Selangor Menteri Besar Tan Sri Abdul Khalid Ibrahim said Friday the problems faced in the acquisition of the water concession company, Puncak Niaga (M) Sdn Bhd, a subsidiary of Puncak Niaga Holdings Bhd and Syarikat Bekalan Air Selangor Sdn Bhd (SYABAS) can be resolved amicably.
An amicable solution to the takeover offer on the two companies needed information which should have been given to the state government, he said in a statement released here Friday.
Abdul Khalid said Puncak Niaga and SYABAS should understand that the conditional offer was subject to the information that had been given to the Selangor government.
"In any corporate takeover, transparency is a must to ensure a fair and equitable settlement," he said.
Abdul Khalid claimed that the offer document prepared by the Selangor government for the takeover of the water concession companies was thorough and contained sufficient information for them to make a decision.
"The statement by Puncak Niaga managing director, Datuk Hashim Mahfar was merely to delay the takeover process by the Selangor government that wants to give better quality service and water supply to the people," he said.
On Jan 6, the Selangor government made an offer to purchase the equity of Punca Niaga at a price of RM64.62 per share and SYABAS at RM20.78 per share.- BERNAMA
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