Latest news with #RM203
Yahoo
20-05-2025
- Business
- Yahoo
Penang posts RM65m Q1 surplus for 2025 amid new revenue push
GEORGE TOWN, May 19 — The Penang state government recorded a surplus of RM65.3 million for the first quarter ending March 31, 2025, attributed to new revenue streams and expenditure cuts, the state legislative assembly was told today. Penang Chief Minister Chow Kon Yeow announced that the state registered revenue totalling RM268,463,025.36 against an expenditure of RM203,189,122.16 as at March 31. 'This resulted in a surplus of RM65,273,903.20 for the state's finances as at March 31, 2025,' he said in reply to a question from Goh Choon Aik (PKR-Bukit Tambun). Chow attributed this positive outcome to several initiatives undertaken by the state finance department to identify new revenue streams for 2025. He detailed that as at March 31, 2025, the state's Consolidated Fund stood at RM1.535 billion, comprising a Consolidated Revenue Account of RM199.22 million and a Consolidated Trust Account of RM1.33578 billion. Providing context from the previous year, Chow said the state's unaudited financial statement for the year ending 2024 showed the Consolidated Fund at RM1.38474 billion, compared to RM1.46604 billion in 2023. This comprised a Consolidated Revenue Account of RM155.94 million and a Consolidated Trust Account of RM1.22880 billion. For 2024, the Consolidated Revenue Account decreased by RM174.09 million compared to 2023, while the Consolidated Trust Account increased by RM92.79 million, Chow noted. 'The state government concluded the 2024 financial year with a deficit totalling RM174.09 million, which is lower compared to the 2023 deficit of RM358.8 million,' he stated. Chow explained that while revenue collected in 2024 reached RM810.46 million, the deficit arose from operating expenditure of RM719.55 million and transfers to the Development Fund totalling RM265 million. 'The state received an advance of RM100 million from the federal government to cover cash flow, which, among other things, contributed to the increase in the Consolidated Trust Account,' he added. Responding to an additional question on strategies to increase revenue, Chow outlined nine approaches. These include selling more state land, collecting an estimated RM6 million in quit rent arrears, and reviewing land title conversion processes. Chow added that the state is also considering a review of liquor licence fees, entertainment duty, and hotel room fees. 'We are also looking at reducing our expenditure, but it keeps increasing each year due to salary realignments, which impacts emoluments,' he said, also noting that expenditure for the i-Sejahtera social welfare aid programme has risen as more people qualify. Chow clarified that billions in foreign investments do not directly translate into state revenue, except through land sales. 'The benefits from investments manifest as job opportunities and a trickle-down effect for local suppliers,' he explained, adding that investors and suppliers pay taxes directly to the federal government. 'These are our limitations; we do not have natural resources to generate more state revenue,' he said. Regarding the RM100 million advance from the federal government, Chow said the state applied for it as a standby fund in case of a deficit. 'The projected deficit of more than RM500 million (for 2024) did not materialise, as we managed to increase our revenue and lower the deficit to about RM100 million,' he said, referencing the RM1.047 billion budget for 2024 tabled in November 2023. He confirmed the RM100 million fund remains available, but must eventually be returned to the federal government.
