YTL Power Clarifies 1BestariNet Project Secured Via Open Tender

KUALA LUMPUR, Oct 30 (Bernama) -- YTL Power International Bhd has clarified that the company was awarded the 1Bestarinet project through an open tender process, brushing off accusations of misconduct.

The electric utility company said the tender was awarded to YTL Power as the most technically compliant and cost-effective bid among 18 bidders, highlighting the company's capabilities and merit.

"We would like to clarify that we have diligently carried out our contractual obligations to the government since the project's inception.

"To the best of our knowledge, we have not breached any contractual terms or violated any laws," it said in a filing to Bursa Malaysia today.

YTL Power said its 60-percent-owned subsidiary, YTL Communications Sdn Bhd, will continue to fully cooperate with the Malaysian Anti-Corruption Commission (MACC), the agency conducting the investigation, on this matter.

-- BERNAMA