Windfall Levy Discontinued

Consistent with the government's recent inconsistencies, the controversial windfall tax on IPPs is being discontinued.

Here is the link for further information.

This is good news for companies like YTLPOWER that was caught off guard by the sudden introduction of windfall taxes to pressure them to re-negotiate the highly profitable PPAs with TNB.

Although the damage has been done for at least the current year, investors would at least let a sigh of relief that it won't continue in the future. But the after-taste for this experience will no doubt taint the current government reputation as a business friendly entity.