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GEORGE TOWN: A businessman from Port Dickson lost a record RM21mil in a Macau scam after he allegedly revealed his bank Transaction Authorisation Code (TAC) numbers to a “bank official”. However, the 63-year-old victim was not from Penang as reported recently, said Selangor Commercial Crime Investigation Department (CCID) chief Asst Comm Azman Ali. “The victim is a millionaire and has several businesses in Bukit Kemuning, Shah Alam, and Kuala Lumpur. “From the report that we received from the victim, he is from Port Dickson and not Penang as alleged,” he said briefly when contacted. The case is believed to be the biggest Macau scam ever recorded by the police for a single victim in recent years. ACP Azman said the victim lodged a police report in Shah Alam on May 6 after realising that his money had been transferred to other unknown accounts. It was reported that the victim is a millionaire and founder of a domestic energy company that has a net worth of over RM100mil. … [Read more...] about RM21mil lost in giant Macau scam

As taxpayers face technical glitches on the GST portal, the government on Tuesday extended the due date for April tax payment till May 24 and has directed Infosys for early resolution of the problem. “The due date for filing FORM GSTR-3B for the month of April 2022 has been extended till 24th May 2022,” the Central Board of Indirect Taxes and Customs (CBIC) said in a late-night tweet. Earlier in the day, the CBIC had said that a technical glitch has been reported by Infosys in the generation of April GSTR-2B and auto-population of GSTR-3B on the portal. “Infosys has been directed by Govt for early resolution. Technical team is working to provide GSTR-2B & correct auto-populated GSTR-3B at the earliest,” the CBIC tweeted. GSTR-2B is an auto-drafted Input Tax credit (ITC) statement which is available to every GST registered entity based on the information furnished by their suppliers in their respective sales return form GSTR-1. Close GSTR-2B statement is … [Read more...] about Government extends April GST payment deadline till May 24

"India’s specialty chemicals industry is a decadal growth opportunity and it is still not too late to participate in the value creation process. We prefer CRAMS/CSM players Navin Fluorine (Navin) and PI Industries (PI) as they provide long-term earnings visibility. We also like UPL due to robust growth outlook and reducing debt concerns and SRF due to rising contribution from the chemicals business," JM Financial research report. Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Sharekhan's research report on LIC Housing Finance LIC Housing Finance reported better-than-expected operating performance led by lower credit costs in Q4FY22. NII beat ours and the street’s expectations and was at Rs. 1,637 crore versus our estimate of Rs. 1,498 crore, rising by ~9% y-o-y and ~13% q-o-q. The company posted a PAT of Rs. 1,119 crore versus … [Read more...] about Buy LIC Housing Finance: target of Rs 505: Sharekhan

The GST Council is likely to consider modification in summary return and monthly tax payment form, GSTR-3B, in its meeting next month, with a view to check fake input tax credit claims and expedite settlement of genuine ones, an official said. According to officials, the modified form will provide clarity with regard to gross input tax credit (ITC) due to the taxpayer, the amount claimed in a particular month and the net amount left in the taxpayer's ledger. A meeting of the Goods and Services Tax (GST) Council, the highest decision making body in the GST matter, is likely to be held next month. The modified form will help in checking bogus ITC claims and ensure that honest taxpayers are able to timely avail the ITC benefit. "The law committee of the GST Council is looking at streamlining the GSTR-3B so that there is further clarity on ITC disclosure. The modified GSTR-3B is expected to be put up before the Council in its next meeting," the official told PTI. Close … [Read more...] about GST Council may consider modification in monthly tax payment form for better ITC reporting

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × YES Securities' research report on LIC Housing Finance LIC HF delivered a better-than-expected performance in Q4 FY22 with NII/PPOP/PBT beat of 12%/14%/22%. Notably, this performance was aided by material NIM expansion (largely driven by CoF decline) and lower credit cost (underpinned by 15%/5% qoq reduction in Stage-2/Stage-3 assets). Collection efficiency was strong through the quarter (March at 99%) and there were significant NPL recoveries in builder/high-value loan segments. Stage-2 ECL coverage was maintained while Stage3 coverage was raised. Portfolio construct has reverted to pre-pandemic level and ECL coverage is better, which provides visibility of moderate credit cost for coming quarters. NIM expansion in Q4 FY22 was driven by a) positive re-pricing of liabilities (CoF down by 20 … [Read more...] about Buy LIC Housing Finance; target of Rs 500: YES Securities

