
Chow: PDC cooperating fully in AMLA probe into PWC project
Penang Chief Minister Chow Kon Yeow, who is also PDC Chairman, said the corporation has submitted all relevant financial documents and meeting minutes related to the PWC project to Bukit Aman, whose investigation is ongoing at the national level.
'On July 9, the Bukit Aman AMLA team visited PDC as part of a nationwide investigation into the MBI investment scheme. The visit was conducted in accordance with AMLA procedures as part of the authorities' efforts to trace and verify the flow of funds potentially linked to the scheme.
'PDC is giving its full cooperation to assist in investigating any possibility of suspicious fund movements connected to the MBI investment scheme,' he said at a press conference at the Chief Minister's Office in Komtar here today.
Elaborating further, Chow said the investigation focuses on payments made to PDC by Mutiara Metropolis Sdn Bhd (MMSB), formerly known as Tropicana Ivory Sdn Bhd (TISB), for the purchase of land involved in the PWC project between 2011 and 2019.
He said the probe is being conducted under AMLA procedures and involves multiple entities and jurisdictions across the country, with PDC being included as an interested party due to past commercial transactions carried out in accordance with proper processes during that period.
'PDC remains committed to the principles of transparency, integrity and good governance, and will continue to cooperate with all enforcement agencies. The submitted documents include four main agreements signed in relation to the PWC project to date,' he said.
He said the four agreements comprise the Sale and Development Agreement between the Penang Chief Minister (Incorporated) [CMI], PDC and Ivory Properties Group Berhad (IPGB) dated Nov 11, 2011; the First Supplemental Agreement between CMI, PDC and IPGB dated Oct 24, 2013; the Second Supplemental Agreement dated June 23, 2014; and the Novation cum Supplemental Agreement involving PDC, CMI, IPGB and TISB dated Nov 1, 2019.
He added that land reclamation work for the PWC project is currently about 68 per cent complete, with overall development progress — including current and future phases — reaching 44 per cent.
'This mega project is viewed as a catalyst for mixed development growth on the island side of the state and has involved collaboration among various parties over the past decade,' he said.
In March, Chow had stressed that PDC had no direct involvement with the MBI scheme and that its land sale processes were carried out in accordance with prescribed procedures, and not through any MBI-related transactions.
He was also reported as stating that the sale of land in Bayan Mutiara to Ivory Properties Group was conducted via a standard tender process in 2011. — BERNAMA
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Free Malaysia Today
4 hours ago
- Free Malaysia Today
No registration for RM100 cash aid, beware of scams, warns govt
Deputy finance minister Lim Hui Ying said the ministry has received complaints about fake links and messages claiming that registration is required to receive the cash aid. (Bernama pic) PETALING JAYA : The government has urged the public to be cautious of scams and other fraud attempts over the one-off RM100 cash assistance under the Sumbangan Asas Rahmah (SARA). Speaking at an event in George Town, Penang, today, deputy finance minister Lim Hui Ying said the assistance does not require any application or registration whatsoever, Bernama reported. She said the amount will be credited directly into the MyKad of all Malaysians aged 18 and above starting Aug 31. 'We have received numerous inquiries about how to register for the RM100 SARA assistance. There have also been complaints about fake links and messages claiming that registration is required to receive the aid. 'These claims are false and dangerous. Do not click on any such links, they are scams. 'I want to stress that there is no need to apply or register for the RM100 cash aid, as it will be automatically credited to the recipients' MyKad,' she said. Lim, who is the MP for Tanjung, reassured the public that there is no cause for concern as everyone aged 18 and above will receive the cash aid. 'Only if they do not receive it after Aug 31 will we take further action and inform them accordingly,' she said. On July 23, Prime Minister Anwar Ibrahim announced several major initiatives by the government, including the one-off RM100 cash aid, the postponement of toll rate hikes on 10 highways, and a drop in the price of RON95 fuel to RM1.99 per litre. Lim also said the government is open to considering the inclusion of wet goods such as chicken, meat and fish under SARA. 'We continue to listen to feedback and suggestions regarding the list of items under SARA. There have been proposals to include wet items such as fish, meat and chicken. We will consider expanding the list when the time is right,' she told reporters. She said the government expanded the SARA initiative on May 1 to include household cleaning products, such as laundry detergent and dishwashing liquid. These are in addition to the existing categories covering basic food items, medicines, school supplies, and personal hygiene products. Their inclusion increased the number of product categories from 13 to 14, covering 90,000 types of goods. This decision was based on feedback received during the implementation of SARA earlier this year, she said.


