Penang finances still strong, but some projects delayed amid cost pressures, says chief minister

Penang finances still strong, but some projects delayed amid cost pressures, says chief minister

GEORGE TOWN, April 30 — Penang’s financial position is still healthy so there is no need for a supplementary budget at this time, Chief Minister Chow Kon Yeow said today.He said the state government is currently maintaining a surplus position despite concerns over rising costs affecting project implementation.“If spending increases, that is what becomes worrying, but so far we are still in a surplus position,” he told reporters after officially …

Penang to share diesel cost burden with contractors

Penang chief minister Chow Kon Yeow said the state may delay projects that have yet to be awarded as contractors struggle to bid amid rising costs. GEORGE TOWN: Penang will share the burden of rising diesel costs with contractors, chief minister Chow Kon Yeow said today. He said Penang Development Corporation (PDC) would negotiate with contractors who had submitted claims related to higher prices, and absorb part of the increase to ease pressure…