New Toyo

[Underdogger]

SAH was conceived to tap onto the play on China’s domestic tobacco. New Toyo was smart enough to exit SAH at its peak, failing which the business might be "swallowed" by the Chinese crooks - Liu Family.

This time round, the perspective is different - it would be to support foreign companies (BAT, PMI, etc) inroads into China.

New Toyo Paper Products (Shanghai)’s production probably cannot meet the current demand.
Looks like there is request for a lot more specialty paper business, requiring a new subsidiary to be set up.

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The Board of Directors of New Toyo International Holdings Ltd (the “Company”) wishes
to announce that its wholly-owned subsidiary, New Toyo Paper Products (Shanghai)
Co., Ltd (“NTPS”), has incorporated a wholly-owned subsidiary, Nanning Shen Jiu
Packaging Materials Company Ltd (the “New Subsidiary”), in the People’s Republic of
China.

The New Subsidiary has been incorporated for investment holding purpose.

The incorporation of the New Subsidiary will not have any material impact on the
consolidated net tangible assets and earnings per share of the Group for the financial
year ending 31 December 2013.

None of the Directors or controlling shareholders of the Company have any interest,
direct or indirect (other than through their shareholdings in the Company), in the
incorporation of the New Subsidiary.

By Order of the Board
Lee Wei Hsiung
Company Secretary
7 August 2013