Net asset per share as at 30 June 16 (before rights issue) was RM 2.85.
It became RM 2.23 after rights issue.
Tien Wah will recognise the RM 37..25 gain (63.75 - 26.5) from the sale of factory land in Petaling Jaya. The gain amounts to RM 0.25 per share.
Revised Ndet asset per share is therefore RM 2.48.

Any idea what will be built on the land at Jalan Semangat?

Anzpac factory sits on a 3.3 hectare land. Will it be redeveloped?

Can those who attended AGM enlighten?

The following tables tell the whole story.

1,000 Tien Wah shares bought in 2009 for RM 1.50 have become 2,100 shares after two rights issues:

2010 2 for 5 at RM 1.15 cost RM 0.46
2016 1 for 2 at RM 1.00 cost RM 0.70

Total cost for 2,100 Tien Wah shares RM 2.66
Value of shares now RM 3.99.

Dividend rate (sen)
2009 15.04
2010 11.10
2011 12.75
2012 12.78
2013 12.78
2014 7.00
2015 18.00
2016 4.00
(interim)

Total dividends received since 2009 is RM 1.28.

Cigarette cartons are essential to BAT. Has BAT been unfair to Tien Wah before/
After purchasing Anzpac in 2008, Tien Wah profit has gone up and we have receiving good dividend.
Tien Wah's two printing factories in Vietnam offer cost advantage.
Tien Wah has also provided good services to BAT, implementing short run printing and lowering defect rates.
It will be useful to read up annual reports of recent years.