PETALING JAYA: Penang last year improved its financial position over 2009, according to the Auditor-General’s latest report.“The audit analysis found that consolidated funds of 2010 had improved compared to previous years and is at the highest level compared to the previous five years,” says the report.
It says the revenue collected increased by 9.1% from RM376.51million in 2009 to RM410.70 million in 2010. Consolidated revenue increased by 6.2%.
The state debt to the federal government as of 2010 is RM687.79 million, which is a 0.6% increase from the 2009 debt.
According to the report, this was due to loans from the federal government to fund the widening of the Mengkuang dam to improve water supply and the building of the Batu Kawan indoor arcade and seafood centre.
The state’s assets, consisting of cash and investments, have increased to RM1.13 billion from RM1.10 billion
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