King Wan share price is only 29.5 cents. This looks like the key support as the dividend yield is about 10% at this level. Very sweet.
However, upside gain for the share price will will depend mostly on the KTIS share price. Now 8.9baht which is below IPO 10 baht. The political situation in Thailand is not promising and creates downside risk for KTIS share price, unfortunately. Will buy more King Wan if the sshare price goes to 28 cents.
King Wan Corporation Limited announced that it has taken a 19% stake in a consortium that won a tender for the Tuas Dormitory. This is a 9,200 bed workers’ dormitory that sits on 37,170.5 sqm of land in Tuas South Street, Singapore. The lease term is 20 years. The dormitory will cater mainly to foreign workers in the marine, process and manufacturing industries. It will have facilities such as games rooms, TV rooms, multi-purpose halls, gymnasiums, reading rooms, fitness corner, basketball courts, cricket fields, sickbays, minimart, canteen, barber shop and beer garden. The dormitory is expected to start operations in 2016.