YTL Power Clarifies 1BestariNet Project Secured Via Open Tender


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.

“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 its 60-percent-owned subsidiary, YTL Communications Sdn Bhd, will continue to fully cooperate with the Malaysian Anti-Corruption Commission (MACC), the agency conducting the investigation, on this matter.

Source: BERNAMA News Agency

  • malaysiang

    Related Posts

    FGV Holdings To Loan RM260 Mln To Subsidiary For Capital Expenditure

    KUALA LUMPUR, FGV Holdings Bhd (FGVH) has entered into a loan agreement with its 72 per cent owned subsidiary, FGV Palm Industries Sdn Bhd (FGVPI), to provide RM260 million for financing FGVPI’s capital expenditure requirements.

    FGVPI is a private li…

    US Tariffs On China To Have Mixed Impact On ASEAN Economies — OCBC

    KUALA LUMPUR, Potential US tariffs of up to 60 per cent on Chinese exports could have a mixed impact on ASEAN economies, creating medium-term growth opportunities for the ASEAN-6 region, which includes Malaysia, said OCBC Global Markets Research.

    Und…