No reason for PNHB to further delay water assets takeover - Selangor MB

Puncak Niaga Holdings Bhd (PNHB) does not have any reason to further delay the sale of its water assets to Pengurusan Air Selangor Sdn Bhd (Air Selangor) as the takeover negotiation ended on Nov 12, 2014, Selangor Menteri Besar Mohamed Azmin Ali said.

He said the state government needs an explanation on why PNHB needed a long time to finalise the agreement as it was given ample time to do so.

"I do not see any need to allow Puncak Niaga to delay the acquisition as the main agreement with the Federal Government and Air Selangor had been finalised," he told reporters at the State Secretariat here, Friday.

He was commenting on a request made by PNHB to Air Selangor for an extension to fulfill the terms and conditions stipulated under the sales and purchase agreement (SPA) for the disposal of its water assets.

PNHB Executive Chairman Tan Sri Rozali Ismail was quoted as saying that there were still terms and conditions which had not been fully met under the SPA signed between both parties on Nov 11, 2014.