Water shares available in a year


Plans to enable Selangor people to own shares in the water management company was first announced prior to GE13 last year

K Pragalath, FMT

Shares of the Selangor water management company would be available within the next six months to one year, said Selangor Menteri Besar Khalid Ibrahim.

“We are in the midst of taking over the water management (from Syabas). What we promised will be given within six months to one year.

“We will need to release the prospectus first. No one would buy if they don’t know about the returns,” he said.

Khalid said this during a press conference after handing over awards at the joint management board and management corporation assembly and Selangor apartments’ smart community award ceremony.

The event was held is Selangor International Islamic University College in Bandar Seri Putra, Bangi.

Khalid said that in response to former Selangor exco Ronnie Liu’s revelation, that the Selangor people would be entitled to 2,000 shares in the state owned company as  promised prior to GE13.

“Khalid should tell us whether he will honour what we have openly declared before the last general election, that every ‘warga’ Selangor would be entitled to some 2,000 shares in the new state-owned water company.

“Khalid and the exco have agreed that upon the successful takeover, the RM10 billion water company will be owned by all the five million plus Selangor citizens, free-of-charge!” said Liu.

Selangor and the federal government signed a memorandum of understanding on Wednesday to end the water woes of Selangor and Klang Valley residents.

Under the MOU, the state government will issue a development order for the construction of the Langat 2 Water Treatment Plant (Langat 2) and its distribution system (LRAL2) (Package 2A) effective today and ensure that all approvals and authorisations relating to the LRAL2 project approved within 30 days.