Selangor Journal

Selangor Sultan pleased with Splash takeover

Photo taken from antarapos.my

By Syauqi Jamil

SHAH ALAM: Selangor Ruler Sultan Sharafuddin Idris Shah today expressed his delights over Pengurusan Air Selangor Sdn Bhd (Air Selangor) successful takeover of Syarikat Pengeluar Air Sungai Selangor Sdn Bhd (Splash).

The ruler said he was pleased to know that the buyout, meant to finally resolve the restructuring of the state water supply did not involve any financial allocation from the Selangor state fund.

“I am pleased when Air Selangor can operate with a reasonable cost at the same time ensuring that the water tariff rate does not burden the people of my state,” he said.

In his royal address at the opening of the second session of the14th Selangor Legislative Assembly sitting, Sultan Sharafuddin said the takeover had resulted in Air Selangor becoming the sole company to process, treat and distribute water throughout Selangor, Kuala Lumpur and Putrajaya.

On Aug 3, Selangor state owned Air Selangor took over Splash after agreeing to a buyout offer of RM2.55 billion.

Selangor Menteri Besar Amirudin Shari who witnessed the handing over of the offer letter ceremony explained that the amount offered was after a 28% discount based on Splash net book.

The takeover did not involve any payment by the state government and will be done in a long-term instalments within the next 9 years.

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