xiaochen

YTL Power Investments Ltd.'s application seeking capital gains tax relief from the Australian government failed to raise a proper argument for the court to consider and would stand little chance of succeeding, according to the order granting the government's request to dismiss the case.

5 days ago

xiaochen

Malaysian Co. Loses Australian Capital Gains Tax Relief

不能看此报道的详细内容，只能看部分内容，因为需要付费才能看详细内容。

很可能是上个星期股价被拉升的原因吧。

5 days ago

xiaochen

看来应该被课了不少的税。

5 days ago

dragon328

@xiaochen, was the application for capital gain tax relief related to the disposal of Electranet in Australia?

5 days ago

xiaochen

Big possibility yes. But im not sure about it, because the news is restricted for me to read the remaining contain. That's all the info i can read. Sayang the application is failed.

5 days ago

Alwinb

From the 3rd quarter fye 2022 cash flow, YTL Power only recognised 1.9 bil, which included 1.2 bil (i/o 2.2 bil) profit from Electranet disposal. Difference could be due to Capital Gain Tax

5 days ago

xiaochen

Law360 (March 24, 2023, 4:29 PM EDT) -- A Malaysian company was denied tax relief on the sale of its stake in an Australian power transmission operator because its challenge was improper and unlikely to succeed, the Federal Court of Australia ruled Friday.

4 days ago

kcwong98

Annual Report @ 30/6/2022 page 214 disposal of Australia’s ElectraNet
Note 15
(b) Investment in associates (continued)
(i) Divestment of an associate

On 23 March 2022, YTL Power Investments Limited, an indirect wholly-owned subsidiary of the Company disposed of its 33.5% interest in ElectraNet Pty. Ltd. for a cash consideration of RM3.222 billion (AUD1.024 billion) resulting a gain on disposal of RM1.272 billion.

The disposal had the following effects to the financial position of the Group for the financial year:

RM'000
Sales consideration net of transaction costs. 2,196,575
Less: Carrying amount of loan notes (230,007)
Consideration received. 1,966,568
Less: Net assets disposed.(665,198)
Gain on disposal before reclassification of other comprehensive income items 1,301,370
Reclassification of hedging reserve (38,452)
Reclassification of currency translation reserves 9,341
Gain on disposal 1,272,259

4 days ago

kcwong98

Can anyone explain: Transaction costs of RM1B inclusive of provision of tax, commission, legal, advisory consultation and facilitation fees?

4 days ago

Alwinb

My guess is CGT was imputed into the transaction. As per the circular, the profit from Electranet disposal is 2.2 Bil.

4 days ago

Alwinb

There Federal court ruling has not material impact to YTL power bottom line else there would be announced in Bursa

4 days ago

hng33

Upon completion of the disposal, the group will recognise a gain of RM2.21 billion, based on the carrying value of the investment as at June 30, 2021.....
https://www.theedgemarkets.com/article/ytl-power-dispose-entire-stake-australias-electranet-rm3-bil

YTLP indicate the disposal realize net gain RM 2.2 billion, but in actual only RM 1.2 billion recorded which is due to Austrialia impose 50% capital gain tax on YTLP disposal gain last year. YTLP is seeking to waive capital gain tax due to the electranet stake is long term investment, but, unsuccessful.

If appeal granted, YTLP will able to recoup back RM 1 billion from last year transaction already

4 days ago

kcwong98

Can i inteprete this way:

Probably the tax is 30%. YTL Power failed to get the 50% capital gain (discount) tax relief.

4 days ago

dragon328

I think what hng33 interpreted above is probably right. That might be the reason why YTLP only got back RM1.966 billion of sales proceeds immediately after the sale at RM3 billion.

The shortfall of RM1.0 billion was most likely due to provisions for this capital gain tax and some other transaction costs.

In any event, I see this court decision as a temporary setback to YTLP, and I see scope for further appeal. I bear the same thinking that the investment in Electranet was a long term investment of >20 years and should not be subject to this capital gain tax.

If YTLP appealled further and won the case, then it would be a bonus of getting few hundred millions of ringgit back, if it does not appeal further or lose the case, then it is case closed and will not affect its operations in any way. YTLP will still be in net cash position at holding level and have all sufficient cash to proceed with all projects in hand like the green data centre projects, Jordan power plant, potential power export to Singapore etc.

4 days ago

ChloeTai

Everyday also sleeping, moving sideway. So boring.

4 days ago

kcwong98

Thank you so much

4 days ago

ChloeTai

How nice if the kaki goreng choose the energy industry to be goreng, just like what they did to the glove counters. One day show also good enough already.

4 days ago

hng33

:D)

3 days ago

hng33

need more breakout momentum and sustain above 90sen

3 days ago

hng33

EPF is buying, next resistance level st 95sen

3 days ago

myloh123

Upside 20sen...dun sell till reached 109sen...oil price drop is good for utilities

3 days ago

xiaochen

knock knock on 90c...

