04/03/2024 04:32 PM

SHAH ALAM, March 4 (Bernama) -- The state government’s subsidiary, the Selangor State Development Corporation (PKNS), is in good shape financially and remains profitable, according to Menteri Besar Datuk Seri Amirudin Shari.

The corporation’s cash flow is also at a better level, he told the state legislative assembly, denying claims that it is in a bad financial situation with debts amounting to RM5.7 billion. 

“PKNS is still making a profit from its main operating income. In fact, PKNS's cash flow is at a better level and it is able to settle all its liabilities,” he said in reply to a question from state opposition leader Datuk Seri Mohamed Azmin Ali (PN-Hulu Kelang), who asked whether PKNS has a huge debt burden amounting to RM5.7 billion. 

Commenting further, Amirudin said PKNS's main income is generated through its operations, not from sukuk income or loans provided.

He said PKNS's sources of income from 2018 to 2022 were from sale of buildings and lands, as well as from privatisation.

The main income of PKNS during the period came from property sales, which amounted to about 60 to 80 per cent of the total income, he added. 


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