PBAHB and PBAPP chairman Chow Kon Yeow said this is a 107.3 per cent increase in profit before tax compared to RM32.998 million in 2022. — Bernama picGEORGE TOWN, June 27 — Penang Water Supply Corporation’s holding company, PBA Holdings Bhd , recorded a profit before tax of RM68.4 million in 2023.
The higher net profit in 2022 was due to a tax allowance while there was no such tax allowance in 2023.With the increase in water tariff rates this year, Chow said PBAPP projected a revenue increase by RM75 million for 2024 after taking into account the RM11 million domestic water rebate. “With the 2024 domestic water rates, PBAPP is still subsidising domestic water consumption at a more acceptable level,” he said.
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