Sime Darby, Kelington Group, Critical Holdings, Censof Holdings, Liamson Fleet, Pantech Global, Mentiga Corp, Binasat Communications & CTOS Digital
Several Malaysian companies, including Sime Darby and Kelington Group, have announced significant corporate updates ranging from tax disputes to new contract wins. These developments reflect ongoing activity in the Malaysian industrial and construction sectors.
Why it matters
These updates provide insight into the financial health and operational status of major players in the Malaysian market.
BURSA SGX Home Companies in the news Make The Edge Malaysia your preferred source on Google KUALA LUMPUR (Oct 13): Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday:
Sime Darby Bhd ’s (KL: SIME ) wholly owned subsidiary, Sime Darby Holdings Bhd (SDHB), has been slapped with a RM150.18 million tax bill from the Inland Revenue Board (IRB) for the 2017 to 2023 assessment years. Sime Darby said the tax bill, which includes penalties, arose after the IRB classified interest income from SDHB’s treasury activities as taxable under Section 4(c) of the Income Tax Act 1967. After consulting its tax and legal advisers, Sime Darby said it believes it has valid grounds to challenge the assessments and intends to appeal and initiate legal proceedings. — Sime Darby hit with RM150.2 mil tax bill, plans to appeal
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