TNB, Malakoff file judicial review against MoF


TNB has a 60% stake in KEV through TNB Power Generation Sdn Bhd, while Malakoff owns the remainder 40% stake in KEV.

PETALING JAYA: Tenaga Nasional Bhd (TNB) and Malakoff Corp Bhd have filed a judicial review against the Minister of Finance at the High Court to challenge the matters arising from the assessment notices recently issued to their subsidiary.

Early this month, both power companies said their subsidiary, Kapar Energy Ventures Sdn Bhd (KEV), on Nov 1 received notices of assessment from the Inland Revenue Board for the years of assessment (YAs) 2011, 2012 and 2014 and notices of additional assessment for YAs 2013, 2015, 2016, 2017 and 2018 amounting in aggregate to RM595.94mil.

TNB has a 60% stake in KEV through TNB Power Generation Sdn Bhd, while Malakoff owns the remainder 40% stake in KEV.

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