KING WAN CORP -- loads of cash

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10 years 7 months ago #16388 by lotustpsll
With the debt ceiling issue in US and the political uncertainty in Italy, market may trade cautiously for a while. Buying between 0.29 to 0.295 should be good entry point. As for me I am prepared to add at 0.30 given the potential upside.

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10 years 7 months ago #16389 by whyme?
lotustpsll

thanks ! Will keep an eye on this one ...good luck !

lotustpsll wrote: With the debt ceiling issue in US and the political uncertainty in Italy, market may trade cautiously for a while. Buying between 0.29 to 0.295 should be good entry point. As for me I am prepared to add at 0.30 given the potential upside.

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10 years 7 months ago - 10 years 7 months ago #16405 by yeng
Replied by yeng on topic KING WAN CORP -- loads of cash
If only we had seen it much earlier!

Managing director Chua Eng Eng raises direct stake in King Wan Corp

www.theedgesingapore.com/component/content/article/33662.html

Last edit: 10 years 7 months ago by yeng.

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10 years 7 months ago #16407 by lotustpsll
Impressive administrator and with good foresight. I will be waiting with keen anticipation over the KTIS listing.

Research houses are warming up to King Wan

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10 years 7 months ago #16435 by zane
Replied by zane on topic KING WAN CORP -- loads of cash
Re the bulk carrier that KING WAN invested in.

King Wan paid $3 m for a 30% stake in a consortium that bought the vessel.

If you follow OSK report, it is estimated that King Wan would receive about $2.35 m in dividends from the charter cashflow (after expenses) over the next 5 yeaars.

After factoring in capital gain, the vessel is projected to return King Wan $7.4m from its sale after 5 years.

Total proceeds = $9.75m on a $3m investment.

It's a solid return but it's for the long term. I expect it will result in a special dividend.

Note that the ship could be sold before 5 years. Just sell ship + charter to willing buyer if the price is good.
The following user(s) said Thank You: lotustpsll

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10 years 7 months ago #16436 by lotustpsll
Thanks for following up on this.

The timing for investing in the bulk carrier was astute and based on the back of envelope calculation, this investment looks really good. Expenses should be limited as I guess it is the chartering party that has to maintain the carrier.

Management does have a keen eye to scout for opportunities and this is a clear example of value creation for its shareholders.

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