Tan Chong Motor Assemblies slapped with RM180.11 million bill for excise duties by customs department

In a filing with Bursa Malaysia, Tan Chong Motor Holdings says that its subsidiary Tan Chong Motor Assemblies (TCMA) has been served with bills of demand amounting to RM180.11 million for excise duties by the Royal Malaysian Customs Department (RMCD), as The Edge reports. The claims for the duties are for the period from November 1, 2016 to October 31, 2019.

It its filing, the company said that “TCMA does not admit to any liability on the demands made by the RMCD and will take the appropriate measures upon seeking further advice on the matter.” It added that it will update on any material developments on the matter from time to time.

TCMA is the automotive group’s manufacturing subsidiary. It began operations in 1976 at its Segambut plant in Kuala Lumput, later expanding production at a new facility in Serendah, Selangor. The company also maintains assembly plants in Da Nang, Vietnam and Yangon, Myanmar.

The subsidiary has produced more than a million passenger and commercial vehicles for Nissan, Renault, Subaru, Mitsubishi, UD Trucks, Foto and Bison trucks.

The post Tan Chong Motor Assemblies slapped with RM180.11 million bill for excise duties by customs department appeared first on Paul Tan's Automotive News.



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