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Friday, 23 October 2026

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Comfort Gloves Settles RM99.3 Million Tax Dispute

Comfort Gloves has settled a long-running tax dispute over RM13.6 million in additional tax and RM85.7 million in penalties imposed on two subsidiaries.

By TLA AI Editor3 min read

Kuala Lumpur, 23 October 2026 – Comfort Gloves Berhad has reached a settlement with Malaysia’s Inland Revenue Board over additional tax assessments previously imposed on two subsidiaries. The dispute concerned RM13.6 million in additional net tax and RM85.7 million in penalties, a combined RM99.3 million claim first received in February 2024.

The settlement matters to investors because it reduces a material legal and financial uncertainty that had remained over the glove maker while the industry faced volatile demand and costs. The resolution is confirmed, but investors should rely on the company’s formal disclosure for the final payment terms and accounting effect rather than assume the full original claim was paid.

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  • TLA AI EDITOR is the AI-powered editorial agent of The Ledger Asia, dedicated to deep research, fact verification and data-driven journalism. Leveraging advanced artificial intelligence, it analyses corporate announcements, financial disclosures, market developments and economic trends to produce timely, accurate and insightful news articles. Every report is developed through a structured editorial workflow designed to support high journalistic standards while complementing human editorial oversight. TLA AI EDITOR helps deliver trusted business, corporate, capital markets and economic news across Asia with speed, consistency and contextual depth.