The Star
6 hours ago
- The Star
Zetrix to benefit from Malaysia's blockchain plans
PETALING JAYA: Zetrix AI Bhd, formerly known as MyEG Services Bhd , is poised to benefit from new ancillary revenue streams as Malaysia's blockchain and digital ID ecosystems enter nationwide deployment in the second half of this year, according to UOB Kay Hian Research (UOBKH Research). In a recent note, the research house said the group is well-positioned to capitalise on the full rollout of the Malaysia Blockchain Infrastructure (MBI) and My Digital ID, both being developed in collaboration with the Malaysian Institute of Microelectronic Systems (Mimos). 'Given Zetrix's partnership with Mimos for MBI, we deem that any potential nationwide policy that encourages better adoption of blockchain technology may be beneficial for the group,' UOBKH Research said. It highlighted potential use-cases such as the tokenisation of financial instruments, including bank guarantees and bankers' acceptances. It said Zetrix is also co-developing the My Digital ID Superapp with Mimos, aimed at providing a single sign-on platform for identity verification across government platforms such as MySejahtera, MyJPJ and MyHRMIS. 'Zetrix will monetise this project through one-off registration fees and recurring income via subscription modules for any commercial entity that wants to use MY Digital ID as single-login user ID solutions in the future,' it noted. UOBKH Research said Zetrix has invested over RM1bil into developing its blockchain over the past three years and has launched multiple applications, including Ztrade with China customs, certificate of origin authentication services, smart-contract verifiable credentials, and blockchain-based digital signing. 'More importantly, some of these government-to-government blockchain applications under the Zetrix platform solidify the group's presence within the domestic e-government space, with increasing adoption rates across various ministries,' it noted. UOBKH Research has maintained a 'buy' call on Zetrix, with an unchanged target price of RM1.46 a share.


The Sun
17 hours ago
- The Sun
Penang livestock revenue hits RM1.906 billion with poultry leading growth
KEPALA BATAS: Penang recorded a Livestock Revenue Value (NHT) of RM1.906 billion last year, marking an increase of RM41.54 million compared to the previous year. Chief Minister Chow Kon Yeow revealed that poultry and duck products, including meat and eggs, were the largest contributors, accounting for 91.75 per cent of the total NHT. 'The livestock industry remains a vital source of protein for the people of this state,' Chow said during his speech at the opening of the Penang Farmers, Livestock Breeders, and Fishermen Day at the Malaysian Agricultural Research and Development Institute (MARDI). Interim results from the Penang Agricultural Census 2023 showed that the livestock sector contributed 44 per cent of the state's total agricultural sales, valued at RM3.514 billion. Chow emphasised that the Livestock Enactment aims to modernise self-sustaining industries like poultry and pig farming, shifting them toward large-scale, technology-driven operations. The event, held from Friday until today, was also attended by State Agrotechnology, Food Security, and Cooperative Development Committee chairman Fahmi Zainol. Chow highlighted the adoption of closed-house farming to improve production quality and environmental sustainability while ensuring support for small-scale traditional livestock farming through the Livestock Industry Development Project. Efforts to control zoonotic diseases remain a priority to safeguard public health and industry sustainability. Chow added that Penang's agricultural strategy aligns with the National Agro-Food Policy (DAN 2.0) 2021-2025, focusing on food security. The state is also developing strategic agricultural parks like Ara Kuda and Mayfield, which utilise advanced farming technology. The federal government's Integrated Agricultural Development Area (IADA) initiative further strengthens the rice industry through 12 key programmes aimed at boosting efficiency and resilience. – Bernama