Penang CM confirms his investment advisor resigns

Chief Minister Chow Kon Yeow confirmed that Lee Kah Choon has resigned as the special investment advisor to the Penang chief minister on Oct 2.

Chow said he received the letter of resignation with a one-month notice and Lee also tendered his resignation as board member of Invest Penang.

According to him, Lee has expressed his readiness to relinquish any and all positions held by him, including being a board member of Invest Penang, Penang Development Corporation (PDC), and Penang Hill Corporation.

“On behalf of the Penang government, I wish to record our greatest appreciation to Lee for his significant contribution to the development of the state of Penang,” Chow said in a statement yesterday.

He said on Aug 14, Lee sent him a congratulatory message on his swearing-in as the chief minister for a second term.

“On Sept 26, I informed Lee Kah Choon that he has been replaced as director of PDC following a new appointment to the said board and he replied he understood the situation,” Chow said.

He added that Lee shared with him even before the general election that he wished to spend time focusing on private interests.

Penang Chief Minister Chow Kon Yeow

Byram Industrial Park project

Meanwhile, on the award of the Byram Industrial Park project to UMECH Construction Sdn Bhd, Chow said PDC conducted due diligence based on decisions made during a meeting held by a special committee on Nov 28 last year.

He said PDC conducted official investigations into the company’s registration, company profile, and experience.

From there, UMECH was required to bring forward support documents from financial institutions as proof of the company’s financial background.

“The board of directors held meetings to discuss and obtain the latest information on the project on Aug 19, Oct 28, and Dec 8, 2022, as well as Feb 9 and April 11, 2023,” he said.

Chow explained that on Oct 28, the PDC decided that UMECH had to make a detailed presentation regarding its development concept to board members during a special meeting on Nov 28.

“Therefore, a presentation session was scheduled on Nov 28 that was chaired by me and attended by then-deputy chief minister I Ahmad Zakiyuddin Abdul Rahman, then-deputy chief minister II P Ramasamy, Abdul Halim Hussain, and Lee Kah Choon,” he said.

Earlier today, Lee and former Penang deputy chief minister II P Ramasamy alleged that Chow’s statement on the Nov 28 meeting was misleading, unfair, and caused harm to their professional reputations.

- Bernama