Kumpulan Perangsang Selangor has announced that Aqua-Flo Sdn Bhd, a 51%-owned subsidiary of the group had on 21 entered into a Framework Agreement with Pengurusan Air Selangor Sdn Bhd for the supply and delivery of various water treatment chemicals to Air Selangor for a period of two years with an estimated contract sum of RM162 million.
The commencement and duration of the supply will be for a period of two years commencing from 1 January 2024 until 31 December 2025. Air Selangor and AFSB may also renew the FA for such further terms to be mutually agreed upon by giving not less than one month’s notice in writing prior to the expiry of the Contract Period.
The group said the contract is regarded as a recurrent Related Party Transaction of a revenue or trading nature that is necessary for the day-to-day operations and is in the ordinary course of business of KPS Berhad’s subsidiary, namely, Aqua-Flo.
Under the FA, the estimated contract sum is based on approximate quantities, and the actual total quantities to be supplied shall be based on the purchase orders issued by Air Selangor.