3 days ago

curiousq

curiousq
Bot a little C23, if higher than 0.85 by 31Jul, gain ..... if less than 0.70, all cap gone
```````````````````````````````````````````````````````````
sold C23 and earn some money ..... be careful the market maker, it is unfair to buyers, when YTLPW=0.85, C23 sold @0.15, no premium ..... when YTLPW=0.90, C23 =0.175, discount 2.5sen ..... CIMB is a dishonest bank

3 days ago

curiousq

If I buy the mother share I will buy more, bcos it will not lapse but can enjoy div.
I will earn more if I have bot the mother share, those thinking to buy CW issued CIMB, beware !!

3 days ago

curiousq

many transactions are done between themselves, when the mother share was 0.895/0.900, can only sold at 0.175 (highest price done), after I sold, the mother share was 0.885/0.890 (go lower), then they made the price 0.18 ......

3 days ago

curiousq

They are not using a warrant pricing model to fix the price, but base on whether their clients are still holding/sold their holding ...... CIMB is a dishonest bank, beware !!!

3 days ago

dragon328

UK mortgage approvals rose more than forecast in February, adding to signs that the housing market is starting to stabilize. Lenders approved 43,500 home loans in Feb compared to 39,600 in January. It was the first increase since August and more than the 41,300 predicted by economists.

This is good news for YTLPower who is sitting on a large prime land in Bath awaiting signals for property development. Further good news is that UK pounds sterling is one of the best performing currencies in past 6 months with 14% gain against the US dollars vs 12.5% gain for the euros.

2 days ago

nelsonlim

This ytlpowr stop doing the things ady?

2 days ago

jeffchan1901

wah this stock really got power.. @0.91 +35.8% .... go go go...

2 days ago

Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥

Security LastPr PE DY% Divcts ROE ttm-marg
YTLPOWR (Gas, Water & Multi-utilities) 0.905 4.69 5 4.5 11.03 8.5

2 days ago

dragon328

There were some unusual off-market transactions on YTL Power in past one week:
23 Mar - 6 million at 0.89
24 Mar - 24 million at 0.86
29 Mar - 30 million at 0.86

Looks like a fund has accumulated these 60 million shares at a good time

I am looking at 2019 high of RM1.08 as next resistance level

2 days ago

UnicornP

Worth 1.30

2 days ago

nelsonlim

Ytlpower rly stop doing the thing

1 day ago

jeffchan1901

0.95, niceeeee.....

1 day ago

hng33

locked profit at 94.5sen

1 day ago

hng33

swap all to add more YTL at 60sen

1 day ago

goody99

Better stick with YTLPOWR. If people are still doubtful, the off-market transactions and the buying of EPF should provide enough confidence!

1 day ago

jeffchan1901

lol.... lock profit so fast? maybe most bought at high price..... if you want to see whether this stock is worth keeping, see whether the directors buy back or not... since 2022 can see they buy back and obviously EPF collecting now in anticipation of +ve June QR. if you sell now, no guarantee you can buy back low in future. soo...... please continue to sell and lock in profits, let EPF make tons of profit so we can all continue to have high returns next year... TQ

1 day ago

jeffchan1901

@hg33 how to add more at 0.60? lowest is 0.63 since borders reopened. that also when trade and commerce just restarted. now most economies in full swing and power consumption for manufacturing and business already almost in full swing, you sure earnings will be worst than before? I doubt it. with sale of electricity to SG and earning in SGD will be good profits. also dont forget when time comes for YTLP to dispose of SG assets another possible BIG Windfall..!!

1 day ago

myloh123

Wah...im oso tempted to take profits...i bght some at 66.5 ...38 % returns...mind boggling...been paying 6% since i bght...love this stock

1 day ago

myloh123

I think ytl mother wun move as fast as ytl power...ytl power is d gem stock...cash cow

1 day ago

jeffchan1901

@myloh123, my entry at 0.67... looking forward to enjoying my 6.7% DY and also the BIG windfall when they sell off the assets in future ;-)

1 day ago

goody99

next time I will try C22

1 day ago

dragon328

wow myloh123, your entry cost is so low, so good. Mine was around 0.70 holding till now

1 day ago

jeffchan1901

did you guys see trade at 4.53pm? big sharks park buy at between 0.905-0.91-0.915 and sell between 0.94-0.945-0.95 trapped if u want day trade and cannot escape quickly the jaws of death.... sharks park volume 998 / 997 lots for each band. nice....

1 day ago

frankkoh

I bought mine in Dec-2021@0.615. Still waiting it to move above RM1

1 day ago

myloh123

Frankkoh, u must b averaging down like me...hahaha

1 day ago

goody99

I understand most web sites states that the EPS of 3QFY22 is 12.47 sen but that includes the disposal gain on ElectraNet. Does anyone know the EPS of 3QFY22 excluding the disposal gain on ElectraNet? Is it true that it is 0.1 sen?

14 hours ago

dragon328

@goody99, YTLP made a core pretax profit of RM12.8 million in 3QFY2022, after stripping off exceptional items of RM1.3 billion for disposal gain on Electranet, RM290 million allowances for impairments, RM81 million fair value loss on investments and RM19 million forex loss.

5 hours ago

dragon328

This figure of RM12.8 million pretax profit may vary from an analyst to another as there were a few exceptional items and various provisions. Important to note from this quarter was the doubling of profit contribution from PowerSeraya from 3Q2021, which more than offset the weakened profits from Wessex. The overall result was weighed down by the bigger than expected losses from the mobile broadband division and some losses at holding level.

5 hours ago