<div class=newsTextDataWrapInner><p>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.</p></div>

<div class=newsTextDataWrapInner><p>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.</p></div>

<div class=newsTextDataWrapInner><p>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.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The High Court awarded the interim stay last Friday, Tan Chong said. It also fixed the hearing of the leave application for Nov 25.</p></div>

<div class=newsTextDataWrapInner><p>Shares in Tan Chong traded unchanged at RM1.02 at the time of writing, valuing the group at RM685.44 million.</p></div>

<div class=newsTextDataWrapInner><p><em>Edited by Lam Jian Wyn</em></p></div>


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.

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<p>Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday:</p>


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Senior police officer arrested for alleged corruption given until April 28 to declare assets to MACC

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<p class="thumb-cap">E...

EVENING 5: Five things you need to know today

<p>TAS Offshore Bhd’s net profit has leapt by nine-fold year-on-year for the financial quarter ended Feb 29, 2024 (3QFY2024) due to more vessels delivered.</p>


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<p>Wall Street stocks closed lower on Thursday as markets were stunned by data showing slower-than-expected US economic growth and persistent inflation, coupled with a sell-off in large cap stocks triggered by disappointing results from Meta Platforms.</p>


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<p>Harvey Weinstein's 2020 conviction for sexual assault and rape was overturned by New York's highest court, reopening the landmark case that fuelled the #MeToo movement and highlighting the challenges of holding powerful men accountable.</p>


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<p>US economic growth for the first quarter could be revised higher and inflation will ease to more normal levels, Treasury Secretary Janet Yellen told <em>Reuters </em>on Thursday after a clutch of "peculiar" factors held the economy to its weakest showing in nearly two years.</p>


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<p>Hulu Selangor Bersatu action division head has been named as Perikatan Nasional's (PN) candidate for the Kuala Kubu Baharu (KKB) state by-election on May 11.</p>


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<p>EUPE Corp Bhd's net profit surged by 28.9% to RM14.54 million in the fourth quarter ended Feb 29, 2024 (4QFY2024) from RM11.28 million a year ago, underpinned by a higher contribution from the property development division.</p>


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<p>(April 26): The Tesla Inc. shareholder who won a court order in Delaware killing co-founder Elon Musk’s US$56 billion pay package is premature in asking the judge to bar the billionaire from moving the executive-compensation dispute to Texas, the car company’s lawyers argue.</p>

<p>Tesla inves...

<p>(April 26): Former President Donald Trump’s economic advisers are considering ways to actively stop nations from shifting away from using the dollar — an effort to counter budding moves among key emerging markets to reduce exposure to the US currency, according to people familiar with the matter....

<p>RHB Retail Research said VS Industry Bhd is poised to continue the bullish trajectory after it broke past the key resistance on high volume.</p>


<p>RHB Retail Research said YTL Corp Bhd is eyeing to extend the upside movement after it staged a bullish breakout.</p>


<p>Mercury Securities Sdn Bhd has valued ACE Market-bound Sin-Kung Logistics Bhd at 14 sen based on a 14 times financial year 2025 (FY2025) earnings per share forecast of one sen.</p>
