Pulau Jerejak issue: Lim asks Teng to furnish proof on potential RM220m profit

GEORGE TOWN: Penang Chief Minister Lim Guan Eng (pix) today called on state Gerakan chairman Teng Chang Yeow to furnish proof that the DAP-led state government stood to gain RM220 million in profit if it did not cancel an agreement with Ideal Properties on development of Pulau Jerejak.
Lim rubbished the claim by Teng saying that it was dangerous slander.
"We want Teng to show proof that the joint venture agreement would have assured RM220 million in profit which was rejected by the state government, rejected by the Penang Development Corporation," he told a press conference here.
He also slammed Teng for questioning the integrity of PDC general manager Datuk Rosli Jaafar, who was also present (at the press conference).
Yesterday, Teng was reported as saying that in 2013, the DAP-led Penang government had cancelled the deal with Ideal Properties and that according to sources in PDC, if it had gone through, the state government stood to gain RM220 million.
Teng was alleged to have said that instead of approving the joint venture, the state government sold its 49 per cent shareholding in it this year at a price of RM156 million.
Four hotels, 1,200 residential units, a marina, a theme park and a 11.5km cycling track are reported will be built on the former penal island to boost the state's tourism industry. — Bernama