Datuk Seri Hong Yeam Wah has called for a reshuffling of the Penang Development Corporation’s (PDC) management following a controversial deal involving state land. The president of the Penang Chinese Chamber of Commerce (PCCC) believes that the land sale fiasco has exposed the arrogance of the PDC management, and has seriously affected the organization’s image and reputation. Hong Yeam Wah expressed these sentiments during a press conference on Wednesday (Oct 18).
On Tuesday (Oct 17), the board of directors of the PDC decided to terminate its joint venture (JV) agreement with UMECH Land Sdn Bhd (UMECH) due to a change in the company’s equity structure. The PDC has stated that it will advertise a Request For Proposal (RFP) for collaboration in developing the Batu Kawan Industrial Park 2 (BKIP2) following the termination of the contract.
Earlier, the PCCC had questioned the selling price and the method of sale for the 226.2ha (559-acre) land near the former Byram estate. They alleged that the industrial land’s current market price is RM80 per sq ft and questioned both the selling price and the four-year term payment. The chamber also raised concerns about the lack of an open tender process in the sale of the land to a private company.
At the press conference, Tan Sri Tan Kok Ping, the PCCC’s honorary president, joined Hong Yeam Wah in calling for an investigation into the PDC and its handling of the land deal. Tan Kok Ping stated that the state government should take action to investigate the matter.
In conclusion, Datuk Seri Hong Yeam Wah has demanded a reshuffling of the PDC’s management in response to a controversial deal involving state land. The termination of the JV agreement with UMECH has led to plans for the development of the BKIP2 being opened up to proposals. The PCCC has raised questions about the selling price, payment terms, and lack of an open tender in the land sale, and has called for an investigation into the PDC’s actions.
