ACQUISITION OF BLUMONT SHARES BY CHAIRMAN DESIGNATE - Alexander Molyneux

The Board of Directors of Blumont Group Ltd. (博诺有限公司) (the "Company") refers to the announcement by the Company dated 7 October 2013 (the "Initial Announcement") on the proposed acquisition by Mr. Alexander Molyneux, Chairman designate of the Company, of 135 million issued ordinary shares ("Shares") in the Company (the "Acquisition"). All terms used in this announcement shall bear the same meanings ascribed to them in the Initial Announcement unless otherwise defined herein.

Mr. Molyneux has informed the Company that the parties to the Acquisition have agreed to extend the completion period of the Acquisition by 30 days. The Acquisition is now expected to be completed on or before 6 December 2013.

The Company will update Shareholders on completion of the Acquisition. In the interim, Mr. Molyneux will remain as Chairman designate of the Company

http://infopub.sgx.com/FileOpen/BGL_UpdateAcquisitionofshares_08102013.ashx?App=Announcement&FileID=263305

Mining businessman to buy stake in Singapore's Blumont, become chairman

Mining businessman Alexander Molyneux will acquire a 7.8 percent stake in Blumont Group Ltd (BLUM.SI) and become its chairman, the Singapore-listed diversified holding company.

Molyneux agreed to buy 95 million Blumont shares from Neo Kim Hock, the company's executive chairman, and 40 million from an unnamed individual investor, Blumont said in a stock exchange filing.

The 135 million shares represent 7.83 percent of Blumont's total issued shares on Monday and will be around 5.22 percent of the company's enlarged share capital after the completion of a planned rights issue.

http://www.reuters.com/article/2013/10/07/us-blumont-idUSBRE9960R620131007

SouthGobi Resources fires CEO Alex Molyneux after Chalco drops bid

Mining giant Rio Tinto Ltd. has terminated the chief executive of SouthGobi Resources Ltd., removing one of the only remaining links to the Robert Friedland era in its Mongolian business.

http://business.financialpost.com/2012/09/12/southgobi-resources-fires-ceo-after-chalco-drops-bid/

G & W Group building materials division of Koh Brothers Group

G & W Group Established in 1979, G & W Group is today a renowned one-stop quality building materials provider in Singapore and Asia. The group's core businesses are in providing ready-mix concrete, interlocking paving blocks, cultured stone®, precast concrete products as well as renting and selling concrete pumps. Each core business is assigned and managed by a unique team of professionals.
	G & W Group of companies is the building materials division of Koh Brothers Group Limited which is listed on the main board of the Singapore Exchange Limited. G & W Group has a strong presence in Singapore, China, Indonesia and Malaysia. Together with a strong fleet of equipment and modern manufacturing facilities, the group consistently churns out products and services of supreme quality http://www.gw-group.com/

A Conceptual Approach to Singapore Taxation - Poh Eng Hin

Description

A book on Singapore income taxation and the goods and services tax presented along the lines of a seven-point conceptual framework comprising:

(1) Jurisdiction;
(2) Base;
(3) Allocation;
(4) Person;
(5) Cross-Border Linkages;
(6) Tax Expenditures; and
(7) Administration.

General Information

 

Author: Poh Eng Hin / Deborah M.Y. Poh

(Special thanks to Ms Dora Lim for being the principal author of Appendix 23-1 of the book)

Institution author affiliated to: Nanyang Business School, Nanyang Technological University, Singapore...

(Disclaimer: The views expressed in the book are the author’s own and do not necessarily reflect those of any institution to which the author is affiliated. While every effort has been taken to ensure the accuracy and completeness of the publication, the author expressly disclaims liability for any loss that may occasion to any party from any reliance placed on the work.)

Publisher: Pearson Education

ISBN: 978-981-45-2698-2

Year of publication: 2013 (1st edition)

No. of pages (main content): 922

 

 

 

Table of Contents:

PART 1: INTRODUCTION AND THE CONCEPTUAL FRAMEWORK
Overview of Part 1
Chapter 1: Introduction to Taxation
Chapter 2: The Conceptual Framework and The Legal Framework
Chapter 3: The Conceptual Framework Applied to Income Taxation

PART 2: JURISDICTION
Overview of Part 2
Chapter 4: Defining the Income Tax Jurisdiction
Chapter 5: Defining Heads of Charge
Chapter 6: Determining the Residence of the Person
Chapter 7: Locating the Geographical Source of the Income

PART 3: BASE
Overview of Part 3
Chapter 8: Exemptions
Chapter 9: Deductions
Chapter 10: Capital Allowances
Chapter 11: Quantifying Statutory Income
Chapter 12: Quantifying Assessable Income
Chapter 13: Quantifying Chargeable Income

PART 4: PERSON
Overview of Part 4
Chapter 14: Income Tax Aspects Peculiar to Companies
Chapter 15: Income Tax Aspects Peculiar to Individuals
Chapter 16: Taxation of Partnership Income
Chapter 17: Taxation of Other Entities

