Selangor rejects proposal for 60:40 takeover of Splash

Menteri Besar Datuk Seri Mohamed Azmin Ali said the proposal was premature as the state government had yet to receive feedback from the Cabinet concerning the views of independent valuers concerning the takeover.

"The state government received a letter from the federal government dated March 6, 2017, asking for our stand on the payment mode for the takeover of Splash, which is 60 percent by the federal government through Pengurusan Aset Air Berhad (PAAB) and 40 percent by the state government.

"The state government through a letter dated March 17, 2017, stressed that it did not agree with the ratio," he said.

Mohamed Azmin was replying to a question from Datuk Sulaiman Abd Razak (BN-Permatang), on the preparations made by the state government to pay for 40 percent of the Splash equity takeover.

The state government had earlier offered RM2.975 billion for the takeover.