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Concord Biotech files DRHP with Sebi for Rs 2,000-2,500 cr IPO

August 16, 2022 by economictimes.indiatimes.com Leave a Comment

Synopsis

Sources told ET that the IPO would be of ₹2000 crore – ₹2500 crore size.The issue with a face value of ₹1 per equity share is a complete offer for sale (OFS) aggregating to 20,925,652 equity shares by Helix Investment Holdings Pte. Limited. The offer also includes a reservation for a subscription by eligible employees.

Concord Biotech, the Ahmedabad-based fermentation-based active pharmaceutical ingredient (API) maker backed by Rare Enterprises and Quadria Capital, filed its Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI) for an initial public offering (IPO).

Sources told ET that the IPO would be of ₹2000 crore – ₹2500 crore size.

The issue with a face value of ₹1 per equity share is a complete offer for sale (OFS) aggregating to 20,925,652 equity shares by Helix Investment Holdings Pte. Limited. The offer also includes a reservation for a subscription by eligible employees.

The offer is being made through the book-building process, wherein not more than 50% of the offer shall be available for allocation to qualified institutional buyers, up to 15% will be available for allocation to non-institutional bidders and the remainder for retail investors.

As per DRHP, Concord has a market share of over 20% by volume in 2021 across identified fermentation-based API products including dactinomycin, sirolimus, tacrolimus, and mycophenolate sodium, and cyclosporine. It supplies to over 70 countries including regulated markets such as the US, Europe, Japan, and India.

The company’s revenue from operations increased by 15.6% year-on-year (YoY) to Rs 712.93 crore for FY22.

“What lies behind us and what lies before us are small matters compared to what lies within us.” – Oliver Wendell Holmes

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An essential guide to working with all the Myers-Briggs personality types

July 15, 2022 by www.fastcompany.com Leave a Comment

The shift to remote work has given many of us a new perspective on how we do our jobs. Without the context of a shared workspace or the rhythm of a typical office day, our own personalities are having far more of a say in our performance.

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It follows, then, that the best way to maximize our output in a WFH environment is to better know our own personalities—and those of our dispersed colleagues.

An efficient (and intriguing) way to manage this personality wrangling is via the Myers-Briggs Type Indicator (MBTI). The MBTI is widely applied within the business world, with 89 of the Fortune 100 companies utilizing it.

MBTI at work

“The MBTI is deceptively simple, but it’s also an extremely useful way to see how team members are inherently different, and how you can work together more successfully,” says occupational psychologist John Hackston, head of thought leadership at the Myers-Briggs Company . “It’s a means to boost productivity in people, increasing their engagement and making them generally happier in their work.”

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In other words, the MBTI might just be the key to turning your remote team into a smooth autonomous unit.

What are the 16 Myers-Briggs personality types?

Based on Carl Jung’s Theory of Psychological Types , the MBTI is a self-reported personality survey that has been around in various shapes and forms since the 1940s. Respondents answer a series of simple questions about their feelings and preferences, eventually aligning with one of 16 personality types.

Each of these types is identified by four letters, starting with an E or an I (for extrovert/introvert) followed by S or N (sensibility/intuition), T or F (thinking/feeling), and finally a J or a P (judgment/perception). Each type also has a descriptor, e.g., “the analyst,” to further characterize the personality type in action.

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Once you know your team members’ types, the thinking goes, you can better assign them to projects that match their preferences, proficiency, and proclivities. You can also communicate more effectively if you have a better idea of how people process information.

1. ISTJ: responsible realists

The Logistician

Who they are: Dutiful doers who appreciate clarity, love routines, and believe in values like honor, hard work, and social responsibility. They’re quiet, reserved, and reliable. The Queen of England is an archetypal ISTJ.

How to work with them: “This personality type is incredibly well organized, which is a major asset in a remote working environment,” says psychologist and business coach Rosie Peacock , CEO of Conscious Enterprise . “They don’t need much management or checking up on; just email them a to-do list at the start of the week, and you can trust them to quietly get on with it. They’d also be the perfect type to organize and streamline any shared space online, from Dropbox to Google Docs.”

