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Mapletree Logistics ( (SG:M44U) ) just unveiled an announcement.
Mapletree Logistics Trust has disclosed a tax dispute involving its junior medium-term note investments in two Malaysian special purpose vehicles, Semangkuk Berhad and Semangkuk 2 Berhad. The Inland Revenue Board of Malaysia has issued notifications and additional assessments and penalties for the 2015 to 2021 assessment years, seeking about RM28.1 million, largely tied to tax on past interest payments to the trust and its subsidiary.
The manager, acting for the trust, has challenged the Malaysian tax authority’s position, arguing there are valid grounds based on prior tax advice that such interest should be exempt from withholding tax. While the Malaysia SPVs have secured an interim stay order and not paid the disputed sum, the manager has prudently made accounting provisions for the full amount, signalling potential earnings impact without immediate cash outflow as the case proceeds before the Malaysian courts.
The most recent analyst rating on (SG:M44U) stock is a Hold with a S$1.50 price target. To see the full list of analyst forecasts on Mapletree Logistics stock, see the SG:M44U Stock Forecast page.
More about Mapletree Logistics
Mapletree Logistics Trust is a Singapore-listed real estate investment trust that invests in and manages logistics properties across Asia. Its portfolio is structured through various subsidiaries and special purpose vehicles, and it actively uses capital markets instruments such as medium-term notes to finance and optimise its logistics-focused investments.
Average Trading Volume: 10,772,733
Technical Sentiment Signal: Hold
Current Market Cap: S$6.13B
For a thorough assessment of M44U stock, go to TipRanks’ Stock Analysis page.