New Toyo

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(19-05-2012, 08:28 AM)ken Wrote:
(17-05-2012, 02:50 PM)Underdogger Wrote: Did anyone take a good look at Tien Wah's 2011 Annual Report?

Hope you dont fall off your chair... Smile

So, what is the results when reflected in New Toyo financial statements ?

I read from Reuters and understand that Tien Wah is paying
MYR17 cts as dividends.

By the way do you know how may shares did New Toyo has
in Tien Wah ?

Many Thanks.
# of TWP shares own by NTI: 52,203,260 or 54.10% out of total of 96,495,000 shares.

Group General Manager’s (Jacco Dijke) Review has some interest outlook for 2012:
"In 2012 our internal revenue
growth target is mid-to-high single digit and we are expecting
most of this growth to come from supply relevant to the greater
Asia area.
To further support this, we are also looking forward
to commencing full implementation of our integrated ERP
system which will deliver further benefits to our customers and
ourselves."

Tien Wah AR 2011 see the following URL:
http://announcements.bursamalaysia.com/E...00046fd5a/$FILE/TIENWAH-Cover%20to%20Page%2028%20(3.4MB).pdf

http://announcements.bursamalaysia.com/E...00046fd5a/$FILE/TIENWAH-Page%2029%20to%20ProxyForm%20(2.3MB).pdf

Q1 2012 result:
Revenue (RM'000): $97,458
Profit/(loss) attributable to ordinary equity holders of the parent (RM'000) : $4,020
EPS (RM Cents): 4.17
http://announcements.bursamalaysia.com/E...enDocument
Reply
Tien Wah is a hidden gem...pay close attention to where its factories are sited Smile


(19-05-2012, 10:06 PM)ngcheeki Wrote:
(19-05-2012, 08:28 AM)ken Wrote:
(17-05-2012, 02:50 PM)Underdogger Wrote: Did anyone take a good look at Tien Wah's 2011 Annual Report?

Hope you dont fall off your chair... Smile

So, what is the results when reflected in New Toyo financial statements ?

I read from Reuters and understand that Tien Wah is paying
MYR17 cts as dividends.

By the way do you know how may shares did New Toyo has
in Tien Wah ?

Many Thanks.
# of TWP shares own by NTI: 52,203,260 or 54.10% out of total of 96,495,000 shares.

Group General Manager’s (Jacco Dijke) Review has some interest outlook for 2012:
"In 2012 our internal revenue
growth target is mid-to-high single digit and we are expecting
most of this growth to come from supply relevant to the greater
Asia area.
To further support this, we are also looking forward
to commencing full implementation of our integrated ERP
system which will deliver further benefits to our customers and
ourselves."

Tien Wah AR 2011 see the following URL:
http://announcements.bursamalaysia.com/E...00046fd5a/$FILE/TIENWAH-Cover%20to%20Page%2028%20(3.4MB).pdf

http://announcements.bursamalaysia.com/E...00046fd5a/$FILE/TIENWAH-Page%2029%20to%20ProxyForm%20(2.3MB).pdf

Q1 2012 result:
Revenue (RM'000): $97,458
Profit/(loss) attributable to ordinary equity holders of the parent (RM'000) : $4,020
EPS (RM Cents): 4.17
http://announcements.bursamalaysia.com/E...enDocument
Reply
I suppose it is related the following thread you had created Smile Smile. However, their 'gem' factories are leasehold with a remaining leased period of 47 years.

http://www.valuebuddies.com/thread-2082....aling+Jaya
Reply
6-arce land cost 135mil RM or 516 RM psf.
And on top of this, Star will get part of the returns from the redevelopment???

I understand that one just need to pay a small admin fee to convert to renew the leasehold to 99 yrs because Selangor govt has specially designed that piece of land for redevelopment. All these are just small side issues. The greater issue is how many TIMES the owner can flip its original piece of land once it is redeveloped, and the right timing for a JV with some big developers for a bonanza harvest in the years ahead….

Is the reward greater for Tien Wah to hold out towards the end? Waiting patiently for all the surrounding to be acquired and redeveloped into a fantastic commercial hub first because this way, a higher premium is likely to be paid for the remaining pieces of precious land?

