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PAAB to ink Penang water revamp deal June 2

The signing between Pengurusan Aset Air Bhd and the Penang state government will include the development of the Mengkuang dam.

Kuala Lumpur: Pengurusan Aset Air Bhd (PAAB) will sign a water restructuring deal with the Penang state government on June 2, confirming a recent Business Times report.

According to a media invitation, the signing would also include the development of the Mengkuang dam.

Business Times, in a report on May 20, stated that the government is expected to make an offer to buy the water assets in Penang for more than RM3 billion on the same date.

PAAB, the government's water asset management company, is a wholly-owned company under the Minister of Finance Incorporated.
The impending deal with the Penang state government is the first phase by the federal government to consolidate the water industry.

Read more: PAAB to ink Penang water revamp deal June 2 http://www.btimes.com.my/articles/asetair30-2/Article/#ixzz1NtGlnVRJ

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