Friday, May 15, 2015

依海控股25亿建江城 登加河变身旅游景点



(新山15日讯)依海控股(IWH)今日推介全新“江城@登加”计划(The River City@Danga Bay),势将长期面对污染的登加河(Sungai Danga)恢复神气,变身国内具标志性的海滨旅游景点。
“江城@登加”计划首阶段工程面积达52英亩,耗资25亿令吉打造,第一期工程将美化登加河以及兴建岸边设备,第二期工程则兴建两个人工岛、发展综合房产项目,把我国多元文化特色注入发展区内,吸引旅客。
首期料年底完工
今日的推介与动土礼上,柔佛州务大臣拿督斯里卡立诺丁也宣布,开发商将兴建世界最长的开放式沿河走道(Boardwalk)供行人与脚车骑士使用,全长20公里,从丽都海边海事执法机构码头(海景酒店前)沿岸衔接至登加河及士姑来河。
卡立诺丁指出,依海控股首阶段已经投入1亿5000万令吉,兴建第一阶段6公里长的沿河走道以及展开沿河美化工程,工程完成约70%,预计年底完工。
出席者包括依海控股集团执行副主席丹斯里林刚河、执行董事林坚恒以及柔州多名行政议员和新山华社领导。
林坚恒指出,沿河走道虽然设在依海控股发展区内,但这建设不是给发展商专用,而是开放给公众免费使用。
针对许多分析员指依区产业供过于求,他说,言论有欠公平,因为这情况没有发生。
他说,外国发展商仍根据市场需求展开各项房产项目,一些计划发展期还长达15至20年,他们准备长期留下完成所答应的发展项目。
冀发展商落实计划
卡立诺丁指出,新的大型发展计划概念好,惟全民关注的重点是发展商必须兑现计划,加以落实。
“我希望旅客日后来柔州旅游,不只是慕名乐高乐园而来,希望他们可以为参观“江城@登加”景点而来。”
他呼吁公众不要丢垃圾到河里,也不要因为有净化河流计划就不关注垃圾问题,而且清理河流使用的钱来自人民。
回应狮城警惕信号
柔大臣:依区发展稳健
卡立诺丁说,依区发展趋势稳健,而新加坡政府近期总是倾向于向投资依区的狮城人发出警惕,这只是“警惕”,还不到担忧的程度。
至于服务式公寓确实供过于求,但这只是多元房产的其中一部分,并不是整体情况。
他相信有经验的房产发展商会根据市场需求发展各自项目。
“狮城政府常给予警惕(Wary),不是担忧(worry),尤其提供意见给那些准备留在特区的一群。”
他说,狮城政府不会否认,狮城和特区相比,特区生活费较低,各类房产价格也合理。
卡立诺丁指出,州政府将在今年7或8月份举办的房屋展览上,针对国际区域的划分位置以及探讨区内服务式公寓政策和供过于求的情况,征询公众意见。
他说,适合的国际区位置已有,但仍要咨询民意,这很重要。
他说,州政府将确保国际区域位置是双赢局面,各造可等至展览举办期间获取详情。
5大标志项目
依斯干达A旗舰区主要发展商依海控股(IWH),发展大蓝图涵盖4个主干发展区域,其中综合滨海城计划(Integrated Waterfront City)最为成熟,这区域大部分发展沿着登加河、士姑来河与马来友河岸展开。
最新推介的登加河沿岸“江城@登加”计划(The River City@Danga Bay),涵盖5个标志性发展项目,包括威尼斯(Venice)、门户之城(The Gateway)、河岸之都(Rivera)、风之谷(The Bund)与渔人码头(Fisherman Wharf)。
在计划下,开发商除了兴建沿河设备和参与综合房产项目建设,也会建设人工岛。

