Let u know a secret :) There a couple of traders out there waiting to cover their shorts on monday :P I want to see them Cry as they short in the friday morning and didnt have the chance to cover back.

I want them to cover high.

Barring  unforseen  circumstances,  without any NEW bad news,  BAKER TECH will BREAK OUT.

May be  even  for  YANGZIJIANG, as recommended by analyst  with a TP S$2.07  for  YANGZIJIANG.

CHECK OUT at  CHANNEL  NEWS  ASIA  FORUM  for  more information.

Please be  CASUAL,  no need to be formal.

WOW       WOW        WOW 

Baker Tech ACCEPTS Offer

SINGAPORE

In a filing on Friday, Baker said that it has received a binding letter of offer from Yangzijiang to buy the entire and paid up share capital of PPLH for US$155 million ($208 million).

Payment for the acquisition will be made in cash after the completion of the sale and purchase of the Sale Shares, the announcement said.

One condition of the agreement is an escrow agreement that requires the purchaser to deposit the Total Sum with an escrow agent.

*EXTREMELY SMART GOVERNANCE*

The sale of the shares is still subject to the approval of shareholders at an extraordinary general meeting to be convened.— Mainboardlisted Baker Technology said it has accepted Yangzijiang Shipbuilding’s offer to purchase Singapore- based PPL Holdings.

Millet Enriquez

THANK YOU VERY MUCH for KIND SHARING

GOOD  KARMA

tradersgx      ( Date: 24-Apr-2010 04:36) Posted: tradersgx      ( Date: 24-Apr-2010 03:08) Posted: Rationale: YZJ To Enter The Robust Offshore Sector (^.^  ) The Board of Yangzijiang is of the view that this strategic acquisition would be in the best interest of the Group as Yangzijiang’s post-Acquisition involvement in PPL Shipyard's business for the design and construction of offshore drilling rigs would add to, and further strengthen Yangzijiang's capabilities in this area and further the Group's development and competency strategies. ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ 19 April 2010 CIMB Yangzijiang Shipbuilding; Move into Offshore OUTPERFORM;  Target: S$2.07

Without prejudice, I see no reason why BT should turn down the offer by YZJ. The offer is just too good. YZJ is probably one of the top 3 wealthiest (if not the wealthiest) shipbuilders in the region and they could splash a lot of vitamin M in to expand PPL. I remember the times when the economic is doing badly, profits of YZJ is still pouring in like waterfall. I dont think it’s wise for SCM to counter offer as the amount offered by YZJ is out of this world. Unless, TH(temasek) want to step in to help a bit. But this will affect their other investments and they will have to answer to the shareholders. Even if SCM do counter offer, don’t forget YZJ is capable of counter offering back with another better offer.

Looking at Part A section 8 - Interests of Directors and Controlling Shareholders, of the announcement release by BT, the only director that has got shares of YZJ is Tan Yan Guan who is holding 50,000 shares. 50 000 shares at current market price is not worth a lot. Furthermore, none of the Directors or controlling shareholders of the Company has any interest, direct or indirect, in the Proposed Disposal. Hence, I don’t think the acceptance of offer by BT is of personal interest/profits/gains within the directors board. Otherwise, every director will be holding on to tons of shares now. The acceptance is of best interest of the shareholders of BT.

It just doesn’t make sense for SCM to disagree with the deal, after all, if YZJ help PPL to expand and increase profits, SCM will benefits as well. The disagreement is perhaps personal? Not wanting competition from others? Remember the time when there’s only 1 telco in Singapore?

Just my personal view, I may be wrong. Lol~ let’s wait and see!

looks like oil is up! Time to stock oil? ChinaOilField? any advice?

Rationale: YZJ To Enter The Robust Offshore Sector (^.^  )

The Board of Yangzijiang is of the view that this strategic acquisition would be in the best interest
of the Group as Yangzijiang’s post-Acquisition involvement in PPL Shipyard's business for the
design and construction of offshore drilling rigs would add to, and further strengthen Yangzijiang's
capabilities in this area and further the Group's development and competency strategies.

++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

19 April 2010 CIMB

Yangzijiang Shipbuilding; Move into Offshore

OUTPERFORM;  Target: S$2.07

was worried about the counter offer from SCM :) Guess Its already done and close :P

I think YZJ is taking the similar path like Cosco but nobody can predict the future now.

The risk for downside is low as Semb has major stake in PPL. So this should be a portion of the good NEWS.