Eversendai Berhad’s wholly owned subsidiary Eversendai Engineering Sdn. Bhd. which the group said is a major subsidiary, was slapped with a winding-up petition back in 13 February 2024 from Malaysia’s Inland Revenue Board on 21 February 2024.
In a Bursa filing the group said IRB was claiming a sum of RM1,969,918.23 being outstanding tax liabilities plus interest of 5% and cost. The tax department claimed that Eversendai Engineering had purportedly failed to pay the outstanding tax liabilities.
The group said the cost of investment in Eversendai Engineering has been fully impaired previously and that save for the amount claimed, the winding-up petition is not expected to have other financial and operational impact/losses to the Group.
By updating Bursa on the matter, the group said the outstanding tax liabilities has been fully satisfied on 12 March 2024 and EESB is now following up with LHDN to withdraw the winding-up petition.
It said the delay in announcement is due to miscommunication between the personnel in the subsidiary company and the holding company. The senior Management of Eversendai said it is now working to improve the communication channels.
