Profiting over RM500 million, PDC to distribute bonuses of up to six months
A total of 396 employees of the Penang Development Corporation (PDC) are set to receive a minimum bonus of one to six months—the highest rate in its history since its establishment in 1969.
Its Chief Executive Officer, Datuk Aziz Bakar, said the bonuses are being awarded following PDC’s record-breaking profit of over RM500 million in 2024, marking the highest achievement for the state government’s development agency.
He stated that the employees involved are expected to receive their bonuses this month, with the amount determined based on individual performance.
“The bonuses will be distributed based on each employee’s performance. Some will receive one or two months’ worth, while the top-performing employees could receive up to five or six months.
“However, only about 10 percent of employees will qualify for the five- or six-month bonus category, as it is strictly based on individual performance, with the final decision depending on PDC’s overall achievements,” he said during a Chinese New Year Open House event yesterday, which was also attended by Chief Minister Chow Kon Yeow.
In a separate development, Aziz announced that the Bakat Baru MMADANI Affordable Housing project received planning approval on February 6, with the process completed in just 36 days—exceeding the previous target of 42 days.
“Since this is the first scheme of its kind in Penang, adjustments had to be made by several technical departments to meet the required guidelines without affecting the project’s eligibility.
“The challenge in securing fast approval was ensuring compliance with all regulations, and we expect the groundbreaking ceremony to take place around March,” he added.
Meanwhile, Chow Kon Yeow said that Prime Minister Datuk Seri Anwar Ibrahim had personally expressed his hope for the PDC joint venture project—through its subsidiary PDC Properties and SkyWorld Development Bhd (SkyWorld)—to be expedited.
“The Prime Minister set this target because he strongly hopes that such projects can be implemented in Penang to provide housing facilities for the people, as well as for anyone who chooses to work and contribute to the state’s development,” he said.
On December 10, the Prime Minister witnessed the signing of the Joint Development Agreement for the Bakat Baru MADANI Affordable Housing project, with a gross development value of RM13 billion in Penang, marking the largest affordable housing project in the nation’s history.
The project, located in Seberang Jaya and Bandar Cassia, Batu Kawan, is expected to provide 37,388 residential units, including 3,700 affordable homes and 33,688 Bakat Baru MADANI homes, priced between RM225,000 and RM420,000.