SHAH ALAM, 21 May: The Yayasan Selangor building in Bukit Bintang is in the process of being upgraded to prevent it from being abandoned and indemnification.
The state government Chairman of the Select Committee on Agencies, Statutory Bodies and Subsidiary Companies for the Selangor State Assembly (JP-ABAS), Saari Sungib, said that the planning will be presented in the next DNS session.
He said regarding the allocation and upgrading, it depends on whether it uses the ‘Build, Operate and Transfer (BOT) method or alone.
“The committee will hear the briefing from the Yayasan Selangor management. After receiving complete information, we will prepare a proposal to be brought up in the Assembly session.
“We also have to see whether it is suitable or not to be modified or otherwise,” he told Selangor Kini.
Yesterday, Saari together with other committee members visited the building and he also denied that it will be sold.
“It is not rational to be sold. We need to look into long-term profits because if it is sold, it will be a one-off profit.
“We need to think of a way to redevelop it so that the building can continue to be profitable,” he said.
Yayasan Selangor suffered heavy losses of RM15.12 million in three years following the end of the tenancy and vacation of the building in September 2012.
NS
