King Gen Public Company Limited (mai: KGEN) has informed the Stock Exchange of Thailand (SET) that the Board of Directors Meeting No. 8/2025, held on November 14, 2025, passed a resolution approving the disposal of the Company’s ordinary shares in Waruka888 Co., Ltd. (WRK).
The approval was granted subject to specific conditions, whereby the Board authorized the management team to conduct further negotiations with the buyer prior to finalizing the sale. The management team has since successfully concluded these negotiations in accordance with the mandates and conditions set forth by the board. Consequently, the company has entered into the transaction to sell the said shares.
WRK specializes in transportation and cargo handling services, particularly for plastic pellets and chemicals. Due to the global economic slowdown and the subsequent decline in import and export volumes, WRK’s operations have faced continuous losses. In 2023 and 2024, the company reported losses of THB 5.43 million and THB 58.35 million, respectively.
WRK has a registered capital of THB 20,000,000, divided into 200,000 shares with a par value of 100 baht per share. The company has completed the sale of its entire investment in WRK, consisting of 98,000 shares (49% of total shares), to Mr. Paitoon Waruka (a non-related party) for a total consideration of THB 1,000,000.
Following this divestment, WRK ceases to be a subsidiary of the company. The transaction is not expected to have an adverse impact on the company’s operations or financial position, as it involves the disposal of a lossmaking business unit.
The company has successfully completed the divestment of its investment in the subsidiary. Consequently, Ms. Porntip Trongkingtorn, Mr. Apichart Piancharoen, and Mr. Boonrat Winyukanon, directors of the Company and authorized signatories of Waruka888 Co., Ltd., have resigned from their positions as directors of WRK, effective December 29, 2025.
