NWP Holding set to be Sabah utilities player

KUALA LUMPUR: NWP Holding Bhd has acquired a 51 per cent stake in Sinar Majumas Sdn Bhd from Almaniaga Sdn Bhd, paving the way for it to be a utilities player in Sabah.

Sinar Majumas currently holds the rights to undertake and manage the installation and connection of electric and water supply to 27 refugee settlement sites in Sabah.

NWP's Advisor, Datuk Muhammad Hatta Aziz, said this was a business opportunity and an initiative that indirectly helped the state government reduce losses due to water and electricity supply theft.

"Under the deal, NWP will pay RM1.5 million to Almaniaga for the controlling stake and invest another RM6.3 million for the construction and infrastructure cost for an initial nine sites," he said.

Muhammad Hatta said this at a signing ceremony between NWP and Almaniaga for the proposed stake buy here yesterday.

The cost of construction at the balance of 18 sites will be financed via cash flow generated from the initial nine sites which are targeted to begin supplying water by year-end.

The project is expected to be profitable within two years.

He said currently the conditions of the settlement sites were not organised.

"If they are given water and electricity, the sites woud be more organised and hence will get the help of the government," he said.

The settlements are under the supervision of Federal Special Task Force of the National Security Council of Malaysia.

Anzah Sdn Bhd Managing Director, Datuk Alimuddin Mallorong, said nine out of 27 refugee settlements had been picked to be in the first phase of the project.

He said the first phase would involve installing the water supply system and supplying the water.

"The electricity supply will be implemented in the second phase in accordance with the terms agreed by the Sabah Electricity Board," he said.

Anzah is the parent company of Almaniaga.

Thousands of refugees in 27 settlements in Sabah will be enjoying better electricity and water supply by using prepaid services method, the first ever in Malaysia.

This initiative will continue in stages in order to improve the quality of life for every refugees in Sabah. — Bernama