KUALA LUMPUR: Synergy House Bhd
’s wholly owned subsidiary Synergy House Furniture Sdn Bhd (SHF) has received US$1.92mil (RM7.83mil) in tariff refunds, including interest, from the U.S. Customs and Border Protection (CBP)
In a filing with Bursa Malaysia, the furniture designer and exporter said the refunds stemmed from tariffs paid under the International Emergency Economic Powers Act (IEEPA).
It added that the refunds were made following recent U.S. court decisions and the subsequent implementation of the refund process by the CBP.
“The group estimates that approximately US$10,916.53 (RM44,457.57) of the balance IEEPA tariff refunds remain pending processing by CBP,” Synergy House said.
The company clarified that the refunds do not include tariffs paid under Section 122 of the Trade Act 1974, which took effect on Feb 24, 2026.
As of July 7, SHF had paid approximately US$37,531.50 (RM152,847.03) under the provision.
Synergy House said legal proceedings relating to the Section 122 tariffs are still ongoing before U.S. courts, and no refund has been recognised or received for those payments.
“The tariff refunds received arising from IEEPA is expected to have a positive impact on Synergy and its subsidiaries' cash flow.
“The financial impact on the group's earnings for the current financial year will depend on the accounting treatment of the refunded tariffs, taking into consideration the tariff portion embedded in the cost of inventories that have been sold and inventories that remain unsold.”
