Chinese Laundry’s accounts allegedly seized over $34M BIR debt.
The accounts of the T&T Radio Network (TTRN), the parent company of radio stations 96.1 We FM, STAR 94.7 and 107.7 Music for Life owned by Anthony “Chinese Laundry” Chow Lin On, have been garnished by the State.
Guardian Media understands that Chow Lin On owes $34 million to the Board on Inland Revenue (BIR) for unpaid taxes. However, that sum is exclusive of interest on the debt for the period 2015-2024.
According to the BIR letter, the accounts were seized on April 25.
At a meeting called with all staff last Wednesday, Chow Lin On said he was hoping to have the matter resolved, by way of a payment plan to the State, by the end of the month.
He said the station’s business model was adversely affected by the COVID pandemic and had not sufficiently recovered. This was further compounded by the failure of advertising agencies to pay sums owed to the stations on time.
Guardian Media was told that staff, over 80 employees, have been asked to take pay cuts to continue the business until the matter can be resolved.
Chow Lin On did not return calls or messages on the matter and Guardian Media was told that he was out of the country since last Thursday.
Photo: Anthony Chow Lin On