RM999.2 MILLION Water Restructuring Deal Signed Perak Becomes The Sixth State To Sign Deal With Pengurusan Aset Air Berhad

PUTRAJAYA, Wednesday: Pengurusan Aset Air Berhad (PAAB), a government-owned company under the Minister of Finance Incorporated has acquired water assets valued at RM999.2 million from the state of Perak. The state becomes the sixth state to sign a water restructuring deal today. Perak now joins Melaka, Negeri Sembilan, Johor, Perlis and Pulau Pinang in embarking the new licensing regime as part of the National Water Services Industry Restructuring Initiative.

The signing ceremony was witnessed by Deputy Prime Minister Tan Sri Dato’ Hj Muhyiddin Mohd Yassin, Finance Minister II Dato’ Seri Ahmad Husni Mohamad Hanadzlah, Menteri Besar Perak, Dato’ Seri DiRaja Dr. Zambry Abdul Kadir, Deputy Minister of Energy, Green Technology and Water, Dato’ Noriah Kasnon and Dato’ Seri Diraja Tajol Rosli Ghazali, Chairman of PAAB. Also present were Tan Sri Dr. Wan Aziz Wan Abdullah, Chief Secretary for Treasury, Dato’ Abdul Puhat bin Mat Nayan, Perak State Secretary, Dato’ Ahmad Faizal Abdul Rahman, Chief Executive Officer of PAAB and Dato’ Ir. Mohd Yusof bin Mohd Isa, General Manager of Lembaga Air Perak (LAP) who penned the agreements for Federal Government, State of Perak, PAAB and LAP respectively.

Under the agreements signed, PAAB will take over the State’s water liability from the Federal Government of the same amount and subsequently lease back the water assets to LAP at an agreed rate.

This achievement represents another milestone for PAAB. This brings PAAB a step closer to achieve its mandate to be the nation’s water assets owner and manager under the National Water Services Industry Restructuring Initiative. With this, the Government is also on track in implementing the national policy designed at improving the country’s water industry.

With this acquisition, PAAB will have RM9.24 billion worth of water assets in its books. PAAB is targeting to conclude restructuring deals with few other states by end of 2013, barring any unforeseen circumstances.

For further information, please contact:

Norlida Mohd Ariff
Senior Manager, Corporate Communications Department
Pengurusan Aset Air Berhad
Tel. No. : 03-2614 5555
Email : norlida@paab.my
Website : www.paab.my