Chow defends PDC bonuses amid land sale, project delay concerns

Chow defends PDC bonuses amid land sale, project delay concerns

The six-month bonus is the highest in the history of PDC, which was founded in 1969.

Chow Kon Yeow
Penang chief minister Chow Kon Yeow said only 25% of Penang Development Corporation staff received a full six-month bonus.
GEORGE TOWN:
Penang chief minister Chow Kon Yeow has defended the Penang Development Corporation’s (PDC) decision to award bonuses of up to six months’ salary, saying the payouts were based on performance and not influenced by politics or favouritism.

In a written reply to Lim Guan Eng (PH–Air Putih) in the state assembly, Chow said the board of the state-owned corporation approved the bonuses based on PDC’s strong performance last year.

Chow, who chairs the PDC board, said only 25% of PDC staff received the full six-month bonus, while others received a bonus equivalent to five months’ salary after their “excellent results”.

He said the decision was based on several achievements, including a 91% increase in profit from RM276.6 million in 2023 to a record-high RM527.1 million in 2024.

Chow also said that PDC achieved 104% of its revenue target and kept spending at 96% of its budget last year.

In addition to implementing several high-impact investment programmes, Chow said PDC saved RM8.6 million in interest by settling loans early.

Lim yesterday questioned the rationale behind the bonus amounts, citing public concerns over the controversial Batu Kawan land sale and delays in PDC projects.

Chow said those concerns were taken into consideration before the bonuses were approved, adding that PDC had taken steps to address project delays, including by implementing recovery plans.

Earlier this week, state backbenchers questioned the appropriateness of the bonuses, particularly as other agencies did not receive similar rewards and PDC remained under scrutiny over land deals and construction setbacks.

On Feb 9, PDC CEO Aziz Bakar said that 396 staff members would receive bonuses ranging from one to six months based on performance.

The six-month payout is the highest in the history of PDC, which was founded in 1969.

Stay current - Follow FMT on WhatsApp, Google news and Telegram

Subscribe to our newsletter and get news delivered to your mailbox.