Latest news with #RM5.05
Daily Express
04-07-2025
- Business
- Daily Express
TNB facing RM5 billion tax bill after Federal Court ruling
Published on: Friday, July 04, 2025 Published on: Fri, Jul 04, 2025 By: FMT Reporters Text Size: On Wednesday, the Federal Court ruled that TNB is a utility company, and not a manufacturing concern eligible to claim reinvestment allowance. PETALING JAYA: National utility company Tenaga Nasional Bhd is facing a RM5.05 billion tax bill following a Federal Court rulIng that it is not eligible to claim reinvestment allowance. Citing TNB's 2024 annual report, The Edge reported today that the Inland Revenue Board (LHDN) issued the company RM9.25 billion in additional tax assessments. Advertisement However, RM2.44 billion in penalties was waived through settlements. 'TNB paid RM1.76 billion in December 2020, leaving an estimated RM5.05 billion still outstanding,' the report by the financial portal added. Yesterday, it was reported that TNB's shares plunged a day after the Federal Court overturned a ruling in the largest corporate tax dispute in the country's history, resulting in losses of over RM3 billion in its market capitalisation. Its shares fell as much as 74 sen, or over 5%, to its lowest level since June 3, with the counter closing at RM14.02. On Wednesday the apex court overturned a Court of Appeal ruling that found the national utility company to be in the business of manufacturing electricity. It said TNB should actually have been considered a utility company under Schedule 7B of the Income Tax Act 1967 (ITA). The dispute arose when LHDN disallowed TNB's claim under Schedule 7A of the ITA on the basis that the generation, distribution and transmission of electricity did not constitute manufacturing of electricity. TNB had also argued that it was only a service provider. In 2022, the High Court allowed TNB's judicial review application to set aside LHDN's RM1.8 billion tax assessment for the year 2018. Two years later, the Court of Appeal upheld the High Court's ruling. TNB has already paid the sum. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Malaysiakini
04-07-2025
- Business
- Malaysiakini
TNB faces RM5.05b tax bill following apex court verdict
Tenaga Nasional Berhad is facing tax arrears of RM5.05 billion after the Federal Court ruled it is ineligible to claim reinvestment allowance (RIA), which is meant for manufacturers, according to a report by The Edge today. The company reportedly warned that the ruling may impact its earnings and net assets this year.
Malaysiakini
04-07-2025
- Business
- Malaysiakini
TNB faces RM5.05b tax bill following apex court verdict
Tenaga Nasional Berhad is facing tax arrears of RM5.05 billion after the Federal Court ruled it is ineligible to claim reinvestment allowance (RIA), which is meant for manufacturers, according to a report by The Edge today. The company reportedly warned that the ruling may impact its earnings and net assets this year.
Yahoo
19-02-2025
- Business
- Yahoo
Should You Investigate Malayan Cement Berhad (KLSE:MCEMENT) At RM4.69?
Malayan Cement Berhad (KLSE:MCEMENT), is not the largest company out there, but it received a lot of attention from a substantial price movement on the KLSE over the last few months, increasing to RM5.05 at one point, and dropping to the lows of RM4.57. Some share price movements can give investors a better opportunity to enter into the stock, and potentially buy at a lower price. A question to answer is whether Malayan Cement Berhad's current trading price of RM4.69 reflective of the actual value of the small-cap? Or is it currently undervalued, providing us with the opportunity to buy? Let's take a look at Malayan Cement Berhad's outlook and value based on the most recent financial data to see if there are any catalysts for a price change. See our latest analysis for Malayan Cement Berhad Malayan Cement Berhad appears to be expensive according to our price multiple model, which makes a comparison between the company's price-to-earnings ratio and the industry average. In this instance, we've used the price-to-earnings (PE) ratio given that there is not enough information to reliably forecast the stock's cash flows. We find that Malayan Cement Berhad's ratio of 13.29x is above its peer average of 10.92x, which suggests the stock is trading at a higher price compared to the Basic Materials industry. Another thing to keep in mind is that Malayan Cement Berhad's share price is quite stable relative to the rest of the market, as indicated by its low beta. This means that if you believe the current share price should move towards the levels of its industry peers over time, a low beta could suggest it is not likely to reach that level anytime soon, and once it's there, it may be hard for it to fall back down into an attractive buying range again. Future outlook is an important aspect when you're looking at buying a stock, especially if you are an investor looking for growth in your portfolio. Buying a great company with a robust outlook at a cheap price is always a good investment, so let's also take a look at the company's future expectations. Malayan Cement Berhad's earnings growth are expected to be in the teens in the upcoming years, indicating a solid future ahead. This should lead to robust cash flows, feeding into a higher share value. Are you a shareholder? MCEMENT's optimistic future growth appears to have been factored into the current share price, with shares trading above industry price multiples. However, this brings up another question – is now the right time to sell? If you believe MCEMENT should trade below its current price, selling high and buying it back up again when its price falls towards the industry PE ratio can be profitable. But before you make this decision, take a look at whether its fundamentals have changed. Are you a potential investor? If you've been keeping an eye on MCEMENT for a while, now may not be the best time to enter into the stock. The price has surpassed its industry peers, which means it is likely that there is no more upside from mispricing. However, the optimistic prospect is encouraging for MCEMENT, which means it's worth diving deeper into other factors in order to take advantage of the next price drop. Keep in mind, when it comes to analysing a stock it's worth noting the risks involved. In terms of investment risks, we've identified 1 warning sign with Malayan Cement Berhad, and understanding it should be part of your investment process. If you are no longer interested in Malayan Cement Berhad, you can use our free platform to see our list of over 50 other stocks with a high growth potential. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
