The demands include time-barred assessments for the years 2008 to 2011, import duty remittance for purchases of equipment, and goods and services tax for purchases made after April 2015.
“WMSB has been engaging with the Customs Department and finance ministry in seeking additional input to provide guidance to the company, but received an unfavourable decision from the authorities on Dec 19, 2017.
“An appeal is being processed to facilitate the convergence towards an amicable settlement in relation to the demands,” said the company in a filing to Bursa Malaysia today.
The demands are not expected to have a material impact based on the net assets of the group.