Latest news with #TenagaNasionalBhd
New Straits Times
5 hours ago
- New Straits Times
Cops seize 61 bitcoin machines, uncover electricity theft at 9 locations in Manjung
IPOH: Police seized 61 bitcoin mining machines, believed to be linked to electricity theft, through an integrated operation with Tenaga Nasional Bhd (TNB) at nine separate locations around the Manjung district yesterday. Manjung police chief ACP Hasbullah Abdul Rahman said the integrated operation was conducted following intelligence and surveillance by the Criminal Investigation Division of the Manjung police headquarters and a TNB technical team after receiving complaints about activities involving electricity theft. "The raids, carried out simultaneously, led to the seizure of 61 mining rigs, nine wifi modems, nine routers and various equipment and connection cables. "Preliminary investigations found that the premises involved conducted Bitcoin mining activities by carrying out illegal electrical connections, resulting in huge losses to TNB," he said in a statement today. He said TNB estimated the loss of electricity in each premises reached thousands of ringgit per month. "All the machines operate non-stop daily and require very high electricity usage, besides disrupting the electricity supply in the area. "Not only is this illegal, it can also pose a risk of fire and danger to life and property as the wiring systems have been modified illegally and do not comply with safety standards," he said. The seized items were taken to the Manjung police headquarters and the case is being investigated under Section 427 of the Penal Code for committing mischief, including electricity theft, and Section 37(1) of the Electricity Supply Act 1990 for tampering with electrical installations.
The Star
12 hours ago
- Business
- The Star
Trading ideas: TNB, ITMAX, YTL-REIT, Paramount, Bintai Kinden, Chin Hin, Pharmaniaga, Unisem, Avillion
KUALA LUMPUR: Stocks to watch today include Tenaga Nasional Bhd (TNB), ITMax System Bhd , YTL Hospitality Real Estate Investment Trust (YTL‑REIT), Paramount Corp Bhd , Bintai Kinden Corp Bhd, Chin Hin Group Bhd (CHGB), Pharmaniaga Bhd , Unisem (M) Bhd and Avillion Bhd , following their recent corporate developments. TNB has received an additional tax assessment of RM609.03mil for 2023 from the Inland Revenue Board. The group is reviewing its legal options, noting it has applied for Investment Allowance under the Income Tax Act. YTL REIT posted a lower net profit of RM148.56mil for the financial year ended June 30, 2025 (FY2025), compared to RM178.0mil recorded in the previous year. Revenue slipped to RM548.30mil from RM554.90mil previously. Paramount is acquiring 18.97 acres of freehold land in Bandar Cassia, Penang, for RM57.84mil to boost its landbank in the northern region. The project is expected to generate a GDV of RM744mil and will be funded via internal funds and borrowings. ITMax has secured a contract worth RM145mil from the Johor Baru City Council (MBJB) for the deployment and maintenance of the smart traffic light system across the Johor Baru area. Bintai Kinden's FY25 financial statements were deemed true and fair by auditors, with a qualification tied only to legacy FY24 opening balances. Despite posting a pre-tax loss of RM31.97mil on lower revenue, the group saw an improved financial position, secured new projects, and expects stronger contributions ahead, with optimism about exiting PN17 status this year. Chin Hin is disposing of its entire equity interest in Metex Steel Sdn Bhd (MSSB) to EC Excel Wire Sdn Bhd for RM70mil. The proposed disposal provides an opportunity for the company to unlock and monetise its investment in MSSB. Pharmaniaga has completed its rights issue and regularisation plan, paving the way for the group to exit PN17 status by the first quarter of 2026. The rights issue saw full subscription with a 26.14% oversubscription rate, while the private placement attracted 19 new investors, reflecting strong confidence in the group's recovery and long-term growth plans. Unisem reported a net profit of RM9.13mil for 2QFY25, down from RM16.76mil a year earlier, with earnings per share falling to 0.57 sen from 1.04 sen. Revenue during the quarter stood at RM475.15mil as compared to RM394.59mil in 2QFY24. Avillion's external auditor flags material uncertainty over the group's ability to continue as a going concern due to continued losses and negative cash flow. Despite the concerns, the auditor's opinion on the FY25 financial statements remains unmodified.
