‘Get your facts right’ – says CM over claims that Penang is going bankrupt

CHIEF Minister Chow Kon Yeow has refuted an online chart which has gone viral - depicting a comparison between Johor and Penang, with the latter alleged to be going bankrupt.

He urged those responsible to check the facts, as contrary to what was reported, Penang's financial strength is growing and now slowing.

"Please check the current (financial) status of Penang. That is my reply," said Chow in a firm rebuke towards the data listed in the chart, which went viral just as Johor Mentri Besar Datuk Onn Hafiz Ghazi said he would rather not work with DAP in the state.

Onn leads the Barisan National government in Johor, while Chow, from DAP, has been leading Penang since 2018.

"In 2025. Penang recorded a very encouraging surplus. For this year, although the financial year is not complete, we have already seen the Consolidated Revenue Account grow by more than RM600 million within the first five months.

“This is  a positive indicator for Penang with the state having achieved RM616 million in its revenue stream."

Chow has reaffirmed his commitment to restoring the state’s revenue to RM1 billion in reserves before the end of his tenure.

During the recent state legislative sitting, he stressed that he was determined to rebuild the state’s reserves after carefully reviewing projected revenue performance.

Before he took office in 2918, the reserves were also around RM1 billion, but with the pandemic and the economic standstill, Penang was forced to spend more than its annual income to stimulate growth in the state dubbed the "Silicon Valley of the East."

“I am committed to ensuring that by the time my term ends, I will make every effort to restore the reserve fund to RM1 billion,” he said.

He noted that Penang recorded a highly encouraging budget surplus in 2025, while the state’s financial position has continued to strengthen this year.

Meanwhile, when asked whether the Penang Pakatan Harapan (PH) machinery would assist its counterparts in Johor ahead of the upcoming Johor state election, Chow said discussions were still ongoing, and no final decision had been made.

 “That has yet to be finalised. When everything has been settled, we are certainly ready to assist our comrades in Johor,” said Chow, who is also the Penang PH chairman. - June 8, 2026.