Selangor Journal

The State Government reject Federal Government’s decision on SPLASH

SHAH ALAM, MAR 30: The State Government firmly rejects Federal Government’s decision to fund only 60 percent of the water concession takeover involving Syarikat Pengeluar Air Sungai Selangor Sdn Bhd (SPLASH), through Pengurusan Aset Air Berhad (PAAB).
Dato’ Menteri Besar, Dato’ Seri Mohamed Azmin Ali said the decision on 60:40 ratio is described as premature since the ministers have yet to inform the State Government on the assessment value from the international independent valuer appointed by the Federal Government.
“The State Government was shocked to receive a letter from the Energy, Green Technology and Water Ministry (KeTTHA) requesting our respond on the funding method, last March 6.
“We have responded to the letter, last March 17, confirming that we shall not accept that ratio funding method.
“The State Government agrees to bring this matter again to the State Executive Council Meeting, after results from an independent valuer who we appoint is presented to the ministers, and any decision to be informed to the State Government in writing,” he said at the State Assembly Session today.
Mohamed Azmin said the proposal was rejected in consideration of the principles taken at the signing of the main agreement by all the concession companies to be taken over by State Government, based on Water Service Industry Act 2006 (Wasia).
Mohamed Azmin had earlier revealed the original offer made in the SPLASH equity takeover.
He said, SPLASH was originally offered RM2.975 billion in equity.

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