Penang open to renegotiating Karpal Singh Drive reclamation project
Chief Minister Chow Kon Yeow stated that the state remains committed to adhering to the Environmental Impact Assessment (EIA) process before making any final decisions.
Chow clarified that the public engagement session concluded on June 30, and the developer must address all concerns before proceeding. The project developer has until February next year to secure EIA approval.
'If approval is not granted, the project may not proceed. If approved, we are open to reviewing implementation methods to minimise environmental impact,' he said after officiating a new public market and hawker centre in Bandar Cassia.
The ProtectKarpal group, consisting mainly of Karpal Singh Drive residents, raised objections regarding construction methods and environmental risks. They also urged the gazetting of the nearby Middle Bank as a marine sanctuary due to its ecological significance.
Chow acknowledged these concerns, stating the state government is open to discussions despite an existing agreement between the Penang Development Corporation (PDC) and the developer.
'Adjusting the project scale may require compromises, particularly in land allocation, but balancing development and sustainability is crucial,' he added. The RM1 billion Jelutong landfill redevelopment, initiated in 2020, remains under scrutiny as environmental assessments continue.
Meanwhile, the RM46 million Bandar Cassia public market and hawker centre project is set for completion by June 2027. - Bernama
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
BusinessToday
3 hours ago
- BusinessToday
Unlicensed Trader Jailed 20 Years, Fined RM9 Million For Defrauding
The Kuala Lumpur Sessions Court has sentenced Mohd Azhidi Laili to 20 years' imprisonment and a RM9 million fine for unlicensed trading and derivatives fraud involving a fake crude palm oil futures investment scheme. In a statement, the Securities Commission Malaysia (SC) said Azhidi, who posed as a licensed futures trader, cheated nine victims of RM1.45 million between May 2013 and March 2014. He pleaded guilty to nine charges under Section 206(b) of the Capital Markets and Services Act 2007 (CMSA) and one charge under Section 59(1) for acting without a licence. 'The outcome reflects the seriousness of the offences and their impact on the capital market,' the SC said, adding that the case underscores the importance of protecting investors from fraudulent schemes. SC shared that Azhidi received two years' jail and a RM1 million fine for each charge, with prison terms to run concurrently. Failure to pay the fines will result in an additional 27 months in prison. The commission reminded the public to remain vigilant and verify the legitimacy of any investment offers before committing funds.
The Sun
5 hours ago
- The Sun
Unlicensed trader jailed 20 years, fined RM9m for FCPO fraud in Malaysia
KUALA LUMPUR: The Sessions Court has sentenced an unlicensed futures trader to 20 years in prison and a RM9 million fine for fraudulent activities. Judge Hamidah Mohamed Deril delivered the verdict after Mohd Azhidi Laili pleaded guilty to nine charges under the Capital Markets and Services Act 2007. Each charge carried a two-year jail term and a RM1 million fine, with sentences to run concurrently. Failure to pay the fine would result in an additional 27 months of imprisonment after completing the initial sentence. Mohd Azhidi falsely posed as a futures trader between May 2013 and March 2014 in Kuala Lumpur. He deceived nine victims into investing RM1.45 million in a non-existent crude palm oil (FCPO) scheme under AmFutures Sdn Bhd. The court also sentenced him to two years for falsely representing himself as an AmFutures agent without a licence. This sentence will run concurrently with his other jail terms. The Securities Commission initially charged Mohd Azhidi on February 14, 2022, two days after his arrest. He was released on RM250,000 bail but later failed to attend court hearings and monthly reporting sessions. His bail was revoked on May 21, 2024, and he was ordered to serve his sentence from that date. The trial saw 28 prosecution witnesses, including seven victims, testify between February 2023 and March 2025. Mohd Azhidi initially claimed trial but later changed his plea to guilty. The prosecution was led by Deputy Public Prosecutor Mohd Izuddin Mohamad and a team of SC officers. Mohd Azhidi was represented by lawyer Al-Sabri Ahmad Kabri. - Bernama
Barnama
6 hours ago
- Barnama
Unlicensed Futures Trader Jailed 20 Years, Fined RM9 Mln For FCPO Fraud
KUALA LUMPUR, Aug 8 (Bernama) -- The Sessions Court has sentenced an unlicensed futures trader to a total of 20 years imprisonment and a fine of RM9 million for unlicensed activities and derivatives fraud. The Securities Commission of Malaysia (SC), in a statement today, said that Judge Hamidah Mohamed Deril meted out the sentences yesterday after Mohd Azhidi Laili pleaded guilty to nine charges under Section 206(b) of the Capital Markets and Services Act 2007 (CMSA). It said Mohd Azhidi was sentenced to two years imprisonment and a fine of RM1 million in default three months imprisonment for each charge, with the jail terms to run concurrently. "If Mohd Azhidi does not pay the fine, he will face a further imprisonment of 27 months after the completion of his jail term," read the statement. Mohd Azhidi, who had falsely represented himself as a futures trader, committed the offences between May 2013 and March 2014 in Kuala Lumpur. "According to the facts of the case as admitted by Mohd Azhidi, he had deceived nine victims of a total of RM1.45 million for a purported futures crude palm oil (FCPO) investment scheme under AmFutures Sdn Bhd, which did not exist," the commission said. The court also sentenced Mohd Azhidi to two years' imprisonment after he pleaded guilty to a charge under Section 58(1) of the CMSA for holding himself out as a representative of AmFutures Sdn Bhd without being licensed or registered for dealing in derivatives, and ordered the jail term to be served concurrently. Mohd Azhidi was initially charged by the SC on Feb 14, 2022, two days after his arrest, and he claimed trial to all the charges and was released on bail of RM250,000 with two sureties. He was also ordered to surrender his passport and to report to the SC's Investigating Officer once a month. "The trial proceeded from February 2023 to March 2025, after which he decided to change his plea to guilty. 28 prosecution witnesses, including seven victims, testified in court," read the statement.
