CM: Water Shares Prospectus to be Published after Restructuring is Successful

KAJANG, 2 Mar: The Selangor water industry shares prospectus is expected to be published in six months to a year after the after industry restructuring is successfully finalised.

The Chief Minister, Tan Sri Abdul Khalid Ibrahim, said that the time is needed to give way to the acquisition process, the restructuring of the organisation and for other research to be done before the State Government determines the price of the shares to be offered to the people.

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“Only after six months to a year of the restructuring can we issue the prospectus for the purchase of shares.

“Share buyers are not interested to buy shares if they do not know its returns, the assets and so on,” said Abdul Khalid.

He said this at a press conference after the JMB/MC Premier Assembly and the Selangor K-Star Apartments Award ceremony at the Selangor International Islamic University College (KUIS) Convention Hall here at Bandar Seri Putra today.

Before a company issues public shares with the approval from Bursa Saham Malaysia, a prospectus or public offer is to be issued first.

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It is in addition to fulfilling procedures to allow the public who are interested to buy shares to know the financial position, business activity, asset holding and returns from the investment they will make.

Abdul Khalid also assured that the State Government will not pay more than the RM9.65 billion offered for the acquisition of the four water management concessionaires in the state.

Abdul Khalid said that the RM9.65 billion offered to Syarikat Bekalan Air Selangor Sdn Bhd (Syabas), Puncak Niaga Sdn Bhd, Konsortium Abass Sdn Bhd and Syarikat Pengeluar Air Selangor Holding (Splash) is the optimum value, thus avoiding the loss of taxpayers’ money in the state.

“We cannot let the price be high, otherwise concessionaires will profit more but the people of Selangor do not want to pay more.

“If they ask for a higher price, I will fight it with the starting price of RM5 billion and not RM9.65 billion. The people of Selangor have also asked me to take it to court if they ask for more.

“If the courts ask me to pay lower from RM9.65 billion, I will pay RM9.65 billion because I have promised. These words are an assurance,” added Abdul Khalid.

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SELANGOR

CM: Water Shares Prospectus to be Published after Restructuring is Successful

KAJANG, 2 Mar: The Selangor water industry shares prospectus is expected to be published in six months to a year after the after industry restructuring is successfully finalised.

The Chief Minister, Tan Sri Abdul Khalid Ibrahim, said that the time is needed to give way to the acquisition process, the restructuring of the organisation and for other research to be done before the State Government determines the price of the shares to be offered to the people.

4.1

“Only after six months to a year of the restructuring can we issue the prospectus for the purchase of shares.

“Share buyers are not interested to buy shares if they do not know its returns, the assets and so on,” said Abdul Khalid.

He said this at a press conference after the JMB/MC Premier Assembly and the Selangor K-Star Apartments Award ceremony at the Selangor International Islamic University College (KUIS) Convention Hall here at Bandar Seri Putra today.

Before a company issues public shares with the approval from Bursa Saham Malaysia, a prospectus or public offer is to be issued first.

4.2

It is in addition to fulfilling procedures to allow the public who are interested to buy shares to know the financial position, business activity, asset holding and returns from the investment they will make.

Abdul Khalid also assured that the State Government will not pay more than the RM9.65 billion offered for the acquisition of the four water management concessionaires in the state.

Abdul Khalid said that the RM9.65 billion offered to Syarikat Bekalan Air Selangor Sdn Bhd (Syabas), Puncak Niaga Sdn Bhd, Konsortium Abass Sdn Bhd and Syarikat Pengeluar Air Selangor Holding (Splash) is the optimum value, thus avoiding the loss of taxpayers’ money in the state.

“We cannot let the price be high, otherwise concessionaires will profit more but the people of Selangor do not want to pay more.

“If they ask for a higher price, I will fight it with the starting price of RM5 billion and not RM9.65 billion. The people of Selangor have also asked me to take it to court if they ask for more.

“If the courts ask me to pay lower from RM9.65 billion, I will pay RM9.65 billion because I have promised. These words are an assurance,” added Abdul Khalid.

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Your email address will not be published.