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Latest Forum Topics / Duty Free Intl    Last:0.067 --  Post Reply
Duty Free
angmohlin
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09-Dec-2017 18:24     
 
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 Alert Admin 		Daily & weekly charts are bullish, hopefully from Monday onward DFI will slowly moving up. Cheers!
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tonylim70
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08-Dec-2017 14:39     
 
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 Alert Admin 		After I posted the clarification from Maybank research that the tax issue is a non-significant one . non material one.. suddenly many buyers.. The BBs must be thinking small investors now know the tax case is a non issue and the BBs cannot play the trick of frightening small investors into selling to them cheap so today suddenly all the huge buying lots appear (must be the BBs)!!

Previously the BBs make use of this " bad" news to scare investors into selling cheap by queuing huge sell queues becos they know small investors do not know the actual happening to the tax case and tried to instill fear into small investors into selling cheap..

How come our local news or brokerage never clarify the tax case?? The tax case has a very simple solution: asking customer to show their passports just like every airport when u buy duty free items.Some ppl tried to paint a very doom scenario to scare small investors into selling.

I hope 24 cents is the U-turn ..

angmohlin      ( Date: 08-Dec-2017 14:08) Posted:

DFI offers yield 6.5% & PE around 13 times. Current price very much lower than share buy back average price of 0.303. Should be good for long-term investment & short-term rebound. DYODD please.
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angmohlin
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08-Dec-2017 14:08     
 
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 Alert Admin 		DFI offers yield 6.5% & PE around 13 times. Current price very much lower than share buy back average price of 0.303. Should be good for long-term investment & short-term rebound. DYODD please.
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jack2906
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08-Dec-2017 13:57     
 
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 Alert Admin 		Yes... Today could be last day to buy below 0.25~
Act fast before too late~

tonylim70      ( Date: 07-Dec-2017 23:30) Posted:

This tax case can be easily solved by documenting purchaser information aka look at the passports of the customers just like what changi airport does when u purchase from duty free shops. BBs using this tax thing to scare small investors into selling to them cheap..

tonylim70      ( Date: 07-Dec-2017 23:28) Posted:

Maintain BUY



Management remains confident that the recent case involving bills of demand from the Royal Malaysian Customs of Perak is in their favour. We maintain our earnings forecasts and MYR6.00 SOP-TP as we are not imputing any material impact from the case.

A high payment demand



DFI&rsquo s (DFI SP, Not Rated) 100%-subsidiary Seruntun Maju Sdn Bhd (SMSB) has received bills of demand on 21 Nov 2017 from the Royal Malaysian Customs of Perak, demanding payments of customs duties, excise duties sales tax, and Goods & Services Tax (GST) totalling MYR41.6m between the periods of 15 Nov 2014 to 30 Sep 2016. The allegation was based on non-compliant of certain conditions at SMSB&rsquo s Pengkalan Hulu duty free outlet - namely not documenting shoppers&rsquo purchases and travel documents upon purchase of duty free goods. Hence, Customs deemed these purchased goods as illegally removed from the duty free outlet.
 

But to be challenged



Management believes that there is no legal nor factual basis for the bills of demand, as (i) the duty free outlet is located outside of the principle customs area [in a buffer zone - between Malaysia and Thailand&rsquo s Customs, Immigration and Quarantine (CIQ) centres] which is not bound to the usual Customs regulations, and (ii) documentation of shoppers&rsquo purchases are not required nor stipulated within its duty free license. Following the receipt of the bills of demand, SMSB has applied and was granted by the High Court for a stay of execution. Hence, SMSB would not be required to make any payments to the Customs Department until the conclusion of the case.

No impact for now



We have not imputed any material impact to Atlan nor DFI at the moment. As the worst case scenario, the payment could reverse DFI&rsquo s entire 1HFY2/18 free cashflow of MYR36m. The Customs&rsquo demand of MYR41.6m is equivalent to 12sen/Atlan share after considering Atlan&rsquo s 75.8% effective stake in SMSB via DFI.

Source: Maybank Research - 05 Dec 2017


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tonylim70
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08-Dec-2017 05:31     
 
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 Alert Admin 		key in " https://klse.i3investor.com/blogs/kltrader/140406.jsp" into browser
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tonylim70
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07-Dec-2017 23:30     
 
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 Alert Admin 		This tax case can be easily solved by documenting purchaser information aka look at the passports of the customers just like what changi airport does when u purchase from duty free shops. BBs using this tax thing to scare small investors into selling to them cheap..

tonylim70      ( Date: 07-Dec-2017 23:28) Posted:

Maintain BUY



Management remains confident that the recent case involving bills of demand from the Royal Malaysian Customs of Perak is in their favour. We maintain our earnings forecasts and MYR6.00 SOP-TP as we are not imputing any material impact from the case.

