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

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.

Not bad, RM 0.67 has formed a strong base.

Opportunities arise when they is a uncertainty.

If a biz is certain to make profit, then the PE will be normal (PE=12) or high.

The common phrase to say is high risk high return, low risk low return.

The most important aspect of all the consideration is that the biz prospects of the co must be good.

13、马云谈机会

如果一个方案有90%的人说“好”的话，我一定要把它扔到垃圾桶里去。

因为这么多人说好的方案，必然有很多人在做了，机会肯定不会是我们的了

Not bad, BDI=1568, up by 40 points.

Some of the Asiapac profit (about 50%) is from revaluation of Imago building, What if the economy is so bad that the value of Imago building revalue downward. In that case, the revaluation reserve need to write back, i.e the NTA will be revised downward also.

Watch out this counter, Price slowly move up.

Although I have no idea whether Salute mgt is trustworthy or not， I just follow Mr TTB (Icap BHD founder), I can trust TTB， Icap BHD bought in Salute. Although I can't guarantee I will make profit from Salute but at least the risk have been reduced because he has filtered it for me.

It depends. If it is a good company, u can buy in when the company is incurring loss. Because the loss result will force down the share price
U need to grab that opportunity and buy in when the price is low.

However, if it is a fxxk co, then avoid this type of co. Btw, many co fall into this category. ..

That is why the trustworthiness of the mgt is primarily impt.

human, tq for sharing.

Yes, it is difficult to predict the market price because the price is affected by market sentiment at that time, some more, there maybe some parties purposely press down the price so that unstable holders will be forced out from the market.

Imho, if the news is right and there is no lead time in this period， then prospect is good. At this moment, the price should reflect current ongoing QR (Oct to Dec 2019), instead of still focusing on the past QR (June to Sept 2019), that bad QR result imho has already reflected in the price.

Every investment does carry risk, but the one with the right and precise info will always be the winner in any trading.

Nice, BDI uptrend maybe same as palm oil, both Imo 2020 and biofuel B20 & B30 Will be kick off w.e.f 1 Jan 2020

It looks like the seller(s) has stopped selling, but NOT confirm, it still may need some time to confirm.

But, let say RM 0.67 is the price at the bottom, then it will put the situation in dilemma...potential buyers may feel that the price is NOT low enough .let see the next few days market reaction.

dropping because no prospect..

Anyone dares to buy in..?
it is not easy to predict the lowest possible entry point...
Only buy in when u think the price is worth to collect.
But the problem is whether the price will dip down to the price u want to buy.
so if the price reach its reasonable price, it is worth to buy

Wow! BDI=1426, up 75
If u believe IMO 2020 will boost up freight rate, just buy in, otherwise just stay aside.

Buying Asiapac is like buying a bare vacant land, you have to prepare to hold for a very long time.

10 years later when imago is valued at 2 billions,u will sure be rewarded.

@MingGoon, yes, we need to wait and see..

Massive force out volume today...

Relax guys...
I thought today will knock out almost all the unstable holders. Downrisk is limited unless special events happen..

Worry cleared

BTW, anyone buys in today?

Review of performance
(i) Revenue
Total revenue for the first quarter ended 30 September 2019 was RM32.3 million, a drop of
approximately RM24.4 million from RM56.7 million in the preceding year corresponding quarter.
This was primarily attributable to the lower sales volume from the current running products and
the new generation headsets. The forecast volume for the new generation headsets have increased but order fulfilment is constraint by material lead time.

The situation is expected to normalise in the next quarter.
=========
Material lead time is expected to normalise in the next quarter.

This QR profit is totally from operating profit, NOT revaluation.
Prospect look good,good job, Asiapac mgt.

Poor QR, probably loss RM 2 support...

Cash 300,209 +Other investment 40,531 - loan (69,412) = RM 271,328/219498 shares
= RM 1.236 per share.

'(Loss) / Profit Before Taxation (“(LBT)” / “PBT”)

The Group’s LBT for the first quarter ended 30 September 2019 was RM3.2 million, a decline of
RM6.2 million from PBT of RM3.0 million in the preceding year corresponding quarter.

There were several new project developments in the pipeline that have yet to generate revenue but
have already contributed to the significant costs increased in the current quarter.

Amongst others,
were spending on travelling, new production line setup, product development costs, hiring of new
indirect headcounts and increased fixed costs due to upfront capital investments totalling
approximately RM0.7 million. '
====================

1). New Production line setup
2). Product development costs
3). Increased fixed costs due to upfront capital investments

Based on the wording, without further detail, I would classify these 3 types of costs belongs to the new product(s) and should be capitalized if there is no sales on the NEW product(s) unless the NEW product(s) is NOT successful.

'Prospects
The Group together with its European design partner have set a clear technology roadmap to
embark on hearable devices with focus on micro-electronics encapsulation and miniaturisation. It
is important that the Group have set this strategic roadmap to ensure continuity in terms of
innovative product offerings to the market, highly capable resources and high end processes to
successfully adapt to the challenging development of miniaturised products that can incorporate
additional components for wider applications. In this regard, the Group have scouted critical
talents to help bring the products from development stage to mass production stage within the
shortest time possible.
In the meantime, the Group is diversifying into non-headsets products and broadening its customer
base.
The Group will continue to be mindful of its costs management and be prudent in its spending and
expansion plan.
Premised on the above, the Board is of the view that the Group’s prospect is favourable. '
===============================
The above prospects may support the share price to a certain extend.

