Kuala lumpur: The Selangor State Development Corporation (PKNS) today denied claims that it had incurred losses totalling RM103.69 million and accumulated debts of RM6.1 billion. In a statement today, PKNS said allegations portraying the corporation as being in serious financial difficulty were inaccurate and misleading.

According to BERNAMA News Agency, PKNS emphasized that these claims do not reflect its overall financial position. The corporation highlighted that an independent assessment by RAM Ratings confirmed PKNS remains in a strong and stable financial position. RAM Ratings continues to maintain its AA1/Stable/P1 rating on PKNS.

PKNS stated that citing the loss and debt figures separately without explaining the corporation's financing structure and overall financial position created a misleading perception that did not reflect the actual facts and circumstances.