The Penang chief minister says this will help the state complete important projects for its water security.
Penang chief minister Chow Kon Yeow said despite PBAHB posting a record net profit of RM167 million in 2024, the amount is not enough to support the capital works planned under WCP 2030 .GEORGE TOWN: The Penang Water Supply Corporation will raise RM1 billion through a sukuk to help fund major projects under its Water Contingency Plan 2030 , says chief minister Chow Kon Yeow .
He said the National Water Services Commission had presented the proposed review and was now awaiting Cabinet approval and consent for the various states to implement it according to their schedules.Chow said PBAPP was also exploring new water sources to reduce dependence on Sungai Muda, Penang’s only major raw water supply which supplies 80% of the water used by Penangites.
K.Pathmanathan PBAHB PBAPP Penang Penang Water Supply Corporation Sukuk Sungai Muda Sungai Prai Water Tariff WCP 2030
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