AEC Feed

 Many listed companies in Vietnam have decided to loosen their purse-strings by paying cash dividend for stockholders, after reporting upbeat business results.
According to Vietstock’s data, by mid-November, some 31 companies have announced a cash dividend scheme to be paid through the end of this year.
In fact, four enterprises will pay cash dividends at the rate of 20 per cent each in December. They include Binh Diew Fertiliser JSC, Dinh Vu Port Investment and Development JSC, Duc Thanh Wood Processing JSC and Lix Detergent JSC. Except for LIX, the other three companies reported positive growth in the first three quarters of this year. – Viet Nam News

40% of electricity unused, says Indonesian firm chief 
The real reason behind the regrouping policy for customers of Indonesia’s state-owned electricity firm PLN became clear when the PLN president director announced that about 40 per cent of electricity produced by the company was currently unused.
“The electricity reserve is about 30 to 40 per cent [of the total production],” said Sofyan.
The customers’ regrouping is to encourage households to reduce the electricity surplus, Softan added. “We hope [the households] will increase [their consumption],” he added.
Previously, Sofyan said after the regrouping, the customers with 1,300 volt-ampere (VA), 2,200VA, 3,500VA and 4,400VA would be able to access 5,500VA electric power, while the electric power of customers with 900VA, both subsidized and non-subsidised, as well as subsidised customers with 450VA, would remain unchanged.
But later, PLN spokesman I Made Suprateka said the change in electrical power was optional for customers, meaning customers could reject the change.
Indonesian Consumers Foundation Tulus Abadi criticised the government for asking regular customers to reduce the electricity oversupply because of its 35,000-megawatt electricity programme. – TheJakarta Post 

Malaysian tax board demands 75m ringgit from SP Setia unit
The Inland Revenue Board of Malaysia (MIRB) has demanded 75.38 million ringgit from SP Setia Bhd’s unit for additional income tax and penalty, but the company said it has grounds to contest the notice.
SP Setia announced yesteday that its wholly owned subsidiary, SP Setia Bandar Setia Alam Sdn Bhd, was served with a notice claiming an additional 51.98 million ringgit of income tax imposed on five years of assessment, while a penalty of 23.39 million ringgit was also levied on the company. 
“The abovementioned additional income tax and penalty were imposed by the MIRB as the MIRB has taken the view that the gains from the disposal of land and properties held under Investment Properties under BSASB in the abovementioned YAs are chargeable to income tax under the Income Tax Act 1967 instead of the Real Property Gains Tax Act 1976 [RPGTA],” said SP Setia in its announcement on Bursa Malaysia.
However, the group said its Bandar Setia Alam unit will challenge the additional assessment and penalty on grounds that the sales of the investment properties are capital transactions that fall under the purview of the RPGTA. – The Star