A high payment demand



DFI&rsquo s (DFI SP, Not Rated) 100%-subsidiary Seruntun Maju Sdn Bhd (SMSB) has received bills of demand on 21 Nov 2017 from the Royal Malaysian Customs of Perak, demanding payments of customs duties, excise duties sales tax, and Goods & Services Tax (GST) totalling MYR41.6m between the periods of 15 Nov 2014 to 30 Sep 2016. The allegation was based on non-compliant of certain conditions at SMSB&rsquo s Pengkalan Hulu duty free outlet - namely not documenting shoppers&rsquo purchases and travel documents upon purchase of duty free goods. Hence, Customs deemed these purchased goods as illegally removed from the duty free outlet.
 

But to be challenged



Management believes that there is no legal nor factual basis for the bills of demand, as (i) the duty free outlet is located outside of the principle customs area [in a buffer zone - between Malaysia and Thailand&rsquo s Customs, Immigration and Quarantine (CIQ) centres] which is not bound to the usual Customs regulations, and (ii) documentation of shoppers&rsquo purchases are not required nor stipulated within its duty free license. Following the receipt of the bills of demand, SMSB has applied and was granted by the High Court for a stay of execution. Hence, SMSB would not be required to make any payments to the Customs Department until the conclusion of the case.

No impact for now



We have not imputed any material impact to Atlan nor DFI at the moment. As the worst case scenario, the payment could reverse DFI&rsquo s entire 1HFY2/18 free cashflow of MYR36m. The Customs&rsquo demand of MYR41.6m is equivalent to 12sen/Atlan share after considering Atlan&rsquo s 75.8% effective stake in SMSB via DFI.

Source: Maybank Research - 05 Dec 2017

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tonylim70
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07-Dec-2017 23:28     
 
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Maintain BUY



Management remains confident that the recent case involving bills of demand from the Royal Malaysian Customs of Perak is in their favour. We maintain our earnings forecasts and MYR6.00 SOP-TP as we are not imputing any material impact from the case.

A high payment demand



DFI&rsquo s (DFI SP, Not Rated) 100%-subsidiary Seruntun Maju Sdn Bhd (SMSB) has received bills of demand on 21 Nov 2017 from the Royal Malaysian Customs of Perak, demanding payments of customs duties, excise duties sales tax, and Goods & Services Tax (GST) totalling MYR41.6m between the periods of 15 Nov 2014 to 30 Sep 2016. The allegation was based on non-compliant of certain conditions at SMSB&rsquo s Pengkalan Hulu duty free outlet - namely not documenting shoppers&rsquo purchases and travel documents upon purchase of duty free goods. Hence, Customs deemed these purchased goods as illegally removed from the duty free outlet.
 

But to be challenged



Management believes that there is no legal nor factual basis for the bills of demand, as (i) the duty free outlet is located outside of the principle customs area [in a buffer zone - between Malaysia and Thailand&rsquo s Customs, Immigration and Quarantine (CIQ) centres] which is not bound to the usual Customs regulations, and (ii) documentation of shoppers&rsquo purchases are not required nor stipulated within its duty free license. Following the receipt of the bills of demand, SMSB has applied and was granted by the High Court for a stay of execution. Hence, SMSB would not be required to make any payments to the Customs Department until the conclusion of the case.

No impact for now



We have not imputed any material impact to Atlan nor DFI at the moment. As the worst case scenario, the payment could reverse DFI&rsquo s entire 1HFY2/18 free cashflow of MYR36m. The Customs&rsquo demand of MYR41.6m is equivalent to 12sen/Atlan share after considering Atlan&rsquo s 75.8% effective stake in SMSB via DFI.

Source: Maybank Research - 05 Dec 2017
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tonylim70
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02-Dec-2017 22:29     
 
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 Alert Admin 		BBs at work lo.. so many counters in SGX BBs or insider trading happens and SGX never cares one la..

Anyway for duty free, this matter is not really a " serious" problem, but the way BBs pump up and dump down is to create a panic so that small investors are so scared that they
dump the shares cheaply and the BBs happily collecting the cheap durians.

