Declaration of Interim single tier dividend of 12.5% in respect of the financial year ending 31 December 2015.
Period of interest payment
to
Financial Year End
31 Dec 2015
Share transfer book & register of members will be
to closed from (both dates inclusive) for the purpose of determining the entitlement
Registrar or Service Provider name, address, telephone no
TRICOR INVESTOR SERVICES SDN BHDUnit 32-01, Level 32, Tower A, Vertical Business SuiteAvenue 3, Bangsar SouthNo. 8, Jalan Kerinchi59200Kuala LumpurTel:0327839299Fax:0327839222
Payment date
08 Dec 2015
a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers
01 Dec 2015
b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit
c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.
Number of new shares/securities issued (units) (If applicable)
Teo Seng Capital Berhad -Proposed Final Single-Tier Dividend
The Board of Directors of Teo Seng Capital Berhad ("the Company") is pleased to recommend a proposed final single-tier dividend of 5.00% in respect of the financial year ended 31 December 2015. The entitlement date and payment date would be announced at a later date.
The aforesaid proposed final single-tier dividend is subject to the approval of the shareholders at the Company's forthcoming annual general meeting.
Today, I have finally sold off Teo Seng & Teo Seng-WA for RM 1.30 & RM 0.475 respectively after reviewing the latest quarter report. I was foolish though. I could have sold them a few months ago for higher returns but I choose to hold on to them for a bit longer. I call this the 'Love your stock' symptom.
As many seasoned investors should have known, we must never fall in love with any stocks that we invest in. When fundamentals deteriorate, we should make a selling decision. And today, I sell based on the following:
A weak ringgit is not good for business as ingredients for prices of chicken feed is quoted in USD (mainly corn & soybean). Although prices are considered low compared to these few years, weak ringgit means business have to fork out more to purchase them in USD.
Local egg prices are controlled by the Government. Current egg prices are still considered low and will affect profits.
In the egg/poultry business, there is no huge business moat (i.e branding recognition). Yes, there is brand recognition for home consumers, but when you eat outside, you never hear people ordering 'Telur Separuh Masak Nutri-Plus' at mamaks or restaurants.
I do not know how long Ringgit will continue to weaken but I doubt it can return to RM3.30 vs 1USD in the near future. Therefore, Teo Seng's profits will continue to be hit hard and it will be challenging for profits to be on par with pre-2015 levels. Having said that, it is still possible that I may re-visit this stock years down the road when fundamentals are better.
Note: My profits from selling off Teo Seng & Teo Seng-WA amount to 109.3% & 5.6% respectively (dividends included). I have been holding Teo Seng since June 2014 and Teo Seng-WA since February 2015.
Disclaimer: This article represents my personal views on Teo Seng and egg/poultry business as a whole. It does not constitute a BUY/HOLD/SELL call. Please do your own research beforehand. Thank you.
Final dividend of 5.0% in respect of the financial year ended 31 December 2015 under the single-tier systems.
Period of interest payment
to
Financial Year End
31 Dec 2015
Share transfer book & register of members will be
to closed from (both dates inclusive) for the purpose of determining the entitlement
Registrar or Service Provider name, address, telephone no
TRICOR INVESTOR & ISSUING HOUSE SERVICES SDN BHDUnit 32-01, Level 32, Tower A, Vertical Business Suite, Avenue 3, Bangsar South, No. 8, Jalan Kerinchi 59200 Kuala Lumpur Wilayah Persekutuan Malaysia03 -27839299
Payment date
22 Jul 2016
a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers
11 Jul 2016
b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit
c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.
Number of new shares/securities issued (units) (If applicable)
TEO SENG CAPITAL BERHAD (the Company or Teo Seng )- Incorporation of Ritma Premier Pte Ltd, a new wholly-owned subsidiary in Singapore
TEO SENG CAPITAL BERHAD (the “Company” or “Teo Seng ”)
- Incorporation of Ritma Premier Pte Ltd, a new wholly-owned subsidiary in Singapore
1. INTRODUCTION
The Board of Directors of the Company wishes to announce that Ritma Prestasi Sdn Bhd, a wholly-owned subsidiary of the Company had on 24 June 2016, incorporated a new wholly-owned subsidiary under the name of Ritma Premier Pte. Ltd. in Singapore.
