Selangor water concessionaire Syarikat Pengeluar Air Selangor Holdings Berhad (Splash) will meet with the state next week to get more details on the takeover offer made by the latter yesterday.

However, a Splash official who spoke under condition of anonymity said that the concessionaire is mostly “positive” on the offer,  which analysts say will see the 40 percent Gamuda-owned company earn RM743 million cash.

“We are seeking more details on a clause pertaining to the payment of surplus book value of assets over liabilities,” he said.

The state is offering Splash RM1.83 bil to take over its water assets plus equity. Selangor Menteri Besar Abdul Khalid Ibrahim said this would mean a 12 percent return on equity per annum, double that currently enjoyed.

The state is offering a cumulative RM9.65 billion to concessionaires Splash, Konsortium Abass Sdn Bhd (Abass), Puncak Niaga Sdn Bhd and Syarikat Bekalan Air Selangor Sdn Bhd (Syabas).

This is the state’s fourth and highest offer since 2009. Syabas is 70 percent-owned by Puncak Niaga Holdings Bhd.

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