Tye Soon

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#1
Sounds like the bad boxer Tyson.

Business:

1) Car parts distribution
2) Food Distribution

(2) were sold for a substantial amount which company said will:
2.1 Repay bank borrowing
2.2 May pay out some cash distribution
2.3 Focus and expand car parts distribution

I think they may chose to do (2.1)

NAV of 0.21 cents

pls Read SGX announcement for more details.





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#2
3.6 cents cash distribution
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#3
The remaining core regional vehicle parts distribution business will still carry a load of debts to the tune of over $40m, after paying/accounting for the declared $9.9m 'jumbo' dividends payment.....
http://info.sgx.com/webcoranncatth.nsf/V...1003D043E/$file/2010FullYearResults.pdf?openelement
Quite clearly, the controlling shareholder Ong Family is more concerned about taking out cash from the company, than strengthening its B/S or supporting future business growth.

I have tried to quickly estimate the per share fair value of the remaining business based on its recurrent earnings, and the number came out to not a lot more than $0.10/share. So if Mr Market is rational or smart enough, those who choose to bet on the coming dividend at the current share price may end up a little disappointed, especially after the counter eventually goes ex-D.
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#4
Another dividend of 4.8+ cents. Good or bad?
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#5
it was very spectacular that Tye Soon with just NAV of 21 cents reached as high as 30 cents when only special dividend of 5 cents was declared in the early part of this year...

New Toyo with an understated NAV of 36.5 cents waiting to receive 2 batches of cash dividends from SAH (total - at least 12 cents, depending on how much premium of the 2nd batch) is only trading at 29.5 cents..

Just wondering when is Mr Market coming to its senses? Smile
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#6
Tye Soon seems to have come back to 21 cents as of yesterday. New Toyo seems to be at 31 cents
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