Selangor to Pay RM2.55B for SPLASH Takeover

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The takeover was postponed in the past due to a stalemate between Putrajaya and the PH-led state government.

Bernama

Selangor’s state-owned water company Pengurusan Air Selangor will pay RM2.55 billion to buy water concessionaire Syarikat Pengeluar Air Selangor (SPLASH), Menteri Besar Amirudin Shari said today.

This comes just two days after former prime minister Najib Razak said the state would purchase SPLASH for RM2.7 billion in a deal he said would benefit a ‘Tan Sri’ with a 30% stake in the company.

Economic Affairs Minister Mohamed Azmin Ali has denied the claim.

The deal is part of a restructuring process of Selangor’s water industry that was put on hold due to a stalemate between the state government and the then Barisan Nasional-led federal government.

Azmin, who was formerly Selangor menteri besar, had refused a proposal where the state would bear 40% of the takeover with the rest from the federal government. – FMT