Tuesday, November 28, 2017

Azmin to file application against Puncak Niaga suit

azmin

SHAH ALAM: Selangor Menteri Besar Mohamed Azmin Ali and the state government will file an application to strike out Puncak Niaga Holdings Bhd’s suit against them in relation to the restructuring of the water industry in Selangor.
Azmin said he had instructed the lawyer representing him and the state government to have Puncak Niaga’s allegations dismissed as baseless.
“We take this action to safeguard the interests of Selangor also,” he told reporters after launching Smart Desa Selangor here today.
Yesterday, former Selangor menteri besar Abdul Khalid Ibrahim filed an application to strike out the suit which named him, Azmin and the Selangor state government as defendants.
High Court judge Akhtar Tahir fixed Jan 23 for decision or clarification on Khalid’s application.
In a statement to Bursa Malaysia on Nov 21, Puncak Niaga said the suit was initiated after Khalid and Azmin allegedly abused their power by threatening to cause or apply or attempt to cause the federal government to invoke the Water Services Industry Act 2006 and force the takeover of the water service industry in Selangor.
The water concessionaire is seeking damages, interest and costs relating to the value difference of RM2.08 billion to RM2.35 billion between PNSB Water Sdn Bhd (formerly Puncak Niaga (M) Sdn Bhd), and Syarikat Bekalan Air Selangor Sdn Bhd (Syabas).
It is also seeking actual purchase consideration of RM1.55 billion under the share purchase agreement dated Nov 11, 2014 between Puncak Niaga and Pengurusan Air Selangor Sdn Bhd.
Puncak Niaga is also claiming damages, interest and costs over loss of business opportunities in the country and abroad, amounting to RM13.5 billion. -FMT

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