I think the reason they waited till 30 Nov then annouce, becos they want the good news of Heinemann increasing the stake in DFZ to net off the effect of the tax problem.
So it reflected in the share price on 1 Dec , the day after the annoucement. The price is more or less stable, dropped by 0.5 cents only becos of the good news of Heinemann cushioning the bad new of the tax.

Back to the tax problem. Why i say the problem is not " serious" . Refer to the quote:

" The said Bills of demand were raised by the Customs Department who alleged that SMSB did not comply with certain conditions of a duty-free shop located at the border of Perintah Tetap Kastam Bil 55." Is just one duty free shop and certain conditions. I think the court will ask Duty free to meet those conditions and then they will settle in private for some token amount. Anyway duty free says it is strongly confident they are in the right.

But u can see in some forums, there are ppl who painted a dooms day scenario saying Duty free will drop to 10 cents etc,,, :) reminds me of lian beng when it was trading at 40+ cents and there are ppl in forums saying it will drop to 20 cents hahhaha.. These are ppl who may be sent by BBs to help push down the share price by frightening small investors and allowing BBs to collect cheap durians.

Anyway personal i think the tax problem is a temporary one while the Heinemann is a long term good news

Even Messi, Ronaldo face tax problem, but hey in the end, they are ok haha


 

angmohlin      ( Date: 02-Dec-2017 17:58) Posted:

Shareholders should put up a notice to the Board of Directors that they have failed in their fiduciary duty to disclose the bills of demand immediately after the 21 November 2017. The Stock Exchange also failed to question the DFI on the delayed announcement. The Stock Exchange of Singapore is the worst authority in the world.

nngeeh      ( Date: 01-Dec-2017 18:02) Posted:

The annoucement came out only yesterday, but they received the demand on 14 November / 21November. Why they didn' t release the news when they receive it, and waited until yesterday to make the announcement?

If you look at the chart, it seems that there was a pump up after 14Nov to 0.285, and then, it turned south after November 22 ...... hmmm .....coincidence
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angmohlin
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02-Dec-2017 17:58     
 
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 Alert Admin 		Shareholders should put up a notice to the Board of Directors that they have failed in their fiduciary duty to disclose the bills of demand immediately after the 21 November 2017. The Stock Exchange also failed to question the DFI on the delayed announcement. The Stock Exchange of Singapore is the worst authority in the world.

nngeeh      ( Date: 01-Dec-2017 18:02) Posted:

The annoucement came out only yesterday, but they received the demand on 14 November / 21November. Why they didn' t release the news when they receive it, and waited until yesterday to make the announcement?

If you look at the chart, it seems that there was a pump up after 14Nov to 0.285, and then, it turned south after November 22 ...... hmmm .....coincidence?

tonylim70      ( Date: 01-Dec-2017 17:49) Posted:


Dividend payout by Duty Free International

The 1st and 2nd interim dividend paid out by Duty Free international in 2015 was around $50M ringgit which translate to 1.75 cents SGD dividend.
==> $40M ringgit is only about 1.5 cents SGD. And the share price has already dropped from 28 cents to 25.5 cents ==> investors already factored in the loss of 1.5 cents SGD. And Duty Free International is very confident of winning the case.
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tonylim70
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02-Dec-2017 08:03     
 
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Quote: " The said Bills of demand were raised by the Customs Department who alleged that SMSB did not comply with certain conditions
of a duty-free shop located at the border of Perintah Tetap Kastam Bi 55."

The tax claim involves a single duty free ship at the border of Perintah and reason  is certain conditions not met. So it wun be a recurring as even if
duty free lose the case, they just have to fulfil the conditions.

Of course BBs will try to capitalise on this " bad news" to spread fear and collect cheap durians :) old trick la

nngeeh      ( Date: 01-Dec-2017 20:38) Posted:

I believe DFI will win. However, until the regulator has cleared them, it' ll continue to cause uncertainty. Even though the total div is enough to cover this $40M, if the custom wins, they will continue to impose this tax on DFI every year (not just 2016). Each year, $40M will need to be allocated for tax. This will halve the div distribution per year ..... DFI needs to settle this fast to provide assurance to shareholders.

tonylim70      ( Date: 01-Dec-2017 17:49) Posted:


Dividend payout by Duty Free International

The 1st and 2nd interim dividend paid out by Duty Free international in 2015 was around $50M ringgit which translate to 1.75 cents SGD dividend.
==> $40M ringgit is only about 1.5 cents SGD. And the share price has already dropped from 28 cents to 25.5 cents ==> investors already factored in the loss of 1.5 cents SGD. And Duty Free International is very confident of winning the case.
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tonylim70
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02-Dec-2017 07:33     
 
