The financial position of state owned PKNS is strong and is able to finance future projects, said Menteri Besar Dato’ Seri Amirudin Shari who has to defend the firm after speculations arose over its weak financial condition.
According to the MB, the State Government’s subsidiary has RM804 million in cash as of June 2023. Looking at the report from year to year from 2019, 2020 during the Covid-19 pandemic, 2021, 2022..the MB said PKNS has the capacity to increase its income, he blamed poor management prior which was during 2015, 2016, 2017 where the firm was in a bigger financial deficit where the MB said had to be manged since taking over.
PKNS has been disposing some of its assets including the building in PJ to MRCB, when asked the MB said the sale of underperforming assets and some land in Kota Damansara was a move to avoid debt and greater burdens in addition to focusing on competitive projects.
