State Gerakan Acting Youth Chief Jason Loo also claimed PDC, which had held 49 per cent of Tropical Island Resort Sdn Bhd (TIR), did not make public on how the shares were disposed.
“Why were the shares in the Jerejak island resort sold off quietly?” Loo said, after the controlling shareholder of the resort announced it was now collaborating with a private developer.
Loo also questioned if PDC had sold their shares via an open tender as per state government norms or through a direct deal.
“The chief minister and his administration have been silent on the sale of the 49 per cent stake. Why did PDC sell its shares secretly? It was only after TIR made the announcement, that we all found out about it.
“Why did PDC not acquire the remaining 51 per cent in the company, as per their chairman’s announcement previously?” Loo charged, referring to Penang Chief Minister and PDC Chairman Lim Guan Eng.
TIR used to be a joint-venture company between PDC and the Urban Development Authority (UDA), which is a Federal agency.
Recently, TIR announced that it had teamed up with Penang-based property developer, Ideal Properties, to redevelop an existing resort and 32 hectares of land on the island, which is located between Penang island and the mainland.
The redevelopment plan comprises a bridge linking Pulau Jerejak to the main Penang island, 1,200 homes, a marina, hotels, a theme park, a 11.5km round-the island cycling track and related infrastructure to promote tourism in the state.
TIR said the resort, which has been closed since May, had reportedly sustained “heavy losses” since it began in 2004.
Yesterday, Lim had said it had indeed sold its stake in TIR for a handsome profit, through a “government to government” deal with UDA.
He said questions by Gerakan should be put to UDA, which ultimately held the full 100 per cent stake in the resort. He added a statement on the matter would be released today.
http://www.freemalaysiatoday.com/category/nation/2015/12/30/gazette-pulau-jerejak-as-forest-reserve-says-penang-gerakan/