PART 5: CROSS-BORDER LINKAGES
Overview of Part 5
Chapter 18: Double Taxation and Tax Treaties
Chapter 19: Residents Receiving Foreign Income in Singapore
Chapter 20: Non-Residents Deriving Singapore Income

PART 6: ALLOCATION
Overview of Part 6
Chapter 21: Further Allocation Issues

PART 7: ADMINISTRATION
Overview of Part 7
Chapter 22: Income Tax Administration

PART 8: TAX EXPENDITURES
Overview of Part 8
Chapter 23: Overview of Income Tax Incentives

PART 9: GOODS AND SERVICES TAX
Overview of Part 9
Chapter 24: Introduction to the GST
Chapter 25: GST in Singapore


ORDER / CONTACT DETAILS:
To order the book or to contact the author, please send a private message via this Facebook page.

https://www.facebook.com/pages/A-Conceptual-Approach-to-Singapore-Taxation/515803501818636

Asiasons 30mins chart as at 7 Nov 2013 1215pm - Channels In Play

Gap support indicated by green band and blue channel mid-band support zone are being tested.

The mid-band of the blue channel was acting as a resistance zone initially as seen by the yellow area and this former resistance band later turned into support band as indicated by the orange regions.

A successful bounce from the blue mid-channel band will see next resistance at the upper zone of the red downward channel being tested. A strong upward breakout above the red channel will propel price towards the upper boundary of the blue.

Conversely, a failure of the blue mid-band support will result in a slide towards the lower support of the red channel and any further weakness will retest the lower blue channel support.

Remember to be as nimble as a deer.

http://advocacy.britannica.com/blog/advocacy/2008/12/the-white-deer-at-the-seneca-army-depot/

Investor Central established by former CNBC presenter Mark Laudi

We ask the questions that need to be asked.

Investors frequently need more information before they can make an informed investment decision - even about companies which fully comply with exchange-mandated continuous disclosure obligations.

We bring investors and companies closer together by fostering improved communications.

Who is behind Investor Central?

Investor Central was established by former CNBC presenter Mark Laudi. During his seven years with the channel, he anchored and produced programs, and covered Southeast Asian and Australian stocks on the stocks desk of Squawk Box. Mark joined CNBC after seven years as a radio presenter, first at Australian Broadcasting Corporation and later on MediaCorp Radio NewsRadio 93.8 (now 938LIVE). He is also a frequent emcee and moderator of investment seminars and business events.

Known for asking tough questions of on-air guests and of speakers at investment seminars, he and his team of reporters get to the heart of the matter to ask the questions investors want answers to. Our philosophy is simple: if a company's announcement gives rise to further questions, they should be asked. The company is always given an opportunity to respond before our publication deadline. If the questions are important enough to be asked, they should be made public - whether the company has answered them or not. And not just listed companies. We also put analyst reports under the microscope. Read on to find out more. http://www.investorcentral.org/company.php

Shipbuilder JES to venture massively into mining

JES International Holdings is massively diversifying from being a major private shipbuilding group based in the PRC to owning mines in the Xinjiang Uygur autonomous region of China.

JES has entered into a conditional investment agreement with Mineriver Pte Ltd for the acquisition of up to a 30% stake in Mineriver for S$127.0 million.

Mineriver is a Singapore-incorporated company which will acquire the entire issued share capital of a Xinjiang company, which holds mineral exploration rights in the Xinjiang Uygur. The mineral exploration rights are with respect to metals and minerals, which includes magnesium and nickel.

Mineriver is expected to obtain the relevant mining rights and operate production lines to manufacture magnesium products.

The Xinjiang company, Xinjiang Feng Li De Yuan Trading Co, had a net value of 381,000 yuan (S$77,590) as at July 31, according to an independent valuation report dated Oct 22 by Xinjiang Tiannuo Zhengxin Assets Appraisal Ltd Co.
The valuation does not include the magnesium and nickel assets of the firm, which are believed to be worth at least $60 billion.

As no proper valuation exercise of the assets has been carried out, the $60 billion was based on internal consensus, JES chief financial officer Patrick Kan told The Business Times.

This is just a yardstick which the owner of the mine and the introducer is confident of reaching," he said. "Based on this $60 billion, compared to the amount we are going to invest, it is very good value."

Read more at http://www.nextinsight.net/index.php/story-archive-mainmenu-60/919-2013/7629-shipbuilder-jes-ventures-massively-into-mining

Blumont 10 mins chart as at 5th Nov 2013 - Symmetrical Triangle Formation

10 mins chart of Blumont as at 5th Nov 2013 1140am.

Symmetrical triangle formation is observed.

Upward breakout will retest next resistance indicated by the yellow zone.  A strong upthrust above this yellow region will probably propel price towards 0.159 cents.

Immediate support is the light blue band. Breakdown below symmetrical triangle lower boundary will plummet price towards violet support zone.

Symmetrical triangle formation will be invalid if breakup or breakdown does not happen before reaching its apex. This failure will most likely result in a trading range between the yellow and light blue bands.

Be alert and nimble. Highly volatile only for the brave and strong hearts.