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2. INFJ: insightful visionaries

The Advocate

Who they are: Principled creatives who are quietly forceful but also intuitive about people and concerned about their colleagues’ feelings. They tend to be deep thinkers with bags of ideas.

How to work with them: “The entire hiring process is considerably more difficult in a remote world, but Advocates can be an ace up your sleeve,” says Peacock. “They tend to be excellent judges of character, so it would be a major asset to have them sit in on virtual interviews. Just don’t put them center stage in any Zoom meetings if you can avoid it; they don’t thrive on attention and work far better behind the scenes.”

3. INTJ: conceptual planners

The Architect

Who they are: Perfectionist innovators who are comfortable alone, and thrive in a remote work environment. People with this personality type are natural problem solvers who are great at taking an idea and turning it into a plan of action. They’re a dual threat: skilled at both intuitive and practical thinking.

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How to work with them: “This group is usually more comfortable communicating by text, so they’ll often need to be nudged into picking up the phone or jumping on a Zoom call when it’s more beneficial,” says Hackston. “They’re extremely deadline-focused, but there’s also a danger they can rush to hasty decisions, particularly without colleagues nearby to check their impulses. Sometimes, INTJs need to be reminded to stop for a second, take their time, and let ideas germinate, rather than just rushing straight at them.”

4. ISFJ: practical helpers

The Defender

Who they are: The most extroverted of the introverts, ISFJs prioritize harmony and cooperation, have a strong work ethic, and are sensitive to colleagues’ wishes and feelings. But there is steel behind their zeal: They tend to be extremely conscientious workers who are natural managers, capable of keeping remote teams bonded and happy.

How to work with them: “ISFJs display incredible attention to detail, so they’re great for checking over others’ work, editing shared documents, or looking over pitches and proposals at the final stage,” says Peacock. “They’re also very good at following rules and inspiring others to do the same, so put them in charge of any time-tracking software you use—and watch them increase the efficiency of the entire team.”

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5. ISTP: logical pragmatists

The Virtuoso

Who they are: These are direct, to-the-point characters, who are loyal to their peers but not overly concerned with laws and rules. ISTPs are the most unpredictable of the 16 personality types because they’re typically rational and logical, but can also be enthusiastic and spontaneous.

How to work with them: Virtuosos will likely feel the impact of missed day-to-day interactions with their teams most of all, so they’ll benefit from scheduled one-on-one digital meetings to maintain drive and focus. “ISTPs tend to excel at troubleshooting, so in a remote work environment, they can be a major tech asset,” says Peacock. “They’re very good at test-driving new tools and navigating software, but they also lose focus easily. They’re the team member most likely to turn off their camera in a meeting, open another window, and start surfing the net—so they do need to be managed.”

6. ISFP: versatile supporters

The Adventurer

Who they are: Sensitive doers who thrive when creating for others, Adventurers are warm, approachable, friendly, and averse to confrontation. They also see the value of exploring new things and discovering new experiences.

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How to work with them: “This group likes to live in the moment and can become completely wrapped up in their work,” says Peacock. “Working from home and without colleagues physically monitoring them, they can burn out quite easily, so they need to be reminded to take an hour for lunch and finish the work day at a reasonable time. Their energy is an asset, but it sometimes needs to be harnessed and directed in the right direction by others.”

7. INFP: thoughtful idealists

The Mediator

Who they are: Laidback idea people with a well-developed value system, INFPs can often get lost in their imaginations and daydreams. While they bring intensity and enthusiasm to projects, they often find it challenging to sustain their excitement for long periods of time.

How to work with them: “This type tends to have very deep-seated values, which can cause problems because frustrations can stew when they’re offended,” says Hackston. “This is amplified when working remotely as grievances can linger for longer, so managers need to encourage them to get any concerns out in the open. Otherwise, the key to getting the best out of this group is to encourage and reinforce meaning in their work.” In other words, if their projects align with their values, this group can be an unstoppable force.

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8. INTP: objective analysts

The Logician

Who they are: Renegade problem solvers who love patterns, are quick to notice discrepancies, and cherish competence and logic. They thrive on being alone and will enjoy lockdown more than any other type. Albert Einstein is the archetypal INTP.

