specialty paper segment is just too competitive and the GPM is rather low...this segment has been going downhill for 3 straight years
when the music stops playing, people will start to scramble out....
Can start to see some heavy selling off of Tien Wah this morning
[Empirical evidence]
(16-05-2013, 07:44 AM)xlandjy Wrote: [ -> ] (15-05-2013, 11:21 PM)investright Wrote: [ -> ] (15-05-2013, 10:31 PM)pianist Wrote: [ -> ]just read 1q result today..steady...
Overall, i wouldn't be 'greatly' disappointed with the results. Numbers seem pretty stable. Also, some statements made by the company are worth an interesting look:
The Group expects to receive its share of the cash distribution from SAH, approved in the latter's Extraordinary General Meeting on 30 April 2013.
The Specialty Papers business has participated in a tender for a long term supply agreement with our major customer and we are confident that we would be successful in securing the contract.
The economic outlook continues to be uncertain. However we remain cautiously optimistic regarding the Group's performance as the industry that we are in remains resilient.
I agree. But be wary of certain forummers who kept talking down the stock but never sell his holding of the shares. BEWARE.
dividend is dropping over the years...
2009 - 2.0 cents
2010 - 1.94
2011 - 1.94
2012 - 1.70
2013 - ??
(15-05-2013, 03:00 PM)pianist Wrote: [ -> ]dividend yield of about 4% ..i think these buyers had probably bought to hedge against the inflation..nice deal i would say
hmm..that doesn't look nice...thks for pting this out
ended at 0.325..much higher than before the x-d price..NT shareholders who have held on the ride reap the dividends as well as the higher price now..
If expectation does not pan out, it will just drop back to earth much harder..
no rocket science is needed...
is the movement of New toyo due to general market or its own specific factors?
(17-05-2013, 06:59 PM)pianist Wrote: [ -> ]ended at 0.325..much higher than before the x-d price..NT shareholders who have held on the ride reap the dividends as well as the higher price now..
(17-05-2013, 10:42 AM)Stockerman Wrote: [ -> ]dividend is dropping over the years...
2009 - 2.0 cents
2010 - 1.94
2011 - 1.94
2012 - 1.70
2013 - ??
(15-05-2013, 03:00 PM)pianist Wrote: [ -> ]dividend yield of about 4% ..i think these buyers had probably bought to hedge against the inflation..nice deal i would say
The number of New Toyo shares increased by 60% in 2010 in a rights issue at 12c apiece. In that year, dividend payout was 55% higher than the year before; and the dividend yield of the rights share was 16%.
At the last closing price of 32.5c, dividend yield is more than 5%.
So there was a bumper harvest for shareholder just not long ago in 2010. What the reason for the rights?
Winning the specialty paper contract does not mean much if the GPM was so thin that it would be akin to swallowing a poison pill.
In the AGM last year, New Toyo informed shareholders that the poor result for specialty paper was due to the loss of 2 "markets". It also mentioned that it managed to secure a supply contract (specialty paper) in the Phillipines. But this has not seemed to lift the results of specialty paper segment in FY2012.
What does this say about the GPM for specialty paper? {empirical evidence)
The company has been using the words "cautiously optimistic" for the last few years. It does not mean much...
(15-05-2013, 11:21 PM)investright Wrote: [ -> ] (15-05-2013, 10:31 PM)pianist Wrote: [ -> ]just read 1q result today..steady...
Overall, i wouldn't be 'greatly' disappointed with the results. Numbers seem pretty stable. Also, some statements made by the company are worth an interesting look:
The Group expects to receive its share of the cash distribution from SAH, approved in the latter's Extraordinary General Meeting on 30 April 2013.
The Specialty Papers business has participated in a tender for a long term supply agreement with our major customer and we are confident that we would be successful in securing the contract.
The economic outlook continues to be uncertain. However we remain cautiously optimistic regarding the Group's performance as the industry that we are in remains resilient.
(19-05-2013, 09:20 AM)pianist Wrote: [ -> ]So there was a bumper harvest for shareholder just not long ago in 2010. What the reason for the rights?
The rights issue was to raise money for New Toyo to subscribe its entitled Tien Wah rights shares. Tien Wah's rights issue was to pare down its borrowings taken to buy more equipment to meet BAT's requirement for more frequent package refreshing.
Does this imply that every time Tien Wah needs to expand to meet its Master's (i.e. BAT) requirements, it has to do rights issue?
Shouldn't the business be self-sustainable after a certain stage, without the need for additional fresh funding from shareholders?
(19-05-2013, 09:15 PM)portuser Wrote: [ -> ] (19-05-2013, 09:20 AM)pianist Wrote: [ -> ]So there was a bumper harvest for shareholder just not long ago in 2010. What the reason for the rights?
The rights issue was to raise money for New Toyo to subscribe its entitled Tien Wah rights shares. Tien Wah's rights issue was to pare down its borrowings taken to buy more equipment to meet BAT's requirement for more frequent package refreshing.