KUALA LUMPUR: PBA Holdings Bhd today announced that its Penang water supply unit, Perbadanan Bekalan Air Pulau Pinang Sdn Bhd (PBAPP), will see a RM11 million impact on revenue from the state government's move to not bill consumers for the first 10,000 litres of water usage.
The Penang government has agreed to give for free the first 10,000 litres of water per bill for six months and issue a RM20 rebate for large households with an income of RM5,000 and below.
In a statement filed with Bursa Malaysia Securities today, PBA Holdings said the projected impact on PBAPP's revenue in the period from July 1, 2024 and Dec 31, 2024 will be about RM11 million.
As at May 2024, there are about 597,000 registered domestic water consumers in Penang.
This temporary "no charge for the first 10,000 litres" measure is only applicable for domestic water consumption and does not apply to four other categories of water consumption, namely non-domestic; domestic bulk meter; shipping; and houses of worship and welfare institutions.
PBAPP will also expand its 'Mesra Keluarga' rebate scheme, which takes RM20 off domestic water bills for qualified large households of more than eight people with a maximum household income of RM5,580 per month.
Previously it was for large households with a maximum household income of RM2,250 per month.
PBA Holdings' share price was down 3.2 per cent to RM1.79 a share at midday.