BSL to appeal against Customs demand

PETALING JAYA: Precision metal-stamping services provider BSL Corp Bhd said it will appeal to the director-general of Customs against the bills of demand issued by the Royal Malaysian Customs Selangor after the Ministry of Finance (MoF) rejected its subsidiary Crestronics (M) Sdn Bhd’s (CMSB) appeal on the remission of the import duty and sales tax totaling RM11.13 million.
“MoF has informed CMSB that its application of appeal against the bills of demand has not been approved. Furthermore, MoF had stated that its decision is final and further appeal will not be considered,” BSL said in a filing with the stock exchange yesterday.
In December 2014, BSL was slapped with the import duty and sales tax charges of RM6.49 million and RM4.64 million each for the period of December 2011 to July 2014.
“The board is unable to determine precisely the financial impact on the group for the financial year ending Aug 31, 2017 pending the appeal,” BSL said.
BSL’s share price declined 2 sen or 3.3% to close at 58 sen yesterday on some 2.39 million shares traded, giving it a market capitalisation of RM56.84 million.