Dukang Distillers

Dukang Distillers: Grp clarified that it has no plans to delist from SG and Taiwan and list on the Shanghai Stock Exchange (SSE). An article published on Monday in Taiwan's Commercial Times and another in the China Times last week quoted an "internal source" as saying the co might list on the SSE and delist from Singapore and Taiwan due to low mkt liquidity and fund-raising constraints. Grp note that while Dukang had seen a decline in mthly trading volumes for its Taiwan TDRs this year, there was a resurgence of interest for its shares on SGX this year. Year-to-date average daily trading volumes are 2.7m shares, up from over 400,000 shares a day last year and 1.1m in 2010. Add that the co was not concerned about getting financing as it was growing fast, could finance its own capital expenditures, and could get loans from banks if needed. There is also no need to raise funds from shareholders via placements.