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Share Name Share Symbol Market Type Share ISIN Share Description
Steppe Cement Ltd LSE:STCM London Ordinary Share MYA004433001 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 41.50 40.00 43.00 41.50 41.00 41.50 54,458 08:07:20
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Construction & Materials 54.7 9.6 3.7 10.1 91

Steppe Cement Share Discussion Threads

Showing 4951 to 4972 of 5375 messages
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DateSubjectAuthorDiscuss
19/10/2022
13:00
The Board of Steppe Cement Ltd (Steppe Cement or Company) wish to draw the attention of shareholders to the following matters:

Dividend proposal

The Board wishes to recommend the distribution of a 5p dividend in respect of 2021. However new regulations in Malaysia have created uncertainty about the tax treatment of foreign sourced dividend income for Malaysian corporates - meaning that income to Steppe Cement Sdn Bhd may be subject to a 24% withholding tax. Therefore before declaring the dividend, the Board is waiting for clarification regarding the exemption to this tax. It is the understanding of the Board that confirmation from the Malaysian authorities will be forthcoming shortly. The Kazakh subsidiaries already pay 20% profit tax in Kazakhstan.

return_of_the_apeman
19/10/2022
12:53
Great spot Aleman,

Think it is covered in this bit, I seem to remember the companies gripe was that tax had already been paid in another country - I'll see if I can dig it out if no-one has it to hand

Pursuant to the Order, the FSI exemption available to a qualifying individual[1] is conditional upon the FSI having been subjected to tax “of a similar character to income tax” under the laws of the foreign jurisdiction (“subject to tax” condition). For the purpose of this Order, the Guidelines provide that the “subject to tax” condition is considered to have been met where:

(i)The income has been subject to tax in the foreign jurisdiction – i.e., withholding tax (WHT) or income tax is paid or payable in the foreign jurisdiction

Dyor - I am not an expert

Other bullish factors around this announcement are it came out after the last update from the company stating it expected the issue to be sorted in November. Also it was in the public domain before the insiders bought a massive chunk last week.

return_of_the_apeman
19/10/2022
09:28
Still not sure what this means. It seems to remove the risk of any further tax on taxed dividends received into Malaysia but is the outgoing dividend taxed or not? It looks like it would be if the second dividend was paid to another Malaysian entity but not if paid abroad. I think this means we get the 5p if the tax issue was just potential double taxation of the first inward dividend? The information is out there now but I'm still not sure.


Https://www.ey.com/en_my/tax-alerts/tax-treatment-of-income-that-is-received-from-outside-malaysia

Conditions in relation to Income Tax (Exemption) (No. 6) 2022, which apply to the dividend income of companies, LLPs and individuals earning dividend income in relation to a partnership business


Pursuant to the Order, the exemption on dividend income available to a qualifying person[2] is on condition that:

(a) The dividend income has been subjected to tax “of a similar character to income tax” under the laws of the foreign jurisdiction (“subject to tax” condition), and

(b) The “headline tax rate” (i.e., highest rate of tax “of a similar character to income tax” charged under the laws of the foreign jurisdiction) is at least 15%.

For the purpose of this Order, the Guidelines provide that the “subject to tax” condition is considered to have been met where the foreign-sourced dividend income:

(i) Has been subject to tax in the foreign jurisdiction, as follows:

WHT or income tax is paid or payable on the dividend income; or
The dividend has been subject to underlying tax. On this point, the Guidelines appear to indicate that underlying tax is limited to the tax paid by the entity from which the dividend is received. This is indicated for example in Note II of Paragraph 5.2.1.3(a), which specifically indicates that the underlying tax is only the tax of the entity paying the dividends. This note is replicated below, and is illustrated in Appendix 1 of the Guidelines.

