GEORGETOWN, May 28 – Water Supply Corporation Holdings Berhad (PBAHB) announced a dividend of 7.5 percent to its shareholders today at Pangkor Room, Level 3, Jen Hotel. This was announced by the Chairman of PBAHB who is also Penang Chief Minister Lim Guan Eng.
The Annual General Meeting (AGM) PBAHB also present by Deputy Chief Minister I, Datuk Mohd. Rashid hasnon; Deputy Chief Minister II, Prof. Dr. P. Ramasamy and CEO PBAPP, Ir. Página Maidinsa. PBAHB is a holding company for the Penang Water Supply Corporation Sdn. Bhd. (PBAPP), a licensed water operator for Penang.
“The payment of dividends have been approved today in the Annual General Meeting (AGM) PBAHB. It can as an entity that lead us to believe that the water supply to the granting of remuneration to shareholders each year. Meanwhile, PBAHB for the 12th year in a row rewarding shareholders 8.884 and this proves that the share is an investment PBAHB stable and satisfactory in the long run,” Penang Chief Minister Lim Guan Eng said at the press conference here today.
In 2014, PBAHB had recorded an increase in revenue of 3.69 per cent to RM261.02 million compared to RM251.73 million in the previous year (2013). However, cost of sales (including the cost of electricity, petrol, chemicals and maintenance costs) increased by 6.62 per cent from RM183.46 million in 2013 to RM195.60 in 2014.
After taking into account other differences in administrative expenses, interest income, dividend and income tax expense, PBAHB recorded a profit after tax (PAT) of RM24.76 million (2014) compared to RM27.93 million in 2013. In another development, CM Lim has also commented on the State Government’s intention to purchase raw water from the state through the Raw Water Supply Scheme Sungai Perak or SPRWTS with total spending (expected) RM2 billion.
“We (State Government) are still in the discussion phase and the last time we met with representatives of the Perak is in March. The discussion will be continued to ensure the supply of raw water after 2020 in Penang is sufficient. The latter is indispensable for confronting climate change until 2050 sequel, although Penang managed to get out of measures such as rationing in several states on the water crisis,” he explained.
“The Federal Government and the Perak State Government as if turning the promise they made themselves to this SPRWTS where the Ministry of Energy, Green Technology and Water (KeTTHA) do not want to become a mediator for talks between the Government of the State of Perak and Penang. On the other hand, KeTTHA has asked us (State of Penang) to negotiate directly with the SPRWTS Perak,” he explained.
