MAM
MPG Media Contacts wins Temasek’s global media biz
MUMBAI: Investment company Temasek Holdings has consolidated its global media mandate with French communications network Havas Media‘s media agency, MPG Media Contacts.
The agency currently handles the media duties for Temasek‘s portfolio company in Singapore – DBS Bank and will now handle media planning and buying duties for the company globally.
The incumbent agency on the global account is OMD.
The agency‘s experience on DBS business in particular and financial category in general turned the clients in MPG Media Contacts‘ favour.
Havas Media Singapore CEO Melvin Lim said, “We are elated to be given the opportunity to manage the strategic media services of Temasek Holdings and, by extension, to propagate the success of one of our globally renowned national wealth management organisations. We found a common ground to synergistically contribute to Temasek‘s marketing outreach goals because of the deep-set experience we already have in the financial and business sectors.”
Temasek was started in 1974 and is based in Singapore. The company is supported by 11 affiliates and offices in Asia and Latin America and owns S$ 198 billion portfolio as of 31 March 2012, concentrated principally in Singapore, Asia and growth markets.
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI: Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
