New Toyo

Until the plans on SAH materialised, there is always the risks of the balance 50% cash being used for RTO of some China properties company - refer to posting on Bright Orient.

We shall wait and see. $ not in your pocket remains illusive.

Well company can use turn their words and return say only 5% and use the remaining 95% for "investment" or speculation (e.g. RTO, other high risk high return ventures, etc)

Cos SAH only said up to 50% will be returned. 1% is also considered "up to 50%"....

The rest 99% go and bet on some speculative deals - this is the worst case for investors...

(14-05-2012, 01:12 PM)greengiraffe Wrote: Until the plans on SAH materialised, there is always the risks of the balance 50% cash being used for RTO of some China properties company - refer to posting on Bright Orient.

We shall wait and see. $ not in your pocket remains illusive.

not at all surprising that SAH minces their words and pays out close to nothing, perhaps 1 to 2 % as special dividends...

The rest of money brings to casino

(14-05-2012, 02:11 PM)potatolover Wrote: Well company can use turn their words and return say only 5% and use the remaining 95% for "investment" or speculation (e.g. RTO, other high risk high return ventures, etc)

Cos SAH only said up to 50% will be returned. 1% is also considered "up to 50%"....

The rest 99% go and bet on some speculative deals - this is the worst case for investors...

(14-05-2012, 01:12 PM)greengiraffe Wrote: Until the plans on SAH materialised, there is always the risks of the balance 50% cash being used for RTO of some China properties company - refer to posting on Bright Orient.

We shall wait and see. $ not in your pocket remains illusive.

New Toyo results are out:
http://info.sgx.com/webcoranncatth.nsf/V...E004017F8/$file/NTIH1QFY12Ann.pdf?openelement

The GPM has dropped from 16.8% (Q1 2011) to 15.3% (Q1 2012)
Has inefficiency set in ?

The current Q1-2012 GPM (15.3%) was even lower than the 15.5% full-yr GPM during 2010 (when there was capacity issues and works had to be outsourced to other parties)

(14-05-2012, 11:18 PM)soarskyhigh Wrote: New Toyo results are out:
http://info.sgx.com/webcoranncatth.nsf/V...E004017F8/$file/NTIH1QFY12Ann.pdf?openelement

without the profit contribution from SAH, I doubt New Toyo is able to continue dishing out 1.94 cents per year..Selling off assets of SAH is like losing a righthand man...

Your view pls?

(14-05-2012, 01:12 PM)greengiraffe Wrote: Until the plans on SAH materialised, there is always the risks of the balance 50% cash being used for RTO of some China properties company - refer to posting on Bright Orient.

We shall wait and see. $ not in your pocket remains illusive.

I think it would depend on how much dividends they can get from Tien Wah,
Profit is flat.
It makes about $20 mil a year.
It needs $8.6 mil free cash flow to pay this dividend.
My take is that dividends should maintain.

Hi Ken

How do u derive $20mil?

At steady state, Tien Wah is expected to contribute about $10mil to $12mil (PCL) while New Toyo's own SP business will have about $4mil net profit.

All in all will only be about $14mil to $16mil out of a base of 440mil shares or 3.2 cents to 3.5 cents EPS.

(15-05-2012, 10:36 AM)ken Wrote: I think it would depend on how much dividends they can get from Tien Wah,
Profit is flat.
It makes about $20 mil a year.
It needs $8.6 mil free cash flow to pay this dividend.
My take is that dividends should maintain.

Specialty paper segment (New Toyo)

FY2010 - $6.7mil (net profit)
FY2011 - $5.0mil (net profit)

If the supply contract with Phillip Morris can replace all the lost revenues from the 2 segments which have themselves been "absorbed" by Phillips Morris, we can have about $6mil from SP business..

(15-05-2012, 10:41 AM)Curiousparty Wrote: Hi Ken

How do u derive $20mil?

At steady state, Tien Wah is expected to contribute about $10mil to $12mil (PCL) while New Toyo's own SP business will have about $4mil net profit.

All in all will only be about $14mil to $16mil out of a base of 440mil shares or 3.2 cents to 3.5 cents EPS.

(15-05-2012, 10:36 AM)ken Wrote: I think it would depend on how much dividends they can get from Tien Wah,
Profit is flat.
It makes about $20 mil a year.
It needs $8.6 mil free cash flow to pay this dividend.
My take is that dividends should maintain.

Hi Curiousparty,

Last year Gross Profit $28 mil.
Associates. Profit $8 mil. (assuming Shanghai Asia)

This year Shanghai Asia makes no contributions.
Therefore gross profit about $20 mil. (assuming flat profits)

The bank balance is about $25 mil.

For the past few years, dividends is about 1.8cts to 2 cts.
Based on above, I assume they should be able to maintain its dividends.

Have to wait for the 2nd qtr to confirm.