Splash takeover on track, says Selangor MB

(Malaysian Reserve) – Syarikat Pengeluar Air Selangor Holdings Bhd’s (Splash) prolonged takeover has reached the end of negotiations and is ready to be documented, said Mentri Besar (MB) Amirudin Shari.

“We have reached a decision in the negotiations and are just waiting to put it in black and white, but the process could take a while as it involves a master agreement between all parties,” he said at the Selangor State Development Corp’s (PKNS) 54th anniversary celebration in Shah Alam yesterday.

Amirudin said the outcome of the discussion would satisfy the interests of all parties involved and, at the same time, benefit the state and federal governments.

“In my view, the deal is done, however, as it requires a huge amount of money, we want to make sure the state and Splash are satisfied with what we have come up with.”

The state’s takeover of Splash has been criticised by industry experts due to its prolonged negotiation. On July 27, Water, Land and Natural Resources Minister Dr Xavier Jayakumar announced that the acquisition could be finalised by Aug 10.

Amiruddin said it was uncertain as to whether the acquisition could be officially finalised according to the Aug 10 dateline.

“The process could take a long time, so I do not know whether we can meet the deadline. I, however, think that it is possible if all parties truly want to abide by the deadline.”

Industry talks had surfaced when it was reported that the federal government is set to fork out RM1.9 billion for the deal out of a total consideration of RM2.5 billion-RM2.7 billion.

Dr Xavier, however, refuted the claim, saying he did not recall mentioning the price for the water acquisition.

“Negotiations are ongoing because I’ve given them a deadline and I’d like them to keep to it,” said Dr Xavier in an earlier report.

PKNS is a statutory body and development agency established to assist in overseeing Selangor’s economic distribution and socio-economic growth. In 2017, Selangor remained at the top of Malaysia’s contributing state, making up 23% of the country’s total gross domestic product.

Also present at the event were PKNS CEO Datin Dr Noraida Mohd Yusof and Selangor state secretary Datuk Mohd Amin Ahmad Ahya.