Latest news with #PH-BukitTambun
The Star
21-05-2025
- Business
- The Star
Penang state financial performance shows significant decline, say Opposition
GEORGE TOWN: The state government's financial performance recorded a 52% decline in consolidated funds, says Opposition Leader Muhammad Fauzi Yusoff. He cited the Auditor-General's Report from October 2024, which indicated a drastic decline in the state's financial performance. "The revenue account fell 52% in 2023 from 2022, while the consolidated trust account showed a 2.9% decrease. "This comparison is unbalanced, especially when the state government's expenditure increased by 13.9% while state revenue decreased by 0.4% in the same period. "If this situation continues, the state will face a critical cash flow risk. "This could affect the state's financial management and administrative expenses, including the salaries of civil servants," he said during a press conference at the opposition room at the August House on Wednesday (May 21) along Light Street, George Town, Penang. Muhammad Fauzi (PN-Sungai Dua) said the state needs a financial recovery plan for the next five years to address these financial risks promptly and thoroughly. "A review of critical and non-critical expenditures is necessary. "They need to improve their administrative structure and procedures so that the people of Penang do not fall victim to the state's management weaknesses," he said. He emphasised the importance of raising these issues as the opposition to represent the people's voice and prevent them from suffering due to administrative shortcomings. "Penangites deserve a responsible government that knows how to prioritise. The state should not use policies to pressure Penangites and increase charges to boost state revenue," he said. Muhammad Fauzi addressed Chief Minister Chow Kon Yeow's plans to raise state revenue through quit rent arrears collection, state land sales, and reviewing various fees and charges. On Tuesday (May 20), Chow outlined strategies to increase state revenue, including selling more state land, collecting an estimated RM6mil in quit rent arrears, and reviewing land title conversion processes, liquor licence fees, entertainment duties, and hotel room fees. 'The state government is also aiming to reduce expenditure, but costs continue to rise each year due to salary realignments, which increase emoluments,' Chow said in reply to a question from Goh Choon Aik (PH-Bukit Tambun) during the state assembly. Other revenue efforts include higher animal treatment fees and revised ornamental plant rental rates at Penang Botanic Gardens.
The Star
20-05-2025
- Business
- The Star
CM outlines nine strategies to increase Penang revenue
Penang government has outlined nine strategies to increase state revenue. These include selling more state land, collecting an estimated RM6mil in quit rent arrears, reviewing land title conversion processes, as well as reviewing liquor licence fees, entertainment duties and hotel room fees. 'The state government is also aiming to reduce expenditure, but costs continue to rise each year due to salary realignments, which increase emoluments,' Chief Minister Chow Kon Yeow said in reply to a question from Goh Choon Aik (PH-Bukit Tambun) during the state assembly sitting at Penang Legislative Assembly building in George Town. Other revenue efforts include higher animal treatment fees and revised ornamental plant rental rates at Penang Botanic Gardens. Chow also touched on the RM100mil advance from the Federal Government which was intended as contingency funds to cover a potential deficit. 'Penang government's projected deficit of over RM500mil for 2024 did not happen due to increased revenue; it was reduced to around RM100mil. 'The advance payment remains available but it must be repaid to the Federal Government,' he said. In a statement, Penang MCA chairman Datuk Tan Teik Cheng termed the nine proposed strategies as a move that would eventually burden the public. 'The government's recent announcement to raise taxes, fees and charges – including liquor licence fees, quit rent enforcement and even veterinary service charges – raises concerns over fiscal management under the DAP-led administration. 'These measures will directly impact the daily lives of Penangites, the business community and even tourists,' he said. Tan said the admission that Penang had to seek over RM100mil in advance from Putrajaya underscored the severity of the state's financial position. — By IMRAN HILMY
The Sun
19-05-2025
- Business
- The Sun
Penang records RM65.27m surplus, identifies new sources of revenue
