PKNS denies loss, debt claims as inaccurate and misleading

SHAH ALAM (Aug 11): The Selangor State Development Corporation (PKNS) on Monday denied claims that it had incurred losses totalling RM103.69 million and accumulated debts of RM6.1 billion.

In a statement, PKNS said allegations portraying the corporation as being in serious financial difficulty were inaccurate and misleading.

“It also does not reflect PKNS’ overall financial position.

“An independent assessment by RAM Ratings confirmed that PKNS remains in a strong and stable financial position. RAM Ratings continues to maintain its AA1/stable/P1 rating on PKNS,” the corporation said.

PKNS said citing the loss and debt figures separately without explaining the corporation’s financing structure and overall financial position, created a misleading perception that did not reflect the actual facts and circumstances.  

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