­ter sup­ply and
treat­ment plants are now just enough to cater to cur­rent needs, with the wa­ter re­serve ca­pac­ity crit­i­cally low at 1%.
“A drought or pol­lu­tion to the rivers would re­sult in a ma­jor wa­ter dis­rup­tion since many of the treat­ment plants are al­ready op­er­at­ing be­yond their ca­pac­i­ties,” said Rozali.
Pun­cak Ni­aga cur­rently op­er­ates 29 wa­ter-treat­ment plants that sup­ply wa­ter to Syabas, which then dis­trib­utes the wa­ter.
Ideally, the wa­ter re­serve ca­pac­ity should be kept at around 20% at any time. The de­vel­op­ment of Lan­gat 2 will in­crease the wa­ter re­serve ca­pac­ity to the ideal 20% and would cater to the Klang Val­ley’s fu­ture de­mand for the next 30 years.

Puncak Niaga Holdings Bhd
(July 13, RM2.73)
Upgrade to buy with a higher target price (TP) of RM3.80: The federal and Selangor governments signed a supplementary agreement on the proposed consolidation of the state’s water industry last Friday. This, in our view, helps to overcome the final hurdle for Puncak Niaga to dispose of its water-related assets and oper- ations. The supplementary agree- ment was to complement the wa- ter restructuring master agreement signed initially on Sept 12, 2014.
Official details are scant at this juncture. KiniBiz reported that this new agreement allows the proposed consolidation to be implemented without the Selangor government giving up its land, while complying with the requirements of the Water Services Industry Act 2006. We believe
this implies that the state government will claim ownership of the land on which the Semenyih and Bukit Nanas water treatment plants are situated.
We are glad to see light at the end of the tunnel after eight years of negotiations. With the federal and state governments sorting out their differences, we believe Puncak Niaga’s proposed disposal of its wa- ter-related assets and operations will be finalised in due course.
According to the supplementary agreement, the exercise will have to be completed within 60 days.
On a side note, our channel checks indicate that the federal and Selangor governments could revive the shelved takeover of Syari- kat Pengeluar Air Selangor Holdings Bhd (Splash). We believe this could imply an improved offer for Splash’s existing shareholders, Gamuda Bhd
(“neutral”, TP: RM5.35) and Kumpu- lan Perangsang Selangor Bhd (“not rated”), which hold a 40% and 30% stake, respectively, in the unit.
Inviewofthe weaknessinglobal crude oil prices, we take the opportu- nity to slash our financial year 2015 (FY15) to FY17 (estimates) earnings per share by 24% to 40% by factoring in lower contribution from its RM1.8 billion Package B Pan Malaysia inte- grated offshore installation contract.
We are hopeful the takeover will be expedited to put an end to Puncak Niaga’s monetisation of its water as- sets and operations. We upgrade our call to “buy” (from “neutral”), and lift our TP to RM3.80 (from RM2.61) despite our earnings revision, as we remove the 35% discount previously pegged to Puncak Niaga’s sum-of- parts valuation. — RHB Research Institute, July 13

I guess by Monday Puncak will issue official statement relating to this matter

Rozali said his Puncak team would meet Selangor state Government ASAP collectively to discuss process hand over water asset

Selangor Water Issue: Azmin Thanks Federal Government


PUTRAJAYA, July 10 (Bernama) -- The Selangor state government is thankful to the Federal Government for the cooperation given to finalise the restructuring of the water supply industry in Selangor, Kuala Lumpur and Putrajaya, said Selangor Menteri Besar Mohamed Azmin Ali.

He said during the 10-month negotiation, both the state and federal governments were committed to ensure the water industry in Selangor was more holistic in the interest of both industrial and domestic consumers.

He said during the negotiation process, both sides defended their respective views and stands but saw the bigger picture for it to be amicably resolved.

"I would like to place on record the state government's appreciation and thanks to Prime Minister Datuk Seri Najib Tun Razak and his deputy, Tan Sri Muhyiddin Yassin in extending their cooperation to finalise the deal.

"Maximus (Energy, Green Technology and Water Minister Datuk Seri Dr Maximus Ongkili) and I had discussed it throughout yesterday to late at night. I also had to contact the Deputy Prime Minister and he was kind enough to respond to me at 4.58 am.

"The agreement is a good start to forge closer cooperation in the interest of the people and consumers especially in Selangor," he said.

He was speaking at a joint media conference after the signing of the Supplementary Agreement to the Restructuring of Water Industry Agreement for Selangor, Kuala Lumpur and Putrajaya here today.

Muhyiddin, who is also the Cabinet Committee on Water Issues in Selangor chairman, also witnessed the signing of the agreement. Also present was Ongkili.

Meanwhile, Ongkili said the federal government was thankful to Selangor Menteri Besar who worked hard to pore over the drafts presented in the Supplementary Agreement until it was finalised.

He said the Selangor government had also set aside political differences to reach an agreement to sign the Supplementary Agreement.

"The spirit of give and take between the federal government and the Selangor state government prevailed for the finalisation of the agreement," he said.

