Failure to complete a land-ownership agreement between the Langkawi Development Authority (Lada) and INR Sdn Bhd for the St Regis hotel on the island resulted in a loss of RM3.19 million in uncollected land-lease payments.
The A-G’s Report 2022 (Volume 1) released recently had found Lada’s performance unsatisfactory, including its failure to reach its targeted revenue in addition to weaknesses in the management of land leases.
Parliament’s Public Accounts Committee (PAC) has summoned the Finance Ministry to provide testimony on issues uncovered by the Auditor-General’s (AG) Report 2022 (Volume 1) regarding the Langkawi Development Authority (Lada).
The Langkawi Development Authority's failure to collect land lease revenue for two projects, namely the development of the St Regis Hotel amounting to RM3.19 million since 2018 and the land lease for the Tok Senik village resort project amounting to RM8.3 million since 2003, were among its highlights for poor management.
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