Perbadanan Stadium Malaysia in the red since 2015

KUALA LUMPUR: Perbadanan Stadium Malaysia (PSM) accumulated a deficit of RM12.9 million from January till Sept 30 this year, the Dewan Rakyat was told today.
Youth and Sports Minister Syed Saddiq Syed Abdul Rahman said the corporation which did not receive any special grant from the government recorded a deficit of RM20 million in 2015, RM26.6 million (2016) and RM32.7 million (2017).
He said his ministry had revamped PSM's Board of Directors by appointing experienced individuals with the potential to generate income for the corporation.
"This is in line with the intention to make KL Sports City a preferred venue for organising events at the national and international level," he said.
He was responding to a question from Wong Shu Qi (PH-Kluang) who wanted to know about PSM's financial position.
Syed Saddiq added that his ministry would also take measures to improve KL Sports City's facilities and it's rental system including reviewing the company's panel system that was implemented previously. — Bernama