MALACCA: Malacca State Development Corporation (PKNM) is making profits and not experiencing a deficit, its chief executive officer Datuk Ir Baharam Mohd said.
Baharam said the corporation also has RM30mil cash in savings and recorded a profit of RM3.74mil last year.
“Some confusion could have arisen because buyers wanted an extension to service their payment up to April but this is a normal business procedure that has nothing to do with a deficit,” he said when interviewed here yesterday.
Baharam said the PKNM recorded a substantial amount of profit after selling the RM21mil Go-kart facility at Ayer Keroh here which enriched the corporation’s coffers in the 2012 financial year.
He said PKNM managed to settle its annuity to the Federal Govern-ment without any outstanding amount, noting that it settled RM9.2mil in annuity last year.
Baharam was responding to reports that several state government agencies suffered losses amounting to RM360mil in total.
Chief Minister Datuk Seri Idris Haron stated that the losses came about as some agencies were mismanaging and that he was in the midst of transforming the whole structure of these organisations.
Ayer Keroh state assemblyman Khoo Poay Tiong commended Idris for not refuting the facts on the losses suffered by state government agencies.
“He (Chief Minister) has manifested good governance by admitting to the losses but he should go further by initiating a full probe on why these agencies suffered losses when they should be making money,” he said when contacted.