SHAH ALAM, June 27 (Bernama) -- Puncak Niaga Holdings Bhd says it will continue to carry on its core water business despite having management problems related to the federal and state governments.
Its executive chairman, Tan Sri Rozali Ismail said the company's shareholders including the minority shareholders had been informed and reassured that their interests would be taken care of.
The concession agreements signed have clauses protecting the rights and interests of the company, he told reporters after the company's annual general meeting here today.
"We also make it a point that our shareholders are notified of the developments, and we will get the permission of the shareholders when it involves major events for the company."
Rozali also said there had been misconceptions that the company belonged to him or other individuals while it was actually a listed company with 60 per cent of its shares belonging to the public.
He said the company has not been able to move freely in terms of investment and capital expenditure due to the structural problems it is currently facing.
According to the company's 2010 annual report, Rozali held 1.73 million shares or 0.42 per cent of the issued and paid-up capital of the group.
Rozali said he had also urged the Ministry of Energy, Green Technology and Water and its agency, National Water Services Commission, to look into the problem, adding that it was their responsibility to ensure a smooth flow in the country's water industry.
No comments:
Post a Comment