2. INFORMATION OF RITMA PREMIER PTE. LTD.
Ritma Premier Pte. Ltd. was incorporated on 24 June 2016 and has an issued and paid-up share capital of SGD1 comprising of 1 ordinary share. Its intended principal activity is distribution of pet food, medicine and other related animal health products. The Directors are Mr Lau Jui Peng, Mr Lau Joo Han, Mr Nam Hiok Joo and Mr Na Eluen .
3. FINANCIAL EFFECTS
The above incorporation will not have any material effect on the earning per share, net assets per share, gearing, share capital and substantial shareholders’ shareholding of the Company and its subsidiaries (the “Group”) for the financial year ending 31 December 2016.
4. RATIONALE
The said incorporation is to facilitate the expansion in the sales of animal health products in Singapore and fully utilise the sole distributorship rights currently held by Ritma Prestasi Sdn Bhd.
5. INTERESTS OF DIRECTORS AND/OR MAJOR SHAREHOLDERS AND/OR PERSON CONNECTED TO THEM
None of the directors and/or major shareholders of the Company, and/or persons connected to such director and/or major shareholders have any interest, direct or indirect, in the said incorporation.
6. STATEMENT BY BOARD OF DIRECTORS
The Board of Directors of the Company is of the opinion that the incorporation of a new wholly-owned subsidiary by Ritma Prestasi Sdn Bhd is at the best interest of the Group.
7. APPROVAL REQUIRED
The said incorporation is not subject to the approval of the shareholders of the Company and any other relevant authorities.
TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description
TEO SENG CAPITAL BERHAD ("Teo Seng" or "the Company") Sale and Purchase Agreement ("SPA") between Mr. Lim Meng Bin and Mr. Ng Eng Leng and Great Egg Industries Sdn. Bhd.(Formerly known as Forever Best Supply Sdn Bhd ("Great Egg"), a wholly owned subsidiary of Teo Seng Farming Sdn Bhd ("TSF") , which in turn is a wholly owned subsidiary of Teo Seng Capital Berhad ("Teo Seng"or "the Company") for the Acquisition of land
The Board of Directors of Teo Seng wishes to announce that Great Egg, a wholly-owned subsidiary of TSF, which in turn is a wholly owned subsidiary of the Company had on 5 August 2016 entered into a SPA with the following persons to acquire a piece of vacant freehold industrial land held under HS(D) 62610 PTD 29422, Mukim Tanjung Sembrong, Daerah Batu Pahat , Negeri Johor measuring in area approximately 65,749.46 square feet (0.6108 hectares) (“the Land”) at the purchase price of RM1,643,736-50 (Ringgit Malaysia One Million Six Hundred Forty-Three Thousand Seven Hundred Thirty-Six and Sen Fifty only ) (“Proposed Acquisition of Industrial Land”):-
a) Mr. Lim Meng Bin (NRIC No. 500904-01-5397), Director of the various subsidiaries of Teo Seng ; and
b) Mr. Ng Eng Leng (NRIC No. 710202-01-5419), Director of Great Egg, TSF and other various subsidiaries of Teo Seng (“the Interested Director”).
Please refer to the attachment for further detail.
TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description
TEO SENG CAPITAL BERHAD ("Teo Seng" or "the Company") Sale and Purchase Agreement ("SPA") between Mr. Lim Meng Bin and Mr. Ng Eng Leng and Great Egg Industries Sdn. Bhd.(Formerly known as Forever Best Supply Sdn Bhd ("Great Egg"), a wholly owned subsidiary of Teo Seng Farming Sdn Bhd ("TSF") , which in turn is a wholly owned subsidiary of Teo Seng Capital Berhad ("Teo Seng"or "the Company") for the Acquisition of land ("Proposed Acquisition of Industrial Land").
Further to the announcement dated 5 August 2016 , the Board of Directors of Teo Seng wishes to announce that the salient terms in the Sale and Purchase Agreement dated 5 August 2016 between Mr. Lim Meng Bin and Mr. Ng Eng Leng and Great Egg for acquisition a piece of vacant freehold industrial land held under HS(D) 62610 PTD 29422, Mukim Tanjung Sembrong, Daerah Batu Pahat , Negeri Johor measuring in area approximately 65,749.46 square feet (0.6108 hectares) (“the Land”) at the purchase price of RM1,643,736-50 (Ringgit Malaysia One Million Six Hundred Forty-Three Thousand Seven Hundred Thirty-Six and Sen Fifty only ) (“Proposed Acquisition of Industrial Land”) have been fulfilled and the Proposed Acquisition of Industrial Land has been completed.