PETRONAS SHARES SOAR AFTER APPEAL DISMISSED

KUALA LUMPUR: Petronas-related shares soared yesterday after the Court of Appeal moved to dismiss the Sarawak state government and the Comptroller of State Sales Tax’s appeal against an earlier decision by the High Court. On Dec 10 last year, the High Court decided to grant leave for the national oil company to apply for a judicial review to quash the Notices of Assessment for about RM1.3 billion in State Sales Tax. According to Borneo Post, the Court of Appeal in Putrajaya dismissed the appeal against a High Court decision to grant leave for Petronas on Monday. The court then ordered Petronas’ judicial review to be heard at the High Court on a date to be fixed later. – Bernama