KUALA LUMPUR: Country Heights Holdings Bhd’s (CHHB) wholly-owned subsidiary Country Heights Sdn Bhd (CHSB) has been slapped with two law suits by the Malaysian government claiming a total of RM28.10 million in income tax.

In a filing with Bursa Malaysia yesterday, CHHB said two summonses for the above, dated Aug 17, were received by the company on Sept 4. The first suit was for income tax for the years of assessment 1997 and 1998 — amounting to the sum of RM23.48 million. The second was for the year of assessment 2008, for RM4.62 million. Both claims come with interest at the rate of 5% per annum, to be calculated from the date of judgement thereon until full settlement.

CHSB is in the process of filing its memorandum of appearance for both suits. “The above suits are not expected to have any material impact on the net assets per share, earnings per share and gearing of the CHHB Group in the current financial year as the tax payables have already been provided for in the financial statements of the group,” it added.

This article first appeared in digitaledge Daily, on September 8, 2015.