The Star
13 hours ago
- Business
- The Star
Aid rises, but economic strain persists
GEORGE TOWN: Although cash aid programmes like Sumbangan Tunai Rahmah (STR) and Sumbangan Asas Rahmah (Sara) are welcomed relief efforts, there are calls for the government to address the root cause of financial hardship in the lower-income group. Housewife Azimah Aziz, 41, said the initiatives are timely, but stressed the need to reduce the impact of rising prices of essential goods. 'While the cash handouts help ease the pressure temporarily, they do not solve the economic challenges that low- and middle-income families face every day. 'Without stronger price controls and a progressive wage system, many Malaysians may remain trapped in a cycle of dependency,' she said. During the tabling of the 13th Malaysia Plan yesterday, Prime Minister Datuk Seri Anwar Ibrahim said the annual STR and monthly Sara cash aid initiatives would be expanded. The Sara programme will benefit 5.4 million recipients, up from 700,000 previously. It includes a one-off RM100 cash aid for all Malaysians aged 18 and above. Additional cost-saving measures include subsidised public transport and domestic airfares for students, senior citizens and persons with disabilities, as well as electricity bill reductions under Tenaga Nasional Bhd's Time-of-Use scheme. Professional photographer Allen Lim, 52, praised the government's support for needy families from the Chinese and Indian communities. 'It is a noble act to address this issue, as the cost of living affects all communities in the country,' he said. However, he noted that rather than injecting funds into new villages, the government should consider positioning it as a hub for tourism and the creative economy, backed by sustainable and forward-looking policies. Anwar said infrastructure and public amenities would be improved to enhance social connectivity and quality of life among the Chinese and Indian communities, including women, youths and senior citizens. The Chinese community will benefit from the implementation of the New Village Development Master Plan, which includes financing schemes for entrepreneurial activities and the upgrading of hawker stall sites. On the Indian community, Anwar said focus would be placed on increasing career opportunities through education and talent development, especially in the areas of Science, Technology, Engineering and Mathematics, as well as Technical and Vocational Education and Training. Civil servant M. Loga, 26, welcomed the RM40bil allocated to the healthcare sector. 'It is a timely move, especially given the rising cost of medical treatment. The allocation will strengthen and improve our public healthcare system,' he said. Loga said many long-overdue projects, including the upgrading of dilapidated clinics, modernisation of medical equipment and improved healthcare access in rural areas, could be expedited. He hoped that a portion of the funds would be directed towards reducing patient waiting times and increasing the number of employees at public hospitals.
The Star
17 hours ago
- Business
- The Star
TNB hit with RM609mil tax bill
TNB said it is evaluating its available legal options to address this notice of additional assessment. KUALA LUMPUR: Tenaga Nasional Bhd (TNB) has received a notice of additional assessment amounting to RM609.03mil from the Inland Revenue Board (IRB) for the 2023 assessment year. In a filing with Bursa Malaysia, the utility company said the notice was issued on July 30, 2025. 'In light of the Federal Court's decision on a similar notice issued to TNB for the 2018 assessment year, TNB is currently evaluating its available legal options to address this notice of additional assessment,' the company said. It added that the evaluation also considers the fact that TNB has already applied for investment allowance under Schedule 7B of the Income Tax Act 1967, which includes claims for the 2023 year of assessment. — Bernama
Barnama
a day ago
- Business
- Barnama
TNB TERIMA NOTIS TAKSIRAN TAMBAHAN RM609.03 JUTA BAGI TAHUN TAKSIRAN 2023
KUALA LUMPUR, July 31 (Bernama) -- Tenaga Nasional Bhd (TNB) has received a notice of additional assessment totaling RM609.03 million from the Inland Revenue Board of Malaysia (IRB) for the year of assessment 2023. The utility company, through a notification to Bursa Malaysia today, said the notice was issued on July 30, 2025.
