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Overview
Financial Highlight
HeadlinesBusiness Background Toyo Ink Group Bhd is a Malaysia based investment holding company engaged in manufacturing business, and operation of power plant business. The group’s two business segments are Manufacturing segment, which contributes majorly to the revenue of the company, and Trading an investment holding segment. Manufacturing segment includes manufacturing of printing ink, colour pigment, colourants for plastic, EDM cut-wire and graphic art, CNC machining of graphite and copper EDM electrodes, files, and chemicals. The company is also into production of electrical discharge machining tools, graphite materials and 3D profile metal components, through its subsidiaries. The group operates in Malaysia, Indonesia, and Vietnam of which revenue from Malaysia serves as the key revenue driver for the company.
 Be the first to like this.   durio https://nld.com.vn/kinh-te/thuc-tien-do-du-an-72000-ti-dong-o-hau-giang-20230214195817628.htm 15/02/2023 4:04 PM ValueInvestor888 thanks durio for the power plant information. Main point : Toyo representative said it is ready to pay the cost of site compensation and will complete it in the second quarter of 2023. 21/02/2023 9:47 AM teareader818 Durio's info showed the keeness of the Vets to have the project started. Left to Toyoven to tie up the loose ends. 21/02/2023 10:10 AM ValueInvestor888 In January 2021, TIGB has signed the Investment and Development Agreement (“IDA”), with China Energy Engineering Investment Corporation Limited (“CEEIC”) with the aim of providing a framework for the conditions precedent to investment and finalisation of the detailed terms and arrangements for the proposed divestment of TVHB’s equity interest in TIGB to CEEIC. However, in September 2021 during COP26, President Xi of the Republic of China made a speech to halt future investments in overseas coal fired thermal power plant. This resulted in definitive agreements with CEEIC put on hold. In October 2022, TIGB and its wholly-owned subsidiary, Song Hau 2 Power Company Limited (“SH2P”) signed the Term Sheet for Key Commercial Terms in relation to the Engineering, Procurement and Construction, Commissioning and Start-Up of Song Hau 2 Thermal Power Plant Project with Power Engineering Consulting Joint Stock Company 2 (“PECC2”), a public listed company in the Socialist Republic of Vietnam. The Term Sheet set out all the negotiated terms and mutual agreement of the responsibilities of the respective parties and the conditions precedent, contract price, terms of payment and other terms of agreements. The signing of the Term Sheet demonstrates the commitment of TIGB to fulfil the requirements of the BOT Contract and sourcing project financing for the Power Plant Project so that the ground works at the project site can commence without further delay. In November 2022, TIGB received a Letter of Interest from Export-Import Bank of Malaysia Berhad (“EXIM”) offering their services as Mandated Lead Arranger and Bookrunner (“MLAB”) and Coordinating Arranger (“CA”) for the Syndicated Financing Facilities of up to USD2.42 billion for the Power Plant Project (“Proposed Financing”). EXIM shall in consultation with TIGB manage all aspects of the syndication process in relation to the Proposed Financing, including timing, the selection of potential financiers, the acceptance and allocation of commitments and the amount of distribution of fees to potential financiers. In December 2022, TIGB and SH2P, collectively known as (“the Owner”) signed an Interim Engineering, Procurement, Construction and Commissioning Agreement (“Interim EPCC”) with Sunway Construction Sdn Bhd (“SW”/”Leader of Consortium”) and PECC2, collectively known as Sunway-PECC Consortium (“the Contractor”/”SWP2 Consortium”). The Interim EPCC set out all the negotiated terms and of the responsibilities of the respective parties and the conditions precedent, scope of work, procurement, site operations, contract price, terms of payment and other terms of agreements. This event signifies the commitment of the Owner to commence construction of the Power Plant in the shortest time possible, thus increase the certainty of the project materialising. 22/02/2023 2:43 PM teareader818 Can anyone explain how the project cost was greatly reduced from USD3.20 to USD2.40? 22/02/2023 8:18 PM ValueInvestor888 Project costs USD3.2 billion. 75% financed by debt ie around USD 2.4 23/02/2023 9:51 AM teareader818 Thanks! ValueInvestor888 Project costs USD3.2 billion. 75% financed by debt ie around USD 2.4 23/02/2023 2:05 PM  Michael Kwok U see wht i write before.please read. Can toyo got ong at rm 1.05-rm 1.10. 26/1/23 2.00pm U see now rm 1.60 range on 24/2/23 Join me sifu michael in facebook. Charge rm 150 per month. Better pay then loss big money,or miss oppurtunity. 24/02/2023 11:24 AM Just88 "In November 2022, TIGB received a Letter of Interest from Export-Import Bank of Malaysia Berhad (“EXIM”) offering their services as Mandated Lead Arranger and Bookrunner (“MLAB”) and Coordinating Arranger (“CA”) for the Syndicated Financing Facilities of up to USD2.42 billion for the Power Plant Project (“Proposed Financing”). EXIM shall in consultation with TIGB manage all aspects of the syndication process in relation to the Proposed Financing, including timing, the selection of potential financiers, the acceptance and allocation of commitments and the amount of distribution of fees to potential financiers. "---- It has been 3 months since, should be sufficient time to close the financing deal. Vietnam side may be getting impatient. Anyone has further info on this ? 