Mr. Yen Wen Hwa
Chairman

2007 was a better year for New Toyo ("the Group"), the results reflect the positive impact from the Group's rationalisation strategies which were initiated at the end of 2006 and continued during 2007. The improvements in business and a much healthier financial position at year end have enabled the Board to declare a final dividend of 1.10 cents per share, giving a total dividend for the year of 1.83 cents per share.

Financial Performance
The Group achieved a revenue for the year of $221.6m, an increase of 24% over the previous year, and a net profit of $13.1m compared to $6.6m in 2006.

The improvement in profits came primarily from the consolidation of Tien Wah Press Holdings Berhad ("TWP"), a subsidiary for the full year of 2007, and the divestments of several non-strategic businesses.

Earnings per share was 4.75 cents while net asset value per ordinary share was 38.90 cents at year end.

Dividends
The Board recommends a final tax exempt dividend of 1.10 cents per share. In addition to the interim tax exempt dividend of 0.73 cents per share, this gives a total tax exempt dividend for the year of 1.83 cents per share.This represents approximately 38 percent of our profit after tax, and reflects our ongoing commitment to reward the shareholders by way of dividends.

Corporate Direction
Despite a weakening US Economy and the slowdown in European markets, the Asian economies are expected to continue to achieve healthy growth, resulting in greater demand for packaging products. There will be further opportunities for the Group in tobacco packaging as the large industry players relocate their supply locations to the Asian region for cost competitiveness.

The Group will continue to rationalise its non-strategic businesses in order to allocate more time and resources to the core businesses and better customer service and relationship. At the same time, the Group will look at expansion both within the current core businesses and other business opportunities, as part of overall strategy for growth.

I congratulate Mr. Gary Yen on his appointment to Chief Executive Officer ("CEO"). He will lead the executive team in refining the strategic plans, and in executing those plans to achieve greater success for the Group. I will remain Chairman of the board. My focus will shift away from daily operations towards advisory to the management team. With this handover, I believe the organisation is better positioned to achieve its longer term goals and objectives.

Acknowledgement
Our results were positive in 2007. Yet, the Company has gone through some difficult moments in the past and we would not be where we are today without the support and trust of our customers, business associates and shareholders.

Equally important, I would not have been able to effectively execute my responsibilities as Executive Chairman over the past ten years without the guidance from my fellow directors and dedication of the staff.

As I hand over my executive, day to day responsibility to our new CEO, I wish to express my sincere appreciation to all.