The Star
15-05-2025
- The Star
Negri Sembilan Domestic Trade Ministry seizes over 73,000 litres of diesel in separate ops
SEREMBAN: The Domestic Trade and Cost of Living Ministry of Negeri Sembilan seized a total of 73,460 litres of diesel worth RM203,484.20 through two separate operations - Ops Tiris and Ops Jeriji - in Bukit Pelandok and Kuala Sawah on Wednesday (May 14). Its director, Muhammad Zahir Mazlan said the 9pm operations, carried out in collaboration with the Marine Police Force (Region Two Johor), also led to the seizure of four lorries and equipment, bringing the total value of seizures to RM334,461. "Three men, in their 30s and 50s, were also detained to assist in the investigation," he said in a statement on Thursday (May 15). The case is being investigated under Section 21 of the Control of Supplies Act 1961 and Regulation 9(1) of the Control of Supplies Regulations 1974. – Bernama
Malaysian Reserve
03-05-2025
- Business
- Malaysian Reserve
KPKT channels over RM 203m for development, upgrading projects in Pahang
THE Ministry of Housing and Local Government (KPKT) has allocated over RM203 million for various development and upgrading projects in Pahang this year. Minister Nga Kor Ming (picture) said part of the allocation was channelled through Syarikat Perumahan Negara Berhad (SPNB) for the construction of houses under the Rumah Mesra Rakyat (RMR) programme, with a total of 782 units approved for construction this year. 'This RMR programme was established to assist households earning below RM5,000 who either do not own a home or live in dilapidated houses, but have land to build a proper and comfortable home,' he told a press conference after handing over house keys of the RMR and the Bina Baharu Rumah di Bandar programmes at Kampung Cempaka here today. Nga said the allocation also covers the construction of eight housing projects under the People's Residency Programme (PRR) worth RM61.73 million, which will be implemented through the Housing Planning Division of KPKT. He said PRR homes, designed to be integrated, conducive, and liveable with commercial-grade quality, will be developed in Kuantan, Jerantut, Bentong, Temerloh, Maran, Inderapura, and Bera. Nga said the projects also include the construction of a business centre in Cameron Highlands, the development of Pekan Sentral in Pekan, and slope maintenance works, for which RM21.13 million has been allocated. He said a further RM23.61 million has been allocated for solid waste management projects to be carried out by the National Solid Waste Management Department (JPSPN), in Kuantan, Lipis, Maran, Bentong, Cameron Highlands, Temerloh as well as Pulau Tioman. 'These projects are implemented to ensure the provision of a sustainable and efficient solid waste management system, in order to safeguard public health and preserve environmental and natural resources,' he said. Earlier, through the KPKT Sentuhan Kasih programme here, Nga inspected the upgrading project of the Pasar Besar Awam Kuantan as well as the public facilities at Taman Tasik Lestari in Teluk Cempedak. — BERNAMA
New Straits Times
03-05-2025
- Business
- New Straits Times
Pahang rolls out RM203mil for housing, fire stations and infrastructure
KUANTAN: The construction of six fire stations, seven solid waste management projects and eight People's Residential Programme (PRR) housing projects are among the slew of initiatives worth some RM203 million carried out across Pahang this year. Housing and Local Government Minister Nga Kor Ming said the planned public facility infrastructure development and upgrading projects will be executed in Pahang under the supervision of the relevant departments and agencies under the ministry. He said RM7.3 million has been set aside for the construction of the six fire stations including in Sungai Lembing, Goh Tong Jaya (Genting Highlands), Pulau Tioman(Rompin) and Bentong. "The solid waste management projects will be carried out by the National Solid Waste Management Department in Kuantan, Lipis, Maran, Bentong, Cameron Highlands, Temerloh, and Pulau Tioman with a cost of RM23 million. "Some RM21 million has been set aside for four development projects under the jurisdiction of the local authorities including the construction of a business centre in Cameron Highlands, developing Pekan Sentral in Pekan, and slope maintenance works. T "The project will be monitored by the local government department under the ministry along with the local authorities in Pahang," he told reporters when met at the ministry's Sentuhan Kasih programme at Kampung Cempaka here today. Nga had earlier handed over the house keys to the Rumah Mesra Rakyat (RMR) owners and mock cheques for the development and planning allocations in Pahang. Meanwhile, he said eight PRR housing projects—designed to offer integrated, commercially viable and conducive environments—will be built in Kuantan, Jerantut, Bentong, Temerloh, Maran, Inderapura and Bera, costing RM61 million. Nga said 782 Rumah Mesra Rakyat (RMR) units are being built in Pahang this year by Syarikat Perumahan Negara Bhd at a cost of RM63.45 million, with 472 units completed so far. "The RMR scheme was introduced to help households earning below RM5,000 a month who either have no home or are living in dilapidated conditions, but own land suitable for building. "Each unit is given a RM20,000 construction subsidy, borne by the government," he said. He said that to ensure all the planned projects are carried out according to schedule, the ministry will work closely with the Pahang government through the local authorities. "Some of the projects have already started and the ministry's key performance indicator is to complete them by the end of this year except for PRR. PRR will have to go through the tender process and will need time to complete," he said. Also present was Pahang Local Government, Housing, Environment and Green Technology Committee chairman Datuk Mohammad Fakhruddin Mohd Ariff.
