The Kelantan government has denied that it suffered a loss to the tune of RM50 million in the Tok Guru Bazaar buyback.

State Local Government, Tourism and Culture Committee chairperson Takiyuddin Hassan said on the contrary, the state government would rake in profit by selling retail spaces at the complex.

"We don't lose anything, we will provide outlets, which will be jointly developed by Kelantan Menteri Besar Corporation (PMBK) and Sensa Timur Sdn Bhd.

"To reciprocate, the companies will provide us level one and level two of the bazaar worth RM40 million to us.

"The decision to buy back the ground floor of the bazaar at cost of RM23 million was made at a state executive council meeting recently. We will recoup the investment by selling retail spaces," he told reporters here today.

He was commenting on a claim by blogger Syed Azidi Syed Abdul Aziz, or Kickdefella, that the state government made a loss of RM50 million in the bazaar buyback

Menteri Besar Nik Abdul Aziz Nik Mat confirmed yesterday that the state government, through Kelantan Menteri Besar Incorporated, will buy back the bazaar worth RM23 million due to technical problem.

- Bernama