This article first appeared in The Edge Financial Daily, on July 1, 2016.

GEORGE TOWN: Penang Chief Minister Lim Guan Eng pledged to fight the corruption charges that he faced yesterday, saying that the charges were tantamount to persecution and an attempt to destroy his political career.

Guan Eng, who pledged to work hard with the state government to retain investors’ confidence, said foreign direct investments into the state had increased over the last eight years, and had grown more than 100%, referring to the DAP-led administration that took over the state after the 2008 general election.

“Of course it is a new challenge after charges were found against me but I think investors will be able to differentiate between what is a political attack and if there was real corruption,” he told a packed press conference after posting a RM1 million bail for the two corruption charges he faces.

Guan Eng had pleaded not guilty to two corruption charges over the conversion of an agricultural zone to a residential zone as well as the purchase of a plot of land and bungalow at below market price.

Bernama reported that Guan Eng will continue to serve as the chief minister for the time being and the state government administration would function as usual. 

Guan Eng said a party meeting to be held soon would decide on the need to appoint an acting chief minister pending the mention of his case on Sept 22.

DAP acting chairman Tan Kok Wai said the party was confident and had trust and faith in Lim to lead Penang during this challenge.

Penang state secretary Datuk Seri Farizan Darus, when contacted, said the state government would meet soon to discuss the developments.