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Privatisation failure spurs S’gor govt to take over water

Anil Netto
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Selangor is in the midst of crucial negotiations to take over the water assets of four concessionaires operating in the state.

The negotiations are critical as Selangor residents are staring at a steep water tariff hike by the end of March if the present situation persists.

Private water distribution company, Syabas, 70 per cent owned by Puncak Niaga, had last year asked for a tariff hike by January 2009. In December, the Water Minister Shaziman Abu Mansor said that according to the concession agreement, water tariffs in Selangor and Kuala Lumpur would be hiked by up to 37 per cent in January 2009.

This tariff hike was delayed to 31 March 2009 to allow time for the Selangor government to take over the water assets from the four concessionaires.

Under the lop-sided concession agreement, water tariffs are expected to be hiked as follows:

  • Up to 37% in 2009
  • 25% in 2015
  • 10% in 2019
  • 5% in 2021
  • 5% in 2024
  • 5% in 2027
  • 5% in 2030

Source:  Background Note to Public Briefing by the Water Review Panel, Selangor State Government

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Puncak Niaga spent RM11m on directors in 2007

Anil Netto
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UPDATED 2.30PM: Let’s take a quick look at Puncak Niaga, one of the main water concessionaires in Selangor.

You can see that the firm is making huge profits. (Profits for 2006 were higher as there was a gain arising from the partial disposal of a subsidiary of RM206m in 2006.)

The group had close to a billion ringgit in deposits, cash, and bank balances as at 31 December 2007 and a net current asset ratio of 1.2. In other words, very liquid.

Syabas, which is 70 per cent owned by Puncak Niaga, received a government grant of RM250 million (that’s our money) “solely for the purpose of financing the costs and expenditure of the non-revenue water” to reduce unaccountable water loss.

The federal government also provided a support loan (current carrying amount close to RM80 million) to finance construction of the Wangsa Maju water treatment plant. It was originally repayable over 20 years (from 1999) at 8 per cent interest rate. But in 2004, the federal government “restructured” the loan: the interest rate was reduced to 3 per cent per annum retrospectively and the repayment schedule revised. How thoughtful.

Having made super profits with the help of public money, Puncak Niaga is now asking for a higher price than what the Selangor government is prepared to pay (RM1.6 billion for Puncak Niaga and RM1.5 billion for Syabas) to nationalise water assets in the state.

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Large crowd in Klang for ceramah on Perak crisis

Anil Netto
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0044: Revised estimate of crowd size is 3,500-4,000, according to organisers, who say there were 2,500 inside the hall and the rest outside – difficult to estimate accurately as lots of people going in and out during the ceramah. A couple of you, however, are saying the turnout was just 1,000.

2220: The crowd has now swelled to 6,000, according to organisers.

2100: Some 3,000 people have turned up at the Dewan Hamzah, MPK in Klang tonight for a Pakatan ceramah on the crisis in Perak. Among the speakers are Khalid Samad and Charles Santiago.

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Public briefing: Selangor’s takeover of water

Anil Netto
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Here’s your chance to make your voice heard.

The Selangor state government is holding a public briefing on the status of its takeover of the water sector in line with its ‘merakyatkan ekonomi Selangor‘ policy aim of realising a ‘welfare state’.

It’s the first time a public briefing on the status of the water sector “restructuring process” is being held.

Wed, 18 February, 11.00am
Auditorium Dewan Jubli,
Bangunan SSAAS, Shah Alam.

Members of the Water Review Panel of the Selangor state government will brief the public. Among the speakers are economists Subramaniam Pillay and Charles Santiago.

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Images from the RPK ISA trial

Anil Netto
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Photos by a citizen reporter providing us with live coverage

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Supporters wait anxiously outside court

Puncak, Gamuda fall as S’gor bids to nationalise water

Anil Netto
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The Selangor government is attempting to take over the water assets from the concessionaires in the state, namely Puncak Niaga, Splash, and Syabas. The state government wants to nationalise the inefficient water sector – and prevent a 30 per cent tariff hike from April.

The concessionaires, on the other hand, are asking for a much higher price, based on discounted cash flow (of future profits) and future tariff hikes assuming the concession is allowed to continue.

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LIVE: Application to recuse Augustine Paul rejected

Anil Netto
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RPK supporters waiting anxiously outside the court room. Photo by Rakyat@work

Rape of the Tanjung Bunga hill-slopes

Anil Netto
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Scary development – Google Earth picture sent in by a Tanjung Bunga resident

While our media are all hot and bothered about some photos of a female politician circulating around, the rape of our hill-slopes continues.

Mind you, this picture was taken in 2005 – nearly four years ago. Since then, things have got a lot worse.

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Why Tg Bunga residents are protesting…

Anil Netto
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A cover-up job?

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One of the projects on the steep hill-slopes of Tanjung Bunga Photos by a Tanjung Bunga resident

Just to recap, some one hundred residents of Tanjung Bunga protested at development projects on steep hill-slopes by banging pots and pans on Valentine’s Day. Many of the residents there are living in fear, especially during thunderstorms.

Before anyone else asks why these residents didn’t protest earlier, they did.

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Federal Court to hear appeal against RPK’s ISA release

Anil Netto
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Rakyat@work reports from KL:

Tomorrow may never come.

That’s the apprehension; yet it’s the truth for RPK, Raja Petra Kamarudin. Just read today’s Malaysia Today “No Holds Barred” and needless to say, he sounds downright sorrowful.

Tomorrow’s court case could decide his fate.  An ‘Anak Bangsa Malaysia’ is being put on trial once again. Will there be a better tomorrow for him – and for us?

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