PNHB needs more info on latest takeover offer

KUALA LUMPUR: Puncak Niaga Holdings Bhd (PNHB) said it is unable to table any proposal to shareholders on the latest RM9bil takeover offer by the Selangor government as it requires a clearer bid.

The Selangor government on Jan 6, had revised its offer to take over four water concessionaries in the state namely Puncak Niaga (M) Sdn Bhd, Bekalan Air Selangor Sdn Bhd (Syabas), Konsortium Abass Sdn Bhd dan Syarikat Pengeluar Air Selangor Sdn Bhd (Splash). Syabas and Puncak Niaga are subsidiaries of PNHB.