Malaysia has opened an ad campaign to correct what it calls Singapore's "misconceptions and allegations" over the two nations' deep-seated water row, local media reported today.

The ads in the four major Kuala Lumpur dailies say Singapore, which is dependent on Malaysia for half its daily raw water needs, made a whopping RM662.5 million (US$174.3 million) profit in 2001 alone from raw water supplied by Malaysia.

It paid only RM2.39 million for the water sourced from southern Johor state, the ads say.

The full-page ads from the National Economic Action Council (NEAC) proclaim in bold capitals: "The Singapore government has gone all over the world and tarnished the name of Malaysia. It is time to set the record straight."

The ads end with the clincher, "Malaysia gets nothing. Singapore gets rich."