<div class=newsTextDataWrapInner><p><span style="font-style: italics;">This article first appeared in The Edge Financial Daily on February 19, 2020</span></p></div><div class=newsTextDataWrapInner><p>KUALA LUMPUR: Seacera Group Bhd’s major subsidiary Duta Skyline Sdn Bhd is being sued by the Inland Revenue Board (IRB) for RM25.62 million in outstanding tax payments.</p></div>

<div class=newsTextDataWrapInner><p>In a bourse filing yesterday, Seacera said Duta Skyline was on Monday (Feb 17) served with a statement of claim and writ of summon by IRB. Duta Skyline holds assets of more than 70% within the Seacera group.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>IRB is also seeking interest at the rate of 5% per year from the date of judgement until the full realisation date, costs and any other relief the Court may deem fit.</p></div>

<div class=newsTextDataWrapInner><p>“The company is currently seeking professional legal advice and will make further announcement on any material development on this matter,” Seacera said, adding that it does not see any operational and financial impacts from this legal suit.</p></div>

<div class=newsTextDataWrapInner><p>“No major impact as the amount alleged if awarded by the court in favour of IRB will be borne by Datuk Ismail Othman, the vendor and previous indirect shareholder of Duta Skyline,” it said.</p></div>

<div class=newsTextDataWrapInner><p>The case management has been fixed by the court on Feb 26.</p></div>


KUALA LUMPUR: Seacera Group Bhd’s major subsidiary Duta Skyline Sdn Bhd is being sued by the Inland Revenue Board (IRB) for RM25.62 million in outstanding tax payments.

In a bourse filing yesterday, Seacera said Duta Skyline was on Monday (Feb 17) served with a statement of claim and wr...

Seacera unit sued for RM25.6m in unpaid taxes

EVENING 5: Five things you need to know today

AirAsia X Bhd (AAX), which will be taking over Capital A Bhd's aviation business, has announced the mechanics of its plan via a bourse filing on Thursday.

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Members of the Employees Provident Fund (EPF) who are below 55 years old will have an Account 3 starting from May 11, from which they can make withdrawals at any time for any purpose — subject to a minimum withdrawal amount of RM50. This is on top of the two existing accounts they currently have for retirement savings.

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Malaysia nevers forget the sacrifices Australian and New Zealand heroes made during the World War II particularly in Sandakan and the lessons of history will be carried forward to the new generation.

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The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives hit a two-month low on Thursday, due to weaker soybean oil futures on the Chicago Board of Trade (CBOT), said a dealer.

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Prime Minister Datuk Seri Anwar Ibrahim stressed the need for immediate and innovative action when government policies are announced.

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<p>Malaysia is in early discussions with tycoons on opening a casino in Forest City, people familiar with the matter said, in a bid to revive the beleaguered US$100 billion (RM478.35 billion) property project that counts the country’s monarch as one of its shareholders.</p>


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<p>Sports retailer Al-Ikhsan Sports Sdn Bhd, in which state-owned private equity firm Ekuiti Nasional Bhd (Ekuinas) owns a 35% stake, has appointed Datuk Hishammudin Hasan as its new chief executive officer effective April 17.</p>


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<p>Wireless carrier Axiata Group Bhd and conglomerate PT Sinar Mas Group are moving forward with plans to merge their telecommunications operations in Indonesia, people familiar with the matter said.</p>


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<p>Prime Minister Datuk Seri Anwar Ibrahim on Thursday denied claims that the government will issue a licence for the operation of a casino in Forest City, Johor.</p>


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<p>IOI Properties Group broke ground on Thursday for Senna Puteri, its latest township development located in Sepang, Selangor. The developer is looking to launch 386 units of townhouses in its first phase before the end of the second quarter.</p>

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Parasitic worms Anisakis sp found in canned sardines from China — Johor dept

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<p>Malaysia’s consumer inflation came in lower than expected in March from a year earlier as prices of healthcare and food rose at a slower pace, official data on Thursday showed.</p>

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<p>The Malaysian Anti-Corruption Commission (MACC) has confirmed that former prime minister Tun Dr Mahathir Mohamad is among individuals under investigation by the commission.</p>


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<p>The Court of Appeal has allowed a bid by Tan Sri Muhyiddin Yassin to have a bench of five judges to hear his review application to restore his acquittal by the High Court of four of his abuse of power charges last year.</p>

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<p>KUALA LUMPUR (April 25): Former prime minister Datuk Seri Najib Razak had never instructed 1Malaysia Development Bhd’s (1MDB) management to transfer a total US$1.03 billion to Good Star Ltd, a company linked to the fugitive Low Taek Jho (Jho Low), the court heard on Thursday.</p>


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<p>Investors are looking for the next policy domino to fall in Asia amid an escalating campaign against a resurgent dollar, after Indonesia used a surprise interest rate hike to defend the rupiah.</p>


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<p>Luxchem Corp Bhd’s net profit for the first quarter ended March 31, 2024 (1QFY2024) surged over 54% to RM11.56 million or 1.08 sen per share from RM7.5 million or 0.7 sen per share a year earlier on the back of stronger earnings from both its trading and manufacturing segments.</p>

<p>The industrial chemical and material group’s revenue rose 19.8% to RM183.15 million versus RM152.83 million a year ago as driven by its trading and manufacturing segments, according to a bourse filing on Thursday. &nbsp;</p>


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<p>Shares of CapitaLand Malaysia Trust (CLMT) surged on Thursday to its highest in nearly four years while analysts remained upbeat following better-than-expected first-quarter (1Q) results.</p>


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<p>KUALA LUMPUR (April 25): Malaysia requires an annual allocation of at least RM10 billion for the next three years, which is crucial to boost water infrastructure amid below-cost tariffs and high wastage, the National Water Services Commission (SPAN) said on Thursday.</p>


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<p>MKH Oil Palm (East Kalimantan) Bhd (MKHOP), the plantation arm of property developer MKH Bhd, reported RM16.02 million net profit on the back of RM86.05 million revenue for the second quarter ended March 31, 2024 (2QFY2024), ahead of its listing on Bursa Malaysia’s Main Market.</p>


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<p>Global semiconductor firm Nasdaq-listed TTM Technologies Inc has invested US$200 million (about RM958 million) for its first manufacturing plant in Malaysia.</p>
