KUALA LUMPUR: Golden Plus Holdings Bhd’s (GPlus) unit, Yanfull (Shanghai) Co Ltd (YSCL), has received a special audit notification from the MinHang Tax Department Audit Bureau (MTDAB) in China.
With this, YSCL would have to reflect an additional Land Appreciation Tax (LAT) expense of 260 million yuan (RM139.5mil) in its financial statements for the year ending Dec 31, 2013, GPlus said in a filing with Bursa Malaysia. It added that this was “expected to cause major losses in the financial statements.”
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