The sole water company that has been holding out on the Selangor government's restructuring of its lucrative water industry could be forcibly be taken over if it still does not accept the state's current offer to buy over its operations and assets for RM3.17 billion.
Menteri Besar Tan Sri Abdul Khalid Ibrahim (pic) said Syarikat Pengeluar Air Selangor Sdn Bhd (Splash) has between three to six months to think this over as the state begins the process of deprivatising and reclaiming all operations to supply treated water to more than seven million residents and in the country's most densely populated area.
Khalid said the Federal government will invoke Section 114 of the Water Services Industry Act (WSIA) to take over Splash's operations and assets, which includes a dam and a few water treatment plants in Selangor.
Last week, the two biggest operators of Selangor's water infrastructure, Puncak Niaga Sdn Bhd (PNSB) and Syarikat Bekalan Air Selangor Sdn Bhd (Syabas) had agreed to Selangor's takeover over their operations and assets, paving the way for the restructuring process. The fourth company, Konsortium Abass were the first to accept the Selangor government's offer previously.
"(The restructuring process) can be (started) without Splash. If Splash does not comply they will use WSIA on Splash. Specifically Section 114 and 191 to acquire its assets," Khalid told reporters today after the weekly exco meeting.
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