GEORGE TOWN: Penang recorded a financial surplus of RM65.27 million as of March 31 after the state government earned income of RM268.46 million, exceeding expenditure of RM203.18 million. Chief Minister Chow Kon Yeow said the State Government Consolidated Fund comprised RM1.54 billion consisting a consolidated revenue account of RM199.22 million and a consolidated trust account of RM1.34 billion as of April 30. 'The financial statement for 2024 (unaudited) shows the consolidated fund position at RM1.38 billion compared to RM1.46 billion in 2023 comprising a consolidated revenue account of RM155.94 million and a consolidated trust account of RM1.23 billion. 'The consolidated revenue account decreased by RM174 million compared to 2023 while the consolidated trust account increased by RM92.79 million compared to 2023,' he said in reply to a question from Goh Choon Aik (PH-Bukit Tambun) on the latest figures for the state government's consolidated revenue account, consolidated trust account and consolidated fund at the Penang State Legislative Assembly sitting here today. Chow added that the state government ended the 2024 financial year with a current deficit of RM174 million, which is lower than the 2023 deficit of RM358.8 million. He said the shortfall was due to revenue of RM810.4 million compared to operating expenses of RM719.5 million and transfers to the development fund amounting to RM265 million. He said Penang had received an advance from the federal government of RM100 million to cover cash flow, which among other things contributed to the increase in the consolidated trust account. Meanwhile, Chow explained that the Penang State Finance Department has taken the initiative to identify new sources of income for this year through two series of workshops to strengthen the financial position. 'The two workshops are the Workshop on Reviewing Rates, Revenue Collection Procedures and Identifying Arrears and Reductions in Penang State Revenue on Aug 2-4, 2024 and the Workshop on Direction and Revenue Improvement of Administrations and Agencies under the state government on Jan 15-18, 2025. 'The results of the two workshops have produced 24 strategies to increase or stabilise revenue. Nine strategies are currently being implemented this year,' he said.
The Sun
19-05-2025
- Business
- The Sun
Penang posts RM65.27m surplus, eyes revenue strategies
GEORGE TOWN: Penang recorded a financial surplus of RM65.27 million as of March 31 after the state government earned income of RM268.46 million, exceeding expenditure of RM203.18 million. Chief Minister Chow Kon Yeow said the State Government Consolidated Fund comprised RM1.54 billion consisting a consolidated revenue account of RM199.22 million and a consolidated trust account of RM1.34 billion as of April 30. 'The financial statement for 2024 (unaudited) shows the consolidated fund position at RM1.38 billion compared to RM1.46 billion in 2023 comprising a consolidated revenue account of RM155.94 million and a consolidated trust account of RM1.23 billion. 'The consolidated revenue account decreased by RM174 million compared to 2023 while the consolidated trust account increased by RM92.79 million compared to 2023,' he said in reply to a question from Goh Choon Aik (PH-Bukit Tambun) on the latest figures for the state government's consolidated revenue account, consolidated trust account and consolidated fund at the Penang State Legislative Assembly sitting here today. Chow added that the state government ended the 2024 financial year with a current deficit of RM174 million, which is lower than the 2023 deficit of RM358.8 million. He said the shortfall was due to revenue of RM810.4 million compared to operating expenses of RM719.5 million and transfers to the development fund amounting to RM265 million. He said Penang had received an advance from the federal government of RM100 million to cover cash flow, which among other things contributed to the increase in the consolidated trust account. Meanwhile, Chow explained that the Penang State Finance Department has taken the initiative to identify new sources of income for this year through two series of workshops to strengthen the financial position. 'The two workshops are the Workshop on Reviewing Rates, Revenue Collection Procedures and Identifying Arrears and Reductions in Penang State Revenue on Aug 2-4, 2024 and the Workshop on Direction and Revenue Improvement of Administrations and Agencies under the state government on Jan 15-18, 2025. 'The results of the two workshops have produced 24 strategies to increase or stabilise revenue. Nine strategies are currently being implemented this year,' he said.