预付用户承担消费税 电讯业阴霾消除展望佳




(吉隆坡14日讯)预付加额消费税确定将由户自行承担,意味着电讯业者可转嫁消费税,迟迟悬而未决的不利因素终于消散,对领域展望正面。
延宕已久的电讯预付卡加额消费税问题,已有清晰结果。
政府敲定,预付用户只有在开始使用服务(如通过、简讯和数据)时,才会开始被征收消费税。
换言之,用户在购买加额卡时,不会被征收消费税,一张面值10令吉的加额卡,售价依旧是10令吉。
配合此进展,政府宣布,电讯业者有6个月的时间去筹备。
券商普遍正面看待此结果,因这意味着,消费税将由预付用户承担,电讯业者可成功将消费税转嫁到消费者身上。
或降价回馈客户
不过,马银行投行分析员认为,相对于之前业者自行吸纳销售与服务税,转嫁6%消费税对业者带来的好处,并非那么直截了当,也无法直接从营业额和净利中看见“全额”贡献。
“其中,还有很多弹性方面的考量,因为市场竞争依旧激烈。”
这也意味着,业者得到的新收入,有可能会通过降价的方式,部分回馈给客户。
营收时差利大于弊
虽然用户在使用服务时才会被征收消费税,导致加额和收取消费税之间出现“时差”,加上需要成本调整系统,然而,大众投行仍认为利大于弊。
“特别是数码网络(DIGI,6947,主板基建股),因该公司有73%的营业额源自预付业务。”
早前消费税的推行模式尚不明朗,拖累数码网络的股价表现。
另外,虽然业者需要另拨成本重新配置系统,及推出新的预付加额卡,但整体来看,始终利大于弊。
首选明讯亚通
马银行投行分析员维持领域“增持”的投资评级,首选明讯(MAXIS,6012,主板贸服股)和亚通(AXIATA,6888,主板贸服股)。
“去年,明讯和亚通均是领域的落后者,不过,今年的营运表现有望复苏。”
另一方面,政府也要求业者降低收费,对此,分析员一致认为,政府不会太过强硬要求,因为电讯服务费长期会走跌,主因是市场竞争大,加上科技进步,也使得每单位成本降低。


Time Needed To Sort Out GST On Prepaid Top-ups, Say Telcos

KUALA LUMPUR, May 11 (Bernama) -- Telecommunication companies (telcos) are in support of Communications and Multimedia Minister Datuk Seri Ahmad Shabery Cheek's efforts in determining the best solution to the issue of the Goods and Services Tax (GST) on prepaid mobile services.

However, they opined that implementation of any solution would take time, as it involves numerous parties along the prepaid ecosystem such as updating back-end processes, training the front liners as well as preparing communication materials for consumers.

"The prepaid market is a complex ecosystem. Hence, it will be a challenge for any mobile service provider to implement the required changes at short notice," U Mobile's Chief Executive Officer (CEO), Wong Heang Tuck said.

The value-chain is further complicated with various top-up options for the consumers like physical card, virtual reload, Internet and mobile banking as well as ATM machines, he told Bernama.

Ninety per cent of U Mobile subscribers are prepaid users and 10 per cent, post-paid.

U Mobile currently has more than 11,000 traditional dealers and 31,000 alternate distribution channels nationwide comprising convenience stores, electrical chain stores, hypermarkets and supermarkets.

"Despite the challenges, U Mobile is fully committed to supporting the minister and will focus on getting the distribution and back-end ready to serve our customers," Wong said.

Maxis Bhd echoed U-Mobile's concern, saying the firm needs enough time to reconfigure its system and work with third party retailers, resellers and sales agents.

"Implementing any new changes to the application of the GST on prepaid top-ups will involve similar complexities in reconfiguring the system and other activities.

"It also includes the massive effort of exchanging top-up tickets from all the physical touch points, which has to be done manually, dealer by dealer," its CEO, Morten Lundal said.

As of March 31, Maxis had 8.992 million prepaid customers, while the post-paid segment comprised 2.823 million.

According to Lundal, Maxis is willing to work with the authorities, including the Malaysian Communications and Multimedia Commission (MCMC), to ensure smooth implementation and treatment of the GST on prepaid top-ups.

"We will continue to extend our fullest support to the Minister, as part of the efforts to ensure an amicable solution is reached for the benefit of customers and the industry," it added.

