”The share sale agreement between PASSB and the relevant parties will be signed shortly, which will conclude the process of acquiring selangor`s water concession companies and thus complete the process of restructuring the water industry,” said Dr Ongkili and Abdul Khald. In the meantime, PAAB will pay RM1.68 billion to facilitate the acquisition of the concessions and, in return, the Selangor State Government will hand over the water resources to PAAB for a period of 45 years. In particular, the application for a new water supply account has been facilitated for tenants who do not have to provide documents from the owner or lessor to apply for a new water supply account. Applicants for the new water supply accounts must continue to pay stamp duty and refundable deposit. Syabas will contact the applicant for other processes, provided that the signed agreements have been concluded. PAAB will lease the water facilities to PASSB, which will pay a lease fee to PAAB at the rate set between the two parties and set out in the capital and lease agreements. In a joint statement to the media, the Minister of Energy said: Green Technology and Water, Datuk Seri Dr. Maximus Ongkili and Selangor Menteri Besar Tan Sri Abdul Khalid Ibrahim, that the framework contract was signed by the Secretary General of the Ministry of Finance Tan Sri Mohd Irwan Serigar Abdullah, Selangor Secretary of State Datuk Mohammed Khusrin Munawi, Water Asset Management Company (PAAB) CEO Datuk Ahmad Fayal Abdul Rahman. and Pengurusan Air Selangor Sdn Bhd (PASSB) CEO Suhaimi Kamaralzaman….