GEORGE TOWN, June 8 — Penang Chief Minister Chow Kon Yeow has dismissed claims that the state is facing financial difficulties, revealing that Penang’s consolidated revenue reserves have rebounded to RM616 million.
Chow described allegations that Penang was heading towards bankruptcy as inaccurate and politically motivated. He said the state recorded a strong surplus in 2025.
And that reserve levels have continued to improve in 2026. Reaffirming his commitment to strengthening the state’s finances.
Chow said he aims to restore Penang’s consolidated reserves to RM1 billion by the end of his term. He also attributed recent comparisons between Penang and Johor to the ongoing political climate ahead of state elections.
