Puncak Niaga sues Selangor govt, Khalid, Azmin for several bln ringgit – Business News


KUALA LUMPUR: Puncak Niaga Holdings Bhd has filed a suit against the Selangor government, the previous and current menteri besar for several billion ringgit to force a take-over of the state’s water industry.

Puncak Niaga said on Tuesday it had served the sealed writ of summons and statement of claim on the solicitors of former MB Tan Sri Abdul Khalid Ibrahim, current MB Datuk Seri Mohamed Azmin Ali and the state government.

The company alleged Khalid and Azmin abused their powers in public office/misfeasance by threatening to cause and/or requesting or attempting to cause the Federal Government to invoke use of the Water Services Industry Act 2006 (WSIA) to force a take-over of the state’s water industry.

It is claiming the difference between the value of PNSB Water Sdn Bhd (formerly known as Puncak Niaga (M) Sdn Bhd) (PNSB) and Syarikat Bekalan Air Selangor Sdn Bhd (Syabas) at the range of RM2.081bil to RM2.353bil  and the actual purchase consideration of RM1.555bil under the share purchase agreement dated Nov 11, 2014 between Puncak and Pengurusan Air Selangor Sdn Bhd.

Puncak Niaga is also claiming a loss of business opportunities (local and foreign) totalling RM13.49bil.

The matter is fixed for case management at the Shah Alam High Court on Nov 28. 


Read more : thestar

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