Water companies' share prices fall

PETALING JAYA: The share prices of some water companies tumbled following news of the Federal Government’s decision to invoke Section 114 of the Water Services Industry Act 2006 (Wasia), although no date has been fixed.

Analysts said the news was not totally unexpected, given that the Government had in the past two weeks reiterated its intention, and the shares had already priced in the expectations of Section 114 being invoked. They noted that the Government was adamant about resolving the water deadlock in Selangor’s takeover of four water concessionaires.