YTL Power clarifies 1Bestarinet project secured via open tender

YTL Power International Bhd has clarified that it was awarded the 1Bestarinet project through an open tender process, brushing off accusations of misconduct.

The electric utility company said it was awarded the tender as the company had the most technically compliant and cost-effective bid among 18 bidders.

It said the accusations of misconduct, which led to a probe by the 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 cooperation with the authorities, the company experienced considerable negative public perception arising from accusations of misconduct 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 percent-owned subsidiary, YTL Communications Sdn Bhd, would continue to provide full cooperation to MACC on this matter.

The company added it remains committed to transparency throughout this process and is confident that the matter will be satisfactorily resolved soon.

- Bernama

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