Just to share:
Hibis has to pay Petroleum Income Tax Act : 38%
Sabah State Sales Tax : 5% (If Hibis lose the case)
So total 43% tax on petroleum revenue? If oil price is USD100, then still can survive, when oil price drop to USD 60 or lower, is there still any profit left?

If oil price more than USD 100.. should be no problem paying 6% sales tax.
If oil price drop to USD40..how to pay 6% tax when its probably not making any money?

The worst case is the Sabah issue prolonged and have to resolve in court..

Dear SsLee,
There is one thing that I wish you can get clarification from Bursa. In the AGM the directors mentioned a deal with 新华书店, the largest book retail chain in china, to sell the stationery in the stores. However the deal was turned down by Bursa, can you use your contact to find out if there is such case and why it was disapproved.