GEORGE TOWN: The Penang government has RM1.824 billion in fixed deposits placed with 14 financial institutions, while its shareholdings in five listed companies have a combined market value of RM501.39 million.
Chief Minister Chow Kon Yeow said the state financial department had placed RM1,824,100,000 from the general fund in fixed deposits as at October 31.
“These fixed-deposit investments are made in accordance with Treasury Instruction (AP) 28, which requires investments to prioritise the protection of capital and to be made only in permitted instruments,” he said during his winding-up speech at the state assembly today.
The state’s shareholdings comprise Petronas Dagangan Bhd, Tenaga Nasional Bhd, Telekom Malaysia Bhd, Axiata Bhd and PBA Holdings Bhd.
