02/03/2026

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Welcome boost as IRB accelerates refunds

SCIB reports RM54m revenue for Q6’25, marking close of

extended financial period PETALING JAYA: Industrialised building systems specialist Sarawak Consolidated Industries Bhd (SCIB) has announced consolidated results for the sixth quarter ended Dec 31, 2025 (Q6’25), marking the close of its extended 18-month financial period following a change of financial year-end. For Q6’25, the group recorded revenue of RM54 million, contributed mainly by the construction and EPCC (engineering, pro curement, construction and commissioning), and manufacturing segments. During the quarter, the group recognised impairment losses on trade and other receivables within the EPCC and manufacturing division as part of a prudent review and balance sheet strengthening exercise. The manufacturing segment, which has been classified as a discontinued operation following the conditional disposal agreement entered into with YTL Cement (Sarawak) Sdn Bhd, delivered RM36.02 million in revenue and profit before tax of RM1.14 million for quarter. Cumulatively, over the 18-month financial period from July 1 2024 to Dec 31 2025, the segment contributed RM182.06 million in revenue and RM14.56 million in profit before tax. Meanwhile, the construction and EPCC segment recorded RM17.87 million in revenue for Q6’25. For the 18-month period, the construction and EPCC segment generated RM93.34 million in revenue. For the 8-month financial period, the group posted cumulative revenue of RM276.19 million. During the financial period, SCIB entered into a conditional share sale and purchase agreement for the proposed disposal of its entire equity interest in SCIB Concrete Manufacturing Sdn Bhd or an indicative cash consideration of RM113 million, subject to adjustments. In conjunction with the proposed disposal, the group has classified the manufacturing business as a disposal group held for sale. Assets held for sale amounted to RM192.82 million as at Dec 31 2025.

I T WAS a bumper year for tax refunds in 2025, with the Inland Revenue Board (IRB) refunding RM22.45 billion in direct taxes. This will be a welcome boost for taxpayers who, until recently, had to wait patiently for overpaid taxes to be refunded in instalments over a period of up to four years, particularly corpo rate taxpayers. This reflects the improved economic condition of the country where growth in the fourth quarter of 2025 reached a record high of 6.3%, resulting in an annual gross domestic product growth of 5.2%. The improved economic situation has allowed the government to refund larger sums to taxpayers. In Parliament, it was explained that RM56 billion was refunded between 2023 and 2025, an amount 50% higher than the RM37 billion refunded during the period from 2020 to 2022. Meanwhile, the government has committed to settling all refunds up to the year 2024 by the end of 2026, To ensure refunds are made within the prescribed time frame, several admi nistrative measures have been introduced. These include prioritising refunds based on the age of outstanding cases using the First In, First-Out principle. Full settlement is generally accorded for excess tax payments relating to individual taxpayers. Priority is also given to MSMEs and companies facing cash flow constraints. How can taxpayers help themselves? It is learnt that IRB is unable to refund taxes to thousands of taxpayers mainly because

For individual taxpayers, adjustments to monthly tax deduction (MTD) may help ensure the correct amount of tax is deducted during the year. Applications to amend MTD must be submitted using Form PCB/TP1 to claim additional deductions or rebates. As a further step in the right direction, taxpayers could be allowed to set off excess tax paid against future tax instalment or CP500 payments. At present, however, IRB does not permit such set-offs, although this position may evolve. In the meantime, taxpayers may approach IRB to seek special dispensation to allow set-offs, supported by valid reasons such as cash flow constraints, temporary downturns in business cycles, or internal disputes affecting the company’s ability to settle taxes. In exceptional circumstances, IRB may consider allowing the set-off. Ideally, taxpayers should aim to pay the correct amount of tax. Where the final liability cannot be estimated accurately, it may be advisable to slightly underpay and settle the balance upon filing the tax return. Taxpayers are generally allowed to underestimate their tax by up to 30% of the final tax payable without incurring an underestimation penalty. This approach may be more efficient than overpaying taxes and losing out on the time value of money. While IRB does pay a tax free interest of 2% on refunds, such interest is calculated from 90 days after the date of e filing until the refund is paid. This article is contributed by Thannees Tax Consulting Services Sdn Bhd managing director SM Thanneermalai (www.thannees.com).

their personal details have not been updated. Common errors include missing or incorrect bank account details, or inaccurate particulars such as names, email and correspondence addresses and contact numbers. Taxpayers

should promptly update these details so refunds can be processed quickly and, if issues arise, IRB can contact them to resolve the problems. The board has allocated resources to locate such taxpayers and rectify the issues.

