In 1999, Perbadanan Bekalan Air Pulau Pinang Sdn Bhd (PBAPP) / Penang Water Supply Corporation was corporatised to serve as Penang’s water supply company.

PBAPP is a holistic water supplier which sources, treats, distributes and bills for water supply, operating with a licence issued by the Penang State Government.

In 2001, PBAPP became a wholly owned subsidiary of PBA Holdings Bhd (PBAHB). In 2002, PBAHB was listed on the Main Board of Bursa Malaysia (Malaysian Bourse) to facilitate equity participation by the public, water consumers and employees.