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PETALING JAYA: Finance Minister Tengku Zafrul Aziz and Ministry of Finance Inc have denied inviting Ranhill Utilities Bhd to conduct a due diligence exercise on Indah Water Konsortium Sdn Bhd (IWK).
The ministry was responding to an announcement by Ranhill that the company had been invited by Prokhas Sdn Bhd, a private company under the Ministry of Finance, to conduct the study.
“Prokhas has never sent invitations to anyone to undertake due diligence at IWK, according to the statement issued by Ranhill,” they said.
Yesterday, in a presentation to Bursa Malaysia, Ranhill announced that he had been invited by the Ministry of Finance to conduct a due diligence exercise on IWK in relation to a proposal to remove his interest in IWK.
The company said it had submitted a proposal on June 26 for the restructuring of IWK, which will imply the interest of the Ministry of Finance that IWK be transferred to Ranhill.
