CNMC plans to appeal against additional tax assessment of RM29.6 million imposed on Malaysian unit
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CNMC Goldmine's Malaysian unit faces an additional tax assessment and penalty totaling RM29.6 million for 2019-2024. The tax relates to disallowed management fee expenses. CNMC plans to appeal, arguing the fees are deductible under Malaysian law. The company believes the tax authority's basis is erroneous and has engaged tax solicitors for the appeal. The notices are not expected to impact CNMC's operations significantly. CNMC shares rose 1.9% to S$1.09.
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