Brief: KS Energy updates on appeal filed by PT Java Star Rig

KS Energy

13/07/2017 11:39

July 13 (Reuters) - KS Energy Ltd  KSTL.SI : 
    * Indonesian Customs Court had on 4 July 2017 issued its 
decision in writing accepting appeal filed by PT Java Star Rig 
    * Expects that recovery of import duty & fines will have 
positive impact on net result for full year ending 31 December 
2017 
    * PT Java Star Rig is due to recover full amount of import 
duty and fines paid totalling approximately S$20.3 million 
    * Group expects that recovery of import duty and fines will 
have a positive impact on net result for full year ending 31 
December 2017 
    * Indonesian Customs Court found that importation of rig was 
in accordance with terms of permit and is therefore exempted 
from import duty 
    * Refers to PT Java Star Rig receipt of a notice from 
Ministry Of Finance Of Republic Of Indonesia -Directorate 
General Customs And Excise 
 
Source text for Eikon:  ID:nSNZ5W29TQ  
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