Asset Acquisitions and Disposals::TIEN WAH PRESS HOLDINGS BERHAD - PROPOSED ACQUISITION OF 100% INTEREST IN BENLINE INVESTMENT

NEW TOYO INTERNATIONAL HOLDINGS LTD

Company Registration No.: 199601387D

TIEN WAH PRESS HOLDINGS BERHAD - PROPOSED ACQUISITION OF 100% EQUITY INTEREST IN BENLINE INVESTMENT HOLDINGS PTE. LTD. ("Proposed Acquisition")

The Board of Directors of New Toyo International Holdings Ltd (the "Company") wishes to announce that its subsidiary listed on Bursa Malaysia, Tien Wah Press Holdings Berhad ("TWPH"), has today issued an announcement on the above matter, a copy of which is enclosed.

Chapter 10 of the Listing Manual

Chapter 10 of the Listing Manual of the Singapore Exchange Securities Trading Limited ("SGX-ST") is applicable to an acquisition or a disposal of assets by an issuer or a subsidiary that is not listed on the SGX-ST or an approved exchange. As the Proposed Acquisition is undertaken by the Company's subsidiary listed on Bursa Malaysia (i.e. TWPH), the Proposed Acquisition does not fall within the ambit of Chapter 10.

Financial Effects

The pro forma financial effects of the Proposed Acquisition set out below, which have been prepared based on the audited consolidated financial statements of the Group for the financial year ended 31 December 2020 ("FY2020"), are purely for illustrative purposes only and do not reflect the financial performance or position of the Company or the Group on completion of the Proposed Acquisition.

The pro forma effect of the Proposed Acquisition on the net tangible assets ("NTA") per share of the Group for FY2020, assuming the Proposed Acquisition was effected on 31 December 2020, is as follows:

	Before the Proposed	After the Proposed
As at 31 December 2020	Acquisition	Acquisition
NTA (S$'000)	123,521	123,521
NTA per share (cents)	28.11	28.11

The pro forma effect of the Proposed Acquisition on the earnings per share ("EPS") of the Group for FY2020, assuming the Proposed Acquisition was effected on 1 January 2020, is as follows:

	Before the Proposed	After the Proposed
FY2020	Acquisition	Acquisition
Profit after tax attributable to equity
holders of the Group (S$'000)	7,591	7,561
EPS (cents)	1.73	1.72

Note:

For the purpose of computing the NTA and EPS, the profit of Benline Investment Holdings Pte. Ltd. ("Benline") is based on the unaudited consolidated financial statements of Benline for the ten (10) months ended 31 October 2021 and prorated accordingly.

Interests of Directors and Controlling Shareholders

None of the directors or controlling shareholders of the Company have any interest, direct or indirect (other than through their shareholdings in the Company), in the Proposed Acquisition.

By Order of the Board

Lee Wei Hsiung

Company Secretary

17 December 2021