How to work with them: “This type really needs to be given the freedom to do things in an original way, and to be listened to, because they come up with the smartest solutions,” says Peacock.

“Their weak spot is that they often neglect to share decisions and solutions, and that trait can become even more pronounced when working from home,” adds Hackston. If there’s an INTP on your team, encourage them to use shared documents and software as much as possible. A tool like Confluence , for example, would be ideal.

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9. ESTP: energetic problem solvers

The Entrepreneur

Who they are: Risk takers who thrive on solving big problems at a fast pace. They’re passionate about their pursuits but can also get impatient with longer-term projects as they suffer from short attention spans. Entrepreneurs can be a major asset to any team, but they can also be hard to manage because they’re not particularly respectful of rules.

How to work with them: The solution here is simple: Keep things fun and keep them moving fast. “This personality type is classically impatient, so give them a day’s worth of tasks in a project tool rather than any long-term targets,” says Peacock. “They’re also often very good at firefighting because the thrill of the moment is exciting to them. As a general rule, Entrepreneurs are great at thinking outside the box, so don’t put them inside one by stifling their creativity.”

10. ESFP: enthusiastic improvisers

The Entertainer

Who they are: The life and soul of the workplace, this personality type likes to show up and show off. They’re energetic, enthusiastic, and natural performers who often end up in creative or artistic professions. But while they love the spotlight, they’re also sympathetic, warm, and generous.

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How to work with them: “Entertainers need to be given time to sparkle in front of others, so remote working can drain them,” says Peacock. “Wherever possible, get them involved in videos, voice-overs, podcasts, or any project that involves creative performance. They’ll also be superb in remote pitches, as they’ll bring a persuasive energy that could otherwise be lacking via computer screen.”

11. ENFP: imaginative motivators

The Campaigner

Who they are: Perceptive people-pleasers, who love to experiment and explore, Campaigners have a strong, intuitive nature and like to be around others, operating from feelings above logic. Crucially, they are motivated more by heartfelt goals than by money.

How to work with them: “This group excels at both idea generation and collaborative projects, so they’d be a major asset in brainstorming sessions and any big-picture thinking,” says Hackston. “Their weakness is that they’re not the best starter-finishers, so deadlines can be an issue. That can be exacerbated when working remotely, when they don’t always see messages or respond quickly enough to colleagues. As a result, they often need gentle managing in order to realize their high creative value.”

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12. ENTP: enterprising explorers

The Debater

Who they are: Charismatic intellectuals who enjoy pulling strings, many CEOs slot into this group. This personality type is logical, rational, and objective but needs constant mental stimulation. Often leaders and managers, they prefer to focus on big ideas and resist repetitive tasks and routines.

How to work with them: Predictably, Debaters are very good at debating, so play to their strengths. “This group tends to be great on new ideas and products, as well as bigger discussions about how to move the business forward,” says Peacock. “They’re also adept at impressing clients and pitching for new business, so you want them on any game-changing Zoom calls. You just might need to remind them to mute themselves occasionally, because, if unchecked, they may dominate the conversation.”

13. ESTJ: efficient organizers

The Executive

Who they are: Also nicknamed The Guardian, this type is made up of pragmatic decision-makers who are traditional, organized, hard-working, methodical, and loyal. If your business were a sports team, they’d be the veteran captain.

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How to work with them: “This group loves to organize themselves, other people, and the world around them, which can be an asset but can also come across as bossy and aggressive— particularly when they’re dishing out instructions without any face-to-face contact,” says Hackston. “They often need to be reminded to be tactful with others, particularly in an environment in which they’re primarily communicating via email or messaging apps, leaving their sentences open to greater interpretation.”

14. ESFJ: supportive contributors

The Consul

Who they are: Nurturing caregivers who thrive on serving the collective, this group is sociable, kind, and considerate—and will typically put others’ needs first. They’ll be the ones messaging colleagues directly to check on their well-being while trying to organize online quizzes and virtual happy hours.

How to work with them: “This is the personality type who makes the best project managers,” says Peacock, “because people love working for them. They’re organized, as well as thoughtful, so are ideal for bringing projects together on time. Thanks to their caring, patient nature, they’d also be a strong choice for remote onboarding of new starters.”

