The Selangor State Development Corporation (PKNS) issued a statement today denying claims it had incurred losses of RM103.69 million and accumulated debts of RM6.1 billion. PKNS called the allegations inaccurate and misleading, rejecting portrayals of the corporation as being in serious financial difficulty [1, 2, 3, 4].
PKNS highlighted that citing the loss and debt figures separately without explaining the financing structure and overall financial position created a misleading perception that did not reflect the actual facts and circumstances [1, 2, 3, 4].
The corporation pointed to an independent assessment by RAM Ratings, which confirmed that PKNS remains in a strong and stable financial position. RAM Ratings continues to maintain its AA1/Stable/P1 rating on PKNS, underscoring the company's financial strength and creditworthiness [1, 2, 3, 4]. PKNS stated, "An independent assessment by RAM Ratings confirmed that PKNS remains in a strong and stable financial position. RAM Ratings continues to maintain its AA1/Stable/P1 rating on PKNS" [2].
The statement was made on August 10, 2026, reaffirming PKNS's financial status amid circulating claims of heavy losses and debts [1, 2, 3, 4].
