GEORGE TOWN: The state government has defended the sale of Penang Development Corporation (PDC) land in Byram to a private company, which was conducted via direct negotiation.
Chief Minister Chow Kon Yeow said the sale of land was done with full diligence and the price determined based on its existing condition.
"Since the involved land is still undeveloped (raw land), the price cannot be compared to prices of any fully filled-and-equipped-with infrastructure industrial lands like those in Taman Perindustrian Batu Kawan or Bandar Cassia Technology Park, which is priced at RM80 per square foot," Chow said in a six-point statement on Tuesday (Oct 3).
He was replying to the Penang Chinese Chamber of Commerce (PCCC), which had raised questions about the sale of the 226ha land in Byram.
Chow said he received an inquiry letter from PCCC on July 27 over the issue and responded in an official letter on Aug 25.
He also stressed that direct negotiation for projects is one of the methods to secure favourable offers.
He said based on records, the Aspen Development project covering 100ha and the University Development project by Paramount Property in Bandar Cassia were both conducted through direct negotiation.
More to come