SEOUL, South Korea — President Joe Biden is tending to both business and security interests Sunday as he wraps up a three-day visit to South Korea, showcasing Hyundai’s pledge to build a $5.5 billion electric vehicle and battery factory in Georgia and visiting U.S. and South Korean troops monitoring the rapidly evolving North Korean nuclear threat. The major U.S. investment by a South Korean company, which was formally unveiled in Georgia on Friday, is a reflection of how the U.S. and South Korea are leveraging their longstanding military ties into a broader economic partnership. The U.S. president has made greater economic cooperation with South Korea a priority, saying on Saturday that “it will bring our two countries even closer together, cooperating even more closely than we already do, and help strengthen our supply chains, secure them against shocks and give our economies a competitive edge.” The pandemic and Russia’s invasion of Ukraine in February has forced a deeper … [Read more...] about Joe Biden tendng to business in South Korea visit with Hyundai exec

Foreign Minister Sebastian Kurz, head of Austrian People’s Party, and his girlfriend Susanne Thier arrive at the polling station to casts their vote in Vienna, Austria, Sunday, Oct. 15, 2017, when about 6.4 million people are eligible to vote in the national elections. AP VIENNA, Austria — Austria’s 31-year-old foreign minister declared victory for his party Sunday in a national election that set him up to become Europe’s youngest leader and puts the country on course for a rightward turn. Foreign Minister Sebastian Kurz claimed the win as final results announced by the Interior Ministry showed his People’s Party had a comfortable lead with almost all the ballots counted. Noting that his center-right party had triumphed over the rival Social Democrats only twice since the end of World War II, Kurz called it a “historic victory.” “Today is not the day of triumph over others, but today is our chance for real change in this country,” he told cheering supporters. Still to be … [Read more...] about Austria takes likely right turn; young leader leads polls

Share to Twitter Share to Linkedin When the world is warned for weeks that an attack is imminent, as it was with Ukraine, there isn’t much more that can be done to prepare. Both Putin and most in NATO countries projected that Ukraine’s national government would be removed and replaced in a matter of days. Since the invasion began, the Ukrainians have inspired the world with a winning strategy deeply rooted in a culture of resilience. A cultural pivot to resilience, even knowing how to make Molotov cocktails to resist an invasion , has enabled a fierce resistance against a technically and numerically superior enemy. After only a few months, the diplomatic worry is shifting away from Ukraine’s likely victory towards how Putin will accept a loss – illustrative of what deeply-rooted resilience in culture can do, even on a shoestring budget. Similarly, resilience is ultimately what will win the imminent first space war. The Biden administration’s continued … [Read more...] about What Putin’s War With Ukraine Teaches Us About Space Resilience

Share to Twitter Share to Linkedin 19 August 2018, Germany, Doeringstadt: Only about half of the moon can be seen. Photo: Nicolas ... [+] Armer/dpa (Photo by Nicolas Armer/picture alliance via Getty Images) On Tuesday, NASA officials at the Jet Propulsion Laboratory (JPL) confirmed the first definitive evidence of water on the surface of the Moon, settling a decades-long debate about whether the substance was ice or simply hydrogen. This discovery has wide-reaching implications for future lunar settlements and exploratory missions in addition to some unexpected results for lunar astronomers. Scientists have previously suspected the presence of ice at the Moon's poles, but the data could have also been explained by reflective properties of the soil. In contrast, this study identified several characteristic signatures that give concrete proof that the Moon is host to a critical resource. Shuai Li, from the Hawai'i Institute of Geophysics and … [Read more...] about NASA Confirms The Existence Of Water On The Moon

Why do markets affect us personally, deeply? It’s not just money, it’s trust. We understand volatility as essentially a wave, an inevitable up and down movement. (Illustration by Suneesh K.) Note to readers: Healing Space is a weekly series that helps you dive into your mental health and take charge of your wellbeing through practical DIY self-care methods. Elon Musk recently predicted America is sliding into a recession , the markets have been volatile , margins are reducing, and life savings have received a setback. Crypto, that was supposed to be a safe harbour, has fallen through the floor , and nothing seems a sure bet anymore. If you have been taking a financial hit recently, it is likely the hit to your confidence and mental health has been far more detrimental. The collapse of structures we take for granted leave us shaken. While we expect some slides and swings, we expect them within a framework in which we are comfortable. We set a bottom line and a … [Read more...] about Healing Space | Bull or Bear, the markets swing and pull you along. How to ride the wave