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Wednesday, November 16, 2016

Putrajaya says no hand in Splash takeover price



PARLIAMENT The federal government is not involved in the takeover bid price negotiations of Syarikat Pengeluar Air Selangor Sdn Bhd (Splash).
Energy, Green Technology and Water Minister Maximus Ongkili stressed that negotiations involved only the Selangor government and Splash.
"The negotiations are only between the willing buyer and willing seller, when you're done talking, then you come to us. To date, we are still waiting for the purchase value agreed upon by the two parties involved.
"From there, we will look at the restructuring process and how much the federal government can help in terms of lending," he said when winding up the debate on the Supply Bill 2017 at the committee level for the ministry at the Dewan Rakyat yesterday.
The takeover bid price negotiations gave rise to controversy when there was a conflict between Selangor Menteri Besar Mohamed Azmin Ali and his predecessor, Abdul Khalid Ibrahim.
Mohamed Azmin had earlier claimed the previous state government under Abdul Khalid's leadership offered RM2.98 billion for the acquisition of Splash equity between 2008 and 2014.

However, Abdul Khalid, who is also Bandar Tun Razak MP, denied the claim, saying the final offer made to Splash was RM251 million as equity payment.
Earlier, the former menteri besar, during the debate said that overpayments in the acquisition of Splash would burden the people of Selangor for the next 30 years.
He said the total cost of the acquisition of the four water concessionaires in Selangor, including Splash, was expected to exceed the amount contained in the previous agreement, which was valued at RM9.65 billion.
Bernama

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