TNB-Malakoff JV resolves tax dispute

PETALING JAYA: Tenaga Nasional Bhd (TNB) and Malakoff Corp Bhd stated its joint venture Kapar Energy Ventures Sdn Bhd (KEV) has withdrawn the judicial review application pursuant to an out-of-court settlement with the Inland Revenue Board of Malaysia (IRB).

In separate filings with Bursa Malaysia, TNB and Malakoff said the out-of-court settlement is not expected to have any material impact on their financial positions.