Bursa Announcement

We refer to our announcement dated 1 August 2025 regarding the notices of assessment dated 31 July 2025 ("Notices") issued by the Inland Revenue Board of Malaysia ("IRB") for the years of assessment 2020, 2021, 2022 and 2023, amounting to RM6,746,412.30, RM10,998,368.64, RM12,671,920.51 and RM13,799,505.79, respectively. BPHB has appointed Messrs. Shearn Delamore & Co as its legal counsel to represent the Company in this matter.
 

Pursuant to the Judicial Review application filed on 15 August 2025, the High Court of Kuala Lumpur ("Court") fixed the hearing for the leave application on 28 August 2025. On the said date, the Court granted BPHB leave to proceed with the Judicial Review and granted an interim stay of proceedings until the next hearing date on 25 September 2025 ("Interim Stay"). Accordingly, during the Interim Stay period, BPHB is not required to remit the disputed taxes and penalties totalling approximately RM44.2 million to the IRB.

On 25 September 2025, the hearing was converted to Case Management to allow BPHB to file an affidavit in reply to the IRB's affidavit. The Court issued the following directions:

(a) BPHB is to file and serve its affidavit in reply (in relation to the stay application) by 6 October 2025; and

(b) the hearing for the Inter Partes stay application is fixed for 20 November 2025.

The Interim Stay granted on 28 August 2025 shall remain in effect until the Inter Partes stay application is heard and a decision is rendered by the Court. As such, BPHB is not required to settle the disputed tax assessments and penalties amounting to RM44.2 million until further order of the Court.

This announcement is dated 7 October 2025.