Land & General Berhad ("L&G") - Proposed Share Buy-back You are advised to read the entire contents of the announcement or attachment. To read the entire contents of the announcement or attachment, please access the Bursa website at http://www.bursamalaysia.com
This is a good company. The major shareholder David Chou is a genuine owner , keep buying company shares but never sell. Paying dividends to shareholders every year. Only this year due to covid pandemic no dividend payout but proposed to use the profit to shares buyback which will benefit all shareholders. The shares downturn is just a temporary setback due to withdrawals of foreign investors, I guess. The proposed shares buyback will push up the shares price soon. Buy and keep.NTA abt 37 sen with strong fundamentals
1)革免个人的产业盈利税, 有效期限从2020年6月1日至2021年12月31日, 每个人限售3个住宅单位. The exemption for personal or individuals on property gain tax(RPGT), valid from June 1, 2020 to December 31, 2021, each person is limited to the sale of 3 residential units.
2)The RM500,000 or below starter homes likely to boom Buyers for first homes priced below RM500,000 will get FULL STAMP DUTY exemption on Memorandum of Transfer (MOT) and loan agreement. This is effective for agreements inked from January 2021 all the way to December 2025. If this is not attracting first time home buyers to buy, I am not sure what else would.
3)Rent-To-Own scheme for FIRST-TIME home buyers only Government to cooperate with selected financial institutions to provide a Rent-to-Own scheme. This programme will be implemented until 2022 involving 5,000 PR1MA houses with a total value of more than RM1 billion and reserved for first-time homebuyers. This is a SUPER important measure in my opinion. Many may want to buy a home but may not yet have enough downpayment. With this scheme, the buyer can start to become more responsible and may have a chance to own a home a few years down the road.
4)Stamp Duty exemption on stamp duty exemption on loan agreements and transfers given to rescue contractors and original buyers of abandoned houses This has been extended for another five years. Finance Minister Datuk Seri Zafrul Tengku Abdul Aziz said, “This exemption is for the sale and purchase agreement completed from Jan 1, 2021 until Dec 31, 2025 for abandoned housing projects approved by the Ministry of Housing and Local Government.”
5)New homes under People’s Housing Programme and Rumah Mesra Rakyat RM1.2 billion will be provided to build up to 14,000 houses under the People’s Housing Programme and RM315 million to build 3,000 units of Rumah Mesra Rakyat by Syarikat Perumahan Negara Berhad (SPNB).
There are 5 things mentioned above on Budget 2021 for property market. Actually, the above is to stimulate the property market and it is mostly targeted at first time home buyers which will be a very big group. By the way, majority of buyers are buying RM500,000 priced homes or lower and not homes priced above RM500,000. Thus, if the property market moves, this will create a lot of positive stimulus effects to the construction industry too. In other words, these 5 things done right will create more than 5 benefits listed above. Happy thinking about it, seriously. (I meant first-time home buyers) !
President Biden is favours to world trade ! World economy will start booming from today onwards ! And asian stock markets including KLSE will be in bull market from today onwards ! As at 2.10pm, Hang Seng : 26,095.46 (+382.49) (+1.49 %) Shanghai composite: 3,380.38 (+68.23) (+2.06 %) Nikkei : 24,912.31 (+587.08) (+1.41 %) Taiwan Weighted : 13,127.47 (+153.94) (+1.19 %) Korea Kopsi : 2,449.96 (+33.46) (+1.38 %) Singapore STI : 2,611.34 (+32.66) (+1.27 %)
(Bloomberg) -- Oil in London jumped by the most since June as Pfizer Inc. reported a potential Covid-19 vaccine breakthrough.
Crude futures spiked following news the vaccine, being developed by Pfizer and BioNTech SE, prevented more than 90% of infections in a study of tens of thousands of volunteers.
Markets globally surged. WTI climbed more than 10% in New York, while global equities soared. It led to broader strength in the oil futures curve, with timespreads also moving sharply higher.
A vaccine “would be the most meaningful type of mitigator to the situation,” Saudi Energy Minister Prince Abdulaziz Bin Salman said prior to the Pfizer announcement at a conference on Monday. “We’re still hopeful that vaccine is found and that vaccine or vaccines spread and hopefully mobility would be regained.”
Since Covid first emerged, oil markets have been steadily recovering from the biggest crash in consumption in a generation. Transport use in Asia has rebounded strongly, but the renewed resurgence of the virus in Europe has continued to weigh on demand in the region. The emergence of a vaccine would not only help regions suffering form renewed lockdowns, but could also help spur the return of aviation demand -- the hardest hit corner of the market.
The relief in the market was seen in the profits from turning crude into transport fuels. Gasoline cracks in the U.S. reached their highest since mid-October, while those in Europe also gained. Jet fuel was also gaining relative to the value of other transport fuels in Europe, Bloomberg fair value data show.
Prices had earlier rallied as Joe Biden declared victory in the U.S. presidential election and began preparations to navigate America’s pandemic-hit economy out of crisis, with potential shifts coming on a range of policies from fiscal stimulus to Iranian sanctions. At the same time, Saudi Arabia said that OPEC+ could extend oil cuts through 2022 as the group seeks to re-balance the glutted 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....
James James
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Posted by James James > 2020-07-08 10:01 | Report Abuse
L&G proposes share buy back