00:00Penang Chief Minister Chao Konyao has dismissed a claim that the state's finances are in trouble,
00:06saying critics should check the latest figures before making comparisons with Johor.
00:11Chao said Penang's reserves have improved, with the state's consolidated revenue account
00:16rising to RM616 million in the first five months of this year.
00:21Chao reiterated that he would try to restore the reserves to RM1 billion by the end of his term,
00:26adding that the state's current financial position was positive.
00:30According to figures from the State Assembly, Penang's reserves grew from RM155.4 million
00:36at the beginning of 2025 to RM199.22 million by April 30,
00:43nearly doubled to RM397.71 million by November 21,
00:48and further increased to RM616 million during the first five months of 2026.
00:55Chao was responding to a claim by Barsan National-linked blogger Lim Sian Si,
00:59who claimed Johor's cash reserves under BN were stable and rising,
01:04while Penang's reserves under DAP were shrinking,
01:06and the state was heading towards bankruptcy.
01:10Tanusha Manogaran, FMT.
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