PENGURUSAN ASET AIR BERHAD (PAAB) was established on 5th May 2006 as a wholly owned company under the Minister of Finance Incorporated with the objective of being the holding company for the nation’s water assets. PAAB forms part of the Government’s efforts to restructure the water services industry in the country to achieve better efficiency and quality, as well as to ensure sustainability of the industry.
PAAB’s primary responsibility is to develop the nation’s water infrastructure in Peninsular Malaysia and the Federal Territory of Labuan, using competitive financing sourced and obtained from private financial market. The water assets are then leased to water operators licensed by the industry regulator, Suruhanjaya Perkhidmatan Air Negara (SPAN) for operations and maintenance. In addition, PAAB assists SPAN to restructure the nation’s water industry to achieve the Government’s vision for efficient and quality water services.
PAAB is also trusted in the development of Langat 2 Water Treatment Plant based on the financial assistance obtained from the Federal Government. Apart being the asset owner, PAAB has set up a Special Project Division playing an active role in managing and overseeing the development, implementation and completion of the project together with the assistance and support from the appointed Consulting Engineers and Contractors awarded for the works packages under the project.