The High Court here on Thursday allowed a subsidiary of Sarawak Energy Bhd (SEB) to have RM10.9 billion be considered as investment tax allowance in 2019, after the Finance Ministry had earlier rejected the claim.
This follows the court granting the judicial review application made by SEB’s subsidiary Baleh Hydro Power Generation Sdn Bhd to challenge the Minister’s decision.
SEB’s subsidiary, Baleh Hydro Power Generation Sdn Bhd, which was appointed to construct a hydroelectric power plant in Kapit, Sarawak, had applied to the Ministry to claim the investment tax allowance, a type of tax incentive granted based on the capital expenditure a company incurs on approved projects.
