The Star Online: Business
The Star Online: Business |
- Low Yat sees little impact from real property gains tax hike
- Datasonic slips on profit-taking after price surge
- Microsoft shareholders advised to vote against director Thompson
| Low Yat sees little impact from real property gains tax hike Posted: PETALING JAYA: The Low Yat Group, which is developing the 1,081ha Bandar Tasik Puteri (BTP) township, believes the real property gains tax increase and the removal of the developer interest-bearing scheme will not have much impact on the company due to its product pricing. The company's project/construction management director Lee Kok Wah told StarBiz that most buyers of BTP properties were owner-occupiers, while the homes were mostly in the mid-price range. "These measures would mostly hit speculators rather than genuine investors," said Lee. He said the company recently opened phases four and five of the Garden Heights range of homes in the township for preview. These phases have a combined gross development value (GDV) of RM90mil and comprise 163 units of double-storey terraced houses priced from RM480,000 to RM800,000. Lee said 90% of phase three's 114 units of double-storey terraced houses launched in July had been sold. Besides residential properties, the company also recently opened the Centro@Medan Puteri shop-offices comprising 24 three-storey units with a GDV of RM40mil. He said this was to cater to the growing population of the township and surrounding areas, estimated to be at around 60,000. A number of the more expensive units priced from RM1.3mil to RM3mil had been taken up at the preview. Meanwhile, the company is continuing to upgrade the infrastructure of the township and surrounding neighbourhoods. Lee said the RM100mil interchange off the Latar Expressway would be completed at end-2015. He said the construction of the interchange would cut down the time for the township's residents to reach Kuala Lumpur. |
| Datasonic slips on profit-taking after price surge Posted: KUALA LUMPUR: Shares of Datasonic, which had surged from RM3.32 since September to an all-time high of RM6.11 on Monday, shed some of the gains early Tuesday. At 10.06am, it was down 13 sen to RM5.95. There were 46,500 shares done. The FBM KLCI fell 1.94 points to 1,816.45. Turnover was 477.85 million shares valued at RM255.79mil. There were 239 gainers, 215 losers and 261 counters unchanged. Datasonic shares surged to RM5 on Oct 18 when it announced its corporate exercise involving a share split and bonus issue. As at June 30, 2013, its net asset per share was RM1.58. It posted net profit of RM20.59mil versus the RM8.49mil a year ago. It is cash rich with deposits with licensed banks and cash and bank balances of more than RM52mil. |
| Microsoft shareholders advised to vote against director Thompson Posted: SEATTLE: Proxy advisory firm Glass Lewis has recommended that Microsoft Corp shareholders vote against the re-election of lead independent director John Thompson, who is in charge of the company's efforts to find a new chief executive. In a research note circulated to its clients on Monday, Glass Lewis expressed concerns about a possible conflict of interests for Thompson in his role as CEO of Virtual Instruments, a cloud-computing firm that sells licenses and devices to Microsoft. Glass Lewis is one of two major companies which make recommendations to shareholders based on corporate governance guidelines, but its views are not necessarily heeded by large investors. Microsoft representatives did not immediately reply to a request for comment. Thompson, a former International Business Machines Corp executive, was appointed to Microsoft's board in February 2012 and elected by shareholders at the annual meeting later that year. Microsoft's next shareholder meeting is scheduled for November 19. Glass Lewis is recommending shareholders vote to re-elect the company's other eight directors, including CEO Steve Ballmer and Chairman and co-founder Bill Gates. Ballmer announced in August that he will retire as CEO within the next 12 months, triggering a search for a new leader which is being headed by Thompson. It is not clear if Ballmer will retain his seat on the board after he retires, although he has said he intends to be an active shareholder in the company. Some investors have suggested to the board that Gates step down from his role as chairman, saying he stands in the way of radical reform at Microsoft, which has lost ground to Apple Inc and Google Inc in mobile computing. Gates has not indicated any intention of stepping down.- Reuters |
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