Splash takeover still a waiting game

The Selangor state government is still waiting for the Cabinet’s feedback on the total value of Syarikat Pengeluar Air Selangor Sdn Bhd’s (Splash) assets takeover from the federal government-appointed independent valuer.

Mentri Besar Datuk Seri Mohamed Azmin Ali said the matter was brought up during his meeting with Treasury Secretary General Tan Sri Dr Mohd Irwan Serigar Abdullah last week.

“In my meeting with the Treasury secretary general on July 18, I brought the matter up and he assured me that it would be discussed with the finance minister,” Mohamed Azmin was quoted as saying in the state government’s news portal.

“We still do not know the Splash takeover value from the federal government’s independent evaluator, so how can we agree? This is a transparent process, and the real worth has not been stated,” he said.

As such, Mohamed Azmin informed that the state government could not settle for the 60:40 value, without knowing the exact worth of the takeover.

Mohamed Azmin also told the state assembly that his administration would not accept any proposal to increase the water tariff in the Klang Valley.

On March 29 this year, the state government and the concessionaires were given another six-month extension to resolve the differences.

An independent valuation of Splash, cited as the main reason behind the delays, will not be made public.

The valuation, commissioned by the federal government at the end of last year, failed to end the impasse which had dragged the water issue for years and put the state at a possible water crisis.

Energy, Green Technology and Water Minister Datuk Seri Dr Maximus Johnity Ongkili said the independent valuation has been completed, and discussions between Splash and the state government have also started.

“We have completed the valuation. It is only for an internal consumption for the federal government,” he told The Malaysian Reserve.

Ongkili, however, denied that Putrajaya was delaying the takeover process as alleged by the Selangor government.

“We are not delaying. The issue in dispute was the valuation. So, we had to carry out a second valuation just to back our earlier estimates,” he said.

Although he did not reveal the result of the evaluation, Ongkili said the latest asset value analysis was consistent with the federal government’s previous assumptions of Splash’s assets. — TMR