IPOH: The government has decided to merge national sewerage company, Indah Water Konsortium, (IWK) with a government subsidiary company, said Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah.
He said the decision was made recently by the National Economic Council.
"The move is an effort to strengthen both entities which is owned by the government. The biggest asset owned by IWK can be redeveloped and benefit the merged entity," he told reporters after distributing Jalur Gemilang flags to Chemor residents here.
He was commenting on a report that IWK was expected to be privatised soon to a consortium led by strategic investment agency, 1MDB.
Saying that the merger process had begun, Ahmad Husni however declined to disclose the name of the government subsidiary company, except to say that IWK would continue to be government-owned after the merger.
IWK is currently wholly-owned by the Ministry of Finance Incorporated. - Bernama
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