15. ENFJ: compassionate facilitators

The Protagonist

Who they are: Another group of natural leaders, but unlike their ENTP colleagues, this cadre is driven more by intuition and feelings than logic and rationality. If they’re managers, they’re the inspirational type: extremely driven but also extremely empathetic to the needs of those around them. Both Abraham Lincoln and Barack Obama are classic ENFJs.

How to work with them: People-focused diplomats, this group tends to forget their own needs in favor of the greater good, and that can sometimes be detrimental—not just in terms of burnout, but also when completing their own tasks. However, with this group, the positives vastly outweigh any negatives.

“It’s always a good idea to have Protagonists lead group discussions, even if they’re not in a leadership role, because they excel at it,” says Peacock. “They should be your go-to Zoom meeting host, and at the heart of any situation involving discussion, consensus, and the bringing together of people and ideas.”

16. ENTJ: decisive strategists

The Commander

Who they are: Logical planners who love breaking down boundaries and identifying solutions. They value knowledge and have little patience with inefficiency. Above all, they are about goal-setting, structure, and organization. They are generally charismatic and confident and can motivate others behind a common goal.

How to work with them: “This type naturally likes big pictures and big decisions, and that can create problems when working from home,” says Hackston. “They don’t always see the finer details when implementing plans; and in a remote working environment, that puts them at greater risk of pushing through decisions without properly taking in the views of others. To truly excel, ENTJs need to remember the necessary balance between directing and consulting.”

Can you take the Myers-Briggs test online?

Yes. To get started, take the official Myers-Briggs test here (or try a similar free questionnaire, recommended by psychologists here ). Consider having your whole team take the test, and then share the results.


This article originally appeared on Atlassian’s blog and is reprinted with permission.


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I’m a mortgage expert – little-known ways that first-time buyers can buy a home with just a 5% deposit

July 20, 2022 by www.thesun.co.uk Leave a Comment

SOARING house prices are making it harder than ever for first-time buyers to get on the property ladder – but there are ways to buy a home with a small deposit.

Ray Boulger, an expert at mortgage broker John Charcol, said it is possible to buy a home with a deposit of just 5%.

But as the average UK house price in England has soared to £283,000, it is still no easy task to save enough for a smaller deposit.

According to the latest data from the Office for National Statistics, house prices have soared by 12.8% over the past year alone.

Anyone looking to put down a typical deposit of 10% to buy a home now needs to save a whopping £28,300 – and that’s before you factor in extra costs such as legal fees and stamp duty.

At the same time, interest rates are rising which makes mortgage repayments more expensive.

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It means some buyers are having to think outside of the box to snag a property .

Ray said: “A few mortgage lenders are offering products that are aiming to fill the gap when the Help to Buy loan scheme ends .

“They’re a bit more complicated than a standard mortgage, so you need to do your research and go through a specialist broker, but it can help people buy a home they otherwise wouldn’t have been able to afford.”

The Help to Buy equity loan scheme can get homebuyers on the property ladder with just a 5% deposit, but there are only a couple of months left to apply.

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The way it works is you put down a deposit of, say, 5% and get a loan for up to 20% of the value of the property (or up to 40% if you live in London).

That effectively reduces the amount you have to borrow – as if you’re putting down a 25% deposit including the loan, then you only need a 75% loan-to-value mortgage.

The government-backed loan is interest-free for the first five years, but you’ll give away a proportion of any gains you make through house price growth.

For example, if you bought a home for £200,000 with a 20% loan – the government would effectively have a 20% stake in the property, worth £40,000.

If you later sold the property for £300,000, then the government would still get 20% of the sale price, which would be £60,000, so you will have lost out on that profit.

The scheme ends soon, but a number of companies are looking to plug the gap.

Which companies are offering equity loans?

One such firm is Proportunity, which offers loans up to £150,000 or 25% of a property’s value.

Ahauz is another, which offers equity loans to buyers with a 5% deposit. It will lend up to 25% of a property’s value.