Digi Telecommunications Sdn Bhd explained further that the difficulty also involved ensuring a seamless experience for customers and business continuity across 15,000 of Digi's touch points.

"With the majority of 45 million mobile consumers in Malaysia using prepaid to-date and inclusive those with multiple sim cards, we owe it to them to have a swift and definitive decision for peace of mind," CEO, Albern Murty said.

Digi spent more than eight months making adjustments for full compliance to the implementation of GST on April 1.

Another telco, Celcom Axiata Bhd, which has close to 10.2 million or 78 per cent in prepaid customers, said in comments, it was slightly premature for the company to estimate the time needed to change the system as it is a process under review.

As of December 2014, Celcom subscribers stood at 13 million with about 16,000 traditional distribution channels and 17,000 non-traditional.

At present, a reload top-up of RM10 has a GST value of 60 sen.

Until all these changes are made, users will continue to pay GST above the reload value.

-- BERNAMA

Wednesday, May 13, 2015

併購實業辟捷發展獲批 僑豐控股領漲14仙

財經股市13 May 2015 17:42

 (吉隆坡13日訊)僑豐控股(OSK,5053,主要板金融)獲證券監督委員會(SC)批准併購僑豐實業(OSKPROP,6661,主要板房產)及辟捷發展(PJDEV,1945,主要板房產),帶動三家股價大漲並擠進十大上升股榜。

 僑豐控股以2.11令吉開市,早盤一度漲15仙至2.20令吉全日最高水平,休市掛2.19令吉,起14仙。截至下午4時半,該股報2.19令吉,起14仙,成交量518萬2400股。

 僑豐實業早盤以1.92令吉開跑,隨后漲10仙至1.94令吉全日最高價位,休市報1.90令吉,起6仙。截至下午4時半,僑豐實業報1.91令吉,起7仙,成交量32萬300股。

 僑豐控股獲證監會批准執行各項企業活動,並會顯著改變未來業務方向。這包括僑豐控股建議以每股1.95令吉收購僑豐實業,並以每股1.60令吉收購辟捷發展。

 為避免未來業務重疊,該公司獻議將3家公司整合,共創互補效應。

 同時,僑豐控股多元化公司業務、發行紅股和憑單、派發特別股息及提高法定股本建議也獲批准。

 至于僑豐實業公布截至3月底首季業績,在售地收益和建築工程提振下,淨利從2287萬令吉倍增至4834萬令吉。營業額也倍增至2億8402萬令吉,去年同期為1億3972萬令吉。


Source: http://www.chinapress.com.my/node/621512

Kenanga Research - On Our Portfolio - Adding Digi into Dividend Yield Portfolio

Author: kiasutrader   |   Publish date: Tue, 12 May 2015, 09:46 AM 

We are adding 3,000 Digi.com (Digi) shares @ RM6.03/share to our Dividend Yield portfolio. Similar to other Cellcos, Digi has weakened, by c.4.3% since 1st of April, partially due to the on-going regulation hiccup in the prepaid segment following the GST implementation and we believe a permanent solution may take months due to the complexity involving various parties.
Despite some concerns arising from the Cellco prepaid segment, Digi’s outlook remains intact, in our view. In fact, the recent weakness could provide an opportunity for investors to participate in the company’s long-term prospect. We continue to favour Digi among the other Cellcos due to its higher operational efficiency and better competency in monetising data.
At current market price, Digi is trading at 22.5x and 21.4x FY15 and FY16 PERs, respectively, which is below Maxis (FY15: 26.8x; FY16: 25.1x) but on par with Axiata (FY15: 21.6x; FY16: 19.5x). On top of that, the group has declared a first NDPS of 6.1 sen (in conjunction to its 1Q15 result announcement), which is scheduled to go ex on 13-May. For the full financial year, we expect Digi to declare 25.8 sen (consensus: 26.6 sen) dividend, which implies a decent dividend yield of 4.3%.

Source: Kenanga Reseach - 12 May 2015

http://klse.i3investor.com/blogs/kenangaresearch/76383.jsp