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Saturday, September 24, 2011

Selangor's cash reserves hit historic high

Sulaiman Kamal | 12:34 AM | | | | Best Blogger Tips

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The Selangor state government has managed to increase its cash reserves by some RM200 million in the first six months of this year, bringing the total to RM1.1 billion.
According to Menteri Besar Khalid Ibrahim, the amount is the highest achieved by the state over the past 28 years.

Since taking over from Barisan Nasional, Khalid said the state has registered a significant increase in investment amounting to RM35 billion between 2008 and June 2011.
“This means the present Selangor state government has not only succeeded in increasing the revenue but also in implementing effective and efficient financial management.
"From the onset, I had misgivings in shouldering this responsibility given by the majority of the people in Selangor who wanted change, in the sense that the state’s profits can be distributed and enjoyed in a fair manner to the multi-cultural citizens of this state,” Khalid told during a royal dinner last night attended by the Agong and Sltan of Selangor, held in conjunction with the First Couple's official visit to the state.
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Khalid said the state's citizen-centric economic policy called Merakyatkan Ekonomi Selangor (MES) had carried out various welfare programmes so that people could benefit from the state’s development.

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