Basically, Tien Wah is located SMACK on a GOLD MINE......
*********
http://biz.thestar.com.my/news/story.asp...c=business

Star sold the 6-acre odd land last year to JAKS Island for RM135mil. In return, Star will get a 13-storey office building with a gross build-up of 270,000 sq ft known as Star Tower. There is a 9-storey attached podium, part of which will be for retail use.

The office suites and serviced apartments will be sold at more than RM700 per sq ft, with a maintenance service and sinking fund of 33 sen per sq ft. Utilities will be 25% to 30% higher than if it were on a residential title development. The units put up for registration this weekend include office suites ranging from 341 sq ft to 600 sq ft.

Ngan said Sect 13, bordered by Jalan Kemajuan, Jalan Semangat and Jalan Universiti, would be converted into a bustling special project area.



(20-05-2012, 06:10 AM)ngcheeki Wrote: I suppose it is related the following thread you had created Smile Smile. However, their 'gem' factories are leasehold with a remaining leased period of 47 years.

http://www.valuebuddies.com/thread-2082....aling+Jaya
Reply
Hope New Toyo crashes and I can buy some Smile

(20-05-2012, 12:21 PM)Underdogger Wrote: Is the reward greater for Tien Wah to hold out towards the end? Waiting patiently for all the surrounding to be acquired and redeveloped into a fantastic commercial hub first because this way, a higher premium is likely to be paid for the remaining pieces of precious land?

Basically, Tien Wah is located SMACK on a GOLD MINE......
*********
http://biz.thestar.com.my/news/story.asp...c=business
Reply
http://announcements.bursamalaysia.com/e...50039BF04/$File/Fraser%20&%20Neave%20Holdings%20Bhd_Announcement%20on%2011%20November%202011.pdf

There is no doubt that Tien Wah may turn out to be a undervalued property play. However, based on the above announcement (latest known) by F&N Holdings Berhad - psf of RM250 appears to be a benchmark for land in the area without extension of lease.

With factory and dorm land area of 140367sf for Tien Wah, the surplus is around RM5.6m.

Big deal or not - caveat emptor
Reply
Just add up the 2 big pieces of land at Jalan Semangat (New Toyo share = 54%) and the big piece of land at outskirt of Sydney owned by Anzpac ( New Toyo share = 76%) plus New Toyo own investment properties You can easily get back 10 cents. This is just pure selling of land at book value without any premium being added from future redevelopment . All these are legacy issues and land holdings will need to be rationalised. Tien Wah has already stated this intention in its annual report back in 2008 .

New Toyo's Share of SAH asset sales = 13 cents.

Market is simply irrational ... The sleepy dragon will wake up one day ...
Already easily 20 cents from non-core business

(21-05-2012, 01:05 PM)greengiraffe Wrote: http://announcements.bursamalaysia.com/e...50039BF04/$File/Fraser%20&%20Neave%20Holdings%20Bhd_Announcement%20on%2011%20November%202011.pdf

There is no doubt that Tien Wah may turn out to be a undervalued property play. However, based on the above announcement (latest known) by F&N Holdings Berhad - psf of RM250 appears to be a benchmark for land in the area without extension of lease.

With factory and dorm land area of 140367sf for Tien Wah, the surplus is around RM5.6m.

Big deal or not - caveat emptor
Reply
The rest of the prop i can't comment much but australia u can conveniently forget it. just take a leave from St****** u will know how looooong it takes

(21-05-2012, 02:01 PM)Underdogger Wrote: Just add up the 2 big pieces of land at Jalan Semangat (New Toyo share = 54%) and the big piece of land at outskirt of Sydney owned by Anzpac ( New Toyo share = 76%) plus New Toyo own investment properties You can easily get back 10 cents. This is just pure selling of land at book value without any premium being added from future redevelopment . All these are legacy issues and land holdings will need to be rationalised .

New Toyo's Share of SAH asset sales = 13 cents.

Market is simply irrational ... The sleepy dragon will wake up one day ...


(21-05-2012, 01:05 PM)greengiraffe Wrote: http://announcements.bursamalaysia.com/e...50039BF04/$File/Fraser%20&%20Neave%20Holdings%20Bhd_Announcement%20on%2011%20November%202011.pdf

There is no doubt that Tien Wah may turn out to be a undervalued property play. However, based on the above announcement (latest known) by F&N Holdings Berhad - psf of RM250 appears to be a benchmark for land in the area without extension of lease.

