Malaysia Stadium Corporation racks up RM13 mil in deficit

KUALA LUMPUR: The Malaysia Stadium Corporation (PSM) accumulated a deficit of RM12.9 million from January till Sept 30 this year, the Dewan Rakyat was told today.

Youth and Sports Minister Syed Saddiq Syed Abdul Rahman said the corporation, which did not receive any special grant from the government, recorded a deficit of RM20 million in 2015, RM26.6 million in 2016 and RM32.7 million in 2017.

He said his ministry had revamped PSM’s board of directors by appointing experienced individuals with potential to generate income for the corporation.

“This is also in line with the intention to make KL Sports City a preferred venue for organising events at the national and international level.”

He was responding to a question from Wong Shu Qi (PH-Kluang) who wanted to know about PSM’s financial position.

Syed Saddiq said his ministry would also take measures to improve KL Sports City’s facilities and its rental system.

Source: FMT