Puncak notified by KDEB no more water talks

Business & Markets 2014
Written by Jonathan Gan at theedgemalaysia.com
Thursday, 09 January 2014 19:08
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KUALA LUMPUR (Jan 9): Puncak Niaga Holdings Bhd said it has been notified
by Kumpulan Darul Ehsan Bhd (KDEB) today that “there will be no further
discussions on the proposal to purchase the equities of PNSB and SYABAS for
the foreseeable future”.
The statement comes after the Selangor state and federal government evoke
Section 114 of the Water Services Industry Act 2006. (WASIA).
The section reads: “The minister may… direct the National Water Services
Commission to assume control of the whole of property, business and affairs of
a licensee and carry on the whole of the licensee’s business and affairs”
According a report by FZ.com, Tan Sri Abdul Khalid Ibrahim said yesterday:
“The state government has agreed to give full cooperation to the federal
government to use Section 114 of the Act…which, among others, stipulate that
National Water Services Commission (SPAN) appoint two administrators on behalf of the water concessionaires to handle the restructuring
of the water services industry in the state."
The two administrators that have been appointed are KDEB president Suhaimi Kamaralzaman and Menteri Besar Incorporated (MBI) CEO
Faekah Husin, a political secretary to Khalid.