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 Alert Admin 		A few points to note by Heinemann buying into duty free.
https://www.trbusiness.com/regional-news/asia-pacific/dfi-deal-with-heinemann-an-expansion-platform/105871

1)Max Heinemann, CEO of Heinemann AP, adds: &ldquo One of the key synergies for this alliance is the similar business models and corporate culture that both the organisations share. We are confident that this partnership will provide a sturdy platform for our expansion into southeast Asia.&rdquo

2) With a track record of more than 35 years in the region, DFI has a presence at leading entry and exit points in peninsular Malaysia including operations at international and domestic airports, seaports, border towns, duty free islands and other tourist destinations. It therefore offers Heinemann a strategic entry into a growing market, and into the wider region.
DFI has previously said that it &ldquo will be exploring opportunities with market players to expand its presence and duty-free operations in Singapore and the region&rdquo .

Heinemann is using Duty Free International as the platform for expanding into this region, countries like Vietnam, Myanmar, Combodia and even Singapore like Changi airport etc... So long term is a counter worth keeping. Along the way will have the hiccups aka bad news  and the BBs trying to scare u into selling  :)
But i believe long term with Heinemann partnership, this is a growth counter .
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tonylim70
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01-Dec-2017 22:17     
 
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 Alert Admin 		Agree with u... BBs will have to decide whether to push the price down (tax issue) or up (heinemann) factor.

Anyway is 2014-2016 = 3 years? 3 years = 40M ringgit ... and that custom is Perak custom. The most they close down that perak duty free shop :)

Anyway, tax issue is common, even Messi, Mourinho , Ronaldo having tax problem :)

But the uncertainty will be forgotten if their next financial results is good aided by Heinemann :) Investors have short memory hahaha

 

nngeeh      ( Date: 01-Dec-2017 20:38) Posted:

I believe DFI will win. However, until the regulator has cleared them, it' ll continue to cause uncertainty. Even though the total div is enough to cover this $40M, if the custom wins, they will continue to impose this tax on DFI every year (not just 2016). Each year, $40M will need to be allocated for tax. This will halve the div distribution per year ..... DFI needs to settle this fast to provide assurance to shareholders.

tonylim70      ( Date: 01-Dec-2017 17:49) Posted:


Dividend payout by Duty Free International

The 1st and 2nd interim dividend paid out by Duty Free international in 2015 was around $50M ringgit which translate to 1.75 cents SGD dividend.
==> $40M ringgit is only about 1.5 cents SGD. And the share price has already dropped from 28 cents to 25.5 cents ==> investors already factored in the loss of 1.5 cents SGD. And Duty Free International is very confident of winning the case.
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nngeeh
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01-Dec-2017 20:38     
 
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 Alert Admin 		I believe DFI will win. However, until the regulator has cleared them, it' ll continue to cause uncertainty. Even though the total div is enough to cover this $40M, if the custom wins, they will continue to impose this tax on DFI every year (not just 2016). Each year, $40M will need to be allocated for tax. This will halve the div distribution per year ..... DFI needs to settle this fast to provide assurance to shareholders.

tonylim70      ( Date: 01-Dec-2017 17:49) Posted:


Dividend payout by Duty Free International

The 1st and 2nd interim dividend paid out by Duty Free international in 2015 was around $50M ringgit which translate to 1.75 cents SGD dividend.
==> $40M ringgit is only about 1.5 cents SGD. And the share price has already dropped from 28 cents to 25.5 cents ==> investors already factored in the loss of 1.5 cents SGD. And Duty Free International is very confident of winning the case.

nngeeh      ( Date: 01-Dec-2017 12:45) Posted:

Could be related to the announcement yesterday asa below. If the custom wins, Duty Free might need to pay up to $40M MYR ...... the selldown could be due to this uncertainty.

 

Seruntun Maju Sdn. Bhd. (" SMSB" ) has received the bills of demand dated 14 November 2017 from the Royal Malaysian Customs of Perak Darul Ridzuan (" Customs" ), which SMSB received on 21 November 2017, demanding payments of customs duties, excise duties sales tax and Goods and Services Tax (" GST" ) as follows:-

i) RM15,400,962.14 claimed under the Customs Act 1967, for the period of 15 November 2014 to 30 September 2016.

ii) RM23,560,972.94 claimed under the Excise Act 1976, for the period of 15 November 2014 to 30 September 2016.

iii) RM377,704.90 claimed under the Sales Tax Act 1972, for the period of 15 November 2014 to 30 September 2016.

iv) RM2,255,346.88 claimed under the Goods and Services Tax Act 2014, for the period of 15 November 2014 to 30 September 2016.

