News

Others Updates On Bills Of Demand From Royal Malaysian Customs Department

Reference is made to the Company's announcement dated 27 May 2020 in relation to the Bills of Demand received by Tan Chong Motor Assemblies Sdn Bhd (“TCMA”), a subsidiary of the Company, from Royal Malaysian Customs Department (“RMCD”) (“Bills of Demand”).

The Board of Directors would like to announce that on 11 June 2020, TCMA had made an application with the Director-General of RMCD (“DG”) for the review of the Bills of Demand (“Review Application”). On 12 August 2020, RMCD had informed that the DG has maintained the Bills of Demand (“RMCD’s Decision”).

Based on the legal advice obtained from our tax solicitors, TCMA is of the view that it has a good basis in law to contend that the Bills of Demand were erroneously raised by the RMCD. Accordingly, TCMA will be appealing against the Bills of Demand the soonest.

The Company will update material developments on the above matter from time to time.

This announcement is dated 13 August 2020.

Announcement Info