PDC incurs RM8mil losses

  • Nation
  • Thursday, 22 May 2003

THE Penang Development Corporation's poor management of its land has resulted in over RM8mil losses in uncollected rental on its leased properties. 

Auditor-General Datuk Dr Hadenan Abdul Jalil, in the Auditor-General’s Report on Penang 2001, said four out of 14 lease holders had not paid rent totalling RM8.58mil since 1992. 

“PDC’s land management is below satisfactory level. Its leased properties have not been managed well,” he said in the report, which was tabled at the state assembly. 

He noted that in one instance, PDC overpaid a company RM500,000 in deposit while RM300,849 in advance quit rent payment between 1982 and 1999 had yet to be recovered. 

“There has not been any changes to the rental arrears and overpaid deposit amount till now. The corporation’s lawyers are in the process of initiating legal action on the issue,” he said.  

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