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It's time to rebound ????
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grandmaster89
Veteran |
16-May-2010 21:42
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I don't think that will happen. BT didn't offer to sell to YZJ. Instead, YZJ was the one who initiated the offer to BT.
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yipyip
Master |
16-May-2010 19:19
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If SCM won the case, next is YZJ will take legal action on BT for offered this "illegal deal". omg
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wishbone
Master |
16-May-2010 16:39
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In the worst case, BT can be sued by SCM if the latter said that the former has disclosed confidential information of PPL to YZJ is true. Then BT can be worse off than before YZJ come into the picture. UGLY UGLY UGLY.
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CheongCK
Senior |
16-May-2010 16:08
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Saturday, May 15, 2010SembCorp Marine: Starts Court Proceedings Against PPL Holdings SINGAPORE -(Dow Jones)- SembCorp Marine Ltd. (S51.SG) on Saturday said it's seeking a Singapore court ruling that would render its current joint venture agreement with PPL Holdings Pte. Ltd. "no longer in force." The rig builder also wants to ruling to require PPL Holdings to sell its minority stake in the venture.
PPL Holdings last month rejected SembCorp Marine's offer to buy the 15% equity stake the rig builder it doesn't own in the joint venture, PPL Shipyard Pte. Ltd. Sembcorp Marine, which owns 85% of PPL Shipyard, had offered S$59.4 million to buy the remaining stake to fend off an earlier bid by China's Yangzijiang Shipbuilding Holdings Ltd. (BS6.SG). Yangzijiang had made a joint offer with two other entities to purchase PPL Holdings, a wholly owned subsidiary of Baker Technology Ltd. (568.SG), for a total US$155 million. SembCorp Marine is 61.6% owned by SembCorp Industries Ltd. (U96.SG), which is in turn 49.7%-owned by Singapore state-owned investment body Temasek Holdings. SembCorp Marine said in a statement released Saturday on the Singapore Exchange that it has commenced proceedings in the High Court of Singapore against PPL Holdings and its wholly owned subsidiary, E-Interface Holdings Ltd. It said it has asked the High Court to rule the joint venture agreement between the Sembcorp Marine and PPL Holdings signed April 9, 2001, "no longer in force and to direct PPL Holdings and E-Interface to transfer the remaining 15% of the shares in PPL Shipyard Pte Ltd" to Sembcorp Marine for S$59.4 million. It has also asked the court to order PPL Holdings and E-Interface to "pay damages for disclosing or causing to disclose confidential information of PPL Shipyard Pte Ltd to Yangzijiang Shipbuilding (Holdings) Ltd in breach of the (joint venture agreement)." |
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wishbone
Master |
16-May-2010 13:29
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SCM is a big and reputed company and should know what they are doing. I think the deal btw BT & YZJ, "tong ko shui" = colder than water. Sian man!! |
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grandmaster89
Veteran |
16-May-2010 11:58
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I believe that if SCM can prove that BT revealed the JV details to YZJ, BT will lose and have to accept the S$55 million deal. | ||||
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iPunter
Supreme |
16-May-2010 11:12
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But unfortunately, few appreciate or lap up these gems like you do... Even when they're dished out free-of-charge here... hehehe...
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mic1838
Member |
16-May-2010 09:06
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Ask the High Court to rule means the high court will rule??? Singapore is an international financial hub....... The judge making the ruling should consider carefully the implications first......
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tradersgx
Veteran |
16-May-2010 00:44
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BakerTech is going to be "..............." on Monday. . . . . . . . . Written by The Edge - 15 May 2010 22:36 Sembcorp Marine starts proceedings against PPL Holdings Sembcorp Marine says the company has today commenced proceedings in the High Court of Singapore against PPL Holdings Pte Ltd (PPLH) and its wholly-owned subsidiary E-Interface Holdings Limited (E-Interface). SembMarine says it has asked the High Court to rule that: 1. the Joint Venture Agreement between the company and PPLH dated 9 April 2001 is no longer in force, 2. to direct PPL Holdings and E-Interface to transfer the remaining 15% of the shares in PPL Shipyard to the Company against payment of the sum of $59,433,522 3. and to order them to pay damages for disclosing or causing to disclose confidential information of PPL Shipyard to Yangzijiang Shipbuilding (Holdings) in breach of the JV agreement. |
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wishbone
Master |
14-May-2010 11:14
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Doesn't seem to look rosy.  |
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Joe2020
Veteran |
14-May-2010 10:50
Yells: "I am the Oracle sent forth unto you that ye shall be warned" |
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Watch Out | ||||
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178investors
Veteran |
13-May-2010 22:23
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think the counter will not move much until a clear outcome is out. the alternative to waiting is to short the euro and pound... fatter profits... with plenty of currency hunters for company. of course, also got risk if central banks act to support the two currencies. |
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wishbone
Master |
13-May-2010 20:36
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Wonder whether this counter will be continuously dragged down by SCM? More to come and may end up worse than where it first started from. 
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178investors
Veteran |
13-May-2010 18:08
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think if u compile all of them into a book and sell someday, can make some money.
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rickyw
Master |
13-May-2010 13:38
Yells: "keep happy..." |
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what happened?
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Joe2020
Veteran |
13-May-2010 13:28
Yells: "I am the Oracle sent forth unto you that ye shall be warned" |
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Alert!!! Be Prepared!!!! Be Prepared..... |
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Ytrade
Member |
13-May-2010 00:00
Yells: "Regrets come with poor management of oneself" |
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I agree 101%... Clue... Tag team Baker and YZJ on the spot light... can't say more... DYODD..
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buysell
Member |
12-May-2010 16:09
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Faith or no faith doen't matter, what matters is who make money out of this counter than lose or miss their chance to punt on it because they beg to differ. | ||||
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iPunter
Supreme |
12-May-2010 11:01
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Sorry to damage your faith... You are free to have as much faith as you like...  |
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rickyw
Master |
12-May-2010 11:01
Yells: "keep happy..." |
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better dun play...on this counter...give up...trend is down
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