Another firm, Even, offers interest-free equity loans for first-time buyers with a deposit as low as 7%. It will lend buyers two times their deposit (up to a maximum of £100,000).

Similar to Help to Buy, it shares in the increase of the property price rather than charging interest.

With each of these, the company only gives you the extra loan for your deposit – you still need to find a provider to lend you money for the main mortgage.

Ray said: “The majority of people who used Help to Buy end up buying a bigger or more expensive property than they would have been able to otherwise.

“Many were able to buy a house instead of a flat, for example, and these schemes could enable buyers to do the same.”

What to be aware of

A major downside of these loans, however, is that the interest rates are often considerably higher than you’d pay with a standard mortgage.

Ray said you will typically pay interest of between 5.5% and 9% on the loan, as well as giving up the gains on the property growth.

That compares with an interest rate of 3.89% on the typical five-year fixed rate mortgage at the moment.

The Sun previously spoke to one first-time buyer who is paying more than double the interest rate on his £30,000 Proportunity loan than he is on his standard mortgage.

And Ray points out that these loans have technically been more expensive in the past couple of years as house prices have soared , which means you’re giving up more money as your property value rises.

He said: “From a borrower’s perspective, these loans increase your borrowing capacity and mean you can get the property you want.

“So it may work out a good deal even if it’s more expensive.

“But if you can afford to buy without getting the loan – with a 95% LTV mortgage, for example – then it will work out cheaper in the long term, even if it means your monthly repayments are higher.”

He adds that your mortgage options may be more limited if you use one of these loans, as fewer mortgage providers will lend against them.

Another factor to consider is that some mortgage providers could actually offer you LESS if you take out these products.

They will factor in any loans or debt into affordability assessments, so may think you can’t afford to borrow.

Some of the lenders also require minimum incomes. For example, Proportunity asks for applicants to be earning at least £30,000.

Ray said: “The key thing is that most borrowers will not be aware of these options so you need to discuss the pros and cons with an expert, and compare it to a standard mortgage.

Ray said: “Some people say it’s a way to ‘ boost your deposit ’ but I think that’s a bit misleading.

“It’s a company helping to fund your mortgage by giving you a different type of mortgage.”

How else can I buy a property with a small deposit?

Other options for buyers with a small deposit include the Deposit Unlock scheme, which lets you buy a new build house worth up to £750,000 with a deposit as low as 5%.

You’ll need to buy the property directly from the builder to be eligible though.

It’s a mortgage indemnity scheme, which effectively means the builder insures the mortgage that you take out.

Only a few mortgage providers are signed up though, and you’ll need to check the housebuilder is too, so this may not work for many people.

Barclays also offers a so-called Family Springboard mortgage whereby a family member or friend can use their savings as collateral for your mortgage.

They’ll need to have the equivalent of a 10% deposit saved and be willing to tie it up for five years – but they will earn interest on it.

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Each week we speak to buyers about how they got on the ladder for our My First Home series.

One family bought their property with a deposit of just £12,000 , and we spoke to a couple who sold their car to buy their first home .

Filed Under: Uncategorized First-time buyers, House Prices, Money saving, Mortgages, zero down mortgage loans first time home buyers, first time home buyers 5 deposit, how to buy a home first time buyer, buying a home first time buyer, buying a home first time buyer programs

Making sense of first time buyer deals

January 5, 2017 by www.independent.co.uk Leave a Comment

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The latest deal designed to get more would-be first-time buyers into their own homes got the green light this week, with the Government promising that thousands of properties will be built on brownfield sites during 2017.

With cash from the Government’s £1.2bn Starter Homes Land Fund, which supports the development of starter homes on sites across England only, every home will be available strictly for current renters aged 23-40 and, crucially, offering a minimum 20 per cent discount on market values. The first wave of homes will be built under partnerships with 30 local authorities including Blackpool, Gloucester, Northumberland, Bristol, Plymouth, Manchester and Luton.

But as one big plan to solve the first-time buyer problem launches, so another closes – the Help to Buy Mortgage Guarantee shut up shop on 31 December after more than 86,000 successful completions since its launch in 2013.

