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Green Giraffe
My comments were on dividend yield, and did not cover the investment merits of New Toyo.
Your point on the need to have balanced views on companies must be correct.
The rights issue was to enable Tien Wah to buy three printing presses and upgrade an existing one for short run printing jobs for BAT. That Tien Wah's profit has been improving significantly despite high depreciation arising from new asset acquisition may suggest that the rights issue was not ill-conceived.
Yen family was not allocated any excess shares. The unsubsribed shares went to small stakeholders who applied for excess shares.
It is a fact of life that generally controlling shareholders benefit more than small shareholders. During the recent EGM, shareholders seemed to think very well of Mr Yen for foregoing his $6 million bonus entitlements in the 11 years as the Executive Chairman.
I believe Portek was not tracked by institutions before the takeover offers were made by ICTSI and Mitsui.
I joined many in berating Shanghai Asia for selling its assets on the cheap. But the prospect of the company performing badly in the face of falling aluminium price has now caused me to reassess my original stand.
My comments were on dividend yield, and did not cover the investment merits of New Toyo.
Your point on the need to have balanced views on companies must be correct.
The rights issue was to enable Tien Wah to buy three printing presses and upgrade an existing one for short run printing jobs for BAT. That Tien Wah's profit has been improving significantly despite high depreciation arising from new asset acquisition may suggest that the rights issue was not ill-conceived.
Yen family was not allocated any excess shares. The unsubsribed shares went to small stakeholders who applied for excess shares.
It is a fact of life that generally controlling shareholders benefit more than small shareholders. During the recent EGM, shareholders seemed to think very well of Mr Yen for foregoing his $6 million bonus entitlements in the 11 years as the Executive Chairman.
I believe Portek was not tracked by institutions before the takeover offers were made by ICTSI and Mitsui.
I joined many in berating Shanghai Asia for selling its assets on the cheap. But the prospect of the company performing badly in the face of falling aluminium price has now caused me to reassess my original stand.