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stockerman - Tuesday, 23 July 2013 09:06 (Comments at Nextinsight)

From the point of view of the equity holders, there might not be much “value creation” as can be seen from the small "edging up" of EPS (pre and post BAT contract). Had Tien Wah not secured the BAT contract, it would have been much worse for Tien Wah and New Toyo.

Let me give a simple analogy. The GDP of the country is growing bigger every year but in terms of real growth to each member of the country, we have to look at GDP per capita. Similarly, in terms of value creation to each equity holder of the company, we look at EPS attributable to equity holders and not group EPS, which is analogous to “GDP of the country”.

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Had there been so much "value creation" from the BAT contract, why are there still so many disgruntled equity holders?

If Tien Wah/New Toyo can REIT their entire laundry list of property holdings, this would help in profiling New Toyo as well...

http://www.nextinsight.net/index.php/sto...n-two-days

no need to reit them, just sell them at market value to the reit companies will suffice..?

The relationship b/w BAT and Tien Wah/New Toyo is further cemented with the appointment of Datuk Toh Ah Wah.
Probably, BAT is going to contract a lot more printing jobs to Tien Wah with the emergence of new markets (e.g. Myanmmar, Philippines, etc).

There is also the new appointment of yet another ID....

http://www.bursamalaysia.com/market/list...ts/1358009

Working experience
- Joined Rothmans of Pall Mall (Malaysia) Berhad in 1981 and held several portfolios over the years including Area Manager and Marketing Manager
- Seconded to China in 1991 and has held various positions including:
- General Manager for Shandong Rothmans Tobacco Company Limited, China (1991-1994)
- Sales & Marketing Director China/Hong Kong for Rothmans (Far East) Limited (1994-1996)
- General Manager Taiwan of Rothmans (Far East) Taiwan Limited (1996-1997)
- General Manager China/Hong Kong of Rothmans (Far East) Limited (1997-1998)
- Managing Director Greater China of Rothmans (Far East) Limited (1998-1999).
- Joined British American Tobacco (Malaysia) Berhad ("BATM") in 1999 and thereafter held various positions including:
a) Business Development Director China for British American Tobacco Asia Pacific North (1999-2003)
b) Managing Director of British American Tobacco New Zealand Limited (2003-2005)
c) Managing Director of Pakistan Tobacco Company Limited (2005-2008)
d) Double-hatted as the Area Director of British American Tobacco South Asia Area (2007-2008)
e) Area Director of Indonesia Cluster (covering the markets of Indonesia, Thailand and Philippines)(2008-2009)
f) Regional Project Manager of British American Tobacco Asia Pacific Region Limited (2008-2009)
g) Managing Director of BATM (2009-30 June 2013)

From what you are saying, Tien Wah / New Toyo are the new Myanmar plays - should be valued at a valuation closer to that of Yoma....

Er... how come nothing traded on N Koyo today...

(24-07-2013, 08:52 AM)Underdogger Wrote: [ -> ]The relationship b/w BAT and Tien Wah/New Toyo is further cemented with the appointment of Datuk Toh Ah Wah.
Probably, BAT is going to contract a lot more printing jobs to Tien Wah with the emergence of new markets (e.g. Myanmmar, Philippines, etc).

There is also the new appointment of yet another ID....

http://www.bursamalaysia.com/market/list...ts/1358009

Working experience
- Joined Rothmans of Pall Mall (Malaysia) Berhad in 1981 and held several portfolios over the years including Area Manager and Marketing Manager
- Seconded to China in 1991 and has held various positions including:
- General Manager for Shandong Rothmans Tobacco Company Limited, China (1991-1994)
- Sales & Marketing Director China/Hong Kong for Rothmans (Far East) Limited (1994-1996)
- General Manager Taiwan of Rothmans (Far East) Taiwan Limited (1996-1997)
- General Manager China/Hong Kong of Rothmans (Far East) Limited (1997-1998)
- Managing Director Greater China of Rothmans (Far East) Limited (1998-1999).
- Joined British American Tobacco (Malaysia) Berhad ("BATM") in 1999 and thereafter held various positions including:
a) Business Development Director China for British American Tobacco Asia Pacific North (1999-2003)
b) Managing Director of British American Tobacco New Zealand Limited (2003-2005)
c) Managing Director of Pakistan Tobacco Company Limited (2005-2008)
d) Double-hatted as the Area Director of British American Tobacco South Asia Area (2007-2008)
e) Area Director of Indonesia Cluster (covering the markets of Indonesia, Thailand and Philippines)(2008-2009)
f) Regional Project Manager of British American Tobacco Asia Pacific Region Limited (2008-2009)
g) Managing Director of BATM (2009-30 June 2013)

No one is interested in New Toyo... Mr Market has told us that.

BAT-linked ID joining Tien Wah's board does not mean Tien Wah is going to win new tender bids if their price is not competitive enough...
Amvig is much more cost-efficient compared to Tien Wah...

Tks GG for the comment

EPS Loss (from tissue paper) amounting to more than 10 cents???
There is equivalent to approx 3 yrs of earnings based on FY12 actual results.

One wrong investment led to 4 wasted years??

No wonder investors shunned his counter...

(20-07-2013, 11:35 AM)Stockerman Wrote: [ -> ]If Tien Wah could not even be bothered with “erroneous financial ratios” being published on their official website, why would anyone go and argue with them what should be the correct ratios reflective of their underlying performance...

Even going by audited results, the "edging up" of EPS (attributable to equity holders) is miniscule. Did it even cover inflation growth? Highly doubtful.
All the more one should refer to "EPS attributable to equity holders" for comparision, from the pt of view of shareholders of that company.

Why went through the big trouble of doing rights issue and only get to enjoy that miniscule edging up of EPS?

Looking at New Toyo's EPS (now compared to pre-BAT times), it is even worse.
Can someone help to dig and show it to everyone here ?

Still remember that tissue paper business? If I am not mistaken, the loss in EPS is more than 10 cents (to equity holders, of course) !!!

Many tks.

Every shun this counter? I am not sure.

But, what I am sure is Mr Stockerman NEVER SHUN. Whilst running down this counter, he holds tightly to his more than 700 lots and enjoyed his more than ten thousand dollars dividend....

HA HA ha haaaaaaaaaaaaaaaa

No personal attacks please. I hope forumers can be considerate and behave in civilised manner.
Take with a pinch of salt on forummers' postings, do your own research.

Some questions on my mind:
If the stock price is down, is it only Stockerman who can accumulate, others are banned from buying ?
Do you believe that Stockerman can talk down or up a counter ?
Is there such a person, buying or selling only based on Stockerman postings ? Who is Stockerman, an investment guru ?

For Stockerman : Since other forummers have been annoyed by your noises, I hope you can be silent for a while.

If the forummers just want to hear the good things and concurrent opinions, I think this forum is not suitable for them.

Not vested in Stockerman, I even don't know who Stockerman is.
Also not vested in New Toyo.

agreed tt forumers r free to express their views since this is a forum but to give repeated similar views on the same topic constantly is not being useful n productive n annoying to others. i don't see any usefulness in someone putting similar comments day in and day out.
as advised by the moderators, other forumers are also free to place positive or negatives in a particular member's reputation.