logo
TNB receives RM609.03m additional tax assessment for 2023

TNB receives RM609.03m additional tax assessment for 2023

Malay Mail4 days ago
KUALA LUMPUR, July 31 — Tenaga Nasional Bhd (TNB) has received a notice of additional assessment amounting to RM609.03 million from the Inland Revenue Board of Malaysia (IRB) for the 2023 assessment year.
In a filing with Bursa Malaysia today, the utility company said the notice was issued on July 30, 2025.
'In light of the Federal Court's decision on a similar notice issued to TNB for the 2018 assessment year, TNB is currently evaluating its available legal options to address this notice of additional assessment,' the company said.
It added that the evaluation also considers the fact that TNB has already applied for investment allowance under Schedule 7B of the Income Tax Act 1967, which includes claims for the 2023 year of assessment. — Bernama
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Tex Cycle acquires Meridian World for RM42.8mil
Tex Cycle acquires Meridian World for RM42.8mil

New Straits Times

time42 minutes ago

  • New Straits Times

Tex Cycle acquires Meridian World for RM42.8mil

KUALA LUMPUR: Tex Cycle Technology (M) Bhd has acquired Meridian World Sdn Bhd for RM42.8 million to the vendors, while an additional RM6.7 million retention sum was also paid to its solicitors. In a filing with Bursa Malaysia today, the waste management and recycling solutions provider said that with Meridian World now part of the group, Tex Cycle is well-positioned to scale its operations and enhance cross-segment synergies across scheduled waste recovery, environmental testing, chemical recycling, and renewable energy. Tex Cycle Group chief executive officer Gary Dass Anthony Francis said the completion of this deal is more than a financial transaction as it represents the fusion of two established industry players in Malaysia's environmental services sector to offer an expanded suite of product and service offerings that would enhance the competitive edge of the enlarged group moving forward. "Meridian World has an established track record of approximately 30 years in the scheduled waste management sector and a strong foothold in specialised waste streams, including chemical and niche waste codes such as e-waste, which gives us an expanded platform to provide end-to-end, sustainable waste solutions across industries. "Together, we are charting a more resilient, diversified, and innovative path in line with our long-term growth aspirations," he said. Meanwhile, Meridian World managing director Teoh Kok Cheow said the collaboration enables them to expand their capabilities, reach new markets, and collectively drive greater impact across Malaysia's waste management and circular economy landscape.

Bumi Armada, MISC call off merger plans as MoU nears expiry
Bumi Armada, MISC call off merger plans as MoU nears expiry

The Star

timean hour ago

  • The Star

Bumi Armada, MISC call off merger plans as MoU nears expiry

KUALA LUMPUR: Bumi Armada Bhd and MISC Bhd have mutually agreed not to proceed with their proposed merger, with the memorandum of understanding (MoU) between the two parties set to lapse on Aug 14, 2025. In a filing with Bursa Malaysia today, Bumi Armada said it will continue to pursue strategic growth opportunities, supported by its robust financial position. It was reported that Bumi Armada had inked an MoU with MISC on Nov 14, 2024 to explore a prospective merger with MISC's offshore business via an all-shares transaction. The partnership was announced to create a Malaysia-based, sector-focused entity that will utilise the combined talent pool, project development and engineering capabilities, along with the expertise of both MISC's offshore business and Bumi Armada. The MoU was effective for nine months from the date of signing, until the execution of definitive agreement(s) or termination of the MoU, whichever occurred earlier, unless otherwise agreed by the parties. - Bernama

Puncak Niaga's subsidiary to dispose of 3 loss-making units for RM3
Puncak Niaga's subsidiary to dispose of 3 loss-making units for RM3

Free Malaysia Today

time2 hours ago

  • Free Malaysia Today

Puncak Niaga's subsidiary to dispose of 3 loss-making units for RM3

Puncak Niaga said the three entities have been inactive and incurred losses since their acquisition by TRIplc Bhd in 2018 for RM210 million. (Facebook pic) PETALING JAYA : Puncak Niaga Holdings Bhd's wholly-owned subsidiary, TRIplc Bhd, is disposing of its 100% stake in each of three dormant and loss-making units for a total cash consideration of RM3, as part of efforts to streamline its corporate structure and reduce costs. The three companies involved in the proposed disposal are Layar Kekal (M) Sdn Bhd, Samasys Sdn Bhd and Tirai Gemilang Sdn Bhd, each to be sold for RM1, Puncak Niaga said in a filing with Bursa Malaysia today. Puncak Niaga said the three entities have been inactive and incurred losses since their acquisition by TRIplc on May 31, 2018, for RM210 million, while the total cost of investment in the three companies was RM150 million. 'The board was of the opinion that the cash consideration of RM1 on each company is reasonable, as it enables the group to streamline its structure and achieve cost savings on annual statutory fees,' it said. According to the latest audited financial statements for the financial year ended Dec 31, 2024, Layar Kekal, Samasys and Tirai Gemilang recorded net losses of RM5.38 million, RM5.11 million and RM5.30 million respectively and all three companies had net liabilities of RM3,400 each. Puncak Niaga also clarified that the announcement of the disposal was delayed because the company only received the duly stamped share sale agreements in the late evening of July 30, 2025. 'As the stamping of the agreements is essential to formalise the transaction, the company proceeded to make the announcement on the next market day – July 31, 2025. 'The short delay was also required to complete internal verification and ensure compliance with Bursa's disclosure requirements under the Main Market Listing Requirements,' it added. Puncak Niaga also disclosed that all three companies share the same set of directors, namely Rozali Ismail, Taufik Afendy Othman, Azlan Shah Rozali, Faridatulzakiah Bakhry, and Shahree Shamsuddin. Copies of the audited financial statements for the financial year ended Dec 31, 2024, and May 31, 2018, are available for inspection at Puncak Niaga's registered office in Shah Alam for a period of three months from the date of this announcement.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store