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Saturday, 25 August 2012

SRS - Closing Status 24 Aug

New Toyo declared a lower dividend payout of $0.80 versus previous year's $0.97.  This is probably the reason for its share price softness recently.  I have already received my first round of advance dividend of $60 (actual would be 8 lots x $0.80 = $64) and now hoping to get a second round of it when l have re-invested into New Toyo 20 lots this week under SRS portfolio. But this time round it is probably slightly lower at around $140 ---> expected advance dividend to 'receive' 20 lots x $0.80 = $160 versus (1) selling at $0.285, gain of $140 or (2) selling at $0.29, gain of $240.  Even if l am stuck with this investment, l continue to believe New Toyo management is able to bring more business and profit despite its divestment of profitable associate company Shanghai Asia Holdings.  New Toyo also sold off its loss making Pakistan subsidiary.  Future revenue would be affected due to plain packaging guidelines in Australia starting from Dec'12 but unlikely to cause huge impact on its profit because of corresponding cost of production reduction.  New Toyo is definitely not resting on its laurels as it is actively seeking Infinite Possibilities.  

I have also invested into Valuetronics 25 lots this week under SRS portfolio. Its share price gone into after XD on 23 July.  In its 1Q13 results, revenue was higher 20% yoy but at lower profit margin because of product mix.  Inventories, Receivables, Bank balances and Trade Payables are also higher but l reckon these are due to effect of higher revenue in 1Q13. Valuetronics ceased its loss making Licensing business and will be recording its termination expenditure in next quarter (2Q13).  I think this is an important development as it continues to be forward looking and not hesitate on Adaptability to a changing marketplace.

Portfolio walk since previous posting :-

+$1,428 Total Returns as of 10 Aug

+$31 Unrealised positions improved

+$1,459 Total Returns as of 24 Aug

previous posting :- SRS - Closing status 10 Aug

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