Puncak Niaga gives Air Selangor 2 months’ extension
PETALING JAYA: Puncak Niaga Holdings Bhd has decided to extend, for the seventh time, the disposal of its water assets to Pengurusan Air Selangor Sdn Bhd (Air Selangor) by two months to Sept 14, 2015.
In a filing with Bursa Malaysia yesterday, Puncak Niaga and Air Selangor mutually agreed on the further extension for the fulfilment of conditions stated in the conditional sale and purchase agreement (SPA) dated Nov 11 last year.
"The board's decision is premised on the fact that both the federal and state government had executed the Supplemental Master Agreement on July 10," it added.
The extension comes on the heels of the federal and state government last Friday entering another supplement agreement to extend the deadline for the water asset consolidation exercise.