Air Selangor Holdings Bhd

What Air Selangor Holdings Bhd does

Air Selangor Holdings Berhad is a Malaysia-domiciled investment holding company incorporated on 3 December 1985 and wholly-owned by the State Government of Selangor through Menteri Besar Selangor (Incorporated) (MBI). It functions as the strategic holding vehicle for a group of five wholly-owned subsidiaries that collectively deliver water distribution, sewerage services, smart metering, green-energy asset ownership and project management services. The holding itself is lean, with 23 listed employees at the corporate level, while operational scale is concentrated in its largest subsidiary, Pengurusan Air Selangor Sdn Bhd, which is described as the largest water operator in Malaysia and supplies treated water and sewerage services to approximately 8.4 million consumers across Selangor, Kuala Lumpur and Putrajaya.

The group's business model is anchored on regulated, recurring water tariffs at the utility subsidiary level, supplemented by adjacent green-technology and smart-metering revenue streams. Cubiq Meters Sdn Bhd commercialises ultrasonic smart water meters with remote reading, non-revenue water (NRW) monitoring and intelligent data analytics for water utilities. Heliosel Sdn Bhd develops, owns and operates green-energy assets in pursuit of net-zero targets, while AIS Small Hydro Sdn Bhd holds the 10.44MW Sungai Selangor Dam small hydro powerplant. AIS Management Services Sdn Bhd provides project management and administrative support for the group's water-supply infrastructure development. Pricing for the core water business is regulated by government authorities and is not publicly disclosed; product-led expansion (meters, hydro, green assets) represents the group's diversification lever beyond regulated water revenue.

The customer base is structurally concentrated by concession design — a single regulated geography of ~8.4 million residential and commercial water users — which yields low churn but ties growth to population, tariff decisions and concession terms. Distribution is direct: water and sewerage services are delivered through the utility's own infrastructure network, and go-to-market is effectively a B2G/B2C utility model rather than a traditional sales motion. The board includes senior Selangor state officials (Menteri Besar, State Secretary, State Financial Officer), with Dato' Ts. Saipolyazan bin Mat Yusop serving as Acting President while also holding the Group CEO role at parent MBI, underscoring the tight state-strategic linkage of the holding company.

Name

Air Selangor Holdings Bhd

Legal name

Air Selangor Holdings Berhad

Website

https://aisholdings.com

Company type

Private

Founded year

1985

Operating status

Operating

Headcount range

11–50 employees

Short description

Air Selangor Holdings Berhad is a Selangor state-owned investment holding company wholly-owned through MBI, operating five subsidiaries that deliver Malaysia's largest water utility, smart metering, small hydro power and green-energy assets to ~8.4 million consumers in Selangor, Kuala Lumpur and Putrajaya.

Ownership category

akta.pro rank

Product category

Water Utility Services

NAICS

Management of Companies and Enterprises (55111)

SIC

Water Supply (4941)

akta.pro primary industry

Capital Delivery, Asset Management & Renewal Programs (Pipes, Plants, Pumps) (EUANAAAK)

akta.pro secondary industry

Water Resources, WASH & Integrated Water Management (BPADALAH)

Keywords

• Water utility services
• Green energy investments
• Smart water metering
• Hydro power generation
• Investment holding company

Headquarters

HQ city

Petaling Jaya

HQ country

Malaysia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Technology or R&D

Revenue model

1. Water Distribution Services: Revenue generated through Pengurusan Air Selangor Sdn Bhd, the largest water operator in Malaysia, distributing clean and safe treated water to approximately 8.4 million consumers in Selangor, Kuala Lumpur, and Putrajaya. Also includes sewerage services to the public.
2. Green Technology Investments: Investment holdings in green energy assets (Heliosel Sdn Bhd), smart water metering solutions (Cubiq Meters Sdn Bhd), and small hydro power generation (AIS Small Hydro Sdn Bhd) that generate returns through sustainable business operations.
3. Project Management and Administrative Services: AIS Management Services Sdn Bhd provides project management and administrative support services in relation to the development and construction of Air Selangor's water supply schemes.

Go-to-market motion1 record

Distribution channels1 record

Core offering

Air Selangor Holdings Berhad is a government-owned investment holding company that operates through wholly-owned subsidiaries to distribute treated water to approximately 8.4 million consumers across Selangor, Kuala Lumpur, and Putrajaya, while also managing green technology investments spanning renewable energy, small hydro power generation, ultrasonic smart water metering, and project management services for water supply infrastructure.

Product overview

Air Selangor Holdings Berhad is an investment holding company with a portfolio of five subsidiary companies operating in green technology and water management sectors. The core structure consists of: (1) Pengurusan Air Selangor Sdn Bhd as the primary water distribution business serving 8.4 million consumers, (2) Cubiq Meters Sdn Bhd providing smart water meter solutions with data analytics capabilities, (3) Heliosel Sdn Bhd focused on green energy asset development, (4) AIS Small Hydro Sdn Bhd operating a small hydro powerplant, and (5) AIS Management Services Sdn Bhd delivering project management support for water supply infrastructure development.

Differentiator

Problem solved

Functional benefit

Products and services

• Water Distribution and Sewerage Services

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Veolia Water Technologies & Solutions: Global water treatment and utility operations player serving municipal and industrial customers. Comparable as an established global water utility operator with smart metering and NRW management capabilities relevant to Cubiq Meters.
• Tenaga Nasional Berhad: Malaysia's largest electricity utility with growing renewables portfolio including small hydro. Comparable as a Malaysian state-linked utility with diversified generation assets and regulated returns, relevant for benchmarking the small hydro and green energy subsidiaries.
• Suez SA: Global water and waste management operator with municipal water concessions worldwide. Comparable as a large incumbent utility operator with smart water and metering solutions relevant to Air Selangor's diversified water/energy portfolio.
• Gamuda Berhad (Water Division): Large Malaysian infrastructure group with significant water treatment plant and tunnel projects, including major water-related construction contracts. Comparable as a major Malaysian participant in water infrastructure delivery and operations.
• Public Utilities Board (PUB), Singapore: Singapore's national water agency managing potable water supply, used water and drainage. Comparable as a state-owned integrated water utility with smart metering and NEWater initiatives, relevant benchmark for advanced water management practices in the region.

Regional players

• Manila Water Company: Philippine-listed water and wastewater utility serving Metro Manila's east zone with ~7M customers. Comparable as a Southeast Asian water utility of similar scale serving millions of consumers under concession arrangements.

Emerging players

• YTL Power International Berhad: Malaysian-listed power and utilities group with renewable generation and water-related businesses. Comparable as a Malaysian-listed utility with green energy exposure and small-scale generation assets relevant to Heliosel and AIS Small Hydro.

Direct peers

• Pengurusan Aset Air Berhad (PAAB): Federal government-owned water asset holding company that owns water infrastructure assets and leases them to state operators. Comparable as a Malaysian government-linked water asset/holding entity operating alongside Air Selangor Holdings.
• Syarikat Air Negeri Sembilan (SAINS): State-owned water operator serving Negeri Sembilan, Malaysia, providing water treatment and distribution. Directly comparable Malaysian state water utility with similar franchise, regulatory and operational characteristics.
• Syarikat Air Johor (SAJ Holdings): State-owned water operator in Johor, Malaysia, licensed to abstract, treat and distribute water across the state. Closely comparable as a Malaysian state-licensed water utility with similar regulatory and operational profile to Pengurusan Air Selangor.

Market position

Weaknesses4 records

Competitive moat5 records

Key risks1 record

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/air-selangor-holdings-bhd

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Air Selangor Holdings Bhd