PETALING JAYA: Finance Minister Tengku Zafrul Aziz and the Ministry of Finance Inc have denied inviting Ranhill Utilities Bhd to undertake a due diligence exercise on Indah Water Konsortium Sdn Bhd (IWK).
The ministry was responding to an announcement from Ranhill that the company had been invited by Prokhas Sdn Bhd, a private company under the finance ministry, to conduct the study.
“Prokhas never issued invitations to anyone to undertake due diligence on IWK, as per the statement issued by Ranhill,” they said.
Yesterday, in a filing with Bursa Malaysia, Ranhill announced that it had been invited by the finance ministry to undertake a due diligence exercise on IWK in relation to a proposed disposal of its interest in IWK.
The company said it had submitted a proposal on June 26 for the restructuring of IWK, which will involve the finance ministry’s interest in IWK being disposed of to Ranhill.