Who is making these RM103.69m loss and RM6.1b debt claims?

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Allegations of RM103.69 Million in Losses and RM6.1 Billion in Debts Denied by PKNS

The Selangor State Development Corporation (PKNS) has refuted claims alleging RM103.69 million in losses and RM6.1 billion in debts. PKNS stated that these assertions are inaccurate and misleading, failing to represent the corporation's overall financial standing.
PKNS Statement on Financial Position

PKNS issued a statement to address the financial allegations, asserting they do not accurately reflect the corporation's true financial situation. The corporation emphasised that presenting isolated figures for losses and debts without detailing its financing structure or comprehensive financial standing creates a misleading perception.
Independent Financial Assessment

To support its position, PKNS highlighted an independent assessment conducted by RAM Ratings. This assessment confirmed that PKNS maintains a strong and stable financial position. RAM Ratings has continued to uphold its AA1/Stable/P1 rating on PKNS, indicating confidence in its financial health.
Misleading Perception from Selective Data

The corporation argued that citing specific loss and debt figures in isolation, without providing context on its financing mechanisms and overall financial health, distorts the reality of its circumstances. This selective presentation of data does not align with the actual facts.

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Who is making these RM103.69m loss and RM6.1b debt claims?

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