Latest news with #RM5.02
New Straits Times
24-07-2025
- Business
- New Straits Times
Court drops Anwar, govt from Mukhriz's RM5mil tax suit
KUALA LUMPUR: Prime Minister Datuk Seri Anwar Ibrahim and the government have been excluded from Datuk Seri Mukhriz Mahathir's RM5.02 million tax arrears suit. High Court judge Datuk Amarjeet Singh today allowed Anwar, in his capacity as Finance Minister, and the government's application to strike out their names from the suit. This means the case will now proceed solely between the former Jerlun Member of Parliament and the Inland Revenue Board (IRB). However, the court dismissed an application by senior federal counsel Irmawati Daud to strike out several paragraphs in Mukhriz's affidavit that referred to Anwar and the government. Mukhriz was represented by lawyer Syed Afiq Syed Albakri. The 60-year-old politician filed the judicial review application on Dec 20 last year, naming the IRB director-general, Anwar, and the government as the first to third respondents. He is seeking to quash the IRB's action in issuing a notice requiring him to pay more than RM5 million in taxes for the assessment years 2017 to 2019. The tax authority is demanding that the former Kedah menteri besar settle RM2.56 million for 2017, RM2.44 million for 2018, and RM16,826.37 for 2019. On April 16 this year, the same court granted Mukhriz's application to stay the assessment notice pending the outcome of his judicial review to have the notice quashed. Mukhriz has alleged that Anwar, in his capacity as Finance Minister, abused his position for collateral purposes by exerting control over the IRB to serve his own interests. The Parti Pejuang Tanah Air president claimed that additional tax assessment notices for 2017 and 2018 were issued on Sept 27, 2024 — more than five years after he had filed his tax returns for those years. He is seeking a certiorari order to quash the IRB's decision to issue the additional tax assessments for 2017, 2018, and 2019 on the grounds that they are void and ultra vires. Mukhriz is also seeking a certiorari order to nullify the IRB's issuance of a certificate under Section 104(1) of the Income Tax Act (ITA), along with a declaration that the imposition of a penalty under Section 113(2) of the same Act is null and void. In addition, he is claiming general and/or exemplary damages against the first and second respondents, and vicariously against the third respondent.
New Straits Times
08-05-2025
- New Straits Times
Elderly man loses RM5mil to non-existent investment scheme
KUALA LUMPUR: An elderly man lost RM5.02 million after falling victim to a non-existent investment scheme on social media. Selangor deputy police chief Deputy Commissioner Zaini Abu Hassan said the 72-year-old company manager was attracted by an advertisement in early March and contacted the suspect via WhatsApp. "The victim was added to the WhatsApp group before being told to download an app and register as a new investor. "During that time, the victim made periodical cash transactions to four different accounts totalling RM5.02 million," he said in a statement today. Zaini said the victim lodged a police report in Serdang after realising he had been duped when he was asked to make additional payments for tax purposes to get back the money he had invested, adding that the case is being investigated under Section 420 of the Penal Code for cheating. He also advised the public to always be cautious of investment offers on social media which promised lucrative and unreasonable returns, especially schemes not recognised by Bank Negara Malaysia (BNM) or the Securities Commission Malaysia (SC). – Bernama
The Sun
08-05-2025
- The Sun
Elderly man loses RM5.02 mln to non-existent investment scheme
KUALA LUMPUR: An elderly man lost RM5.02 million after falling victim to a non-existent investment scheme on social media. Selangor deputy police chief DCP Zaini Abu Hassan said the 72-year-old company manager was attracted by an advertisement in early March and contacted the suspect via WhatsApp. 'The victim was added to the WhatsApp group before being told to download an app and register as a new investor. 'During that time, the victim made periodical cash transactions to four different accounts totalling RM5.02 million,' he said in a statement today. Zaini said the victim lodged a police report in Serdang after realising he had been duped when he was asked to make additional payments for tax purposes to get back the money he had invested, adding that the case is being investigated under Section 420 of the Penal Code for cheating. He also advised the public to always be cautious of investment offers on social media which promised lucrative and unreasonable returns, especially schemes not recognised by Bank Negara Malaysia (BNM) or the Securities Commission Malaysia (SC).