Meanwhile, in KUALA SELANGOR, Puncak Niaga Holdings Berhad (PNHB) executive chairman Tan Sri Rozali Ismail said he hoped the takeover of water services industry in Selangor could be expedited to overcome a water supply crisis which is getting more serious.

He said drastic action should be taken to resolve the problem after the state and federal governments finally agreed to sign the agreement which has been delayed for several years.

He told reporters that PNHB was also worried if the water industry restructuring was not resolved, it would add to the misery of Selangor, Kuala Lumpur and Putrajaya residents.

-- BERNAMA

PNHB Harap Proses Ambil Alih Industri Air Selangor Disegerakan

KUALA SELANGOR, 10 Julai (Bernama) -- Puncak Niaga Holdings Berhad (PNHB) berharap proses pengambilalihan industri perkhidmatan air di Selangor dapat disegerakan.

Pengerusi Eksekutif PNHB Tan Sri Rozali Ismail berkata tindakan drastik perlu diambil untuk menyelesaikan proses pengambilalihan itu setelah kerajaan negeri dan pusat akhirnya bersetuju meneruskan perjanjian berkenaan yang tertangguh sejak beberapa tahun lepas.

Beliau berkata pihaknya turut berasa bimbang sekiranya proses penstrukturan semula industri air masih tidak dapat diselesaikan, ia pasti akan menambah penderitaan rakyat di Selangor, Kuala Lumpur dan Putrajaya.

"Saya berharap kerajaan negeri dan kerajaan pusat dapat bekerjasama erat terutamanya untuk selesaikan masalah air," katanya kepada pemberita di sini hari ini.

Beliau berkata demikian ketika ditemui di Majlis Berbuka Puasa dan Perasmian Masjid Puncak Alam di sini yang disempurnakan oleh Sultan Selangor Sultan Sharafuddin Idris Shah.

Rozali berkata pihaknya akan bertemu dengan kerajaan negeri dalam masa terdekat untuk melaksanakan penyerahan pengurusan air seperti yang termaktub dalam perjanjian utama sebelum ini.

Perjanjian tambahan kepada perjanjian utama penstrukturan semula industri perkhidmatan air Selangor, Kuala Lumpur dan Putrajaya akhirnya dimuktamadkan hari ini antara Kerajaan Persekutuan dan Kerajaan Selangor.

Menerusi perjanjian itu, kedua-dua pihak mempunyai 60 hari untuk selesaikan segala syarat dipersetujui dalam perjanjian utama sebelum ia dikuatkuasakan.

Majlis menandatangani perjanjian tambahan penstrukturan semula industri air itu disaksikan Timbalan Perdana Menteri, Tan Sri Muhyiddin Yassin.

Proses pengambil alihan industri air itu tergendala apabila Menteri Besar Selangor Mohamed Azmin Ali pada Mac lepas memutuskan untuk tidak meneruskan perjanjian tersebut atas alasan kerajaan pusat melanggar syarat yang ditetapkan.

-- BERNAMA

http://youtu.be/2GoJg-nmAFg

http://www.bernama.com/bernama/v8/newsindex.php?id=1151919

http://www.malaysiakini.com/news/304745

http://m.selangorku.com/?post=77791

hng33
It ok...TQ

hng33
Would u mind if I need your comments on Fitters? Prospects and earning growth

hng33
R u full time trader?

Once SinGor & hng33 repurchase Puncak...surely shoot pass 3.0......haha

http://www.theedgemarkets.com/my/article/federal-selangor-govts-have-60-days-conclude-water-restructuring-master-deal

Really envy hng33 makes enormous sum from OSK & Puncak trade

PUTRAJAYA: Deputy Prime Minister Tan Sri Muhyiddin Yassin witnessed the signing ceremony of a supplementary agreement to the master agreement for the Selangor, Federal Territories Kuala Lumpur and Putrajaya water supply restructuring. The supplementary agreement between the Federal and Selangor state governments signed would effectively put an end to the Selangor water issue since 2008. The supplementary agreement were signed by Energy, Green Technology and Water secretary-general Datuk Loo Took Gee, Selangor chief secretary of state Datuk Khusrin Munawi, Pengurusan Aset Air Bhd chief executive officer Datuk Ahmad Faizal Abdul Rahman and Pengurusan Air Sela¬ngor Sdn Bhd chief executive officer , Suhaimi Kamaralzaman. It was also witnessed by Selangor Menteri Besar Mohamed Azmin Ali, Energy, Green Technology and Water Minister Datuk Seri Dr Maximus Ongkili and his deputy Datuk Seri Mahdzir Khalid. Muhyiddin is also the chairman of the Special Cabinet Committee on Selangor Water Issues congratulated the Energy, Green Technology and Water Ministry and Selangor state government for putting aside political difference for the sake of the people through the supplementary agreement. “With this ceremony, the respective stakeholders have 60 days to complete the conditions precedent (CP) to the master agreement. “After all CPs have been fulfilled, the master agreement and acquiring of Puncak Niaga Holdings Bhd shares will be enforced to allow Air Selangor to take over Puncak Niaga (M) Sdn Bhd and Syarikat Bekalan Air Selangor,” he said in a statement. Azmin, hailed the landmark event as the agreement would have a major and direct socio-economic impact to the almost eight million people in Selangor and Kuala Lumpur. He commended Muhyiddin and Maximus for their continuous effort to ensure the issue would be resolved as soon as possible.

