By Siti Rohaizah Zainal
SHAH ALAM, May 19 — The state government is aiming for the Selangor State Development Corporation (PKNS) to achieve over RM300 million in profits this year, said Menteri Besar Dato’ Seri Amirudin Shari.
He said the estimation was made after the restructuring of investment and corporate elements by the state-owned company, in addition to positive developments in the construction sector.
"In 2020, PKNS recorded RM500 million in losses but last year we recorded over RM40 in profit. This means its business strength still remains. This profit indicates the short-term and long-term plan is working well, with the economic growth this year also better with a more robust financial flow.
"The Covid-19 pandemic resulted in a part of the account position recording negative values in 2020 due to the declining value. But PKNS managed to record profit, itself an indication of its business strength," he said.
Amirudin was speaking at the Jalinan Aidilfitri event organised by PKNS at the Shah Alam Convention Centre earlier today.
He added that the 50-year old organisation must rise up again by reorganising and focusing on current changes.
"PKNS needs to stand up and be confident in itself at its highest and lowest points alongside competitors who are as capable as they are.
"This is the challenge, to remove yourself from the comfort zone and to ensure that PKNS' achievements are not only limited to the housing and construction sector but also endeavouring to explore other opportunities," Amirudin said.
