Recommending Guthrie
- Thread starter skymusic72
- Start date
ccostagmont
Great Supremacy Member
- Joined
- Jul 18, 2007
- Messages
- 72,644
- Reaction score
- 3,454
ga 1821 should buy up more. den... announce dat they will be taking the entire company private ala scglobal.
hohoho... take it to $1/share.
*wishful thinking*
nothinisimpossiblewiftime
Arch-Supremacy Member
- Joined
- May 22, 2007
- Messages
- 13,004
- Reaction score
- 0
indonesian boss
ccostagmont
Great Supremacy Member
- Joined
- Jul 18, 2007
- Messages
- 72,644
- Reaction score
- 3,454
tiagong many listed companies recently want to divest prop into reits... sph oso doing now...
will guthrie & leekimtah finally do it for zoolong pt?
will guthrie & leekimtah finally do it for zoolong pt?
Dividends Warrior
Arch-Supremacy Member
- Joined
- Nov 7, 2010
- Messages
- 24,582
- Reaction score
- 2,533
There is possibility......
ccostagmont
Great Supremacy Member
- Joined
- Jul 18, 2007
- Messages
- 72,644
- Reaction score
- 3,454
ccostagmont
Great Supremacy Member
- Joined
- Jul 18, 2007
- Messages
- 72,644
- Reaction score
- 3,454
guthrie gets into trouble now?
tio sabo-ed by its auditors pwc:
GUTHRIE GTS LIMITED
(Incorporated in the Republic of Singapore)
Company Registration Number 196800390N
EMPHASIS OF MATTER BY INDEPENDENT AUDITOR ON THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2012
In compliance with Rule 704(5) of the Listing Manual of the Singapore Exchange Securities Trading Limited, the Board of Directors of Guthrie GTS Limited (the “Company”) wishes to announce that the Company’s Independent Auditor, PricewaterhouseCoopers LLP, has issued its Independent Auditor’s Report for the financial statements of the Company and its subsidiaries (the “Group”) for the financial year ended 31 December 2012 containing an emphasis of matter without qualifying the audit opinion.
The emphasis of matter draws attention to Note 38(c) to the financial statements which describes the uncertainty relating to tax assessments of Jurong Point Realty Limited, a joint
venture company of the Group. The nature and contents of the emphasis of matter are contained in the Independent
Auditor’s Report, and a copy of which is attached together with Note 38(c) for shareholders’ reference. The Independent Auditor’s Report and a complete set of the financial statements of the Group for the financial year ended 31 December 2012 can be found in the Company’s Annual Report 2012 which will be printed and despatched to shareholders shortly.
BY ORDER OF THE BOARD
Jerome Jansen
Company Secretary
28 March 2013
==================================
38. CONTINGENT LIABILITIES
(c) At 31 December 2012, the Group recorded a tax recoverable of approximately $2.5 million (2011: $2.5 million), being its 50% share of the tax paid by a joint venture company, Jurong Point Realty Limited ("JPRL") for the Year of Assessment ("YA") 2005 and YA 2006 arising from the disallowance of certain interest expense by the Comptroller of Income Tax ("CIT").
In 2011, the CIT issued additional assessments for YA 2005 and YA 2006 to JPRL on the basis that interest expenses incurred on coupon payments on subordinated bonds issued by JPRL to its shareholders are not tax deductible expenses. On 28 November 2011, through its tax legal counsel, JPRL submitted its objection to the assessments. Following the same basis, the CIT issued additional assessments of $8.99 million (Group's share: $4.49 million) for YA 2007 and YA 2008 on 28 December 2012. On 7 January 2013, through its tax legal counsel, JPRL also submitted its objection to the assessments for YA 2007 and YA 2008.
The additional assessments for YA 2005 to YA 2008 are protective in nature as the CIT had to issue these assessments before 31 December 2012, pending his further evaluation of the matter. The additional assessments for YA 2007 and YA 2008 were paid on 6 February 2013. Accordingly, no tax recoverable was recorded as at 31 December 2012 for YA 2007 and YA 2008.
Arising from the above additional assessments raised by the CIT, JPRL has paid additional income tax totalling $13.99 million (the Group's share: $6.99 million) to date, under objection and protest, to avoid any late interest penalty, notwithstanding the fact that JPRL is currently strongly appealing against CIT's position.
