FT 280422: https://drive.google.com/file/d/1mhw-k6FbB4...iew?usp=sharing

Lots of good reads in today's FT:

Swiss lawyers and bankers to the Russian rich have not been idle



US watchdog and shareholders seek to prevent abuse of insider share sale rule



Asset management's performance measures: Melvin Capital's U-turn stirs debate on hedge fund fees



FT Big Read on Food Security: Europe's breadbasket overturned by war



What happens when "tax avoidance/optimization" meets ESG?

Amazon's tax tussle raises broader questions for investors

Unilever results published.

Trading statement: https://www.unilever.com/files/3ad23272-5f8...nnouncement.pdf

Highlights: https://www.unilever.com/files/70599e17-677...-highlights.pdf

Webcast to begin at 3pm GMT +8, register here: https://connectmyevent.com/unilever/q1-2022/home

Linde, the world's largest industrial gas company reporting results a moment ago.

https://investors.linde.com/financial-repor...uarterlyreports

Press release: https://investors.linde.com/-/media/linde/m...ables.pdf?la=en

Presentation slides: https://investors.linde.com/-/media/linde/i...lides.pdf?la=en

Conference call to begin at 9pm GMT+8. Register here: https://event.webcasts.com/starthere.jsp?ei..._key=3fda6f953e

Heard on the Street

Unilever’s Activist Truce Should Hold for Now

Good first-quarter sales will take some pressure off executives who are trying to manage intense inflation while keeping Nelson Peltz quiet

https://www.wsj.com/articles/unilevers-acti...share_permalink

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This post has been edited by benlaw: May 5 2022, 04:09 PM

Fee definitely is cheaper at IBKR side, don't think the need of wire process is a big concern over cost

FT 290422: https://drive.google.com/file/d/1Tw8zUgzXTa...iew?usp=sharing



And some stuffs from 香港明报 today.



Lesson from 周显: Never open a private bank account.

As for the article on ETF's rise in popularity and its influence on corporate governance of companies included in the indices, the paper can be found in the author, Dr. Roni Michaely's Google Scholar list of publications below.

Some of Dr. Michaely's past papers on related topics can be found here too: https://scholar.google.co.uk/citations?hl=e...&sortby=pubdate

Related news: https://inews.hket.com/article/3240879/%E3%...%B8%80%E5%A5%97

Obviously not.
Ibkr is way cheaper than ifsst like 10x.
Not to mentioned Ibkr offers UK, Europe and Canada market in case you want to buy stuff from there.

Fees is big difference. But if local broker means your shares is with local broker. IBKR is overseas broker so shares reside overseas. If this is not a concern then IBKR is cheapest. Why I need to flag this is becuz there exist investors willing to pay more to see their shares aka assets residing in local for preference at the expense of higher fees.

Novo Nordisk, the world's largest insulin manufacturer and diabetes care service provider reporting results today. It's the largest company in the Nordic region.

Company accouncement: https://www.novonordisk.com/news-and-media/....html?id=112995

Presentation slides: https://www.novonordisk.com/content/dam/nnc...resentation.pdf

Its shares can be purchased from NYSE (ticker symbol NVO) (Level 3 ADR) in USD or if you like, Nasdaq Copenhagen Stock Exchange in Denmark (you need to buy shares in Danish Krone however).

Some info of its shares in Google Finance: https://www.google.com/finance/quote/NVO:NYSE

PNB has stakes in it and it accounts for 0.26% of ASM3's fund NAV as of 30th of Sept. 2021.

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Colgate-Palmollive (NYSE: CL) reporting results today too: https://investor.colgatepalmolive.com/event...d-presentations

This post has been edited by TOS: Apr 29 2022, 10:01 PM

How to buy Novo Nordisk in Copenhagen exchange? Seems IBKR don't have access?

Did it prompt you to Enable Trading? Cause from IBKR mobile it does prompted me to enable before i can start trade.

Sorry, my apologies. Though you can buy NOVO-B on Nasdaq Copenhagen, you can't do so via IB. IB just don't provide service for Denmark onshore securities.

Level 3 ADR should be fine. It's officially listed on an exchange, so there should be liquidity over a pure OTC level 1 unlisted ADR.

If in doubt, have a look at the premium-discount chart provided by Deutsche Bank here: https://www.adr.db.com/drwebrebrand/dr-univ...m-discount-data

NVO on NYSE should trade closely with its NOVO-B parent share back in Copanhagen. The chart should provide you some comfort.

Last thing to note is: Novo-Nordisk, like Roche, has a dual-class share structure where the founder owns 70-80% of voting rights while the rest of us can only have the remaining 20-30% voting powers despite we (not the founding family) provide 70-80% of the share capital, and the founding family only provide 20-30% of the capital. So there is corporate governance risk to bear.

You can read it here: https://www.novonordisk.com/investors/share...-structure.html

This post has been edited by TOS: Apr 30 2022, 10:35 AM

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This post has been edited by benlaw: May 5 2022, 04:10 PM

For Big Phama investors:

LATIN AMERICA

Scarcity of Medicines in Mexico Leaves Trail of Suffering

President López Obrador overhauled the way the government bought medicines, alleging corruptions, but a shortage of vital drugs has followed.

https://www.wsj.com/articles/scarcity-of-me...share_permalink

You need to fund your interactive broker or it will never get approve. :PYou should be able to login and get account number to fund it.

Give them a call. They have a US toll free number where you can call them via Skype for free to enquire about account opening status.

If I were you, I will do the above. I will use TD over usmart if really Ibkr reject me.

Can use TransferWise but use ACH. Don't direct rransfer.
Avoid instarem. Expensive rates.

Yes. If you want to keep your cost low you need sg bank account. If you want to keep your cost low, not needed.

Keep in mind, by using transferwise instead of banks, interactive broker will audit you about source of fund 6-8 months down the road. You need to give them all the statement they asked (bank statement, transferwise receipt). Failing to give the statement will cause interactive broker to close your account.

27% WHT. Ouch!

I prefer to get approved then funding it, than funding it, then waiting to be approved

Its kinda make me feel that my money is taken hostage. Not only me, a few peoples at reddit/interactivebrokers also have the same opinion as me, and have voiced their concerns.

i dont want to feel like my money is being taken hostage. if i fund it first, then it get rejected, then i must wait for them using their own sweet time to refund back... god knows how long the refund process will be....

No. It's actually 0%. (The tax-friendly treatment probably explains PNB's large position in this counter. Your friend in SG not so lucky, they still need to pay 10% WHT to Danish tax authorities.)

https://taxsummaries.pwc.com/denmark/corpor...thholding-taxes

This is the official Double taxation agreemen between Malaysian and Denmark, confirming that no WHT is withheld: https://phl.hasil.gov.my/pdf/pdfam/DenmarkDTA_06032018.pdf

In other words, you can claim back all the dividends withheld from Danish authorities.

The Danish authorities are so nice that if the processing time takes longer than 6 months, they will pay you interest on top of the dividends withheld.

https://skat.dk/skat.aspx?oid=2244931

This post has been edited by TOS: May 1 2022, 03:13 PM

If you never fund it, it will never get approved for infinity
That's how IB works.

Just give them sgd100.

This post has been edited by Ramjade: May 1 2022, 03:44 PM