Shares & Derivatives
The Rise and Fall of King Wan Corporation
By InvestingNook  •  June 8, 2016
Like the rising and ebbing of tides, companies’ fortune changes. King Wan Corporation is a perfect example of the vicissitude. Having previously been a shareholder of theirs, I am already conveniently familiar with their history.

King Wan of the Past

I first invested into King Wan in late 2012 at a share price of $0.195. Their 2011 balance sheet looked something like this. At a market cap of SGD68.1mn, it had net cash holdings of SGD18.1mn. In addition, they had stable and growing profits which were backed by a strong order book in their core mechanical engineering operations. Based on these factors alone, King Wan would be considered cheap; but what made King Wan stand out was their announced disposal of their Thai sugar associates. These were recorded at SGD45.3mn on the balance sheet. The deal was a gain of SGD22.5mn (about 30% of market ......
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By InvestingNook
As Co-Founder and Fund Manager of Heritage Global Capital Fund, we started InvestingNook as a website dedicated to sharing the knowledge of value investing – allowing our readers achieve an edge over the markets with the knowledge of value investing.
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