This article first appeared in The Edge Financial Daily, on April 6, 2016.

KUALA LUMPUR: Ranhill Holdings Bhd has refuted reports that it offered Monaco-based company Unaoil US$40 million (RM157.2 million) to convince senior officials in the Libyan government to award it a large housing construction contract.

In a bourse filing, Ranhill said neither the company nor any of its group of companies have entered into any transaction or arrangement with Unaoil.

“We wish to further clarify that at Ranhill, we have due process prescribed in the forms of policies and procedures with regards to engagement of third parties that include due diligence process and we practise code of conduct and good business ethics,” it added.

In a series of exposés on Unaoil, a firm that allegedly helps multinational corporations win contracts in areas of the world where corruption is common, The Huffington Post and Australia’s Fairfax Media reported last week that Malaysian company Ranhill offered Unaoil US$40 million to convince senior Libyan officials to award it a large housing construction contract.

Australia’s The Age reported that leaked emails show Ranhill approached Unaoil after former Malaysian prime minister Tun Mahathir Mohamad had failed to convince Colonel Gaddafi to help with the matter.

The report alleged that Unaoil had paid a high ranking Libyan official, Mustafa Zarti, to assist Ranhill to bag the contract.