In fact, with six different schemes now coming under the Help to Buy banner alone, those struggling to get a grip on the starter end of the UK property market are further hindered by the bewildering range of discounts, deals and cash injections available. It all seems like a haphazard series of affordable home initiatives aimed at getting new owners buying in order to support the entire, economically all-important property market.

Meanwhile, despite the latest plans for 48,000 new homes to be built in garden towns and villages near Taunton, Aylesbury and Harlow, the enduring criticism is that without the massive construction needed to deliver the 250,000 homes we’d need every year to balance supply and demand, such deals will only serve to push up prices anyway.

What’s clear is that while the Bank of Mum and Dad is continuing to plug part of the funding gap, such measures are likely to become a permanent part of the property funding landscape.

So what’s out there now? And which should you plump for if you’re hoping to get a first foot on that ladder in 2017?

Help to Buy

More than 220,000 homes have been bought under the original seven Help to Buy schemes since they were first launched in 2013, with an average purchase price of £191,000.

It may sound a lot but it is a drop in the ocean compared with the 310,000 people successfully buying their first home each year and the countless thousands that haven’t yet been able to secure a mortgage or scrape together the average £33,000 deposit needed.

Help to Buy ISA

Launched a year ago, this is a pure cash boost. The scheme allows savers to claim a government bonus of 25 per cent on monthly savings of up to £200 towards their first home. That’s the equivalent of £50 added to every £200 saved up to a maximum governmental contribution of £3,000 on £12,000 worth of savings.

It’s a very popular option, with more than 650,000 accounts opened in the first six months alone. Bizarrely though, it turns out this one may not be for you if you haven’t saved the deposit you’ll need as the Government bonus can’t be used for the deposit itself. It’ll be paid to the mortgage lender on completion instead.

Help to Buy Shared Ownership

One for households with a surprisingly high level of income (£80,000 outside London and £90,000 in the capital) but who still can’t afford to buy a property on their own, shared ownership allows would-be buyers to purchase a portion of the property – between 25 and 75 per cent of the value – and rent the rest at a maximum of 3 per cent of the remaining proportion of the property’s value.

So, for example, if a property is worth £200,000 and you managed to buy 50 per cent of it, you’d pay a maximum of £3,000 a year in rent on the rest.

Eligible properties are sold through housing associations, though they don’t necessarily need to be council houses, and there are a wide range of mortgages on offer to help you raise the funds you’ll need for your proportion (though not all lenders offer such arrangements).

You can decide to “staircase”, a strange piece of jargon which means you buy up more of the property over time. There are a few significant negatives though. All shared ownership properties are sold on a leasehold basis, typically 99 years and, crucially, shared ownership properties are in specified places so you can’t pick and choose your ideal location. However, it’s one of the few schemes which prioritise military personnel, so could be useful if there’s one in the family.

Help to Buy Equity

The thinking behind this scheme is that by using an interest-free loan, would-be buyers with little savings can still get access to the cheaper deals offered to those with larger deposits.

Buyers will need to have at least 5 per cent of the property value, with the Government stumping up a maximum of 20 per cent on top of that. The remaining cost of the property is then covered with a standard 75 per cent mortgage.

It’s a compelling option for those with strong lending prospects like a clean credit history and good income, but who haven’t been able to put away significant savings for a deposit. You’ll also need to be ambivalent about period features as this deal is only available on new builds.

You’ll need to repay the loan after 25 years, when you sell or your mortgage term finishes, whichever happens first.

Help to Buy Mortgage Guarantee

Though this scheme is now closed, that’s because the Government has decided it has achieved its main objective of encouraging lenders to offer mortgages of up to 95 per cent.

Meanwhile, Help to Buy London, Scotland and Wales all offer slightly different deals based on the same basic arrangements as those outlined above.

Starter Homes

Then there are the bids to simply build cheaper homes exclusively for first-time buyers – such as that announced this week. The only problem, as both the Opposition and housing charity Shelter have pointed out in no uncertain terms – is that a price tag of up to £450,000 in London (and £250,000 elsewhere in the country) is hardly affordable.

In fact, the number of affordable homes being built every year is now at a 24 year low, with only 3,430 constructed in 2015/16.

