SHAH ALAM: Yayasan Selangor assets were sold because they were not economical, the state legislative assembly was told today.
Selangor Menteri Besar Amirudin Shari said the sale of the foundation’s assets was also a restructuring measure, including to reduce the burden of rental and study debt amounting to RM34 million.
“The units sold are largely for the restructuring of Yayasan Selangor and have nothing to do with the impact of Covid-19,” he said.
Yesterday, opposition leader Rizam Ismail had objected to the state government’s decision to sell 77 Yayasan Selangor assets involving various types of commercial buildings and housing units worth more than RM45 million.
Commenting further, Amirudin said the sale of some of the foundation’s assets was made following the cost of administration and management reaching up to RM2.9 million compared to the rental collection of only RM123,000.
“We cannot continue to bear the loss because some of these assets have not been leased for many years,” he said.
At the same time, he said, the state government also plans to replace the sold assets to more competitive and profitable assets as well as to repair the main assets of Yayasan Selangor located in Kampung Baru, Ampang Point and Bukit Bintang.
“We also plan to move the Menara Yayasan Selangor in Petaling Jaya to Shah Alam as its management is done here,” he said.
The assembly sitting continues tomorrow.
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