Tenaga down 1.75% on RM3.98b additional taxes from IRB

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KUALA LUMPUR (Nov 29): Tenaga Nasional Bhd (TNB) shares dipped 1.75% this morning after the utility giant received notices of additional assessments from the Inland Revenue Board that amounted to RM3.98 billion for the years of assessment 2015 to 2017.

At 9.15am, TNB fell 24 sen to RM13.48, for a market capitalisation of RM76.66 billion.

Based on the legal advice obtained, TNB said it has good basis to contend that there is no legal and factual basis for the Inland Revenue Board to issue the said notices.