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The Company wishes to announce that its wholly-owned subsidiary, YNH Construction Sdn Bhd ("YNHC"), have on 25 January 2010, been served with a writ of summons and statement of claim by the Inland Revenue Board ("IRB") for back taxes for the year of assessment 1999 amounting to RM998,678.38. The IRB are further seeking penalties amounting to RM154,795.14 for late payment of the abovesaid taxes.
YNHC will be entering its appearance vide its solicitors, Messrs Raja, Darryl & Loh, to contest the abovesaid claims. In this connection, YNHC has previously appealed against the income tax assessment raised for the year of assessment 1999 and the Special Commissioners of IRB have set 1 and 2 November 2010 as the hearing dates.
This announcement is dated 25 January 2010. |
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