How does PKNS explain the RM103.69 million loss and RM6.1 billion debt figures?

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PKNS Denies Financial Misrepresentation of RM103.69 Million Loss and RM6.1 Billion Debt Figures

The Selangor State Development Corporation (PKNS) has refuted claims of significant financial distress, asserting that allegations of a RM103.69 million loss and RM6.1 billion in accumulated debt are inaccurate and misleading. PKNS contends that presenting these figures in isolation, without detailing the corporation's financing structure and overall financial standing, creates a distorted perception of its fiscal health. An independent assessment by RAM Ratings has affirmed PKNS's strong and stable financial position, maintaining its AA1/Stable/P1 rating.
Allegations of Financial Difficulty Deemed Inaccurate

PKNS has explicitly stated that the portrayal of the corporation being in serious financial difficulty is not reflective of the actual situation. The corporation asserts that the reported figures, when presented without broader context, do not accurately represent its financial standing. This denial directly addresses the specific claims that have been circulating regarding its financial performance and obligations.
Contextualisation of Figures Essential for Accurate Perception

The corporation argues that citing the RM103.69 million loss and RM6.1 billion debt figures separately is misleading. PKNS maintains that a comprehensive understanding requires an explanation of its financing structure and its overall financial position. Without this context, the isolated figures fail to provide a true picture of PKNS's fiscal operations and stability.
Independent Rating Agency Confirms Strong Financial Standing

Further bolstering its position, PKNS highlighted an independent assessment conducted by RAM Ratings. This evaluation confirmed that PKNS continues to maintain a strong and stable financial position. RAM Ratings' ongoing affirmation of its AA1/Stable/P1 rating serves as a significant endorsement of the corporation's financial robustness and reliability.

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How does PKNS explain the RM103.69 million loss and RM6.1 billion debt figures?

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