Since Puncak
KUALA LUMPUR: Shares of Puncak Niaga Holdings Bhd
and Kumpulan Perangsang Selangor (KPS) rose in active trade on Monday ahead of the sealing of the Selangor water deal.
At midday, Puncak Niaga was up 17 sen to RM2.69 and its warrants, Puncak_WB added 13 sen to RM1.74. KPS gained 12 sen to RM1.30.
On Tuesday, the Federal Government and Selangor State Government will be concluded with the signing ceremony.
A signing ceremony will be held in Shah Alam between Pengurusan Aset Air Berhad (PAAB) and Pengurusan Air Selangor Sdn Bhd (Air Selangor) to seal four agreements under the restructuring of Selangor’s water services industry.
The four agreements are the facilities agreement, lease agreement, rights of use agreement and settlement agreement, which are condition precedents to effect the master agreement for the restructuring exercise.
With the conclusion of the agreements and handing over of the licenses, the critical Condition Precedents would be completed and fulfilled. This means the Master Agreement will take effect from Sept. 9, 2015.
With the Master Agreement in effect, Air Selangor can now hand over the required land titles with value of up to RM2bil to PAAB in order for PAAB to provide the necessary funds for Air Selangor to take over the Selangor water concessionaires.
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