No-Portfolio Minister Konrad Mizzi this morning denied having generated a personal revenue of £5million (€6.5 million) prior to becoming minister, as reported in the Times of Malta today. In a statement issued soon after the report was publised, Dr Mizzi said that these funds were generated for the company he worked for at the time.

According to the Panama Papers, an email sent by Karl Cini of Nexia BT to Mossack Fonseca, included a biography and past working history. In the email, the following was written "The UBO (Mizzi) was also Partner and Head of the Energy and Infrastructure Practice for the EMEA region (Europe, Middle East and Africa) with Pcubed, a global leader in projects delivery. He set up the practice and developed major accounts with personal revenue amounting to GBP 5m."

Minister Mizzi's declaration of assets last year saw €389,440 in bank deposits declared.

The minister, in response to the article in the Times, made the following declaration: "The Times of Malta is at best misreading, at worst maliciously misleading, by quoting a document which is a short biography of my work experience abroad prior to my candidacy with the Labour Party. Therein, it is stated that I personally generated 5 million GBP in revenue, obviously for the firm I formed part of. Any other reading of that statement would be entirely out of context, disingenuous or plain malicious".

The company mentioned in relation to the £5 million, called PCubed, is described on its website as: "the largest global management consulting firm uniquely focused on program, portfolio and change management. We have delivered business transformation and embedded innovation for half of the Fortune 100 since 1994".

The Malta Independent was also in possession of the documents as partners in the Panama Papers with the International Consortium of Investigative Journalists and German newspaper Süddeutsche Zeitung.

Upon finding the documents yesterday, this newsroom sent questions to Minister Mizzi; no replies were received.

This newsroom asked questions relating to what the £5 million was earned for and asked for other details relating to the money.

Mizzi has always held that the New Zealand Trust, in which the company in Panama falls, would be used to be "populated with his assets".