The land which belonged to the Penang Development Corporation was sold to a private company before being transferred to a developer.
Chow Kon Yeow said the Penang Development Corporation initially wanted to enter into a joint venture to develop an industrial park on the parcel of land but no company voiced interest in the project.
The parcel of land in Byram was originally owned by the Penang Development Corporation but was sold to UMECH Construction Sdn Bhd . He said UMECH later expressed interest in developing the land when the idea was floated by a Penang delegation at the 2020 Dubai Expo. “At Dubai, UMECH expressed their interest to invest and had held discussions with a funder. As a result of the discussions, the company managed to convince PDC that it would be financially supported by a funder from Dubai,” he said.However, the Penang Chinese Chambers of Commerce has since alleged that a property developer has taken control of UMECH and is now offering to lease out parcels of the land at high rates.
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