The said Bills of demand were raised by the Customs Department who alleged that SMSB did not comply with certain conditions of a duty-free shop located at the border of Perintah Tetap Kastam Bil 55.

The Company, after consultation with its solicitors, strongly believes that there is no legal and/or factual basis for Customs Department to arrive at their decision to raise the said Bills of demand. This is especially when SMSB&rsquo s duty free shop is located outside the principal customs area. The solicitors

of SMSB will be taking the necessary defence actions on its behalf.


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angmohlin
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01-Dec-2017 19:12     
 
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DFI holding cash or equivalents about $88,384,589 (cash about $15,435,120).
 
Top 20% of shareholders owns 98.15% of total issue.


The company has spent $3,170,591.40 to buy back 10,453,900 shares at average price of 0.30329/share between 13 July -21 Sept 17 period.


tonylim70      ( Date: 01-Dec-2017 18:21) Posted:

Long term with heinemann, one of the world largest duty operator as partner is a very exciting prospect and now duty free internation is flush with cash, they have to expand sooner rather than later. :)
 

angmohlin      ( Date: 01-Dec-2017 18:07) Posted:

Don/t sell to BB & keep for dividend of 1.6 cents which is yield about 6.27% c/w long-term good prospect. 
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tipper
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01-Dec-2017 19:01     
 
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" Seruntun Maju Sdn. Bhd. ("   SMSB" ) has received the bills of demand dated 14 November 2017 from the Royal Malaysian Customs of Perak Darul Ridzuan ("   Customs" ), which SMSB received on 21 November 2017, demanding payments of customs duties, excise duties sales tax and Goods and Services Tax ("   GST" )"
 
 
 
 
Bad news, but no choice as Ah Jib wants to gather enough before the coming GE.
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tonylim70
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01-Dec-2017 18:21     
 
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 Alert Admin 		Long term with heinemann, one of the world largest duty operator as partner is a very exciting prospect and now duty free internation is flush with cash, they have to expand sooner rather than later. :)
 

angmohlin      ( Date: 01-Dec-2017 18:07) Posted:

Don/t sell to BB & keep for dividend of 1.6 cents which is yield about 6.27% c/w long-term good prospect. 

tonylim70      ( Date: 01-Dec-2017 17:58) Posted:

Heinemann just bought another 5% stake in duty free. If duty free is so bad as some of u here implied, why would a reputable and one of the world largest duty free operator aka Heinemann buy more duty free shares??

So with Heinemann support , duty free internation is having a POWERFUL partner which may help duty free international to expand overseas.

The current price drop is the work of BBs (yesterday there was a fake 7000+ lots queue at 26 cents to sell at 5.01pm), this must be the work of BBs trying to scare off investors and lure investors to dump while they collect cheap durian.

Of course there will be some ppl here fear mongering to scare u to sell hahaha... dun sell cheap to the BBs.

   


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angmohlin
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01-Dec-2017 18:07     
 
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 Alert Admin 		Don/t sell to BB & keep for dividend of 1.6 cents which is yield about 6.27% c/w long-term good prospect. 

tonylim70      ( Date: 01-Dec-2017 17:58) Posted:

Heinemann just bought another 5% stake in duty free. If duty free is so bad as some of u here implied, why would a reputable and one of the world largest duty free operator aka Heinemann buy more duty free shares??

So with Heinemann support , duty free internation is having a POWERFUL partner which may help duty free international to expand overseas.

The current price drop is the work of BBs (yesterday there was a fake 7000+ lots queue at 26 cents to sell at 5.01pm), this must be the work of BBs trying to scare off investors and lure investors to dump while they collect cheap durian.

Of course there will be some ppl here fear mongering to scare u to sell hahaha... dun sell cheap to the BBs.

   

tonylim70      ( Date: 01-Dec-2017 17:53) Posted:

Many  companies and even individual has brushes with the tax authority. Is part and parcel of business.

Even Messi, Ronaldo and Jose Mourihno having some dispute with tax authority.

I think eventually the case will be settled in private with a much reduced payment. Anyway $40M ringgit is only about 1.5 cents SGD per share.

In this case the tax claim is only restricted to PERAK  customs  and not other states. Perhaps one of the manager there trying to pull a fast one and hope to earn more $$$. Anyway Duty Free is very confident of winning. If they win the case, u can bet the share price will rocket.