When will refunds be held back? In addition to the above discrepancies, refunds may also be withheld in situations such as ongoing court disputes, taxpayers having outstanding liabilities for other years, cases under audit or investigation, or where companies are being wound up or liquidated. The way forward The authorities should be commended for their commitment to ensuring that tax overpayment refunds are processed fairly, transparently and equitably while taking into account the interests of taxpayers. Several policy improvements have also been introduced to reduce excess tax payments. Legislative amendments now allow taxpayers to revise their tax estimates in the eleventh month, instead of being limited to revisions in the sixth month, ninth month or both. This enables taxpayers to align estimated tax payments more closely with their actual liability, thereby minimising excess payments.

Chin Hin achieves record revenue of RM4.07 billion in FY25 PETALING JAYA: Chin Hin Group Bhd delivered a strong and resilient performance for the fourth quarter and financial year ended Dec 31, 2025 (FY25), underpinned by disciplined execution, improved earnings com position and a significantly streng thened balance sheet. deliver sustainable growth and long term value to our stakeholders and the communities that we serve.” million in PBT and strategically important within the group’s inte grated ecosystem.

The group’s net debt was reduced by RM323.6 million, supported by a RM277.9 million improvement in operating cash flow to RM217.9 million and active capital recycling through strategic disposals. Cash and deposits increased 45.1% to RM565.5 million, while net gearing improved to 0.48 times from 0.80 times a year ago. The group’s RM80 million third autoclaved aerated cconcrete (AAC) plant in Serendah, Selangor, remains on track for commissioning by July. Upon completion, this facility will house the world’s largest single AAC production line, expanding total capacity to 2.2 million cubic metres annually and reinforcing Chin Hin’s leadership in industrialised and sustainable building solutions. Chin Hin enters FY26 with a stronger operational foundation and clearer execution focus. The group remains cautious amid ongoing cost pressures and macroeconomic uncertainty, but is well-positioned to capture demands across infrastructure, industrial development, residential construction, and downstream home solutions with a combined pipeline of RM5.29 billion; RM2.18 billion in unbilled property sales, RM1.81 billion in construction orders and RM1.28 billion in SIB’s backlog.

The property development division emerged as a key growth engine in FY25, delivering revenue of RM895 million (nearly four times the RM232.1 million recorded in FY24). It recorded a PBT of RM117 million, a RM130.8 million turnaround from the prior year’s loss of RM13.8 million, supported by progressive revenue recognition and steady construction progress across key projects, including Dawn, Ayanna, Andalan and Avantro. The construction engineering division recorded a steady performance with revenue rising 36.4% YoY to RM845.2 million and PBT growing 17.8% to RM22.3 million, supported by stable execution across a diversified order book. The home and living segment, led by Signature International Bhd (SIB) continued scale strongly. Revenue from kitchen systems, wardrobes and interior fit-out works increased 41.8% to RM967.4 million, supported by robust demand across residential and com mercial projects, stronger order fulfil ment and expanding regional capa bilities. While building materials revenue moderated by 4.4% to RM1.9 billion, largely due to the strategic exit from wire mesh manufacturing, the division remained profitable at RM134.1

For FY25, the group achieved a historic high in top-line performance, registering record revenue of RM4.07 billion, marking a 25.2% year-on-year (YoY) increase that saw it cross the RM4 billion threshold for the first time. Gross profit rose 47.3% to RM773.4 million, with gross margin expanding 2.9% to 19%, reflecting a better revenue mix and stronger contributions from property development, construction and home living segments. Profit before tax (PBT) grew 13.9% to RM314.2 million. Group managing director Datuk Wira Chiau Haw Choon said: “FY2025 demonstrated the strength of Chin Hin Group’s execution and financial discipline. Our focus translated into stronger earnings quality, improved cash generation and a meaningful reduction in gearing. While we continue to sharpen margins in building materials, the group now operates from a much stronger financial and operational base. With a robust pipeline and integrated IntraBuild ecosystem, we enter 2026 with confidence and we are well-positioned to continually

A rendition of Chin Hin’s Dawn KLCC. The company’s property development division emerged as a key growth engine in FY25. – CHIN HIN PIC