To date, the CIT has not raised additional assessments for YA 2009 onwards. If the CIT applie the same basis to JPRL's tax assessments from YA 2009 to the financial year ended 31 December 2012 ("YA 2013"), JPRL may be exposed to additional taxes of approximately $20.33 million (Group's share: $10.17 million). The Group's share of the total tax exposure would amount to $17.16 million for YA 2005 to YA 2013 (2011: $15.15 million for YA 2005 to YA 2012).
Based on the advice of the Group's tax legal counsel, the directors of the Company are of the opinion that the interest expense incurred on coupon payments on the subordinated bonds issued by JPRL are tax deductible. Accordingly, no tax provision has been made for YA 2005 to YA 2013 in the financial statements for the financial year ended 31 December 2012 in respect of the above matter.
JPRL is continuing its appeal effort through its tax legal counsel.
tio sabo-ed by its auditors pwc:
GUTHRIE GTS LIMITED
(Incorporated in the Republic of Singapore)
Company Registration Number 196800390N
EMPHASIS OF MATTER BY INDEPENDENT AUDITOR ON THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2012
In compliance with Rule 704(5) of the Listing Manual of the Singapore Exchange Securities Trading Limited, the Board of Directors of Guthrie GTS Limited (the “Company”) wishes to announce that the Company’s Independent Auditor, PricewaterhouseCoopers LLP, has issued its Independent Auditor’s Report for the financial statements of the Company and its subsidiaries (the “Group”) for the financial year ended 31 December 2012 containing an emphasis of matter without qualifying the audit opinion.
The emphasis of matter draws attention to Note 38(c) to the financial statements which describes the uncertainty relating to tax assessments of Jurong Point Realty Limited, a joint
venture company of the Group. The nature and contents of the emphasis of matter are contained in the Independent
Auditor’s Report, and a copy of which is attached together with Note 38(c) for shareholders’ reference. The Independent Auditor’s Report and a complete set of the financial statements of the Group for the financial year ended 31 December 2012 can be found in the Company’s Annual Report 2012 which will be printed and despatched to shareholders shortly.
BY ORDER OF THE BOARD
Jerome Jansen
Company Secretary
28 March 2013
==================================
38. CONTINGENT LIABILITIES
(c) At 31 December 2012, the Group recorded a tax recoverable of approximately $2.5 million (2011: $2.5 million), being its 50% share of the tax paid by a joint venture company, Jurong Point Realty Limited ("JPRL") for the Year of Assessment ("YA") 2005 and YA 2006 arising from the disallowance of certain interest expense by the Comptroller of Income Tax ("CIT").
In 2011, the CIT issued additional assessments for YA 2005 and YA 2006 to JPRL on the basis that interest expenses incurred on coupon payments on subordinated bonds issued by JPRL to its shareholders are not tax deductible expenses. On 28 November 2011, through its tax legal counsel, JPRL submitted its objection to the assessments. Following the same basis, the CIT issued additional assessments of $8.99 million (Group's share: $4.49 million) for YA 2007 and YA 2008 on 28 December 2012. On 7 January 2013, through its tax legal counsel, JPRL also submitted its objection to the assessments for YA 2007 and YA 2008.
The additional assessments for YA 2005 to YA 2008 are protective in nature as the CIT had to issue these assessments before 31 December 2012, pending his further evaluation of the matter. The additional assessments for YA 2007 and YA 2008 were paid on 6 February 2013. Accordingly, no tax recoverable was recorded as at 31 December 2012 for YA 2007 and YA 2008.
Arising from the above additional assessments raised by the CIT, JPRL has paid additional income tax totalling $13.99 million (the Group's share: $6.99 million) to date, under objection and protest, to avoid any late interest penalty, notwithstanding the fact that JPRL is currently strongly appealing against CIT's position.
To date, the CIT has not raised additional assessments for YA 2009 onwards. If the CIT applie the same basis to JPRL's tax assessments from YA 2009 to the financial year ended 31 December 2012 ("YA 2013"), JPRL may be exposed to additional taxes of approximately $20.33 million (Group's share: $10.17 million). The Group's share of the total tax exposure would amount to $17.16 million for YA 2005 to YA 2013 (2011: $15.15 million for YA 2005 to YA 2012).
