SHAH ALAM, Aug 13 – The physical progress of the Shah Alam Sports Complex project has reached 10.4 per cent, slightly below the scheduled 10.73 per cent, but the project remains on track for completion in 2029, said Menteri Besar Dato’ Seri Amirudin Shari.
The 0.3 percentage point difference represented only a slight delay of around four to five days.
“The shortfall is only around 0.3 per cent, less than four to five days from the scheduled timeline. So, according to the schedule, it can still be completed and is still on track,” he said during his winding-up speech on the Second Selangor Plan (RS2) at the Selangor State Legislative Assembly sitting today.
Amirudin added that the state government is still exploring several options to finance payments related to the project, including land arrangements, unlocking existing land and asset potential, commercial and hotel developments, as well as loans if necessary.
"One of the key options involved unlocking the potential of a 2,500-acre area in Sepang through an agreement between Menteri Besar Selangor (Incorporation) or MBI and Sime Darby, which could be developed into industrial areas," he said.
This arrangement will not simply involve a land swap, but could instead involve the value generated from industrial development carried out jointly with the private sector.
“What is being used is the value of the project that will be developed for an industrial area, in line with the development of industrial areas in that location,” Amirudin said.
On Kumpulan Perangsang Selangor (KPS), the Menteri Besar said that the investment holding company must sharpen its focus by concentrating on higher-value projects and sectors.
"Its diverse portfolio had contributed to what the market refers to as a ‘conglomerate discount’, where investors may not fully recognise the value and potential of its individual assets.
"The state was looking at ways to unlock KPS’ potential, including restructuring or separating certain assets to provide greater focus and improve their value," he said.
Amirudin noted that KPS will require stronger investment and project development teams to identify opportunities and unlock the potential of its assets and investments.
On Friday (August 7), he announced RS-2 as the direction for Selangor’s development from 2026 to 2030, encompassing six main missions involving 25 areas and 98 initiatives.
The plan involves a total allocation of RM33.31 billion, to be spent equitably so that the benefits of development are enjoyed by the people, without relying solely on state government allocations.
