According to Johor Menteri Besar Datuk Seri Mohamed Khaled Nordin, the allegation on the Johor Corporation (JCorp) being unable to repay its debt is untrue, reported Bernama.
“From 2012 onwards, JCorp has ensured that its debt obligations were adhered to and on schedule,” he said during the Johor State Assembly.
“The JCorp’s current debt ratio is said to reach 77% compared to current assets, but it does not take into account the non-current asset which sums up to RM5.8 billion. If the overall asset value is considered, then the debt ratio will become positive,” he added.
He stated that the allegation on JCorp – that it failed to provide good returns to the state government was baseless; and the return to the state government all the while was not just in financial terms, but also other forms of non-cash payments.
“This includes assistance in running and managing clinics and the Waqaf An-Nur Hospital; creating up to 184,000 job opportunities; built 12,758 affordable housing units; assisted in building and renovating six mosques,” said Khaled.
Image: Sourced from Free Malaysia Today
Mangalesri Chandrasekaran, Editor at PropertyGuru, edited this story. To contact her about this or other stories email mangales@propertyguru.com.my
