KUALA LUMPUR: UEM Sunrise Bhd yesterday said the High Court of Kuala Lumpur denied its unit, Symphony Hills Sdn Bhd's, (SHSB) bid for a judicial review of the government's decision to charge it additional tax of RM73.69 million in 2021.
On May 3, 2021, UEM Land Bhd (UEML) and SHSB received notices of additional assessment from the Director General of Inland Revenue dated April 30, 2021, for additional taxes with penalties amounting to RM82.18 million. Both UEML and SHSB sought judicial reviews on the decision.
The bid by UEML was disallowed by the High Court in March this year. At the time, UEM Sunrise said it would file an appeal to stay the decision at the Court of Appeal.
In a filing with Bursa Malaysia Securities Bhd on Wednesday, UEM Sunrise said SHSB was ordered to pay costs of RM2,500 to the Minister of Finance and Director General of Inland Revenue respectively.
Upon receipt of the decision, UEM Sunrise applied for and was granted an interim stay until the disposal of the stay application at the High Court.
The formal stay application is to be filed within 30 days from November 8, 2023.
"The company intends to file the formal stay application within the stipulated deadline," UEM Sunrise said.
UEM Sunrise open unchanged at 82.5 sen a share.
