KUALA LUMPUR – 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 September 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 today, has also vacated the hearing for KEV’s leave application for judicial review that was initially fixed for today.
“The high court has rescheduled the hearing date for the application on September 13, 2022,” they said.
According to a filing with Bursa Malaysia on November 5, 2021, KEV received notices of assessment from the IRB amounting to over half a billion ringgit.
KEV, on November 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 October 29, 2021, amounting in aggregate to RM595.95 million. – Bernama, August 18, 2022
