Pengurusan Air Selangor Takes Over Puncak Niaga, Syabas
(Bernama) – Pengurusan Air Selangor Sdn Bhd has become the new owner of Puncak Niaga (M) Sdn Bhd and Syarikat Bekalan Air Selangor (Syabas) after a deal was inked over their acquisition Tuesday.
The deal was signed by Pengurusan Air Selangor and Puncak Niaga Holdings Bhd, which owned 100 per cent equity in Puncak Niaga (M) Sdn Bhd and 70 per cent in Syabas.
The signing of the share sale and purchase agreement marked the start of the implementation of the master agreement signed on Sept 12 by the federal and Selangor governments, Pengurusan Aset Air Bhd, and Pengurusan Air Selangor.
Energy, Green Technology and Water Minister Datuk Seri Dr Maximus Johnity Ongkili said the acquisition would pave the ways for the next steps to be taken to finalise the restructuring of the water supply industry in Selangor, Kuala Lumpur and Putrajaya.
“With the signing of the agreement, Pengurusan Air Selangor will begin to take over most of the water supply services in Selangor, Kuala Lumpur to fulfil the Selangor government’s aspirations to manage the state’s water services,” he said after witnessing the signing of the agreement.
Pengurusan Air Selangor was represented by its Chief Executive Suhaimi Kamaruzaman while Puncak Niaga by its non-independent non-executive director and Syabas CEO Datuk Ruslan Hassan.
Ongkili said Konsortium Abass (Abass), which is 90.83 per cent owned by Kumpulan Perangsang Selangor and the remainder by Operasi Murni (M) Sdn Bhd, has four months to complete the equity sales transaction to Pengurusan Air Selangor.
“On the other hand, the equity transaction of Syarikat Pengeluar Air Sungai Selangor (Splash) is expected to be completed within 10 months,” he said.
Ongkili said the acquisition of Puncak Niaga, Syabas and Abass would involve RM7.8 billion out of the RM9.65 billion offered by the Selangor government to acquire the four water concessionaires in Selangor, namely Syabas, Puncak Niaga, Abbas and Splash.
“The federal government is very pleased over the development of one of the measures to ensure the sustainability of water supply services in Selangor, Kuala Lumpur and Putrajaya,” he said.
On water tariff revision following the acquisition, Ongkili said it was up to the Selangor government to determine.
Pengurusan Air Selangor is a special purpose vehicle created by the Selangor government to acquire all water concession companies in Selangor, Kuala Lumpur and Putrajaya.
