PETALING JAYA: Taliworks Corp Bhd has concluded its negotiations with Pengurusan Air Selangor Sdn Bhd (Air Selangor) pertaining to the operations and maintenance of the Sungai Selangor Water Treatment Plant Works Phase 1 (SSP1), following the long drawn Selangor water restructuring saga.
The group told Bursa Malaysia that its wholly owned subsidiary Sungai Harmoni Sdn Bhd had entered into several agreements in relation to SSP1.
Sungai Harmoni executed termination and settlement agreement with Air Selangor and Syarikat Pengeluar Air Sungai Selangor Sdn Bhd (Splash) for the settlement of Sungai Harmoni’s outstanding receivables arising from its existing operations and maintenance of SSP1.
Under the agreement, Splash will pay 90% of the sum due and payable to Sungai Harmoni based on the existing operations and maintenance agreement amounting to RM618.32 million as at September 30, 2018.
Sungai Harmoni also signed bulk water supply agreement for the continued operations and maintenance of SSP1 and the supply of treated water between Sungai Harmoni and Air Selangor with the agreement period extended for another seven years.
Meanwhile, Sungai Harmoni inked an agreement with Air Selangor in respect of the licenses for abstraction of water issued by Lembaga Urus Air Selangor.