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Selangor will not use savings to structure the water industry

SHAH ALAM, 24 Aug: The Selangor government will not use savings to acquire Selangor’s water industry, said the Exco for Infrastructure and Public Amenities, Agricultural Modernisation and Agro-Based Industries, Zaidy Abdul Talib.

Instead, Zaidy said that the acquisition will be done through a lease of the concession companies involved worth RM2 billion to Pengurusan Aset Air Berhad (PAAB).

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“Meanwhile, RM7.65 million is the total liabilities borrowed by the water concessionaires Syabas, Abass and Puncak Niaga. The liability is in the form of bonds and will only be used to develop the water assets of concessionaires.

“However, when the state government takes over the concessionaires, the liabilities and the assets using the bond (RM2 billion) will be transferred to PAAB Management.

“Air Selangor will rent the assets from PAAB to be used. This is as outlined in the Water Services Industry Act (WSIA) that was made and enacted in parliament,” he said in a press statement today.

He said this in light of the RM7.65 billion issue involving the water restructuring in Selangor.

NS

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Selangor will not use savings to structure the water industry

SHAH ALAM, 24 Aug: The Selangor government will not use savings to acquire Selangor’s water industry, said the Exco for Infrastructure and Public Amenities, Agricultural Modernisation and Agro-Based Industries, Zaidy Abdul Talib.

Instead, Zaidy said that the acquisition will be done through a lease of the concession companies involved worth RM2 billion to Pengurusan Aset Air Berhad (PAAB).

4

“Meanwhile, RM7.65 million is the total liabilities borrowed by the water concessionaires Syabas, Abass and Puncak Niaga. The liability is in the form of bonds and will only be used to develop the water assets of concessionaires.

“However, when the state government takes over the concessionaires, the liabilities and the assets using the bond (RM2 billion) will be transferred to PAAB Management.

“Air Selangor will rent the assets from PAAB to be used. This is as outlined in the Water Services Industry Act (WSIA) that was made and enacted in parliament,” he said in a press statement today.

He said this in light of the RM7.65 billion issue involving the water restructuring in Selangor.

NS

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Your email address will not be published.