TNB-Malakoff unit gets new court date for RM596 mil IRB assessment notices claim

TNB-Malakoff unit gets new court date for RM596 mil IRB assessment notices claim

KUALA LUMPUR (Aug 18): The High Court has granted Kapar Energy Ventures Sdn Bhd (KEV) an interim stay extension on the Inland Revenue Board’s (IRB) enforcement of notices of assessment until Sept 13, 2022.

KEV is a 60%-owned subsidiary of TNB Power Generation Sdn Bhd, the latter being a wholly-owned subsidiary of Tenaga Nasional Bhd (TNB), while it is also a 40%-owned associate of Malakoff Corp Bhd.

In a filing with Bursa Malaysia, both TNB and Malakoff said the High Court, at the case management session on Thursday, has also vacated the hearing for KEV’s leave application for judicial review that was initially fixed on Aug 18.

“The High Court has rescheduled the hearing date for the application on Sept 13, 2022,” they said.

According to a filing with Bursa Malaysia on Nov 5, 2021, KEV received notices of assessment from the IRB amounting to over half a billion ringgit.

KEV, on Nov 1, 2021, received notices of assessment for 2011, 2012 and 2014, and notices of additional assessment for 2013, 2015, 2016, 2017 and 2018, all dated Oct 29, 2021, amounting in aggregate to RM595.95 million.

http://www.theedgemarkets.com/article/tnbmalakoff-unit-gets-new-court-date-rm596-mil-irb-assessment-notices-claim