only amateurs will look at the final amount on the QR becuz no way they will understand the QR due to their limited knowledge on investment. I am happy to see these amateurs to CL by tomorrow as I will so I can buy more !
In addition, the enactment of the Energy Profit Levy by UK Government led to a deferred tax liability recognised as at 31 March 2023 of RM252.40 million is non-cash in nature and it will be fully reversed to the profit or loss by 31 March 2028. This reversal will have positive impact as it reduces our tax expense during the window for which the EPL regime applies
But the future cash cow (Semi Conductor) seems to be a very tired cow at the moment dragging the company down this is the loss making part and its a big loss on that segment of DNEX.
Dnex and BIH (Foxconn) has also extended the MOU in regard to the structure of the JV for the plant building and operation in Malaysia...MOU is has been extended until 16 May 2024. Atleast that a bit positive...But talk is cheap and action is required :-)
The tax expenses of Rm277.9 mill includes the deferred tax expense of Rm252 mill, engendered by the Energy Profit Levy (“EPL”), a temporary levy introduced by UK Government on 14 July 2022. The EPL was set at 25% for profits arising from 26 May 2022 to 31 December 2022 and 35% for profits arising from 1 January 2023 to 31 March 2028. The deferred tax expense is provision for future tax obligation which is expected to be reversed ( credit back as gain) during the window for which the EPL regime applies, i.e. up to 31 March 2028 . Taking out the deferred tax of Rm252.4 mill from the attributable loss of Rm239.8, you will get attributable profit of Rm12.6. Think selling is grossly overdone.
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