Analysts view Hibiscus positively as Sabah sales tax issue r

Analysts view Hibiscus positively as Sabah sales tax issue resolved

KUALA LUMPUR (Oct 5): Hibiscus, which had previously questioned the imposition of state sales tax (SST) on its two units operating in Sabah, has proceeded to pay the tax amounting to RM85.7 million. The SST was imposed on revenues from petroleum products sold by SEA Hibiscus Sdn Bhd under the North Sabah production sharing contract (PSC) and Hibiscus Oil & Gas Malaysia Ltd (previously known as Repsol Oil & Gas Malaysia Ltd) under the 2012 Kinabalu Oil PSC.

Related Keywords

Kinabalu , Sabah , Malaysia , Kuala Lumpur , Sdn Bhd , Hibiscus Petroleum Bhd , Kinabalu Oil , Hibiscus Oil Gas Malaysia Ltd , Repsol Oil Gas Malaysia Ltd , Hong Leong Investment Bank Research , Publicinvest Research , North Sabah , Hibiscus Oil , Gas Malaysia Ltd , Repsol Oil , Leong Investment Bank Research , Bursa Malaysia ,

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