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Selangor gains RM 200 million, best financial result in 28 years

In the July 2011 session of the Selangor state assembly sitting, the public was told that the state government’s revenue had increased by RM200 million during the first six months of this year.
To a question by Sekinchan state assemblyman Ng Swee Lim, Menteri Besar Abdul Khalid Ibrahim said that the state’s cash reserve stood at RM918 million at the end of 2010, RM1,100 million at June 30, 2001. “The investment has increased by RM557 million as at June 30, 2011 compared to RM668 million at December 31, 2010. With the two sources combined it will be RM1,760 million compared to RM1,580 million for the same period in 2010,” he said.
“In six months, the state government has managed to increase the state revenue by RM200 million and this is the best financial record over the last 28 years,” he added.
Khalid stressed that the state not only achieved revenue increase but also good financial management which has been Pakatan Rakyat’s battle cry before it wrested the state from Barisan Nasional in March 2008.

Khalid added that more than RM1 billion of the reserves are kept in bank deposits, while around RM 600 million is invested in shares of listed companies. “In view of the fact that the federal government has been reducing its fund allocation for roads and drainage repair in Selangor, the state government will consider using some part of the funds to improve the state’s infrastructure.”

(Adapted from Harakahdaily and SelangorKini)