UPDATE 1-Ju Teng says no plan to issue new shares

(Adds executive quotes and details)

By Alison Leung

HONG KONG, June 16 (Reuters) - Computer casing maker Ju Teng International Holdings Ltd (3336.HK) (9136.TW) has no plan to issue new shares, but could repackage some of its existing Hong Kong-listed shares into TDRs to meet strong demand for its stock in Taiwan, a senior executive said on Tuesday.

The company, the world's largest maker of plastic casings for notebook computers, had more than HK$800 million ($103 million) in cash on hand and that would be sufficient for its development, Finance Director Tsui Yung Kwok told Reuters in a telephone interview.

"We have no plan to issue new shares after the recent TDR issue," he said.

Ju Teng raised HK$400 million from its 100 million Taiwan Depository Receipts (TDR) offer last month.

Its Taiwanese-listed stock has been traded at a heavy premium to its Hong Kong shares, which fell as much as 11.6 percent on Tuesday morning on speculation the company may issue more TDRs.

The shares recovered slightly to HK$4.04, down 8.4 percent, at the midsession close, a 38 percent discount to the company's Taiwan stock, which fell 5.7 percent to T$23.85.

"If shareholders are interested in buying (our shares) in Taiwan, we are happy to help them," Tsui said.

The company was considering a second TDR issue by repackaging some of its existing Hong Kong shares, but was still studying the proper way to conduct the transaction, he added.

Ju Teng shares are trading at 6.5 times projected 2009 earnings in Hong Kong, cheaper than its Taiwan-listed counterparts, which are at more than 10 times P/E.

"The company has been growing fast at the top line and bottom line, and it gets better recognition in Taiwan as many of our customers are there," Tsui said.

Many Taiwan companies, like Ju Teng, with a large portion of their assets based in China have chosen to list in Hong Kong or Singapore in the past due to previous restrictions that kept them from listing in Taiwan.

But more of these companies are expected to return to their home market by issuing TDRs after the Taiwanese government eased or scrapped many restrictions to help boost the island's economy. ($1=HK$7.750) (Reporting by Alison Leung; Editing by Chris Lewis)