GEORGE TOWN, July 15 — The Penang state government will only disclose further details of its treated water agreement with Perak after Bursa Malaysia has been informed, Chief Minister Chow Kon Yeow said today.

The Penang lawmaker said the requirement must be observed as PBA Holdings Bhd, the parent company of the Penang Water Supply Corporation (PBAPP), is a listed company subject to Bursa Malaysia’s disclosure requirements.

He said any material development involving the company’s business must first be announced to Bursa Malaysia before further details can be disclosed publicly.

“We cannot speak in detail because Bursa Malaysia must be informed first. That is why we have to wait for the announcement,” he told a press conference here when asked why the state had delayed the signing of an agreement with Perak.

He added that PBAPP has to notify Bursa Malaysia of what has transpired first before it can publicly announce anything.

The treated water supply agreement is a commercial arrangement between Perak Water Board, the subsidiary of Khazanah Air Perak (KAP), and PBAPP.

The agreement was originally scheduled to be signed on July 10 but was postponed at Penang’s request to allow several details to be finalised.

The purchase price for the treated water has yet to be disclosed and will only be announced after the agreement is formally signed.

Last year, the Penang-Perak water project was reported to have made positive progress following a high-level meeting involving the Perak State Development Corporation (PKNP)-Gamuda consortium and the Penang government.

Asked when the agreement is expected to be signed, Chow only said an announcement would be made soon.

“I’ve already said it clearly, very soon. Wait for the announcement,” he said.