by BERNAMA/ pic by BERNAMA

YAYASAN Selangor assets were sold because they were not economical, the state legislative assembly was told yesterday.

Selangor Mentri Besar Datuk Seri Amirudin Shari (picture) said the sale of the foundation’s assets was also a restructuring measure, including to reduce the burden of rental and study debt amounting to RM34 million.

“The units sold are largely for the restructuring of Yayasan Selangor and have nothing to do with the impact of Covid-19.”

Opposition leader Rizam Ismail had objected to the state government’s decision to sell 77 Yayasan Selangor assets involving various types of commercial buildings and housing units worth more than RM45 million.

Amirudin said the sale was conducted after the cost of administration and management reached RM2.9 million compared to rental collection of only RM123,000.