KING WAN CORP -- loads of cash

When many other stocks have slipped into the red, King Wan is holding on at the 28.5 cent level. This is outperformance! Seldom appreciated but it is indeed proving to be a good holding.

Good news to soothe the nerves from waiting too long for KTIS to IPO in BKK.


SINGAPORE, 11 February 2014: MAINBOARD-LISTED King Wan Corporation Limited
(King Wan or the Group) (庆源企业), today announced it has secured six new mechanical
and electrical (M&E) projects in Singapore during the period from November 2013 to
February 2014, worth a total of S$41.8 million.

Diary Farm project doesn't seem to be doing well with only 14 or 18% sold as reported by Straits Times.

Looks it was the news several months ago, hope they sold more.

erelation wrote: Diary Farm project doesn't seem to be doing well with only 14 or 18% sold as reported by Straits Times.

extracted another forum:

"I has the similar enquiry and I emailed the IR couple of days back. Heres the reply I got, should pretty much answer most of our questions.

Dear XXX

Thanks for your email. We are the Investor Relations consultants and represent King Wan Corporation.

The listing approval granted by the Office of Securities and Exchange Commission (“SEC”) in Thailand to KTIS is valid for a (6+6)-month period from 16 August 2013.

In other word, KTIS has up to six months (with the option to extend it for a further six months) to list/(Sell) its shares to the public.

In light of the current political situation in Thailand, KTIS is closely monitoring the development closely for more conducive market conditions to list.

King Wan will make further announcements when there are any new developments.

Please contact me if you have further queries.

Kind Regards

Wayne Koo
Managing Director
Waterbrooks Consultants Pte Ltd"

KTIS to build more plants with IPO cash

Kaset Thai International Sugar Corporation (KTIS), Thailand's third-largest sugar producer, plans to float 957.83 million initial public offering (IPO) shares from April 21-23 to raise funds for expansion

Of the IPO shares, representing 24.64% of the company's paid-up capital, 585.43 million will be newly issued shares, while the remaining 327.4 million will be existing shares held by its shareholders. The IPO price has not been finalised yet.
Proceeds will be used to construct a biofertiliser plant worth 50 million baht and two biomass plants each costing 960 million, while another 980 million will be used to raise capacity for liquid sucrose and super refined sugar.

KTIS has appointed Kasikorn Securities as its financial adviser for the IPO, with KT Zmico Securities and Maybank Kim Eng Securities as lead underwriters.

Its debut on the Stock Exchange of Thailand has been slated for April 28. KTIS plans to earmark a portion of its IPO shares to sugar cane growers at the same price as shares to be subscribed by general investors, said chief executive Praphan Siriviriyakul.

After completing its investment plan, the company will have nine factories & three for sugar cane, three for biomass and one each for biofertiliser, ethanol and pulp and paper.

Sugar generates 70-80% of its revenue and net profit, but biomass and ethanol will overtake sugar in the future because renewable energy contributes a steady flow of revenue and profit, while sugar is a commodity with a fluctuating price.
Mr Praphan said global sugar demand is expected to increase this year as Brazil, the world's top exporter, is facing a drought, presenting an opportunity for Thailand's sugar producers to boost exports.

"The global sugar price has increased 18 cents from early in the year, so it is a good trend for the industry this year," he said.

KTIS has sugar production capacity of about 88,000 tonnes per year, and it aims to increase its refined sugar capacity and export volume through foreign partners, especially Sumitomo, which holds a 7.5% stake in the company. KTIS reported revenue of 18.05 billion baht last year.