New Toyo

just think of it this way as has been mentioned before many times in the forum. Mr Market just failed to pick this up..the numbers are there and are not faked..

Once fully liquidated, from SAH, New Toyo will get 12.5 cents of solid cash.
Current share price is only 25.5 cents. Ask yourself this simple question, is the rest of New Toyo only worth a meagre 13 cents?

It cannot be 13 cents because we are talking about the following which worth some 31.5 cents:-


a. 54% Stake in Tien Wah market price at 2.10 RM = 43.76mil SD (cash if sold off in open stock market) [10 cents]
b. New Toyo’s own investment properties = $25.64 mil (market valuation as at Dec 2011 – Cash if disposed off in open property market)[5.8 cents]
c. New Toyo's own specialty paper business = $5mil net profit per annum (Say 5 cents valuation at P/E = 5)- valuation about 5.7 cents
d. New Toyo’s 49% stake in MEIL – 10 cents valuation based on Tien Wah P/E of 7.4, Net profit per annum = $15mil RM.

SYDNEY: A law forcing tobacco firms to sell cigarettes in plain packets came into effect in Australia on Saturday in an effort to strip any glamour from smoking and prevent young people from taking up the habit.

The new law, the first of its kind anywhere the world, came into force despite a vigorous legal challenge by firms, which argued that the legislation infringed its intellectual property rights by banning trademarks.

All cigarettes will now have to be sold in identical, olive-brown packets bearing the same typeface and largely covered with graphic health warnings.

A cashier at a Sydney newsagent said many customers reported finding the new packaging, which must feature graphic images such as a gangrenous foot, mouth cancer or a skeletal man dying of cancer, off-putting.

Sanjid Amatya said smokers were asking to pick and choose the images on their packets, with the photograph of gangrenous toes bothering many consumers, as well as one of a sick child affected by cigarette smoke.

"Some of them don't care what the picture is," Amatya said from the store in the suburb of Wynyard where he has worked for three years.

"But some say 'Why did they change the pictures? It's so awful'."

Anti-smoking campaigners have welcomed the new law, which stipulates that 75 per cent of the front of packets must feature the graphic images.

Stafford Sanders from Action on Smoking and Health (ASH) Australia told AFP that research had suggested people would be put off by the packaging.

"It's likely to make people more aware of the health warnings," he said.

"And it will remove the potential for the packets to be used to mislead people. And it will de-glamourise the packet."

Sanders said some people had become quite upset and offended by the images.

"The images are supposed to be disturbing, to be confronting. They are supposed to have an effect," he said. "If the images stop one child from taking up smoking, hasn't it been worth you being offended by it?"

The number of smokers in Australia has dropped from about 50 per cent in the 1950s to 15 per cent now and the government is aiming to push it down to 10 per cent by 2018.

With 80 per cent of smokers starting before the age of 18, and 99 per cent before they turn 26, health authorities hope the new packaging will have the biggest impact on young people.

"If we can prevent young people from taking it up, that's a lifetime gift to them," Health Minister Tanya Plibersek said on Friday ahead of the law coming into effect.

Smoking is one of the leading causes of preventable death and disease in Australians, killing an estimated 15,000 every year.

The government says it will not be heavy-handed in enforcing the legislation in cases where a few packets of old cigarettes are sold in error, but there is the possibility of fines of more than AU$1 million for a corporation that commits a large and deliberate breach of the law.

A commentary at the date of the announcement of the significant trend and competitive conditions of the
industry in which the group operates and any known factors or events that may affect the group in the next
reporting period and the next 12 months.

The disposal of substantially all of the assets, liabilities and businesses of Shanghai Asia Holdings Limited ("SAH") was
completed in Q1FY2012.

The implementation of plain packaging in Australia on 1 December 2012 is not expected to have any significant impact
on our profits.

Despite generally uncertain economic outlook, we remain cautiously optimistic regarding the Group's performance as
the industry that we are in remains resilient.

The Group does not expect further profit contribution from SAH towards the share of profit of associates, and is actively
seeking alternative investment opportunities.

since the family controlling New Toyo has relinquish their executive duties, just like the rest of minority shareholders, dividends are almost the only return they are getting from New Toyo. Will the company increase its dividends? Will the new management divest non core assets?

(01-12-2012, 06:28 PM)freedom Wrote: since the family controlling New Toyo has relinquish their executive duties, just like the rest of minority shareholders, dividends are almost the only return they are getting from New Toyo. Will the company increase its dividends? Will the new management divest non core assets?

We could surmise that there will be a huge payout pretty soon if the company has no better plans for the payout from SAH .

55mil in cash - 12.5 cents per New Toyo share

1Q 2012 - $2.5m
2Q 2012 - $4.2m
Interim Dividend = 0.8 cents or 52.5% of EPS

3Q 2012 - $4.9m
4Q 2012 - $4.5m (projected)
Projected Final Dividend = 1.12 cents [assuming the same payout ratio of 52.5%]

Full yr dividend = 1.92 cents (versus current share price 26 cents!!!)
Plus the LATENT "12.5 cents from SAH"

(02-12-2012, 09:58 AM)Curiousparty Wrote: 1Q 2012 - $2.5m
2Q 2012 - $4.2m
Interim Dividend = 0.8 cents or 52.5% of EPS

3Q 2012 - $4.9m
4Q 2012 - $4.5m (projected)
Projected Final Dividend = 1.12 cents [assuming the same payout ratio of 52.5%]

Full yr dividend = 1.92 cents.
Plus the LATENT "12.5 cents from SAH"

you can continue to dream, but the 12.5 cents are never going to be yours.

(02-12-2012, 10:06 AM)freedom Wrote:

(02-12-2012, 09:58 AM)Curiousparty Wrote: 1Q 2012 - $2.5m
2Q 2012 - $4.2m
Interim Dividend = 0.8 cents or 52.5% of EPS

3Q 2012 - $4.9m
4Q 2012 - $4.5m (projected)
Projected Final Dividend = 1.12 cents [assuming the same payout ratio of 52.5%]

Full yr dividend = 1.92 cents.
Plus the LATENT "12.5 cents from SAH"

you can continue to dream, but the 12.5 cents are never going to be yours.

why is that?

The company directors probably won't distribute the dividends. They would give some crap excuses that the funds are needed for some acquisitions etc!!

(02-12-2012, 10:54 AM)pianist Wrote:

(02-12-2012, 10:06 AM)freedom Wrote:

(02-12-2012, 09:58 AM)Curiousparty Wrote: 1Q 2012 - $2.5m
2Q 2012 - $4.2m
Interim Dividend = 0.8 cents or 52.5% of EPS

3Q 2012 - $4.9m
4Q 2012 - $4.5m (projected)
Projected Final Dividend = 1.12 cents [assuming the same payout ratio of 52.5%]

Full yr dividend = 1.92 cents.
Plus the LATENT "12.5 cents from SAH"

you can continue to dream, but the 12.5 cents are never going to be yours.

why is that?

Funny why as value investors, ppl are hoping the company sells off everything and give shareholders back the cash.