PETALING JAYA: Tan Chong Motor Holdings Bhd
is expected to settle the bills of demand from the Royal Malaysian Customs Department totalling RM108.06mil over 36 months following a consent judgment from the Shah Alam High Court.
The out-of-court settlement would involve the company paying RM10.8mil on or before April 20 this year, while the remaining balance of RM97.26mil would be made in 36 equal monthly instalments of RM2.7mil, from May 2021 to April 2024.