Sime Darby to contest RM150.18 million tax assessment

Sime Darby Holdings Bhd said it will mount a legal challenge against tax assessments totalling RM150.18 million, asserting that it possesses valid grounds to contest the matter. The move represents the company's formal response to the tax demands, which the diversified conglomerate believes are contestable under applicable tax law.

The company's decision to pursue an appeal underscores its confidence in its fiscal compliance and accounting positions. Sime Darby indicated that it has thoroughly reviewed the assessments and determined that proceeding through the appeals process is the appropriate course of action.

The conglomerate, which operates across plantation, property, automotive and industrial sectors, did not disclose specific details regarding the nature of the tax assessments or the grounds for its challenge. The appeal process will determine whether the tax authority's determinations will be upheld or modified following review.