Primary tabs

KS Energy unit wins customs court appeal; to be refunded $20.3 mil

Jude Chan Published on Thu, Jul 13, 2017 / 7:01 PM GMT+8

A-

A+

SINGAPORE (July 13): KS Energy announced Thursday that a joint venture company of 80.09%-owned company KS Drilling will be refunded some $20.3 million paid in import duties and fines, after the Indonesian customs court last week accepted its appeal.

The Indonesia-based JV, PT Java Star Rig, was judged in February last year to have failed to comply with certain terms of the importation permit and customs duty exemption facility during the importation of a jack-up drilling rig.

The company had then paid the import duties and fines imposed, before filing an appeal at the Indonesian customs court. It is now due to recover the full amount paid.