Malaysia's Puncak Niaga sells one of its China businesses

Puncak Niaga is selling its water assets to Pengurusan Air Selangor for RM1.55bil

PETALING JAYA: Puncak Niaga Holdings Bhd is selling off one of its China businesses to limit the losses from this particular investment, with the intention of exiting from all its businesses in the country.

According to a statement to Bursa Malaysia yesterday, Puncak Niaga’s 98.65% subsidiary, Sino Water Pte Ltd, and Environmental Holding Pte Ltd had entered into a framework agreement to execute the disposal.