PKNS denies claims on RM103.7mil losses, RM6.1bil debt

 The Selangor State Development Corporation says allegations of serious financial difficulty are inaccurate and misleading.

PKNS said an independent assessment by RAM Ratings confirmed that it remains in a strong and stable financial position. (Facebook pic)

SHAH ALAM:

The Selangor State Development Corporation (PKNS) today denied claims that it had incurred losses totalling RM103.69 million and accumulated RM6.1 billion in debt.

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

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

“An independent assessment by RAM Ratings confirmed that PKNS remains in a strong and stable financial position,” it said in a statement.

PKNS said RAM Ratings continues to maintain its AA1/Stable/P1 rating on the corporation. - FMT