KANGAR, May 20 — The Perlis State Economic Development Corporation (PKENPs)’s decision to sell commercial property at the Pauh Industrial Land at a price below cost was made after taking into account its long-term benefits, said Mentri Besar Datuk Seri Azlan Man.
He said the decision was also made after considering that investors were not interested in buying the property at the price rates offered by PKENPs and had also asked for price reduction.
“The ROI (Return of investment) of government investments cannot be measured based on dollars and cents but instead should be viewed in a broader context, including creating employment opportunities for the people and its long-term impact on economy,” he told reporters after attending the 14th Perlis state legislative assembly sitting here today.
He was commenting on the 2018 Auditor-General’s Report Series 2, which stated that the commercial property management of PKENPs was not handled efficiently in 2018 which resulted in losses of RM10.91 million.
Azlan said the state government hoped that the move could attract more investments not only to the Pauh Industrial Land but also to the state as a whole.
“We may have incurred losses in the short term period but we will gain benefits in the long run when more investors come to Perlis,” he said. — Bernama