Taliworks executive director Datuk Ronnie Lim(pic) said Sungai Harmoni will have no legal liability and will not be held accountable towards Starbright in the event of any default under the termination and settlement agreement in the future.
PETALING JAYA: Taliworks Corp Bhd
has successfully sold the receivables due from Syarikat Pengeluar Air Sungai Selangor Sdn Bhd (Splash) and Pengurusan Air Selangor Sdn Bhd (Air Selangor), marking the first securitisation of water receivables undertaken in Malaysia post the water restructuring in Selangor.
This comes as part of the termination and settlement agreement dated May 24,2019 that was entered into between Taliworks’ wholly owned-subsidiary Sungai Harmoni Sdn Bhd, Splash, Air Selangor and Starbright Capital Bhd.
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