(22-11-2014, 05:44 PM)leeeta Wrote: [ -> ] (22-11-2014, 01:12 PM)leeeta Wrote: [ -> ]http://nextinsight.net/index.php/story-a...ubei-plant
Slides from 14 nov briefing http://www.grandnessgroups.com/ImageUplo...15c763.pdf
Thanks for the update!
Seems like a well prepared slide. Before we get in to the details, how was their body language? Were they speaking with confidence? How did they present themselves on that day?
Edit: And kidding aside, I must say Parry Ng must really pull up his socks in terms of Investor Relations. Their website is really outdated, especially the English section.
Garden Fresh IPO Delay
My question is whether the delay is now due to:
a)Regulatory/Compliance issues with HKEX
or
b) Management i.e.to select the most propitious date for the IPO
perhaps April/May but not later!
As the IPO is the key catalyst for the stock an answer would be important for investors.
PGL[/size][/font]
http://nextinsight.net/index.php/story-a...ubei-plant
The video on the new Hubei plant that started operations in Oct shows that it is highly automated.
Who to believe? The shortseller who claims that his staff stationed outside the factory in Sep saw little activity, or this video?
(Vested)
(20-11-2014, 11:43 AM)specuvestor Wrote: [ -> ] (19-11-2014, 11:00 PM)portuser Wrote: [ -> ] (19-11-2014, 12:24 PM)specuvestor Wrote: [ -> ]In addition just want to understand if I am reading it right: Capex also can claim VAT? I always thought it is only for sale of goods and services ie transaction related.
"When the Hubei factory was being built, the subsidiary paid the construction costs plus input VAT. The input VAT that is with the local tax department has remained as VAT receivable in Sino’s accounts and can be used to offset the output VAT on products sold by the Hubei subsidiary in the future"
Firm runs into VAT in two ways.
When firm A buys goods or services, it pays the vendor the purchase price plus VAT. The VAT is known as input VAT incurred by firm A.
When firm A sells goods to firm B, firm A charges the selling price plus VAT. The VAT is known as output VAT collected by A. This same VAT is also the input VAT incurred by firm B.
VAT operates on the principle that firms in the value chain do not bear the burden of input VATs. The input VATs they incur can be set off against the output VATs they collect. The burden of VAT is solely borne by final consumers.
The Hubei factory is where raw materials are converted into beverages. The input VAT incurred by the Hubei subsidiary for constructing the factory as well as the input VAT incurred for raw material purchases are treated on the same footing.
Thanks portuser I know and understand what you have explained except for the following which I assume you are saying YES to capex being an input tax:
"The input VAT incurred by the Hubei subsidiary for constructing the factory"
This is something that I am not aware and will find out more. Thanks
An update from my tax accounting friend:
Whether the VAT incurred for capex can be claimable or not will depend on whether it is making taxable supply or exempt supply.
(24-11-2014, 12:25 PM)specuvestor Wrote: [ -> ]An update from my tax accounting friend:
Whether the VAT incurred for capex can be claimable or not will depend on whether it is making taxable supply or exempt supply.
You may wish to refer to IRAS website:
http://www.iras.gov.sg/irashome/page.aspx?id=1780, which states:
“GST is a broad-based consumption tax levied on the import of goods (collected by Singapore Customs), as well as nearly all supplies of goods and services in Singapore. The only exemptions are for the sale and lease of residential properties, the importation and local supply of investment precious metals and the provision of most financial services. Export of goods and international services are zero-rated. In some countries, GST is known as the Value Added Tax (VAT).”
The exemption list in Singapore is short.
I do not know what are the exempt supplies in China, but beverage sales are taxable.
Of the RMB 288m other receivables on Sino’s balance sheet (as at 31 Dec 13), RMB 120m (RMB 69m VAT receivable and RMB 51m export tax refunds) was owed by government, RMB 64m was prepayment to Anhui Government for a piece of land. The remaining RMB 100m were prepayments to contractors and suppliers.
Any idea what is the cause of the sharp price movement today?
I don't think anything happened to SFIG, its just the usual market volatility
<vested>
(08-12-2014, 11:02 PM)CY09 Wrote: [ -> ]I don't think anything happened to SFIG, its just the usual market volatility
<vested>
The company share price is hovering at a sensitive price level, 40 cents. It will impose uncertainties on Thai's Towkay's participation...
(not vested)
CityFarmer Wrote:The company share price is hovering at a sensitive price level, 40 cents. It will impose uncertainties on Thai's Towkay's participation... (not vested)
what is the implication if the Thai bosses don't participate ? The share price will drop further ? Doesn't this structure skew the risk to downside ? (IMHO)
It's not about structure it's about trust now