Penang, Mutiara LRT, a game changer for Penang
GEORGE TOWN, May 22 — Chief Minister Chow Kon Yeow aims to leave Penang with RM1 billion in reserves by the end of his term in 2028, ensuring financial stability for the next administration. Speaking at the state assembly, he confirmed a RM100 million federal cash advance to offset this year’s deficit, repayable from 2027–2029. Penang’s 2025 surplus stands at RM78.2 million, with reserves at RM235.5 million. Despite deficits from 2020–2024, Chow highlighted the 2019 peak of RM1.15 billion, driven by land deals. He vowed to pursue Penang’s 20% federal tax revenue demand despite Putrajaya’s rejection.
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