SHAH ALAM, 30 Nov: Chief Minister, Tan Sri Abdul Khalid stressed that the Talam Corporation debt proceeds, valued at RM392 million will be channelled to benefit the welfare of the people.
During the winding up speech at the Selangor State Assembly (DNS), Abdul Khalid said that the land purchases of this GLC is capable of delivering high-value returns through residential and commercial development projects to be planned in the future.
“The results of the collection will save these lands from being confiscated and sold by the bank.
“In fact, we will use these assets to recover the Talam debts to GLCs through Menteri Besar Incorporated (MBI),” he said.
He explained that to make sure the debt is guaranteed to be collected, a comprehensive settlement agreement will be signed with Talam.
So far, the overall Gross Development Value (GDV) is worth RM4,146 million for lands purchased by Permodalan Negeri Selangor Berhad (PNSB) and the Selangor State Development Corporation (PKNS).
The lands are at Bukit Beruntung (PKNS) worth RM133 million, Bukit Beruntung (PNSB) worth RM2,378 million and Bestari Jaya (PNSB) worth RM1,635 million.
He further explained that the latest assessment on the land at Bukit Beruntung by the Selangor Land and Mines Office on the 26th of November found that the land is estimated to be worth RM475 million based on mixed land status.
This situation altogether reflects the State Government’s success in producing economic and social value through the Talam debt amortisation process.