Stevia Corp. (OTC:STEV) Knocking on the Door
Stevia Corp. (OTC:STEV) continues to build its army of amazingly-qualified personnel, most of whom are being deployed in Eastern Asia… on the battle front. The newest recruit was added today, and he’s a virtual ‘Green Beret’ within the world of farming.
OK, it was a bit of a melodramatic analogy, but not an inaccurate one. Per this morning’s news, STEV has hired Thomas Ong to run its Asian operation.
Mr. Ong comes from Growers Synergy Pte Ltd, where he was a Director. If the name rings a bell, it’s because that’s the company Stevia Corporation hired to manage its farms in Vietnam just a few days ago. Makes sense. If the guy’s company was the one STEV needed to run things in Asia, then it stands to reason one of the guys running that show is well-suited to be put into a more direct role. So, he was.
It’s not just Mr. Ong’s relationship with Growers Synergy that makes this such a nice move though. His CV includes being a director of a private equity/fund company in Singapore, and a ton of M&A and financing experience. He’s also been heavily involved as a government official of environmental-oriented offices in Singapore, and to this day acts as a consultant in both arenas.
There’s an X-factor with Thomas Ong that’s not being laid out by Stevia Corp. and this news release though… a good one. Reading between the lines, it’s pretty clear Ong is an ‘insider’ within all the right political, farming, and financial circles in the region. By hiring him, STEV also brings on a ton of clout – which is how business really gets done everywhere but especially in Asia where the company is trying to bring the bulks of its stevia farms into the fold.
All that being said, it’s become clear in the past two weeks that STEV shares are picking up steam as the company becomes more ‘real’ to the market. Volume is swelling, and the stock’s on the verge of punching through resistance around $1.03. Ideally it would pause a bit here – under $1.03 – after a two-week runup just to build up some steam. But, it’s not absolutely necessary at this point. The key will be any move above $1.03, as it’s very likely to be followed-up by what’s become a regular stream of company-building news… the kind of stuff the market loves.