With factory and dorm land area of 140367sf for Tien Wah, the surplus is around RM5.6m.

Big deal or not - caveat emptor
Reply
I think on average it takes about 3 years to redevelop starting from scratch...the timeline might have started back in 2008/2009 when the Selangor govt designed PJ section 13 to be the "Orchard Road" of Malaysia...
Selangor Govt deemed it as prime strategic location...The state is faciliating the whole process Smile


***************

By Au Foong Yee of theedgepropety.com
Monday, 09 November 2009

SHAH ALAM: Certain industrial and older housing enclaves in Petaling Jaya (PJ), Klang and Kajang have been identified for redevelopment in a bid by the Selangor state government to enhance their land value and to create a stimulus for the state.

Selangor Menteri Besar Tan Sri Abdul Khalid Ibrahim said on Nov 9 the regeneration exercise would kick off in PJ. Owners of buildings in �three or four� areas, among them Section 13, would be given incentives to redevelop their buildings into commercial use.

�We have written to the industries concerned to relocate. If they agree to move, they can rebuild on the existing tract commercial property with certain densities,� Abdul Khalid told The Edge Financial Daily and theedgeproperty.com. These industrial operations will be allowed to be relocated to other more acceptable areas in Selangor, such as those near ports, he said.

The redevelopment was in the interest of the property owners, stressed the Menteri Besar. �What we gain is that PJ will become redeveloped and vibrant. They [land owners] will make the money � the state is just making the environment conducive for them.�

He was also asked about redevelopment creating traffic- and transportation-related issues, congestion being at the top of many people�s worries. Won�t residents complain? �In a way, yes,� conceded Abdul Khalid.

�We have to show them that we cannot leave PJ in this [current] manner; we have to convince them that we will plan for and provide facilities to reduce congestion.�

Towards this end, the state government has asked for another transportation study to be carried out, based on the increased densities in the areas concerned. This is to establish whether the higher densities were feasible. The concept of park and ride was also being considered.

According to a report in City & Country, the property pullout of The Edge weekly earlier this year, the 220-acre hub of industrial activities in Section 13 is now dotted with �limited commercial� developments in the form of modern offices and retail blocks.

Factories have been operating in Section 13 since the 1960s but in recent years, its growing potential for commercial activities could not be ignored, given its strategic location. This explained the Petaling Jaya City Council�s approval for �limited commercial� activities there, based on certain guidelines.

Meanwhile, on the revival and rehabilitation of abandoned housing in Selangor, Abdul Khalid said the state government had been quite successful � thanks to land value appreciation over time, resulting in people willing to pay more for the completed units.

The challenge, however, was in the selection of the best contractors or developers to complete the projects.

Some of the projects were initiated by the state government, which was willing to lose �a bit� so long as the project is completed, added Abdul Khalid.
Reply
think you forgot a very important point..

VCSB used to be a whole-owned subsidiary of F&N. With the redevelopment, VCSB will be jointly owned by F&N and FCLC (50% equity from each party)
So the land was sold rather “cheaply” to VCSB. Even then the land (about 13 acres) was sold at 138.57 mil RM or 250 RM psf.

So F&N wants to have the pie and eat it as well. It wants the future revenue streams. That was why the land was sold so cheaply to the JV company (VCSB).


And taking another reference the Star Re-Development (highlighted by Underdogger above),

6-arce land cost 135mil RM or 516 RM psf.
And on top of this, Star will get to keep X nos of floor of the new 13-storey development?? What a GOOD DEAL!!!


(21-05-2012, 01:05 PM)greengiraffe Wrote: http://announcements.bursamalaysia.com/e...50039BF04/$File/Fraser%20&%20Neave%20Holdings%20Bhd_Announcement%20on%2011%20November%202011.pdf

There is no doubt that Tien Wah may turn out to be a undervalued property play. However, based on the above announcement (latest known) by F&N Holdings Berhad - psf of RM250 appears to be a benchmark for land in the area without extension of lease.

With factory and dorm land area of 140367sf for Tien Wah, the surplus is around RM5.6m.

Big deal or not - caveat emptor
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