21 May 2004
|
Type |
Announcement |
| Subject | NOTICE OF DEMAND PURSUANT TO SECTION 218 OF THE COMPANIES ACT, 1965 BY LEMBAGA HASIL DALAM NEGERI |
By the said Notice, LHDN is seeking the sum of RM5,245,421.33 which it claims under a court judgment dated 13 January 2004 (“Sum”) obtained by the Government of Malaysia vide Kuala Lumpur High Court Civil Suit No. S1-21-2003 (“Judgment”) and to be paid within 21 days of the receipt of the said Notice failing which it would be deemed that Rego is unable to pay its debts and winding-up proceedings would be commenced against Rego.
Rego through its tax consultant has disputed liability for the alleged tax assessed which the LHDN claims as tax payable for the assessment years of 1986 until 2000 (Current Year Basis).
Rego is seeking professional advice and proposes to resist the LHDN’s claim.