Progressive Impact gets one-year extension of concession

KUCHING: Progressive Impact Corporation Bhd ( Progressive Impact) has received a one-year extension of concession agreement with an estimated value of RM22 million.

The company in a filing to Bursa Malaysia yesterday said Alam Sekitar Malaysia Sdn Bhd (ASMA), a wholly- owned subsidiary of the company had on March 24 received a letter on the same date from the Ministry of Natural Resources and Environment which notified the company that the ministry has agreed to grant the extension of concession agreement for an interim period of oneyear starting on April 14 to April 13, 2016.

Progressive Impact explained that the concession to ASMA is for the provision of environmental monitoring and data management activities.

The company added the terms and condition of the concession shall be based on an interim agreement to be entered into between ASMA and the Ministry of Natural Resources and Environment in April.

To recap, Progressive Impact said ASMA had on April 14, 1995, entered into a concession agreement relating to environmental monitoring and data management activities of the Department of Environment with the government to set forth the respective rights of the parties to implement the privatisation of the environmental monitoring and data management activities in Malaysia.

Under the concessionr, ASMA was granted the right to operate the manual ambient monitoring program for a term of 20 years from April 14, 1995 and may be extended for an additional period of five-year at the option of the government subject to the terms and conditions to be agreed upon by the parties.

Amongst the terms of the original agreement include the right to provide continuous ambient air and water quality measurement monitoring services, the right to supply source emission testing services for inventory tests of emission sources, the right to supply continuous stack emission and continuous water discharge monitors and the right for the collection, management and dissemination of environmental monitoring and analytical data which is generated in Malaysia by or on behalf of a third party under a requirement of the Department of Environment.