We refer to the recent issuance of Notices of Additional Assessment for Years of Assessment (“YA”) 2013 – 2017 and Notices of Assessment for YA 2018 – 2019 (collectively referred to as “Notices”) by the Inland Revenue Board of Malaysia and our previous announcement on 30 September 2021, 26 October 2021, 3 March 2022 and 8 April 2022.

The intervener application filed by the Director General of Inland Revenue (“DGIR”) was fixed for hearing before the KL High Court on 15.6.2022 and after hearing the submissions from the Company’s tax counsel and the DGIR, the KL High Court has fixed the decision to be delivered on 18.8.2022.

In the meantime, the judicial review application lodged by the Company against the Minister of Finance (“MOF”) was also fixed for case management on 15.6.2022 before the KL High Court. The Company’s tax counsel informed the KL High Court that the counsel for the MOF is not present for the case management.

The Company’s tax counsel applied for the interim stay order to be extended until the decision date on 18.8.2022 in order to preserve the rights of the Company. The KL High Court granted an extension for the interim stay of all further proceedings including the enforcement of the Notices until 18.8.2022. Consequent to this interim stay order, the Company need not pay the disputed taxes.

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

This announcement is dated 16 June 2022.