24/02/2023 8:08 PM Just88 Song Hau 2 thermal power plant is very lucrative. That is why EXIM bank willing to fund this overseas power plant project. 28/02/2023 10:41 AM Just88 It is wise for Malaysia to finance this power project as it is the last few of BOT project that has the guarantee of MOIT and governed by international laws. And these PPA also has very high project IRR. 28/02/2023 3:32 PM Just88 It is wise for Malaysia to finance this power project as it is the last few of BOT project that has the guarantee of MOIT and governed by international laws. And these PPA also has very high project IRR. 28/02/2023 3:32 PM Just88 Insiders have first hand information on the progress of the financing status. 01/03/2023 5:18 PM Knilaobu All boils down to whether financing can be secured! Got to wait for news from EXIM Bank now, what's the financing status. 02/03/2023 10:39 AM firehawk No doubt, this ctr now is the subject of manipulation .... just like JAKS five years ago :D 03/03/2023 8:55 AM firehawk WA expires on 09Nov this year end, if they keep the price above 1.50 (at least at that time), there would be conversion that could bring in >80m ..... otherwise WA would be ended as waste paper and they get nothing ;D 03/03/2023 2:12 PM teareader818 Very positive news! Don't forget PECC2 is a Vietnamese state-owned company. Announcement of financial closure won't be far off. 09/03/2023 8:24 PM ValueInvestor888 PECC2 is a subsidiary of Vietnam Power which is state owned. Vietnam is in need of this power plant as they are still importing power from China and Laos. Site compensation will complete it in the second quarter of 2023. All these are positive signs. Share price up from 60sen to RM 1.40 in last few months. More news will be out in next few months. 10/03/2023 7:10 PM Just88 Aminvest expects the financial closing to be end of Q1 2023. My expectation is Toyoven needs to get everything done before 24th June 2023 which is likely to be the 6 months extension granted after vietnam received the letter of interest from EXIM bank of malaysia. 10/03/2023 8:05 PM Knilaobu Awarding contracts are flying around everywhere. The crux of giving contracts is the source of funds, ie financing. Contractors will be very concerned on payment security, ie proof of funds, while securing financing is yet an unknown. 11/03/2023 10:46 AM teareader818 @ Knilaobu, are you still having your Bentayga-sized investment in Toyovan? 11/03/2023 6:36 PM Knilaobu With no news on certainty for FC, anybody with a reasonable mind will square off and not take position till some light seen in the FC progress. So far, hear no news, see no stars. SVB fallout spreads around world from London to Singapore https://www.thestar.com.my/aseanplus/aseanplus-news/2023/03/12/svb-fallout-spreads-around-world-from-london-to-singapore#.ZA2hynOCAkU.whatsapp If the collapse of 2 major banks in US continues to intensify, making liquidity even more challenging in the financial sector, apart from the ESG Act. Is there FC or fallacy! 12/03/2023 8:36 PM teareader818 I think financing for the project has been secured only waiting to be announced. I have been in and out of this company for a number of years and hope I'm right this time around for not pulling the trigger. 13/03/2023 5:02 PM ValueInvestor888 Price at 60 sen.... priced in the company is going to fail in its power plant. Price under extreme pessimism. Price at 1.40 sen... priced in high chance to achieve financial close... Financial close official announcement, price may break RM 2... 13/03/2023 7:05 PM ValueInvestor888 by the time they announce financial close, price maybe already hit RM2. Retail investors may have to chase high which is risky. Only those dare to bet when price at around 60sen will make a lot of money. Few months ago already got some indications that project is a go... 20/03/2023 11:57 AM ValueInvestor888 YTL Power, another value buy as current price still less than 86 sen? At current price, how many investors will buy? What if the price shoot up to RM 1.20 in next few months, how many investors will chase? 20/03/2023 2:01 PM teareader818 Has anyone worked out the revenue from the electricity supplied? Should Jaks x 2 be a good indicator? 20/03/2023 7:04 PM Just88 Yes, it is a good indicator teareader818 Has anyone worked out the revenue from the electricity supplied? Should Jaks x 2 be a good indicator? 21/03/2023 3:38 PM teareader818 It strikes me that the power plant project is handled by the major shareholders (creditors). It was probably their idea, to use Toyoven as the platform to secure the SH2 project. On paper, they acted as passive investors, but in actual fact, they went all out from day one. After 15 years of endeavor, they are now almost there. When their Chinese partners withdrew, I believe it was a blessing in disguise because instead of 40% they now totally own it. We now hope that they will fully maximize the benefits that can be extracted from this project. 22/03/2023 2:57 AM ValueInvestor888 creditors or investors accept the “ICULS” at RM 1.25 as settlement may mean price can hardly go below that. Any price around that price is a buy. 22/03/2023 10:57 AM teareader818 The major shareholders and their proxies, by now, must be controlling a very substantial percentage of the shares. They who seemingly have deep pockets (unlike the owners of Jaks), may not resort to further dilution of the shares in the future. Let's hope their main objectives are price appreciation and dividend income. In doing so, they can transform Toyo to become a sought-after blue chip in the future. 23/03/2023 4:32 PM | |
