Each member may get windfall

Penang Turf Club News

Each member may get windfall
Land SalePTC EGM
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ROTTERDAM, Netherlands (Reuters) -Netherlands' delight with an emphatic 4-0 win over Iceland in their last warm-up match on Monday before heading to the Euros turned to despair when it was announced that playmaker Frenkie de Jong would not be going to the tournament in Germany.

GEORGE TOWN: The plan to sell Penang Turf Club ’s land proceeded smoothly as the ordinary members gave a resounding “aye” during the extraordinary general meeting here, with 146 members voting in favour.

With the present market value of commercial land in George Town hovering at around RM700 per square feet, the site is expected to fetch around RM6bil upon conversion to commercial status. PTC is the oldest of the three horse-racing clubs in Malaysia, with a membership of around 600. The other two turf clubs still operating horse races are the Selangor Turf Club and the Perak Turf Club.

“We heard that we would receive compensation, said to be at least RM1mil each, for the inconvenience caused. “The club will hold a second special general meeting to confirm the resolutions to dissolve PTC. The dissolution process is expected to take at least one to two years,” he said.

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Land Sale PTC EGM

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