Kumpulan Perangsang Selangor (KPS), famous for making a killing on the disposal of its water asset, is continuing its acquisition spree.

While detractors question whether KPS would have done better to return to shareholders more from its cash proceeds from the sale of its asset, the company’s managing director and chief executive director Ahmad Fariz Hassan reckons that KPS’ acquisitions are aimed at “generating sustainable value to shareholders”.

From it’s divestment in Syarikat Pengeluar Air Sungai Selangor Sdn Bhd (Splash), KPS received RM569.9mil upfront payment from Pengurusan Air Selangor Sdn Bhd (Air Selangor).

It will also receive another RM195mil that will be settled in installments over a period of nine years, which will include a 5.25% interest rate. KPS sees itself as moving into the manufacturing sector and been doing so through a slew of acquisitions in the last two years.

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