New Toyo

Does anyone know what was New Toyo's original sum of investment in SAH in absolute dollar?

Technically, SAH is only worth 19.6 cents per share.

Should there be any correlation b/w SAH and New Toyo in terms of share price?
Logically, there should be since New Toyo owns 34% of SAH....


New Toyo is still very far from its heyday...

http://sg.finance.yahoo.com/echarts?s=N0...=undefined;

(03-05-2012, 11:02 PM)Curiousparty Wrote: Should there be any correlation b/w SAH and New Toyo in terms of share price?
Logically, there should be since New Toyo owns 34% of SAH....


New Toyo is still very far from its heyday...

http://sg.finance.yahoo.com/echarts?s=N0...=undefined;

I think the suspend is set in motion. If Snr Yen can extract more value out from SAH and also a dividend payment to New Toyo, we could have higher valuation.

Lets wait and see... the share may not move now, but if news leak out, it will run. 40cts is the resistance

New Toyo owns 54% of Tien Wah (in terms of equity) but its profit share is approx 70%.

New Toyo owns 34% of SAH, so 19.6 cents of SAH translate into 13.4 cents of New Toyo per share.

But did we forget about the intrinic value of the shell?
How should one price the value of the SHELL if there is any good use for it (if any) ?

(03-05-2012, 11:02 PM)Curiousparty Wrote: Should there be any correlation b/w SAH and New Toyo in terms of share price?
Logically, there should be since New Toyo owns 34% of SAH....


New Toyo is still very far from its heyday...

http://sg.finance.yahoo.com/echarts?s=N0...=undefined;

Tien Wah is resuming its unassailable rise, despite the general drag on indexes from the much lower than expected job numbers from USA..

2.14 this morning....something is brewing ...hoho

If the shell is "mis-used", then New Toyo will be accountable for 34% of the casualty...

(05-05-2012, 11:00 AM)Stockerman Wrote: New Toyo owns 54% of Tien Wah (in terms of equity) but its profit share is approx 70%.

New Toyo owns 34% of SAH, so 19.6 cents of SAH translate into 13.4 cents of New Toyo per share.

But did we forget about the intrinic value of the shell?
How should one price the value of the SHELL if there is any good use for it (if any) ?

(03-05-2012, 11:02 PM)Curiousparty Wrote: Should there be any correlation b/w SAH and New Toyo in terms of share price?
Logically, there should be since New Toyo owns 34% of SAH....


New Toyo is still very far from its heyday...

http://sg.finance.yahoo.com/echarts?s=N0...=undefined;

Tien Wah looks set to set a new high soon...

its daily average volume is usually in the range of 20 to 30 lots,given that it only has 100mil shares.

It has 94 lots done today...something is brewing....

New Toyo might be the greatest beneficiary...

New Toyo and Tien Wah should follow CWT model (see below) - sell all properties, investment properties and land holdings to unlock all the values; and then lease just sufficient space for printing operations...

If done properly, this should unlock at least another 10 cents of EPS....


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Published May 07, 2012

CWT Limited said on Monday that it plans to sell Pandan Logistics Hub for S$66 million and lease it back from the buyer.

The conditional sale and purchase agreement was entered between CWT's subsidiary, 49 Pandan Pte Ltd, and the trustee of Cache Logistics Trust, HSBC Institutional Trust Services (Singapore) Limited.

The property sits on 12,419-sqm of land and comprises a 5-storey ramp up warehouse with gross floor area of 329,109 sqf.

"The proposed sale and leaseback of the property will enable the Company to realise its investment in the property, while enabling the company to continue using the property to provide warehousing to its customers as part of its logistics services business," CWT said.

The sales proceeds can be deployed towards expanding the existing logistics and supply chain management businesses of thegroup as well as providing additional working capital.

Gd thinking on your part.

However, to excite any reits from buying properties, there are following factors to consider:

i) the size of the properties are critical;
ii) usually they are related party transactions - CWT is the sponsor of Cache;
iii) unless N Toyo is so hard up for upfront cash, do you think they will subject themselves from high lease rentals post sale and lease back since their properties are bought at low historical prices?

Whatever will be will be. N Toyo is a boring supporting industry player so being a wrong term investor, you must have faith in the controlling shareholders and be prepared to go through the dramas staged by Yen family.

Been tracking them since 97 listing - only in recent years have N Toyo become attractive as a yield play largely because share price was decimated post GFC.

(07-05-2012, 10:53 PM)Underdogger Wrote: New Toyo and Tien Wah should follow CWT model (see below) - sell all properties, investment properties and land holdings to unlock all the values; and then lease just sufficient space for printing operations...

If done properly, this should unlock at least another 10 cents of EPS....


********
Published May 07, 2012

CWT Limited said on Monday that it plans to sell Pandan Logistics Hub for S$66 million and lease it back from the buyer.

The conditional sale and purchase agreement was entered between CWT's subsidiary, 49 Pandan Pte Ltd, and the trustee of Cache Logistics Trust, HSBC Institutional Trust Services (Singapore) Limited.

The property sits on 12,419-sqm of land and comprises a 5-storey ramp up warehouse with gross floor area of 329,109 sqf.

"The proposed sale and leaseback of the property will enable the Company to realise its investment in the property, while enabling the company to continue using the property to provide warehousing to its customers as part of its logistics services business," CWT said.

The sales proceeds can be deployed towards expanding the existing logistics and supply chain management businesses of thegroup as well as providing additional working capital.

Green Giraffe
You have indicated that only in recent years has New Toyo become attractive as a yield play largely because of its share price being decimated post GFC.
The current share price of 28c should be adjusted to account for the 3-for-5 rights issue at 12c in 2010. The revised price of 38c is actually close to the pre-crash level.
The current 7% high yield is the result of company's policy of high dividend payout rather than price decimation. The 2c dividend rate before the rights issue was reduced marginally to 1.94c even though the rights issue increased the number of shares by a whopping 60%.