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Perwaja settles with TNB, will pay RM176.7m electricity bill
by hlk Wed 19 Feb 2014, 20:39
Business & Markets 2014
Written by Jonathan Gan at theedgemalaysia.com
Wednesday, 19 February 2014 19:15
A + A - Reset
KUALA LUMPUR (Feb 19): Perwaja Holdings Bhd (PHB) told Bursa Malaysia
today that its unit Perwaja Steel Sdn Bhd (PSSB) has signed a settlement
agreement with Tenaga Nasional Bhd (TNB)
In a company statement, it said the settlement was signed yesterday to record
the terms and conditions of settlement of all outstanding amounts owed by
PSSB in respect of electricity bills amounting to RM176,712,915.78.
Additionally, PSSB has also signed a supplementary agreement for
reconnection and future supply of electricity to its manufacturing facilities
located at Kawasan Perindustrian Telok Kalong in Kemaman Terengganu.
“PHB will continue with its on-going discussions with other creditors of PSSB
including the financial institutions, to finalise a restructuring scheme that is
acceptable to all parties, which will lead to improvement in the operations of
PHB and for it to cease as a PN 17 company,” the announcement said.
Written by Jonathan Gan at theedgemalaysia.com
Wednesday, 19 February 2014 19:15
A + A - Reset
KUALA LUMPUR (Feb 19): Perwaja Holdings Bhd (PHB) told Bursa Malaysia
today that its unit Perwaja Steel Sdn Bhd (PSSB) has signed a settlement
agreement with Tenaga Nasional Bhd (TNB)
In a company statement, it said the settlement was signed yesterday to record
the terms and conditions of settlement of all outstanding amounts owed by
PSSB in respect of electricity bills amounting to RM176,712,915.78.
Additionally, PSSB has also signed a supplementary agreement for
reconnection and future supply of electricity to its manufacturing facilities
located at Kawasan Perindustrian Telok Kalong in Kemaman Terengganu.
“PHB will continue with its on-going discussions with other creditors of PSSB
including the financial institutions, to finalise a restructuring scheme that is
acceptable to all parties, which will lead to improvement in the operations of
PHB and for it to cease as a PN 17 company,” the announcement said.
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