Based on the recent marginal loss QR result, if sb is selling, he will loss the opportunity to tackle the probable profit in the next few QR. Even if he sells, potential buyers already standby to buy in as the potential is good.

In stock market those who have the precise insider information will take the advantages. Like in Salute, sb had the precise insider information so they could buy at the cheaper price in advance. Public in large will only can buy at 'median price', that is the reality...

I do agree @upsidedown that the cost for the future revenue need to be capitalized instead of w/o to Profit and Loss account, probably the management would like to show Sui Sui financial report in the next QE

Hopefully RM 0.80 is a firm supporting price...

RM 2 support, not confirm, will lose anytime...
Anyway @Ncm88, nice move.

SinCE sb is still selling severely but this stock is worthy to buy,

So I will using pyramid structure to buy in APM shares.
e.g 1 lot@RM2
2lots@RM1.9
3lots@RM1.8
4lots @RM 1.7

If QR(Sept 2019) good, EPF may stop selling and start buying..

If RM 2 lose, then new support needs to be determined..

Very exciting today, look like somebody (may be EPF) is throwing as many as possible and somebody is support at RM2 firmly...

@Lukey, I was wondering why the management didn't manage to capture the higher freight rate in that QR?

Pom pom Calvin forecast has gone into the drain.
Next will be NETX goes into the drain..

Bdi so high in that QR, why still making loss?

Supported very well, waiting for the impact from the space meteorite (QR).
Will it overcome that impact...?

Hahaha, @Ong, so good you have described

I see, here is the reason why Malaysia is cheaper then Indo CPO. Because Malaysia offer US 5 discount.


https://app.sinchew.com.my/amucsite//pad/index.html#/detail/2146893/2015

I will look it at different perspective, as long as the prospect (as claimed in Aminvest report is real, NOT bluffing) is good, even though the coming QR result is normal/small losses, the share price will be sustainable at least at RM 0.80, i.e. IPO price.

Look it at another angle, if the prospect is NOT good, the share price won't surge from RM 0.30, all the way up to RM 0.865 (including correction) without any solid reasons. The investors/operators may have some insider info, it won't push up the price from scratch.

Judging from the volume buying from the rock bottom RM 0.30，plus and minus from surging and correction, they still have huge chunk of lots in their hands, if price go down after QR, they won't make any profit or perhaps loss making.

I will hold the shares.

But this is my opinion, in stock market, anything can happen.

very informative here, I often enjoy reading naysayers comments,
Keep it up.

Border line RM 2, will it lose RM 2 support today?

yes, EPF already ceased to be substantial S/H,but it still has about 10 millions shares in hand. It will sell anytime when there is a bad news. Of course, it will also buy more.

The only thing we don't know is when EPF is buying or selling, just guessing, when the price down couple with huge volume, then assumption is EPF is selling..

I hope bad QR, because bad QR, EPF will sell, then u can collect at lower price, probably below RM2.
The only time u collect good counter is when it produces bad results. But that is temporary, long-term it will return to its normal track and u earn by buying when it is dipped down.

The best part is that the directors have stopped selling the shares to the public, this is contrary to last year financial year ended. At that time before the co made QR (losses) annoucement to the public, the directors SOLD the shares in ADVANCE

Yes, can start accumulating APM, very low risk already, yesterday started buying in.

Even ICAP Bhd hold APM 4,431,300 shares @ RM 3.84 per share.

Look at any angles, it is a very worthy stock to collect, Not many shares have this this fundamental and yet have a very attractive price, if I can buy around RM 2 is already a bonus, Some more based on past records, it is has a very trustworthy management, don't miss this CHANCE.

If price drop, buy more, in anyway it won't drop below RM 1.50 unless incurred a huge loss but it is less likely to happen because the co has been in a stable situation for a long time already and has established firm business arms over the years.

If i am not mistaken, the company is the market leader in the field they engaged.

Din don din don at RM 0.80 IPO price till QR out
Fresh start Salute starting from RM 0.80, may the share price pattern same as the year when Salute listing?

@Titan "APM volume is super low. After reading suntze comment, i think i do agree with her or is it a him. But for me, I would look at APM differently. It will not be a growth or explosive stock but i think it will be a stable and valued stock. Why?.....my reasoning as below

1. It is a net cash company. The cash alone is RM1.50 per lot
"The Group’s financial position remains relatively healthy with a net cash position (=cash and cash equivalent + 'other investment' – bank borrowing) of RM296.3 million."
______________________________________________________________________________

Just wondering what is inside the 'other investment'? Is it invest in listed companies in Bursa Malaysia? It is NOT stated clearly in the Annual Report 2018.

Company prospect will also reflect in the price for anticipation of better profit in future.
If the Aminvest report is right, then my take is that the downside risk (share price) is limited.

lcng123 Malaysia CPO price RM2,573 and Indonesia CPO USD650 (around RM2,700)
12/11/2019 9:48 AM

I was wondering why Indonesia CPO price is higher than Malaysia CPO price. Could u explain why?

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