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The latest announcement is out from XMH Holdings Ltd. ( (SG:BQF) ).
XMH Holdings Ltd. has announced that its Indonesian subsidiary, PT Xin Ming Hua Engine, received a tax assessment notice from the Indonesian tax authority for approximately IDR 143.9 billion, related to the financial year ending April 2024. This assessment includes corporate income tax on revenues from both PT XMH and its Singapore-based subsidiary’s direct sales to Indonesian customers. The company is appointing tax and legal advisors to address the issue and may file a formal objection. If the full amount is payable, it could significantly impact the group’s financial results for the current year.
More about XMH Holdings Ltd.
XMH Holdings Ltd., incorporated in Singapore, operates in the engine distribution industry, focusing on providing engine-related products and services. The company has a significant market presence in Indonesia through its wholly-owned subsidiary, PT Xin Ming Hua Engine, and also engages in direct sales to Indonesian customers via its Singapore-based subsidiary, Xin Ming Hua Pte Ltd.
Average Trading Volume: 88,089
Technical Sentiment Signal: Buy
Current Market Cap: S$194.1M
See more data about BQF stock on TipRanks’ Stock Analysis page.