Read More : http://www.nst.com.my/node/91627

http://www.themalaymailonline.com/malaysia/article/end-in-sight-to-water-woes-as-selangor-putrajaya-finally-ink-supplement-dea

http://www.themalaysianinsider.com/malaysia/article/selangor-water-deal-finalised-says-azmin

http://www.freemalaysiatoday.com/category/bahasa/2015/07/10/penstrukturan-air-di-selangor-ditangguhkan-lagi-60-hari/

Hopefully Puncak will issue statement regarding this deal

kahhoeng
Money money....must be funny ....in the rich man world

Supplemental agreement for restructuring and consolidation of Selangor Water Services Industry
Jul 10 2015 / Nurul Farina Nazlan
BY: THE OFFICE OF THE MENTERI BESAR OF SELANGOR

PUTRAJAYA: The Supplemental Agreement for restructuring and consolidation of Selangor, Kuala Lumpur and Putrajaya water services industry was signed at the Deputy Prime Minister’s office today, 10 July 2015.

The signing of the Supplemental Agreement to the Master Agreement dated 12 September 2014 follows the conclusion of the State Government of Selangor negotiations with the Government of Malaysia.

Menteri Besar Mohamed Azmin Ali hailed the signing as a landmark event as the Agreement will have a major and direct socio-economic impact on the people of Selangor and Kuala Lumpur numbering almost 8 million.

He said that this was the culmination of the tireless efforts to return the rights to water supply to the people and the water supply services restructuring can now proceed as planned.

“This signing clearly shows that the State Government can work well with the Federal Government when both parties are prepared to set aside extraneous concerns for the common good and welfare of the people. The people’s interest must come first over everything else,” he added.

In particular, he commended Tan Sri Dato’ Muhyiddin Yassin - Deputy Prime Minister for showing leadership and conviction in ensuring that the water deal be resolved as soon as possible.

“I look forward to further and more productive engagement and collaboration between Shah Alam and Putra Jaya for the overall and long term good of the people,” he said.

The Menteri Besar thanked all the relevant parties for finally resolving the long drawn dispute that had arisen from the Master Agreement. He said that in spite of the various hiccups and protracted and tough negotiations, there was an underlying commitment to see the deal through.

He also applauded the spirit of co-operation and understanding of Datuk Seri Panglima Dr Maximus Ongkili - Minister of Energy, Green Technology and Water, Ministry of Finance and all relevant agencies in particular negotiators from the State.

“Despite the challenges and criticisms, all parties have demonstrated in the discussions and negotiations a serious commitment to work towards an amicable and sustainable resolution for the benefit of the rakyat,” he added.

“Once the take-over and consolidation of the private water concession companies under State-owned entity Air Selangor is completed, all efforts will be focused on further improving the water treatment and distribution systems as well the overall water supply services”, he added.

“The journey begins now to further improve the overall water services to reduce the Non-Revenue Water (NRW) and more critically to ensure sufficient water supply to consumers” he said.

The State Government via its wholly owned water company, Air Selangor, is implementing the restructuring and consolidation of the water services industry to ensure the provision of efficient, value for money and holistic water services from treatment to distribution of water supply to consumers.

The Federal Government and State Government together with Pengurusan Aset Air Berhad (PAAB) and Pengurusan Air Selangor Sdn Bhd (Air Selangor) had previously signed the Master Agreement as part of the efforts to restructure and consolidate the water supply services in Selangor and the Federal Territory of Kuala Lumpur and Putrajaya.

The water industry in Selangor will see the operations takeover and maintenance of water treatment facilities as well to increase the capacity of the facilities in using the latest technology.

Among other things, the Supplemental Agreement allows the water restructuring exercise to proceed without Selangor giving up its land whilst still complying with the requirements of the Water Services Industry Act, 2006. The Supplemental Agreement also extends the period for completing the Master Agreement by 60 days commencing from the date of the Supplemental Agreement.

In the interest of expediting the water restructuring exercise without further delay, the dispute on the ownership of the Sungai Semenyih and Bukit Nanas Water Treatment Plants will now be addressed separately between the Federal and State Government. The State has agreed to provide alternative water assets to PAAB in consideration for up to RM2 billion in funds to finance Air Selangor’s acquisition of the private water concession companies in Selangor.

The extension of the completion date of the Master Agreement will also facilitate the completion of the Sales and Purchase Agreement signed between Air Selangor and Puncak Niaga Holdings Berhad for the purchase the latter’s equity stakes in Syarikat Bekalan Air Selangor (SYABAS) and Puncak Niaga Sdn Bhd.

http://m.selangorku.com/?post=77777

hng33's effect lihai....haha

Wow all follow suit hng33 selling mode

hng33
Where is Roger?

Volume record high..good sign

Wow 2.80 cleared

Haha.. Roger's share never finish selling

Once clear 2.80 will fly

Wow...2.78 road block cleared!!

Update yourself Awani news @ 3pm

Roger will buy back later once the deal signed