KUALA LUMPUR (Dec 10): Kumpulan Darul Ehsan Bhd (KDEB) has extended Konsortium Abass Sdn Bhd's Klang Valley raw water abstraction right for another three months.

In a statement to the exchange today, Kumpulan Perangsang Selangor Bhd said KDEB had extended the right from December 1, 2014 to February 28, 2015.

"The agreement also provides that KDEB may, at its own discretion, grant renewals for further periods of three months each," Kumpulan Perangsang said.

Selangor government investment arm KDEB owns 57.88% in Kumpulan Perangsang.

Kumpulan Perangsang owns 90.83% in Titisan Modal (M) Sdn Bhd, which in turn, has a 100% stake in Konsortium Abass.

Konsortium Abass owns a 30-year concession for the Sungai Semenyih water supply scheme, which provides treated water to Klang Valley consumers. Konsortium Abass secured the concession in 2001.

Today, Kumpulan Perangsang shares rose three sen or 2.4% at 12.30pm to settle at RM1.29 for a market capitalisation of RM643.7 million.