The deal’s critics have claimed that the land was sold below the market rate.
Penang chief minister Chow Kon Yeow was elusive when asked if the state agency’s board of directors meeting would review or suspend the land deal.
“The state executive committee has taken note of the explanation given by PDC, and the matter will be raised to PDC for a decision ,” he said at a press conference at Bangunan UOB here. He repeated the answer when asked again if the PDC would review or suspend the deal during the meeting. However, Ramasamy, who was part of the sub-committee, questioned how Umech Construction sold the land to Umech Land Sdn Bhd, in which property developer Sunway Group held a 70% stake.
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