In July 2009, SPLASH accepted an offer from the Selangor State - TopicsExpress

In July 2009, SPLASH accepted an offer from the Selangor State Govt to buy SPLASH for RM2.98 billion. That was before the Kajang move. After the Kajang move where Anwar Ibrahim wanted to remove MB Khalid, a water MOU was surprisingly signed by MB Khalid. The offer for SPLASH in this MOU is RM250 million instead - a staggering reduction of over 90% from the previous offer. SPLASH is 30% owned by businessman Tan Sri Wan Azmi Wan Hamzah, a known long-time Anwar Ibrahim associate. Wan Azmi also sits on the board of directors of PKRs thnk-tank, Institut Rakyat which is chaired by Anwars wife, Wan Azizah. RPK reports that Wan Azmi had asked Anwar Ibrahim to bring Wan Azmi to meet MB Khalid in order to increase the offer price but MB Khalid had rejected Wan Azmi and Anwar outright. In a letter to RPK later, Wan Azmi had subsequently confirmed that the meeting did take place and that Anwar Ibrahim was involved in setting-up the meeting. MB Khalid has commented on this meeting arranged by Anwar by saying: That means the party (PKR) allowed someone to lobby against a decision that has been made by the state government. This goes against giving power to the people, The Selangor state govt had also confirmed that the RM250 million is a fair offer and offered their reasons how they came out with the justification and that this was based on the same valuation of 12% ROE applied to the other 3 concession holders who accepted their offer. The two questions to be answered are: 1) Why was the previous offer by Selangor State Govt before the Kajang move so high at RM2.98 billion compared to RM250 million now? 2) Why should SPLASH be subjected to a different valuation compared to the other 3 concession holder? 3) Why did Anwar Ibrahim help Wan Azmi to try to lobby the Selangor State Govt to increase the offer price and how would the Selangor state benefit by increasing the price? --- malaysia-today.net/selangors-watergate-about-to-explode/ malaysia-today.net/the-splash-issue-explained/ 2009: paab.my/images/bernamaonline_general220709.pdf 2014: kinibiz/story/corporate/94362/s%E2%80%99gor-rebuffs-splash%E2%80%99s-rm2.5-bil-valuation.html SPLASH valuation explained: thestar.my/Business/Business-News/2014/07/08/Offer-for-Splash-stands-Selangor-A-revision-would-be-unfair-to-players-who-have-accepted-offer/

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