Chief Minister Chow Kon Yeow said Prime Minister Tun Dr Mahathir Mohamad floated this idea in a reply to the state when it requested Federal funding for the project.
"However, we will still request funding for the project from the federal government under the 12th Malaysia Plan," said Chow in reply to Jason Ong at the state assembly on whether the state would go ahead with the Penang South Reclamation since they had requested the RM10bil from the federal government.
Source: News Formal (newsformal.com)
Bond is I-Owed-You instrument!
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