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News & Blogs
  Jeffreyteck Sep results should be reversed positively, if give dividend, may temporary up. 21/10/2019 10:26 AM newbie2y anyone knows if U-mobile going to list next year? Magnum is still holding a 6% in U-mobile as of now right? 21/10/2019 12:44 PM IBestDividend https://www.theedgemarkets.com/article/u-mobile-huawei-sign-loi-5g-collaboration 22/10/2019 7:53 PM Jeffreyteck Waiting for U Mobile listing to breach 3 but may takes time. Dec results est +/-10% with final div est 5%. 27/11/2019 9:45 AM cmtfly The main shareholder of umobile is berjaya vt & its group, magnum is only having minority interest. Don't be too excited over the umobile ipo and special dividend is yet to confirm. 28/11/2019 10:33 AM cmtfly It's better to go for bjtoto than magnum. As compare between bjtoto & magnum, the wide difference of 10 over cents is enough to do a cross over now. VT is now restructured his bj empire to gain more control over bjtoto to reap the ultimate fruits from bjtoto businesses. 28/11/2019 10:42 AM Nepo It's Almighty! Taxed RM183 Million December 6, 2019 (Kuala Lumpur, 6th) Magnum (magnum, 3859, motherboard consumer stocks) has once again become the dead soul of the inland tax bureau's tax recovery! Magnum filed with the exchange, and the Revenue Authority stated that Multi-Purpose International (MPIL), Magnum's wholly-owned subsidiary in Labuan, owed a total of 182.8 million 467.46 ringgit in taxes from 2014 to 2018. In May 2017, Magnum's subsidiary, Magnum Holdings Pte Ltd, was fined by the Revenue Department for a total of RM47.47 million in fines and taxes. 06/12/2019 7:19 PM Nepo On 29 November 2019, Multi-Purpose International Limited ("MPIL"), a Labuan company which is wholly owned by Magnum Berhad (and which was set up pursuant to the Selective Capital Reduction ("SCR") exercise by Magnum Corporation Berhad), had received via e-mail notices of assessment for income tax dated 29 November 2019 for the years of assessment 2014, 2015, 2017 and 2018 amounting to RM40,361,327.82, RM40,378,374.75, RM38,755,291.78 and RM24,555,383.55 respectively. On 2 December 2019, MPIL received via e-mail the notice of assessment dated 29 November 2019 for the year of assessment 2016 amounting to RM38,754,296.16. The Inland Revenue Board ("IRB") now claims that MPIL should be taxed under the Income Tax Act 1967 instead of the Labuan Business Activity Tax Act 1990. Since its establishment, MPIL’s income including its interest income had been duly assessed under the Labuan Business Activity Tax Act 1990, a position which the IRB had never questioned in the past. Upon consulting its tax solicitors, the Board of Directors is of the view that there are reasonable grounds to challenge the validity of the said notices and the penalty imposed. This is especially given that the interest income which the IRB is seeking to subject to income tax had been disallowed as interest expense which were incurred for the same SCR exercise at the hand of the payer namely, Magnum Holdings Sdn. Bhd. and reflected as part of the settlement of previous tax audit conducted by the IRB on the Group in 2017. It is anticipated that there will not be an immediate financial impact on the Group as the Board is seeking to secure a stand over pending the resolution of this matter. This announcement is dated 6 December 2019 06/12/2019 7:25 PM Biker2b déjà vu 2017 - go to court then amicably reach mutual consent for settlement. 06/12/2019 7:57 PM JacLow In 2017 kena 47mil..price went to all time low 1.65. I wonder now 183 mil..price will go to where 07/12/2019 5:07 PM Biker2b @JacLow, that was the final settlement amount. initially IRB was asking for RM476.5 Mil 07/12/2019 6:48 PM AllanTingAS Luckily my queue price not match! Waiting for monday how market react on these bad news? 07/12/2019 11:00 PM Jeffreyteck Those companies with sudden substantial one off impairment, unable to submit accounts, highly suspicious accounts etc no stern actions taken. Those perform better always become the target but non performers were rewarded. That is how it works here. Anyway, volatility is always opportunities. Good luck everyone. 08/12/2019 9:58 AM Jeffreyteck TP temporarily revise down to 2.00_2.50 amid uncertainty of tax issues. 08/12/2019 10:00 AM JacLow n 2017 kena 470mil..price went to all time low 1.65. I wonder now 183 mil..price will go to where. Mean now will reduce 30 sen 08/12/2019 5:59 PM Fintec_PA Drop >10 sen give SD 5 sen(provided any) got use? Stock: [MAGNUM]: MAGNUM BHD Nov 27, 2019 11:09 PM | Report Abuse so got special dividen once umobile listed? 10/12/2019 7:29 AM cmtfly Umobile is belonged to berjaya and magnum has only a small shares, don't put high hope to give special dividend 10/12/2019 9:54 AM weh9168 Based on the recent report by research house the 6percent stake magnum has in u mobile is worth about RM 300million. Very unlikely Magnum will keep the 6percent stake 10/12/2019 6:53 PM  |
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