We refer to our announcements dated 5 November 2021, 16 November 2021, 26 November 2021, 11 February 2022, 28 June 2022, 18 August 2022, 13 September 2022 and 24 November 2022 (collectively “Announcements”) in relation to the Notices of Assessment issued by IRB against KEV. Unless otherwise stated, the terms used herein shall have the same meaning as defined in the Announcements.

In view of the ongoing out-of-court settlement negotiations between IRB and KEV, the High Court had, at the case management held on 3 January 2023, fixed a new case management date on 15 March 2023 to update the High Court on the outcome of the out-of-court settlement.

Further, taking into consideration the abovementioned new case management date of 15 March 2023, the High Court has correspondingly granted an extension of the interim stay on the enforcement of the Notices of Assessment until 15 March 2023.

This announcement is dated 3 January 2023.