Lifetime ISA

From April, the newest weapon in the affordable housing arsenal will allow 18-40-year-old first-time buyers to save up to £4,000 a year into a stocks and shares or cash ISA. The Government will top up the savings by 25 per cent with the resulting pot either put towards a first home in the UK up to the value of £450,000 or taken tax-free from aged 60 as a pension.

Crucially, unlike the Help to Buy ISA, the top up can be included as part of the deposit. And the top up will be paid monthly, helping savers benefit from compound interest. Those with Help to Buy ISAs will be able to transfer their existing savings to a LISA from April, but with details of the scheme coming late, many ISA providers have expressed concerns about having a LISA product ready to launch in just a few months’ time.

Right to Buy

Finally, the best known of the lot. Right to Buy allows some council tenants to purchase their home at a significant discount – up to £103,900 for London residents or £77,900 for those outside the capital.

From April last year, applicants were required to have only three years’ tenancy, down from five years. But Scotland has now scrapped its Right to Buy scheme and Wales has plans to follow suit.

The big drawback here is that only 500,000 of the 1.3m housing association tenants are currently eligible, despite general election-focused promises to make the deal open to all such tenants.

The discount you’ll get may also vary depending on how long you’ve been a public sector tenant, whether the property is a house or flat, and its value and location.

For more information about options and eligibility, including those on offer in Scotland, Wales and Northern Ireland, go to:

www.helptobuy.gov.uk/own-your-home

www.moneyadviceservice.org.uk/en/articles/help-to-buy-homebuy-and-other-housing-schemes

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Glove stocks among Bursa’s top active counters as most advance but rebound seen shortlived

August 16, 2022 by www.theedgemarkets.com Leave a Comment

Glove stocks among Bursa's top active counters as most rebound

Glove stocks among Bursa’s top active counters as most rebound

– A + A

KUALA LUMPUR (Aug 16): The big four glove counters, namely Top Glove Corp Bhd, Hartalega Holdings Bhd, Kossan Rubber Industries Bhd and Supermax Holdings Bhd were among Bursa Malaysia’s most active counters on Tuesday (Aug 16).

All except Hartalega, which topped the actives list but slumped for the fifth straight session, saw their share prices climb.

When contacted, Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the share price climb is a technical rebound as glove stocks have been oversold.

But Thong expects the rebound to be short-lived as glove makers are still bracing for industry-wide headwinds caused by an acute oversupply and margin compression due to falling selling prices.

Hartalega fell nine sen or 4.84% to RM1.77 on Tuesday — its lowest in about six years since September 2016 — after some 197.09 million shares were transacted, giving it a market capitalisation of RM6.17 billion. It has lost RM1.03 or 37% since last Tuesday (Aug 9), when it closed at RM2.80. Year to date (YTD), Hartalega has fallen 69% from its closing price of RM5.73 at end-December last year.

Top Glove, the second most actively traded stock of the day that saw 143.96 million shares done, snapped its seven-day losing streak to close four sen or 5.03% higher at 83.5 sen, giving it a market value of RM6.94 billion. But YTD, Top Glove has lost 68% from its end-2021 closing price of RM2.59.

Similarly, Kossan and Supermax rebounded. Kossan climbed 2.5 sen or 2.54% to settle at RM1.01, for a market capitalisation of RM2.58 billion, after 53.26 million shares were traded. It was the fifth most actively traded counter of the day.

Supermax, which was the 21st most actively traded stock, climbed two sen or 2.65% higher to settle at 77.5 sen for a market capitalisation of RM2.1 billion. It saw 20.98 million shares traded.

YTD, Kossan has dropped 47% from when it was trading at RM1.92, while Supermax has lost 90% from RM1.47.

Their smaller counterparts also gained.

Rubberex Corp Bhd rose 0.5 sen or 1.08% to settle at 47 sen, for a market capitalisation of RM430 million, while Comfort Gloves Bhd ended the session 0.5 sen or 1.04% higher at 48.5 sen, bringing its market value of RM283 million. Careplus Group Bhd closed one sen or 2.82% higher at 36.5 sen, valuing it at RM209 million.

Tan Choe Choe

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