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Analysts say MBSB nine-month profit within expectation

PETALING JAYA: Malaysia Building Society Bhd’s (MBSB) profit for the first nine months ending Dec 31, 2018 (FY18) was within expectation, thanks to lower provision for loan impairment made by the bank, analysts said.

MIDF Research has maintained its earnings forecast on MBSB and expected an income rebound in FY19.

HK property market cools

HONG KONG: Potential homebuyers priced out of Hong Kong’s stratospheric property market may now feel more hopeful as housing prices finally begin to cool after a bullish stampede lasting more than two years.

In contrast to the past two years when new and existing flats would normally be snapped up, agents say residential property has switched to a buyer’s market, with more room to negotiate prices

UBS plans capital boost for China securities venture

HONG KONG: UBS Group AG, which is seeking regulatory approval to take a majority stake in its China securities joint venture (JV), plans to boost capital at the entity by about a third once the deal is completed, people familiar with the matter said.

The planned increase is part of UBS Securities’ push to expand in more capital-intensive business like margin financing, and to be eligible for market-making in over-the-counter (OTC) equity derivatives, the people said.

Last chance for non-compliant taxpayers to come clean, says EY

KUALA LUMPUR: The special voluntary disclosure programme under the Budget 2019 is the last window of opportunity for non-compliant taxpayers to voluntarily disclose assets held in and income derived from offshore accounts, says a tax consultant.

Amarjeet Singh, who is a partner and the Malaysia tax leader of Ernst & Young Tax Consultants Sdn Bhd, said taxpayers should undertake a comprehensive tax “health check” and review issues raised in past Inland Revenue Board (IRB) audits.

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