Nota II:
Jika syarikat pembayar (Syarikat X) membayar dividen daripada dividen yang diterima daripada syarikat lain (Syarikat Y) (sama ada dalam negara yang sama dengan Syarikat X atau sebaliknya), underlying tax yang dibayar oleh Syarikat Y tersebut ke atas dividen itu tidak boleh dianggap sebagai cukai yang dibayar atau kena dibayar oleh Syarikat X bagi tujuan syarat kelayakan ini (rujuk ilustrasi di Lampiran 1).



Note II:

If the paying company (Company X) pays dividends out of dividends received from another company (Company Y) (either from the same country as Company X or otherwise), the underlying tax paid by Company Y on the dividends cannot be considered as tax which is paid or payable by Company X for the purposes of this eligibility requirement (refer to the illustration in Appendix 1).




Https://taxsummaries.pwc.com/malaysia/corporate/income-determination

Dividend income

Malaysia is under the single-tier tax system. Dividends are exempt in the hands of shareholders. Companies are not required to deduct tax from dividends paid to shareholders, and no tax credits will be available for offset against the recipient’s tax liability. Corporate shareholders receiving exempt single-tier dividends can, in turn, distribute such dividends to their own shareholders, who are also exempt on such receipts.

aleman
19/10/2022
08:19
That 300,000 was almost certainly a sell, but I'm convinced that a lot of buys are going through as sells. Typically the first few trades today.
eggbaconandbubble
18/10/2022
17:42
A large late trade just popped up. I think it must be a delayed sell from earlier today ?
jeanesy
17/10/2022
07:02
I've asked ADFN if they can do something to stop this happening.
eggbaconandbubble
16/10/2022
16:54
Indeed , pure blatant spamming
danmart2
15/10/2022
11:50
Surely it can't be beyond the wit of a software engineer to automatically block anyone posting the same message on multiple boards?
eggbaconandbubble
14/10/2022
19:19
looks like a large sale today of 125k was the reason why many of you were able to buy at just over 33p .
jeanesy
14/10/2022
15:38
Just bought at 33.04, also showing as a sell.
1jbrisky
14/10/2022
12:53
I just bought a few more this morning at 33.09p.
If you believe the company will pay the dividend in November (as I do) it seems incredible value. IMO, the share price will go to 50p+ if and when the delayed 5p dividend is formally announced.

tigerbythetail
14/10/2022
10:11
There are buys going through at 33.09. Perhaps they are delayed as i have asked for a live price myself today ?
jeanesy
14/10/2022
10:02
'All those 'sells' at £0.3309 are actually 'buys'.
eggbaconandbubble
14/10/2022
09:15
Return of the apeman

You are not the only one waiting !

danmart2
14/10/2022
07:23
There was 110,000 available to buy at 33p a few minutes back, unfortunately they have evaporated and now the price is 33.9p for any size :-(

I will wait

return_of_the_apeman
13/10/2022
07:59
It would seem someone knows something. Glad if SEB are finally out, their games in the Spring played a big part in the share price getting to where it is.
finctastic
12/10/2022
19:08
This was position from Stockopedia before this morning new Holdings declarations but, I believe it's incorrect as SEB dropped below 3% according to RNS on 4th March (falling to 6.46m or 2.95%)
mattjos
12/10/2022
18:35
wonder who seller is
mattjos
12/10/2022
18:20
Either way, todays RNSs are interesting and ,Anne there is something in the pipeline? I think it’s more likely the sums are too good to resist, healthy dividends, preferable currencies, good yearly results, further growth expected, etc.
danmart2
12/10/2022
12:12
Fwiw, many of the trades being reported as sells are at current quoted offer price. E.g. just tried dummy sell and buy, was quoted 32.75p sell, 33.24p buy.
bluemango
12/10/2022
11:17
I wonder if the intention is to take the company private? That is always the danger with large shareholders buying more.
3800
12/10/2022
10:50
And despite all the positive RNS information the share price is still at a discount compared to the company true value before you consider the dividend.
danmart2
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