YTL Power stated late yesterday that its unit, YTL Communications, is providing full cooperation to the anti-graft agency.

“The query is related to a government project to install high-speed internet in Malaysian schools more than a decade ago,” it added.

Shares of YTL Power slid as much as 7.2% at the open of trading today, before paring losses.

The stock was down 5.1% at RM3.69, at 10.35am in Kuala Lumpur.

“YTL Power became a market darling after it announced in December a venture with Nvidia Corp for a data centre in the southern state of Johor,” it said.

The utility firm also owns power generation assets in Singapore and operates Wessex Water in the UK.

Its conglomerate parent, YTL Corp, is controlled by Malaysian tycoon Francis Yeoh and his siblings.

The anti-corruption agency said it was investigating YTL Communications under an Act that governs offenses related to false claims, without providing further details.

YTL Power said its unit won the project via an open tender involving 19 companies in 2011 and was selected for being the most technically compliant and cost-effective bid.

“The education ministry certified the successful completion of the project at the end of the contract period on June 30, 2019.

“YTL Communications trusts that the matter will be satisfactorily resolved,” said YTL Power.