KUALA LUMPUR (July 17): Atlan Holdings Bhd said the Court of Appeal has ruled in favour of the group’s indirect subsidiary Seruntun Maju Sdn Bhd, which was slapped with RM38.96 million in bills of demand issued by the Customs Department.

Seruntun is a subsidiary of Singapore-listed Duty Free International Ltd (DFIL), in which Atlan holds a 75.07% equity interest.

“On June 18, the Court of Appeal unanimously ruled in favour of Seruntun’s appeal against the decision of the High Court and quashed the bills of demand issued by Customs for customs duties and excise duties dated Nov 14, 2017, amounting to RM15.4 million and RM23.56 million respectively,” DFIL said in a filing with the Singapore exchange.

A copy of the announcement was also filed with Bursa Malaysia through Atlan.

Atlan said Customs has filed an application for leave to appeal against the Court of Appeal’s decision to the Federal Court.