YTL Power Says No Knowledge of Illegal UK Payment

Aug 22 2002 – Malaysian energy firm YTL Power International Bhd said on Thursday it had no knowledge of any illegal payment relating to its acquisition of British utility Wessex Water this year.

“YTL Power has no knowledge of any illegal payment and has offered the police its full cooperation in relation to the investigation,” the company said in a statement released in London.

British fraud police arrested Wessex Water’s chairman and chief executive, Colin Skellett, earlier on Thursday on suspicion of taking a bribe of nearly a à‚£1 million ($1.5 million) when the water firm was sold to YTL Power by failed energy trader Enron’s Azurix unit earlier this year.

YTL Power is 60 per cent owned by YTL Corp.

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