Yayasan Selangor said its decision to put several assets for sale is part of its business strategy as it does not get grants from the Selangor government and must generate its own revenue to fund programmes.
It added that Selangor opposition leader Rizam Ismail's (photo, above) statement about the foundation's move has tarnished its reputation and is mulling legal action if he does not retract them.
"The aforementioned sale of assets is part of Yayasan Selangor's business strategy as part of its strategic plan to generate the best returns to channel them for Yayasan Selangor's education program," it said in a statement.
Yayasan Selangor said the plan includes reorganising its assets.
"Yayasan Selangor has taken a good and profitable move where less strategic assets with high maintenance cost and low returns are reviewed.
"The disposal of the assets is the best measure in the interest of Yayasan Selangor's financial sustainability and strength," it said.
The foundation, which is registered as a company owned by the Selangor government, said the assets were valued by a registered valuer.
The sale of the assets have gone through its board of trustees and will be through an open tender process, it added.
"Yayasan Selangor always prioritises the best return, and the sale process is transparent," it said.
It also defended criticisms against the appointment of its chief executive officer Eddie Adrianto Ahmad Khodzali, maintaining that the appointment followed due procedure.
"Rizam's accusations directly affect the reputation and good name of Yayasan Selangor.
"Yayasan Selangor strongly objects to the accusations and asks Rizam to retract the statement and apologise to Yayasan Selangor.
"If he fails to do so soon, Yayasan Selangor will take appropriate action, including legal action to preserve its good name, reputation and image," it said.
Yesterday, Rizam questioned the decision to put up 77 properties under Yayasan Selangor for sale.
“These properties throughout Selangor have been tendered with the value between RM191,114 to RM3.515 million involving a total of RM45,137,043.92.”
“Selling state-owned assets through government-linked companies (GLCs) or agencies is not a new thing under the Pakatan Harapan state government in Selangor, instead it is a routine practice and has become more and more serious recently," he had said. - Mkini
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