KUALA LUMPUR (Aug 21): Bertam Alliance Bhd's indirect wholly-owned subsidiary MV Properties Sdn Bhd (MVSB) is being sued by the Inland Revenue Board (IRB) for RM17.67 million in outstanding tax payments.
In a bourse filing today, Bertam said MVSB was served on Aug 7 with a statement of claim and writ of summons by IRB demanding the settlement of the outstanding tax payable, inclusive of penalties for the assessment year 2017.
"Presently, the management of Bertam is in active discussion with IRB for a settlement proposal on the outstanding tax payable. The board will release further announcement(s) on the settlement proposal to Bursa Malaysia in due course," it added.
MVSB has 14 days from the date of receipt of the writ of summon to serve an appearance. Case management on the matter has been fixed on Sept 4.
“Save for the outstanding tax payable, the summons will not have any additional financial and operational impact on the group,” said Bertam.
Shares in Bertam closed one sen or 8.33% higher at 13 sen today, for a market value of RM26.88 million.