KUALA LUMPUR (Aug 24): Tan Chong Motor Holdings Bhd said the Shah Alam High Court has granted an interim stay of the RM180.11 million excise duty claim by the Customs Department until Sept 3.
The interim stay also covers all further proceedings, said Tan Chong in a filing today. "The interim stay is to be renewed upon its expiry," it added.
The excise duty claim was issued by the Customs Department on May 15 this year. Tan Chong intends to apply for leave to appeal against the claim, after the Customs Department this month maintained the demand following Tan Chong's request for review back in June.
The High Court awarded the interim stay last Friday, Tan Chong said. It also fixed the hearing of the leave application for Nov 25.
Shares in Tan Chong traded unchanged at RM1.02 at the time of writing, valuing the group at RM685.44 million.
Edited by Lam Jian Wyn