KUALA LUMPUR: Tenaga Nasional Bhd’s (TNB) subsidiary, Southern Power Generation Sdn Bhd (SPG), has won its judicial review against the Inland Revenue Board (LHDN) to set aside RM78.49 million in additional tax assessments for the years 2017 to 2021.
TNB in a Bursa Malaysia filing today said that the High Court agreed with SPG’s legal counsel that the LHDN had no legal basis to issue the notices.
The notices of assessment for the years of assessment 2017 to 2021, all dated May 26, 2023, together amounted to RM78.49 million. TNB noted that it had also made related announcements between June 2023 and September 2025.
SPG operates two 720-megawatt combined cycle gas turbine power plants in Johor and is 70% owned by TNB Power Generation Sdn Bhd.
At the close today, TNB shares surged 36 sen to RM13.46.