Pembelian SPLASH adalah cara PKR mahu bina dana piihanraya melalui rasuah:
Nampak sangat rasuah bila dari RM250 juta, naik ke RM2.5 billion dan terkini RM3 bbillion. Hairan kenapa mahu tangguh lagi:
Azmin Ali has just announced that the deadline for the takeover of SPLASH has been delayed yet again - costing the Selangor Rakyat another RM140 million.Takut ....?
Initially, there was a two year delay for taking over SPLASH from 2014, the year Khalid was removed to a deadline of end Sept 2016.
The deadline was then delayed for 6 months to end Mar 2017 and now it is delayed another 6 months to Oct 2017.
As early as the year 2014, I had warned that any delay is to the benefit of the SPLASH shareholder and a loss to the Selangor people and that there is little hurry for SPLASH to complete the deal soon.
This was because the SPLASH concession awarded during Daim and Mahathir time is very lucrative with incredible profit margins and little risk or expenses.
SPLASH makes profits of RM400 million every year and hence taking out Selangor's 30% stake, every 6 months delay cost the Selangor Rakyat RM140 million.
All in all, with the newest Oct 2017 deadline - a delay of 3 years would means that Khalid's removal will cost the Selangor Rakyat about RM840 million in lost profit.
And should the deal eventually close at RM3 billion instead of the RM250 million insisted on by Khalid, it will cost the Selangor Rakyat another RM2.75 billion - taking the total to RM3.6 billion loss.
The latest delay is due to this increased offer price of RM3 billion. The Selangor Govt via Azmin Ali had signed to borrow RM9.75 billion from the Federal Govt to privatize the state water assets - which is based on the RM250 million purchase price for SPLASh.
Because of this sudden increase of up to RM2.75 billion, the Federal Govt had asked the Selangor Govt to pay 60% of this increase of up to RM1.65 billion while the Federal Govt will pick up the remaining 40% by increasing the RM9.75 billion package.
Despite having RM3.9 billion in state reserves, Azmin refuses to pay the RM1.65 billion and insist the Federal Govt loan Selangor the full amount.
Hence, the deal cannot be completed by end March and is now delayed to Oct 2017 - causing another RM140 million loss to Selangor Rakyat.
This is really strange as RM140 million out of RM1.65 billion for 6 months is a return on investment of 17% per annum - far higher than any interest rates out there.
It is Selangor Rakyat and Selangor Govt's benefit to pay the RM1.65 billion - but strangely, Azmin refuses.
Thus the concession company, were a known PKR associates own 30%, enjoys another 6 months of bumper profits.
He now ask people to blame the Federal Govt for not loaning the full amount instead and causing this delay instead.
Kini nampak reaksi Azmin yang enggan minta maaf dengan Tan Sri Khalid: