Latest news with #695
Deccan Herald
5 days ago
- Politics
- Deccan Herald
August 6, 2025: Best photos from around the world
LoP in the Lok Sabha and Congress leader Rahul Gandhi with Jharkhand Chief Minister Hemant Soren during the last rites of the latter's father and former chief minister Shibu Soren, at Nemra village in Jharkhand's Ramgarh district. Credit: PTI photo Royal New Zealand Air Force personnel undertake a medical evacuation of three people from McMurdo Station in Antarctica, in this handout photo released on August 6, 2025. AIADMK general secretary Edappadi K. Palaniswami addresses a public rally, in Tenkasi, Tamil Nadu. Maharashtra Chief Minister Devendra Fadnavis with Deputy CM Ajit Pawar felicitates Bollywood actor Anupam Kher during the diamond jubilee ceremony of the Maharashtra State Marathi Film Awards, in Mumbai. Credit: PTI photo Priests and others watch the film '695' during a screening in Ayodhya, Tuesday, Aug. 5, 2025. The film tells the story of the 500-year struggle for the Ram Mandir. Credit: PTI photo
New Straits Times
6 days ago
- Business
- New Straits Times
Hartalega subsidiary gets RM101.36mil additional tax bill
KUALA LUMPUR: Hartalega Holdings Bhd's wholly owned subsidiary, Hartalega NGC Sdn Bhd, has received a notice of additional assessment amounting to RM101.36 million from the Inland Revenue Board (LHDN) for the assessment years from 2017 to 2022. The company said in a filing with Bursa Malaysia today that the notice, received on Aug 4, 2025, comprises additional tax assessments of RM13.92 million for 2017, RM36.35 million for 2018, RM10,695 for 2019, RM32.89 million for 2020, RM18.10 million for 2021 and RM90,625 for 2022. "The company is currently seeking legal advice and evaluating its legal options, which may include initiating a formal appeal to the LHDN," Hartalega said. It added that further announcements will be made as and when there are material developments. "The announcement was made in compliance with Paragraph 9.03 of the Main Market Listing Requirements of Bursa Malaysia Securities," it said.
The Citizen
01-08-2025
- Business
- The Citizen
Lower borrowing costs open doors for homebuyers
The latest home loans data, released by ooba Home Loans, South Africa's foremost home loan comparison service, points to improvements across all major indicators, set against the backdrop of a lower interest rate environment. 'Our Quarter 2 2025 (Q2 '25) oobarometer highlights an upturn in home loan activity, primarily driven by improved affordability – where income growth outpaces house price inflation in some regions – and the reduced cost of borrowing,' says Rhys Dyer, CEO of the ooba Group. He adds that in addition to the 1% year-on-year reduction in the cost of borrowing, the banks remain highly competitive, offering some of the largest discounts to the prime lending rate seen in recent years. 'These culminating factors have yielded positive outcomes, with ooba Home Loans' application volumes rising by 11% year-on-year and the total value of these applications increasing by 18.5%,' continues Dyer. 'These figures signal a decisive rebound from the post-pandemic slump that bottomed out in Q4 '23.' Source: ooba Home Loans Improved Affordability Spurs Higher Homebuyer Spending Q2 '25 data shows that homebuyers (now one-year older year-on-year – aged 40) are spending more, with the average property purchase price increasing by 3.9% year-on-year – now at R1,695,257. Regionally, Dyer highlights substantial increases in average purchase prices, especially in the Free State and Tshwane. 'From January to June '25 (H1 '25), the Free State and Tshwane saw significant year-on-year growth in the average purchase price paid – up by 12% (R1.16 million) and 10.1% (R1.77 million), respectively. Tshwane also registered the highest growth in average monthly gross income for the same period, up by 15.9% to R78,713 – highlighting improved affordability as a key driver in the region's improved performance.' Meanwhile, the country's most expensive region, the Western Cape, recorded a modest 3.3% year-on-year increase in the average purchase price, bringing it up to an average of R2.39 million while Johannesburg's purchase price rose by 5% to R1.65 million (H1 '25). 'With the exception of Gauteng South & East, every region recorded an increase in the average purchase price over the quarter from year-earlier levels – a promising indicator for the market at large.' Bank Lending Ramps Up In Q2 '25, ooba Home Loans achieved an average interest rate of prime less -0.67% for its customers – a notable improvement of -0.11% on Q2 '24 and -0.12% on Q1 '25. While all regions enjoyed attractive interest rate discounts in Q2 '25, the Western Cape achieved the highest average discount, at prime less -0.96%, followed by the Eastern Cape at -0.74%. Year-on-year, Mpumalanga and Tshwane saw the biggest improvements in their pricing, with rate discounts up by -0.19% and -0.17%, respectively. Source: ooba Home LoansAdding to robust bank lending activity, approval rates for ooba Home Loans' customers remained elevated in Q2 '25 at 82.6% – flat on Q2 '24, while the ratio of applications declined by one bank but approved by another increased to 45.7%, highlighting the importance of shopping around to multiple banks for a home loan. Deposits Drift Lower Home loan deposits drifted lower in Q2 '25 relative to the same period last year, down by 13.5% year-on-year to R239,545. Despite the drop, deposits still represent a substantial 14.1% of the average purchase price. Regionally, Dyer shares that the Western Cape recorded the highest average deposit for the quarter, at 20.3% of the purchase price, while Mpumalanga came in lowest at 7.9%. 'Tshwane, the Eastern Cape, Johannesburg, Limpopo, and KwaZulu-Natal posted deposit values ranging from 12.2% to 14.0% of the purchase price – reflecting strong saving habits and a clear understanding of the importance of putting down a deposit on a home loan,' he adds. New Horizons for South Africa's First-Time Homebuyers First-time homebuyers (aged 35 on average in Q2 '25, unchanged from year-earlier levels) are responding positively to the current home loan environment, spending 3.5% more on homes in Q2 '25 than in Q2 '24 (at R1,239,413). And although the percentage of first time homebuyers showed only a modest year-on-year (increase of 1%) to 46% in Q2 '25, Dyer expects demand from this segment to gradually rise following July's expected interest rate cut. 'Banks are actively stimulating this market segment by offering attractive incentives, such as zero-deposit and cost-inclusive home loans,' he notes. 59% of first-time homebuyers purchased without a deposit (100% home loans) and 10.5% secured financing that also covered transfer and bond registration costs. He adds that the overall approval rate in this segment for home loans with a loan-to-value (LTV) ratio of 100% or more still reflects a very strong 80.8% in Q2 '25 – slightly lower than the 81.7% recorded in Q2 '24. Buy-To-Let Activity Maintains Momentum National demand for buy-to-let properties remains steady, accounting for 12.6% of total applications for H1 '25 – a slight increase from 12.2% over the same period in 2024. 'The Western Cape continues to garner strong interest, with demand holding steady at around 31% of total applications, ' says Dyer. And while investment demand in the Eastern Cape eased to 12.2%, down from a peak of 20% in December '24, the region maintains a solid share of the market. Looking ahead, Dyer believes there is a strong likelihood of another interest rate cut in July – a development that will play a key role in driving a successful second half of the year. 'More South Africans can step into the property market with confidence, knowing that all key indicators are gaining ground and that the banks are willing to support them. We anticipate stronger demand from first-time homebuyers, in particular, over this period and look forward to supporting them on their journey to homeownership.' Issued by: Jess Gois
The South African
21-06-2025
- Business
- The South African
A look inside the Gupta mansions going up for auction
Three high-class Gupta mansions in Saxonwold, Johannesburg, will be up for auction on 24 July 2025. This follows the business rescue for the family's company, Confident Concept (Pty) Ltd, which the properties fall under. Park Village Auction's Clive Lazarus described the sale as signalling the 'beginning of the end' of the seven-year saga. The viewing of the properties, handled by Park Village Auctions, will be held between 6 and 20 July 2025. The first mansion will be the triple-storey residence at 5 Saxonwold Drive, featuring eight bedrooms, extensive living and entertainment areas, an indoor swimming pool, an expansive rooftop patio, staff accommodation, and ample garaging. The mansion measures up to 4,207 sqm. The 5 Saxonwold Drive mansion. IMAGE: Park Village Auctions. Indoor swimming pool. IMAGE: Park Village Auctions. The next property available for auction is the number 7 Saxonwold Drive, also a triple storey, has a staggering 17 en-suite bedrooms. The property features a triple-volume foyer, multiple lounges, a cinema lounge, staff accommodation and even a beauty salon. The 7 Saxonwold Drive property. IMAGE: Park Village Auctions. A salon inside the property. IMAGE: Park Village Auctions. IMAGE: Park Village Auctions. Last but not least on the list is number 3 Saxonwold Drive single-storey three-bedroom home with a single garage, storeroom, and staff accommodation. The number 3 Saxonwold Drive. IMAGE: Park Village Auctions. IMAGE: Park Village Auctions. The entire contents of each house, namely furniture and appliances, will be sold as a single lot (not individual items) following each respective property. To be part of the bid, you have to register and pay the relevant refundable deposits. Viewings of the properties will be held on 6, 13, 19 and 20 July 2025 from 10:00 to 16:00. The Saxonwold properties once hosted prominent figures such as the former Deputy Finance Minister, Mcebisi Jonas, who confessed at the Zondo commission about bribes and corruption he encountered during a meeting at one of the Gupta residences. The family's business, Confident Concept (Pty) Ltd, has been involved in two legal battles, including business rescue proceedings following financial distress and disputes over property development with municipal authorities. The company owned a substantial portfolio of properties, including those adjacent to the infamous Saxonwold compound in Johannesburg. Notably, these properties were embroiled in litigation with the City of Johannesburg (CoJ), allegedly owing R726,695 in rates and taxes as of 2022. After years of several appeals at the Supreme Court of Appeal, the Appellate Division finally ruled, allowing the Confident Concepts properties to go up for auction and 'hopefully lead to a long-awaited payday for creditors,' says Lazarus. Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1 Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
Daily Express
05-06-2025
- Politics
- Daily Express
RM13 million Sabah State Education Fund aid for 9,000 students
Published on: Thursday, June 05, 2025 Published on: Thu, Jun 05, 2025 By: Marutin Ansiung Text Size: Mohamad Arifin (seated, centre) and others VIP in a group photo at the event. KENINGAU: The Sabah State Education Fund (TPNS) has spent RM13 million to support the education of more than 9,000 youths in Sabah since its inception three years ago. State Science, Technology and Innovation minister Datuk Dr Mohamad Arifin Arif said this reflected State Government's unwavering dedication to ensuring that no child in Sabah is deprived of educational opportunities. Advertisement 'This ongoing initiative, launched three years ago by Chief Minister Datuk Seri Hajiji Noor, underscores the State Government's prioritisation of education as a vital investment in Sabah's future,' he said. Arifin, representing the Deputy Chief Minister Datuk Seri Dr Jeffrey Kitingan, said this during a ceremony held at the Sabah State Library Auditorium in here on Tuesday, where he officiated the distribution of TPNS aid and the presentation for the Adopted Schools programme in the district. During the ceremony, a total of RM435,695 was disbursed to 180 students from both public and private institutions of higher learning pursuing various academic qualifications, including Science Certificates, Diplomas, Bachelor's Degrees, Master's and Doctorate degrees. The event also recognised outstanding academic achievements, awarding RM1,000 each to a Keningau student who attained 12 A's and three students who secured 10 A's in the recent Sijil Pelajaran Malaysia (SPM) examination at SM Ken Hwa. A total of 173 secondary school students from the district received free eyeglasses as part of the educational assistance programme. In addition to student aid, public libraries across Sabah including branches in Keningau, Lahad Datu, Kunak, Membakut, Tuaran, Semporna, Sandakan, Tawau, Beaufort, Ranau and Kota Marudu were recipients of educational tablets to enhance learning resources. The ceremony also featured support for the Bahasa Sahabat programme, which aims to strengthen the Malay language and improve English proficiency across four Malaysian Teacher Education Institutes (IPGM) campuses located in Kampus Kent, Keningau, Tawau, and Gaya Kinabalu. Aid for school activities was further extended through the Bagus programme and Sabah Sukes initiatives, benefiting the Keningau District Education Office (PPD) and the Sabah State Islamic Religious Affairs Department (Jheains). Two Adopted Schools which is SK Banjar and SMK Bingkor, were also awarded grants of RM5,000 and RM10,000 respectively. The event was graced by the presence of Assistant Minister of Community Development and People's Well-being Datuk Flovia Ng, who is also the Tulid assemblyman, the Director of the Sabah Education Department and senior officials from Yayasan Sabah Group and the Ministry of Science, Technology and Innovation. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
