The Penang State Government has informed the water concessionaire Perbadanan Bekalan Air Pulau Pinang Sdn. Bhd. that the Water Intake Fee for the year 2023 shall remain at the rate of 3 sen per cu.m based on the annual actual production volume for the year 2023.
The company said the Water Intake Fee which was imposed by Penang State Government follows the power rendered to the State by the Federal Constitution. The State Government of Penang had on 20 December 2022 approved to remain the Water Intake Fee for the year 2023 at the rate of 3 sen per cu.m based on the annual actual production volume for the year 2023 and to review such fee by end of the year 2023 to determine the fee the for the year 2024.
PBAHB said the Water Intake Fee will not have any effect on the issued share capital and shareholdings of the substantial shareholders of the group and neither it is expected to have any material effect on the net assets and the earnings of the Company for the year 2023.
