The Selangor state government will present the financial position of the state government-linked companies (GLCs) during the Selangor State Assembly sitting towards the end of March.

Menteri Besar Abdul Khalid Ibrahim said he would explain the actual financial position of the GLCs for the current year and the way the accounts were prepared to the state assemblymen at the sitting.

NONE "I will expose the state GLC accounts (in stages) beginning with the State Assembly sitting in March. The standard (of the financial report) is similar to the standard made at the PNB (Permodalan Nasional Berhad) previously," he said when approached by reporters after opening the Karate Championship in Shah Alam today.

Abdul Khalid said this when asked to comment on the media report today which quoted a statement by Selangor Umno information head, Abdul Shukor Idrus who called on the menteri besar to disclose to the people the actual revenue, expenditures and credit liability of the state GLCs currently.

Some financial reports not updated for 5 years

He said this was necessary to look at the flow and financial position as well as the value of investment growth achieved since the opposition pact took over the Selangor state administration in March 2008.

Abdul Khalid said that according to procedure, the Selangor state GLC financial statements must be ready and audited within six months after the year ended Dec 31.

He claimed that there were state GLC financial reports that were not updated for five years during the previous administration.

- Bernama