Puncak Niaga Holdings Bhd's minority shareholders today asked the Board of Directors to sue Syarikat Bekalan Air Selangor Sdn Bhd (Syabas), the sole supplier and distributor of treated water in the Klang Valley.
They asked Tan Sri Rozali Ismail, who is Puncak Niaga Holdings and Puncak Niaga Sdn Bhd Executive Chairman, to take legal action against Syabas to pay RM1.09 billion owed to Puncak Niaga up to Dec 31, 2011.
The amount is the outstanding cumulative figure over the last three years.
G. Parameswaran, the shareholders' spokesman, said they hoped Puncak Niaga's cashflow status would improve after Syabas settled the arrears.
"This will make it possible for Puncak Niaga to pay dividend to its shareholders," he told reporters after the company's annual general meeting.-- BERNAMA
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