Wednesday, November 10, 2010

#Flash* Syabas suing Selangor govt for RM471.6m

KUALA LUMPUR: PUNCAK NIAGA HOLDINGS BHD []'s subsidiary Syarikat Bekalan Air Selangor Sdn Bhd (Syabas) is suing the Selangor Government for RM471.64 million.

Puncak Niaga said on Wednesday, Nov 10 it had instituted legal proceedings against the Selangor Government and sought the RM471.64 million as compensation due to it for the period Jan 1 to Dec 31, 2009.

It said the compensation under the terms of the concession agreement dated'' Dec 15, 2004 between Syabas, the Federal Government and the State Government.


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