 
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nngeeh
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01-Dec-2017 18:02     
 
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 Alert Admin 		The annoucement came out only yesterday, but they received the demand on 14 November / 21November. Why they didn' t release the news when they receive it, and waited until yesterday to make the announcement?

If you look at the chart, it seems that there was a pump up after 14Nov to 0.285, and then, it turned south after November 22 ...... hmmm .....coincidence?

tonylim70      ( Date: 01-Dec-2017 17:49) Posted:


Dividend payout by Duty Free International

The 1st and 2nd interim dividend paid out by Duty Free international in 2015 was around $50M ringgit which translate to 1.75 cents SGD dividend.
==> $40M ringgit is only about 1.5 cents SGD. And the share price has already dropped from 28 cents to 25.5 cents ==> investors already factored in the loss of 1.5 cents SGD. And Duty Free International is very confident of winning the case.

nngeeh      ( Date: 01-Dec-2017 12:45) Posted:

Could be related to the announcement yesterday asa below. If the custom wins, Duty Free might need to pay up to $40M MYR ...... the selldown could be due to this uncertainty.

 

Seruntun Maju Sdn. Bhd. (" SMSB" ) has received the bills of demand dated 14 November 2017 from the Royal Malaysian Customs of Perak Darul Ridzuan (" Customs" ), which SMSB received on 21 November 2017, demanding payments of customs duties, excise duties sales tax and Goods and Services Tax (" GST" ) as follows:-

i) RM15,400,962.14 claimed under the Customs Act 1967, for the period of 15 November 2014 to 30 September 2016.

ii) RM23,560,972.94 claimed under the Excise Act 1976, for the period of 15 November 2014 to 30 September 2016.

iii) RM377,704.90 claimed under the Sales Tax Act 1972, for the period of 15 November 2014 to 30 September 2016.

iv) RM2,255,346.88 claimed under the Goods and Services Tax Act 2014, for the period of 15 November 2014 to 30 September 2016.

The said Bills of demand were raised by the Customs Department who alleged that SMSB did not comply with certain conditions of a duty-free shop located at the border of Perintah Tetap Kastam Bil 55.

The Company, after consultation with its solicitors, strongly believes that there is no legal and/or factual basis for Customs Department to arrive at their decision to raise the said Bills of demand. This is especially when SMSB&rsquo s duty free shop is located outside the principal customs area. The solicitors

of SMSB will be taking the necessary defence actions on its behalf.


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tonylim70
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01-Dec-2017 18:01     
 
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 Alert Admin 		ATLAN , duty free parent' s share price did not suffer ..
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tonylim70
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01-Dec-2017 17:58     
 
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 Alert Admin 		Heinemann just bought another 5% stake in duty free. If duty free is so bad as some of u here implied, why would a reputable and one of the world largest duty free operator aka Heinemann buy more duty free shares??

So with Heinemann support , duty free internation is having a POWERFUL partner which may help duty free international to expand overseas.

The current price drop is the work of BBs (yesterday there was a fake 7000+ lots queue at 26 cents to sell at 5.01pm), this must be the work of BBs trying to scare off investors and lure investors to dump while they collect cheap durian.

Of course there will be some ppl here fear mongering to scare u to sell hahaha... dun sell cheap to the BBs.

   

tonylim70      ( Date: 01-Dec-2017 17:53) Posted:

Many  companies and even individual has brushes with the tax authority. Is part and parcel of business.

Even Messi, Ronaldo and Jose Mourihno having some dispute with tax authority.

I think eventually the case will be settled in private with a much reduced payment. Anyway $40M ringgit is only about 1.5 cents SGD per share.

In this case the tax claim is only restricted to PERAK  customs  and not other states. Perhaps one of the manager there trying to pull a fast one and hope to earn more $$$. Anyway Duty Free is very confident of winning. If they win the case, u can bet the share price will rocket.

 

alexchew      ( Date: 01-Dec-2017 15:50) Posted:

note the time period.. if the custom wins, it will have the ability to open up more periods? It only until nov 2016 and goes back to 2014 only... and it will affect their margins gg forward, their dividend will not be able to sustain if add all these additional cost in. Hell of a gate open this time.. Lots of uncertainty. They should quickly engage a tax consultant and give them the all green light that wat they are doing is all ok. Instead of the usual replies, will defend their rights... who knows how long this will last.. uncertainty is nv gd for a share price.
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