KUALA LUMPUR – YTL Power International Bhd has clarified that the company was awarded the 1Bestarinet project through an open tender process, brushing off accusations of misconduct.
The electric utility company said the tender was awarded to YTL Power as the most technically compliant and cost-effective bid among 18 bidders, highlighting the company’s capabilities and merit.
It said the accusations of misconduct, which led to the investigations carried out by the Malaysian Anti-Corruption Commission (MACC) are extremely serious and harmful to the company’s reputation.
“We would like to clarify that we have diligently carried out our contractual obligations to the government since the project’s inception.
“To the best of our knowledge, we have not breached any contractual terms or violated any laws,” it said in a filing to Bursa Malaysia today.
YTL Power said despite its commitment to the process and co-operation with the authorities, the company has experienced considerable negative public perception arising from the accusations of misconduct on its part by irresponsible parties.
“This situation is unjust, particularly as it hampers our ability to defend ourselves against the prevailing narrative.
“To protect our reputation and legal standing, we are currently seeking legal advice regarding potential steps against those spreading these malicious accusations,” it said.
YTL Power said its 60-per cent owned subsidiary, YTL Communications Sdn Bhd would continue to provide full cooperation to MACC on this matter.
The company added it remain committed to transparency throughout this process and is confident that the matter will be satisfactorily resolved soon. – October 30, 2024