Based on the advice of the Group's tax legal counsel, the directors of the Company are of the opinion that the interest expense incurred on coupon payments on the subordinated bonds issued by JPRL are tax deductible. Accordingly, no tax provision has been made for YA 2005 to YA 2013 in the financial statements for the financial year ended 31 December 2012 in respect of the above matter.
JPRL is continuing its appeal effort through its tax legal counsel.
Dividends Warrior
Arch-Supremacy Member
- Joined
- Nov 7, 2010
- Messages
- 24,582
- Reaction score
- 2,533
They nber pay taxes????
ccostagmont
Great Supremacy Member
- Joined
- Jul 18, 2007
- Messages
- 72,644
- Reaction score
- 3,454
They nber pay taxes????
they paid up to 13.99 mil riao.
but from 2009 to 2013 one - haven't pay yet - becos de taxman still haven't charge them yet.
so they will kena another 20 mil more in taxes.
good news is they will likely pay up if kena - but continue to kpkb thru' their legal counsel to the taxman.
bad news is, the directors never include the possible tax into the budget yet.
Dividends Warrior
Arch-Supremacy Member
- Joined
- Nov 7, 2010
- Messages
- 24,582
- Reaction score
- 2,533
ccostagmont
Great Supremacy Member
- Joined
- Jul 18, 2007
- Messages
- 72,644
- Reaction score
- 3,454
VOLUNTARY UNCONDITIONAL CASH OFFER
by
CIMB BANK BERHAD (13491-P)
Singapore Branch
(Incorporated in Malaysia)
for and on behalf of
UNITED SM HOLDINGS PTE. LTD.
(Company Registration No.: 201315922M)
(Incorporated in Singapore)
to acquire all the issued and paid-up ordinary shares in the capital of
GUTHRIE GTS LIMITED
(Company Registration No.: 196800390N)
(Incorporated in Singapore)
OFFER ANNOUNCEMENT
by
CIMB BANK BERHAD (13491-P)
Singapore Branch
(Incorporated in Malaysia)
for and on behalf of
UNITED SM HOLDINGS PTE. LTD.
(Company Registration No.: 201315922M)
(Incorporated in Singapore)
to acquire all the issued and paid-up ordinary shares in the capital of
GUTHRIE GTS LIMITED
(Company Registration No.: 196800390N)
(Incorporated in Singapore)
OFFER ANNOUNCEMENT
The Offer
CIMB Bank Berhad, Singapore Branch (“CIMB”) wishes to announce, for and on behalf of United SM Holdings Pte. Ltd. (the “Offeror”), that the Offeror intends to make a voluntary unconditional cash offer (the “Offer”) for all the issued and paid-up ordinary shares (the “Shares”) in the capital of Guthrie GTS Limited (“Guthrie” or the “Company”).
For each Offer Share: S$0.880 in cash (the “Offer Price”)
Last edited:
Wow...Congrats to all Guthrie shareholders...VOLUNTARY UNCONDITIONAL CASH OFFER
by
CIMB BANK BERHAD (13491-P)
Singapore Branch
(Incorporated in Malaysia)
for and on behalf of
UNITED SM HOLDINGS PTE. LTD.
(Company Registration No.: 201315922M)
(Incorporated in Singapore)
to acquire all the issued and paid-up ordinary shares in the capital of
GUTHRIE GTS LIMITED
(Company Registration No.: 196800390N)
(Incorporated in Singapore)
OFFER ANNOUNCEMENT
The Offer
CIMB Bank Berhad, Singapore Branch (“CIMB”) wishes to announce, for and on behalf of United SM Holdings Pte. Ltd. (the “Offeror”), that the Offeror intends to make a voluntary unconditional cash offer (the “Offer”) for all the issued and paid-up ordinary shares (the “Shares”) in the capital of Guthrie GTS Limited (“Guthrie” or the “Company”).
For each Offer Share: S$0.880 in cash (the “Offer Price”)
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ Forums. Forum members and moderators are responsible for their own posts.
Please refer to our Community Guidelines and Standards and Terms and Conditions for more information.
