The Penang government stands to suffer financially if it was to re-convert the Penang Turf Club-owned land - earmarked by the previous administration for the RM25 billion Penang Global City Centre (PGCC) project - back to its original ‘recreational’ status.

“Since there could be a tricky court wrangle, the state government is not prepared to take the legal risk and incur huge losses financially as a consequence,” Chief Minister Lim Guan Eng told journalists at his office in Komtar today.