Yahoo
11-03-2025
- Business
- Yahoo
Estimating The Intrinsic Value Of Press Metal Aluminium Holdings Berhad (KLSE:PMETAL)
The projected fair value for Press Metal Aluminium Holdings Berhad is RM6.27 based on 2 Stage Free Cash Flow to Equity Press Metal Aluminium Holdings Berhad's RM5.02 share price indicates it is trading at similar levels as its fair value estimate Analyst price target for PMETAL is RM6.27 which is similar to our fair value estimate Does the March share price for Press Metal Aluminium Holdings Berhad (KLSE:PMETAL) reflect what it's really worth? Today, we will estimate the stock's intrinsic value by taking the expected future cash flows and discounting them to their present value. We will take advantage of the Discounted Cash Flow (DCF) model for this purpose. It may sound complicated, but actually it is quite simple! We would caution that there are many ways of valuing a company and, like the DCF, each technique has advantages and disadvantages in certain scenarios. For those who are keen learners of equity analysis, the Simply Wall St analysis model here may be something of interest to you. View our latest analysis for Press Metal Aluminium Holdings Berhad We are going to use a two-stage DCF model, which, as the name states, takes into account two stages of growth. The first stage is generally a higher growth period which levels off heading towards the terminal value, captured in the second 'steady growth' period. In the first stage we need to estimate the cash flows to the business over the next ten years. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years. Generally we assume that a dollar today is more valuable than a dollar in the future, and so the sum of these future cash flows is then discounted to today's value: 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Levered FCF (MYR, Millions) RM1.81b RM2.25b RM1.74b RM2.66b RM3.45b RM3.92b RM4.34b RM4.71b RM5.04b RM5.35b Growth Rate Estimate Source Analyst x2 Analyst x4 Analyst x2 Analyst x1 Analyst x1 Est @ 13.66% Est @ 10.64% Est @ 8.53% Est @ 7.05% Est @ 6.02% Present Value (MYR, Millions) Discounted @ 10% RM1.6k RM1.9k RM1.3k RM1.8k RM2.1k RM2.2k RM2.2k RM2.2k RM2.1k RM2.0k ("Est" = FCF growth rate estimated by Simply Wall St)Present Value of 10-year Cash Flow (PVCF) = RM19b The second stage is also known as Terminal Value, this is the business's cash flow after the first stage. For a number of reasons a very conservative growth rate is used that cannot exceed that of a country's GDP growth. In this case we have used the 5-year average of the 10-year government bond yield (3.6%) to estimate future growth. In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 10%. Terminal Value (TV)= FCF2034 × (1 + g) ÷ (r – g) = RM5.3b× (1 + 3.6%) ÷ (10%– 3.6%) = RM85b Present Value of Terminal Value (PVTV)= TV / (1 + r)10= RM85b÷ ( 1 + 10%)10= RM32b The total value is the sum of cash flows for the next ten years plus the discounted terminal value, which results in the Total Equity Value, which in this case is RM52b. To get the intrinsic value per share, we divide this by the total number of shares outstanding. Compared to the current share price of RM5.0, the company appears about fair value at a 20% discount to where the stock price trades currently. Valuations are imprecise instruments though, rather like a telescope - move a few degrees and end up in a different galaxy. Do keep this in mind. We would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows. If you don't agree with these result, have a go at the calculation yourself and play with the assumptions. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Press Metal Aluminium Holdings Berhad as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 10%, which is based on a levered beta of 1.104. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business. Strength Earnings growth over the past year exceeded the industry. Debt is not viewed as a risk. Dividends are covered by earnings and cash flows. Weakness Dividend is low compared to the top 25% of dividend payers in the Metals and Mining market. Opportunity Annual earnings are forecast to grow faster than the Malaysian market. Current share price is below our estimate of fair value. Threat Annual revenue is forecast to grow slower than the Malaysian market. Valuation is only one side of the coin in terms of building your investment thesis, and it shouldn't be the only metric you look at when researching a company. DCF models are not the be-all and end-all of investment valuation. Rather it should be seen as a guide to "what assumptions need to be true for this stock to be under/overvalued?" For example, changes in the company's cost of equity or the risk free rate can significantly impact the valuation. For Press Metal Aluminium Holdings Berhad, there are three important aspects you should consider: Financial Health: Does PMETAL have a healthy balance sheet? Take a look at our free balance sheet analysis with six simple checks on key factors like leverage and risk. Future Earnings: How does PMETAL's growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with our free analyst growth expectation chart. Other High Quality Alternatives: Do you like a good all-rounder? Explore our interactive list of high quality stocks to get an idea of what else is out there you may be missing! PS. The Simply Wall St app conducts a discounted cash flow valuation for every stock on the KLSE every day. If you want to find the calculation for other stocks just search here. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
