Good NEWS, Mahathir last night announcement said will reimbursed the business who is been abused with LHDN. Good chance Monday Magnum price will sky rocket.
LGE is the new Finance Minister. And Ministry of Finance regulates gaming licenses. Now amendment to the outdated gaming act is possible. Also the chance to allow online betting on 4D is possible.
Just watched Mahathir live session on "sesi penerang khas kerajaan baru" which he repeated states the priority of the new govt is to focus on business friendliness. And also stop all unreasonable claims of income tax from the IRB on companies. So this is a positive development for Magnum on its case with IRB. Which is utterly and totally unreasonable tax claim from the IRB. High chance that IRB will withdraw back it's claim or the court will side with Magnum.
Taxes collected 'illegally' in BN's time will be returned, promises Dr M Prime Minister Dr Mahathir Mohamad said Putrajaya will try and return taxes collected "illegally" from individuals and businesses.
"We were aware that during the previous regime, people were pressured in the wrong way.
"For example, many were forced to pay more taxes than what is determined by the law.
"We want to know who were the people who were forced to pay such taxes, and how much they were forced to pay, and we will try and replace the money that was illegally collected," he said in an interview with state television network RTM1.
Mahathir said prior to this, there were those who were forced by the Internal Revenue Board (IRB) to cough out more taxes than were due.
"If they did not pay, they were punished and blacklisted, preventing them from leaving the country.
“Some had their passports revoked and their account books confiscated, which disrupted their businesses.
"We do not want to disrupt businesses," he said.
In the last two years, the IRB had embarked on an aggressive tax collection spree due to the country's falling revenue as a result of lower oil prices.
Tan Sri Vincent Tan and Datuk Surin Upatkoon go back a long way as business partners or associates. “We’ve worked together since the 1980s,” Surin tells The Edge.
Their paths crossed when they both had interests in the textile manufacturing industry. Surin controls MWE Holdings Bhd which still has textile operations while Tan controlled South Pacific Textile Industries Bhd via his Berjaya group.
“There was a lot of cooperation between us. We exchanged information on the industry and bought raw materials together,” says Surin. The joint purchase of raw materials gave them discounts for bulk purchases.
“We’re friends and the U Mobile deal is a friendly one, but it’s also at arm’s length. I see value in it,” says Surin.
Can we safely add back RM477,096,000 (alleged tax liability) to share price to get fair valuation? And will there be any special dividend? This is as Q1 2017 dividend was not paid.
true. reintroducing short selling in Malaysia is great for hedging and for speculation. maybe you can explain how a semi or by large property development company like TA with investment branch is going to win over the entire gambling aunty uncle ah boy customers from Genting, Magnum, 4D, Bj Toto and others besides being able to win over large banks like CIMB & Maybank now that they may all be given a fair chance at competing for investment products under new government, and perhaps discuss this further under TA forum.
Magnum is a cash business created under our current new PM's time that offers high dividend. dont forget U-mobile stake owned by Magnum Bhd to be listed in the nearby future.
Perhaps like BJToto forumers are speculating, MAYBE our new finance minister might even allow some leeway for Magnum to offer online gaming.
Many customer that play Online illegal gaming. These illegal businesses dont pay tax to government and is difficult to curb and if given choice, customers will probably go after trusted gaming companies like Magnum etc for online gaming if allowed to expand in Msy.
4sens dividend announced! Magnum must be going back to high dividend stocks group. As previously mentioned, Magnum is a cash biz. RM79.9mil profit this quarter after GST. What happens when no GST plus petrol subsidy etc etc. Lots of stories this year for number gamers to try their luck.
Not sustainable only if paying out dividend more than earning on every quarters. Dividend for this quarter is partly making up temporary suspension of dividend payout in Q1 last year.
For both 2016 and 2017 total earnings per share (EPS) for that year exceeded dividend per share (DPS) by RM0.41 per share. For year 2017 total EPS exceeded DPS by RM3.52 per share. Anyhow, for a cash rich and cash based business that need very little money to expand, giving cash back to their owners(shareholders) is right. If you don't like money then I don't know what to say. 6-8% dividend..
Business friendly government will able to get higher income from taxes. New govt should accelerate the amendment of Gaming Act to allow online betting for legal NFOs. MoF should table this amendment soonest at 1st parliment sitting in June.
Illegal gambling has been around since my grandmother time la. Don't worry about that. You cannot kill it. Just make online buying 4D happen to make it more convenient for people to buy legal ones.
Illegal gambling won't kill the legal 4D la. If it's possible, then Genting would have died along time ago. Located on the mountain still aunties from all over the country still want to pau taxi to go up. Why not gamble in the illegal gambling dents in their hometown.
Also like in Australia, the prostitution is legalized, but illegal brothels also all over the place also cannot kill off the legal brothels what. Just focus on growing the business, that's it. 05/06/2018 16:24
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 3111 views | 3 d ago
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New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
weyaw
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Posted by weyaw > 2018-05-11 11:12 | Report Abuse
Good NEWS, Mahathir last night announcement said will reimbursed the business who is been abused with LHDN. Good chance Monday Magnum price will sky rocket.