Selangor opposition regrets Yayasan Selangor's sale of assets

SHAH ALAM, July 14 -- The Opposition in Selangor has objected to the state government's decision to sell 77 Yayasan Selangor assets involving various types of commercial buildings and housing units worth more than RM45 million.

Selangor State Assembly Opposition chief Rizam Ismail said the move to sell the assets, said to be for the purpose of raising liquidity, was unacceptable and hasty.

“Recently, the state government through advertisements invited and issued open offers to any company, individuals and real estate agents who are interested in buying these assets of Yayasan Selangor.

"The 77 assets comprise commercial buildings and house units in several locations throughout Selangor with an offer value of between RM191,114 and RM3.515 million each involving a total of about RM45.137 million," he told reporters at the State Legislative Assembly lobby here today.

Among the assets are University Tower Condominium, Petaling Jaya; Kedai Pasar Maden, Rawang and semi-D type residence in Taman Yayasan, Kuala Selangor.

Rizam said the decision to sell the assets should have been made rationally with reasonable justification.

“As a former student under the Yayasan Selangor, I object to this sale because some of these assets have sentimental value, not only to me but also to other former Yayasan Selangor students.

"We are saddened and disappointed because no concrete and sustainable effort has been shown by Yayasan Selangor to generate income for the company but instead it has chosen to take the easy way out by selling existing assets," he added.

-- BERNAMA