John Keells CG Auto (JKCG) has rejected allegations that it had prior knowledge of a temporary surcharge on imported motor vehicles before its announcement through Gazette Notification No. 2488/56 dated 15 May 2026.
In a statement issued on Friday (22), the company said claims that it opened Letters of Credit (LCs) for BYD vehicles immediately before the notification were false.
“JKCG categorically rejects this claim and states that the company had no prior knowledge of the surcharge,” it said, adding that no LCs were established for BYD vehicles on the day prior to the Gazette or at any point during May 2026.
The company clarified that its most recent orders for BYD vehicles were placed between March and 30 April 2026, and that no further LCs were opened after that period.
“JKCG, as a significant player in the motor vehicle market, places orders in the ordinary course of business on a regular basis,” the statement noted.
Reaffirming its position, the company said it remains committed to transparency, good governance and compliance with all applicable regulations while continuing to serve customers within the prevailing legal framework.