KUANTAN, Nov 22 (Bernama) -- The new quit rent rate for the Gebeng industrial area here, effective Jan 1, is to replace the old rate imposed for the last 12 years, the Pahang Legislative Assembly was told today.
Pahang Menteri Besar Datuk Seri Wan Rosdy Wan Ismail said the old rate was only 25 sen per square metre, and the new RM5 per square metre rate was still reasonable.
"For example, I refer to a company in Gebeng, which in 2017, recorded a profit of RM4.4 billion. According to the 2007 rate, the company would only have to pay RM189,800.
"When the new rate is applied, the company will have to pay RM3.798 million which is only 0.09 per cent of the value of the company's profit and we believe this amount is still reasonable," he said during winding-up of the debate on the Supply Bill 2020.
He also assured that the new quit rent rate would not burden the people because the quit rent rates for residential and smallholder land were still the same.
The assembly adjourned sine die.