UEM Sunrise to file appeal over RM74 mil additional tax and penalty paid to IRB

• On Oct 3, 2011, UEM Sunrise's indirect wholly owned subsidiary Bandar Nusajaya Development Sdn Bhd had received a notice of additional assessment from the IRB for additional tax and penalty for the year of assessment 2006, which resulted in an additional tax payable of RM73.84 million.

KUALA LUMPUR (June 28): Property developer UEM Sunrise Bhd said it will file an appeal with the High Court here after the Special Commissioners of Income Tax ruled in favour of the Inland Revenue Board (IRB) that the additional tax and penalty totalling RM73.84 million are to be maintained.

On Oct 3, 2011, UEM Sunrise's indirect wholly owned subsidiary Bandar Nusajaya Development Sdn Bhd had received a notice of additional assessment from the IRB for additional tax and penalty for the year of assessment 2006, which resulted in an additional tax payable of RM73.84 million.

In a filing with Bursa Malaysia on Friday, UEM Sunrise said the amount was paid on Dec 5, 2016.

"Further announcement will be made as and when there are material developments on the matter," it added.

In a separate statement, UEM Sunrise announced the appointment of Emily Teh as its new chief marketing officer effective April 15. Teh brings with her over 25 years of experience in various sectors including retail, real estate, and commercial asset management.

"Her diverse background, ranging from frontline sales to property development, positions her uniquely to lead UEM Sunrise’s marketing strategies and execution of the company’s strategic turnaround plan," it added.

"We are delighted to welcome Emily [Teh] to the UEM Sunrise’s team. Her expertise will be instrumental in advancing our marketing objectives and further strengthening our brand position in the industry,” UEM Sunrise chief executive officer Sufian Abdullah said.

“Her contribution is crucial to our transformation journey focusing on customer centricity, operational excellence and high growth culture, all of which are pivotal in engaging our customer better through a robust sales and marketing plan," he added.

UEM Sunrise shares closed up three sen or 2.86% at RM1.08 on Friday, giving it a market capitalisation of RM5.46 billion. Its share price has risen 28.57% so far this year.

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