PBA shareholders back Perak water supply proposal for Penang
The planned purchases would begin in 2032, while the agreement still requires SPAN approval of Perak’s proposed tariff and charges.
A proposal to supply Penang with treated water purchased from Perak won 97.93 per cent shareholder support at PBA Holdings Bhd’s extraordinary general meeting. Chairman Chow Kon Yeow said on November 12 that Penang Water Supply Corporation (PBAPP) intends to buy a minimum daily volume of 300 million litres from 2032.
Chow, who also chairs PBAPP and serves as Penang chief minister, said the vote satisfied a prerequisite under the Bulk Water Supply Agreement linking PBAPP with Prasarana Air dan Irigasi Perak Sdn Bhd (PAIP). PBA will report the approval to Bursa Malaysia and PAIP, allowing preparations for the project to advance, he said.
The contractual deadline for project completion and delivery to the Perak-Penang border is March 31, 2032, according to Chow. Distribution after the water reaches that point would fall to PBA.
Another prerequisite is regulatory consent from SPAN for PAIP’s proposed tariff, covering the capacity charge and other charges. Chow said Perak has until 2035 to secure that approval; without it, the agreement cannot go ahead. He added that issues submitted before the meeting by a group representing minority shareholders had been addressed.
