Puncak Niaga’s RM14b lawsuit may backfire
Khairul Khalid | 01 Dec 2017 00:30
Puncak Niaga has accumulated losses of over RM355 mil up to September since the Syabas sale

SELANGOR’s water restructuring plans have been dealt another blow with Puncak Niaga Holdings Bhd’s RM14 bil lawsuit. The former concessionaire is claiming abuse of power by the state government in the water restructuring which saw Puncak Niaga disposing its highly-prized subsidiary Syarikat Bekalan Air Selangor (Syabas) in 2015 for RM1.55 bil.

The legal action, which names former Selangor Menteri Besar (MB) Tan Sri Abdul Khalid Ibrahim, current MB Datuk Seri Mohamed Azmin Ali and the Selangor state government as defendants, has taken many by surprise.

A source tells FocusM a number of its top management were unaware of the plans for the lawsuit, which could have adverse repercussions on the company.