World · Malaysia Bureau
Penang Chief Minister denies CZC land auction claims near Gurney Drive
Penang Chief Minister Chow Kon Yeow has dismissed reports of a forced asset sale by Consortium Zenith Construction, asserting the firm maintains adequate cash flow to complete Highway Package 2 project works.
LSN Malaysia ·
Chow Kon Yeow said Monday that Consortium Zenith Construction has not filed any application to conduct a re-auction of land near Persiaran Gurney, addressing earlier speculation about the contractor's financial position. The Penang Chief Minister stressed that the construction firm faces no cash flow constraints and remains capable of completing remaining works on the Highway Package 2 project as scheduled. Chow's statement came amid market reports suggesting potential liquidity challenges for the contractor. The assurance is intended to provide confidence to stakeholders monitoring progress on the major infrastructure development. Highway Package 2 is a key component of Penang's ongoing transport infrastructure expansion plans.