Federal govt, Selangor sign water restructuring supplementary agreement

Deputy Prime Minister Tan Sri Muhyiddin Yassin witnessed the signing of the agreement involving the federal government, Selangor state government, Pengurusan Aset Air Berhad (PAAB) and Pengurusan Air Selangor Sdn Bhd (Air Selangor).

The signatories have 60 days to fulfill the Condition Precedents (CPs) in the master agreement.

When the CPs have been fulfilled, the master agreement and Sale and Purchase of Puncak Niaga Holdings Berhad (PNHB) Shares would be enforced to enable Air Selangor to take over Puncak Niaga (M) Sdn Bhd and Syarikat Bekalan Air Selangor (SYABAS).

With this, the restructuring of the water supply industry in the state of Selangor, Kuala Lumpur and Putrajaya has been finalised as agreed in the master agreement.

The supplementary agreement was signed by Ministry of Energy, Green Technology and Water (KeTTHA) secretary-general Datuk Loo Took Gee, Selangor state secretary Datuk Mohamed Khusrin Munawi, Pengurusan Air Selangor chief executive officer (CEO) Suhaimi Kamaral Zaman and PAAB CEO Datuk Ahmad Faizal Abdul Rahman.

Other witnesses at the signing ceremony included Energy, Green Technology and Water Minister Datuk Seri Dr Maximus Ongkili and Selangor Menteri Besar Mohamed Azmin Ali.

The master agreement was signed on Sept 12 last year between the federal government, Selangor government, PAAB and Air Selangor.

Under the master agreement, the federal government would allocate RM2 billion for the Selangor government to take over the equities of the concessionaires.