We refer to the announcement dated 26 May 2026 in relation to the above matter.
As disclosed in the previous announcement, on 25 May 2026, Titijaya Land Berhad's ("TLB") wholly-owned subsidiary, Shah Alam City Centre Sdn. Bhd. ("SACC") was served with Notice of Additional Assessment for Year of Assessment 2024 totalling RM9,596,316.04 inclusive of penalties. The additional assessment resulted from the income tax audit carried out by the Inland Revenue Board of Malaysia ("IRB") and the subject matter in dispute was the statutory compensation monies received in December 2023 under the Land Acquisition Act 1960. Subsequently, on 17 June 2026, SACC filed a judicial review application at the Shah Alam High Court, seeking, among others, an order of Certiorari to quash the IRB's decision and a stay of enforcement. On 23 June 2026, SACC also appealed against the additional assessment by filing Form Q to the IRB.
At a case management before the High Court on 23 June 2026, SACC obtained an interim stay order effective until 14 July 2026. During the case management, the Attorney General's Chambers ("AGC") informed the High Court of its intention to object to SACC's application for leave. Accordingly, the High Court directed the AGC to file its submissions in support of its objection to SACC's leave application by 7 July 2026. The High Court subsequently fixed the matter for further hearing on 14 July 2026.
On 14 July 2026, the High Court granted leave for judicial review. The ad interim stay order was also extended by the same court pending the inter-partes hearing of the stay application which is fixed on 1 October 2026.
The Applicant was represented by Abhilaash Subramaniam as lead counsel, alongside Iman Johar, Yong Siong Yaw and Luqmanur Diyana of Messrs Johar Athari & Co.
TLB remains committed to being a responsible taxpayer and will continue to engage constructively with the IRB to resolve this matter amicably and expeditiously. The Board of Directors of TLB is of the view that since the taxability of compensation monies is a vital point of law, the judicial review application will provide necessary clarity on the tax and financial position of SACC.
The Company will make further announcements as and when there are material developments pertaining to this matter.
This Announcement is dated 15 July 2026.