Sime Darby subsidiary to challenge IRB tax assessments in court

Sime Darby Bhd announced that its subsidiary, Sime Darby Holdings Bhd, intends to appeal tax assessments covering the years 2017 to 2023. The Inland Revenue Board issued the notices on September 30, 2026, asserting that interest income from the subsidiary's treasury operations falls under taxable income per Section 4(c) of the Income Tax Act 1967. Sime Darby Holdings has a 30-day period to lodge an appeal and, after seeking advice from tax and legal counsel, asserts it possesses valid legal arguments to dispute the assessments.

The company said it will pursue the appeal and may commence legal proceedings to challenge the basis of the IRB's notices. Further updates will be provided if material developments occur.