GEORGE TOWN: PBA Holdings Bhd (PBAHB) shareholders have overwhelmingly approved the purchase of treated water from Perak, clearing a major hurdle for the long-awaited project.
Chief Minister Chow Kon Yeow, who chairs the water utility holding company, said 97.93 per cent of shareholders backed the board's resolution at an extraordinary general meeting (EGM) today.
Under the agreement, PBA Holdings' subsidiary, Perbadanan Bekalan Air Pulau Pinang Sdn Bhd (PBAPP), will purchase treated water under the Northern Perak Water Supply Scheme from Konsortium Prasarana Air dan Irigasi Perak Sdn Bhd, a subsidiary of Khazanah Air Perak Sdn Bhd under the Perak State Development Corporation (PKNP) and Gamuda Bhd.
