YTL Power mulls action over 1Bestarinet ‘accusations by irresponsible parties’, says ‘committed to transparency’ in MACC probe

KUALA LUMPUR (Oct 30): YTL Power International Bhd (KL:YTLPOWR) is “seeking legal advice regarding potential steps” against unnamed parties that it said are spreading accusations of misconduct by the company in the 1Bestarinet project currently under investigations.

In a statement, YTL Power said its 60%-owned YTL Communications Sdn Bhd, which was involved in the project, will continue to provide full cooperation to the Malaysian Anti-Corruption Commission (MACC) on the investigations.

“We would like to clarify that we have diligently carried out our contractual obligations to the Government of Malaysia since the project’s inception,” it said, referring to the contract won by the group in November 2011 to provide internet access and virtual learning system in up to 10,000 schools.

“To the best of our knowledge, we have not breached any contractual terms, nor violated any laws,” it added.

YTL Communications remains “committed to transparency” throughout the process, it said, adding that it is “confident that the matter will be satisfactorily resolved soon”.

“It is important to note that YTL Communications was awarded the 1Bestarinet project through an open tender process, reflecting our capabilities and merits,” it said.

The company said despite its commitment to the cooperation with the authorities, it has experienced considerable negative public perception arising from the accusations of misconduct on its part 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,” the statement read.

The statement did not name the parties allegedly spreading the accusations.

On Sept 4, YTL Power confirmed that the MACC “requested information from YTL Communications in respect of the 1Bestarinet project”, which the company previously said it had invested RM4 billion for.