Baker Technology    Last:0.57    +0.005

Acquisition

 

still a potential stock to get in.......although company deny bout the RTO.

 

Hmm ... SGX has questioned the sudden surge of volume & price.

Extracts from SGX:

27 March 2007

Mr Tan Kiang Kherng
Financial Controller
Baker Technology Limited
No. 6 Pioneer Sector 1
Singapore 628418

Dear Sir

QUERY REGARDING TRADING ACTIVITY

We have noted, and draw to your attention, a substantial increase in the trading volume and price of your shares today. To ensure a fair and orderly market, please answer each of the following:

Question 1: Are you aware of any information not previously announced concerning you (the issuer), your subsidiaries or associated companies which, if known, might explain the trading?
- If yes, the information must be announced immediately.

Question 2: Are you aware of any other possible explanation for the trading?

Question 3: Can you confirm your compliance with the listing rules and, in particular, listing rule 703?

Please respond immediately via SGXNET. Where appropriate, you may want to request a trading halt or a suspension of trading. Please contact Market Control (or, if you need to discuss the matter, your Account Manager in Issuer Regulation) immediately. Thank you for your cooperation.

We have released this letter via SGXNET.

Yours faithfully




Elsie Chua
Vice President
Head, Market Surveillance
Risk Management & Regulation

 

Rising on takeover rumours.



I knew it had great potential when I mentioned that it entered into the oil & gas sector through the acquisition of PPL.

 

Nice closure today  @ 13c.
Last minute buy up like last wk...15c is not too far away.
Some1 is accumulating nice n slowly....
Catch it before it cross the 15c border...yippeee  cheong ahh~~

 

Too Bad, I just sold mine off at $0.75 about a week back.

 

hit .12c liao....if can close at this price n with sembcorp in the pic....next wk might c .15c after flushin out last wk contra player....good for long term.
Huat ahh

 

Seams like continue to go up

 

what is the next resistance lv?

 

catch it before its cross 10c. resistance lv

 

Agree with Sohguanh ...

Especially in a 'kiasu' market, it's better to take it when there's a substantial profit than to 'let profits run'.

It will surely run away too easily before it goes up further, maybe in many weeks' time.

 

For stocks trading < 10 cents there is always this wind that slowly go along and push up the prices one by one. Oakwell and now Baker Tech? Previously there were Sapphire and Armada.

So for such behavoir it is always like iPunter says get in before or early in the surge. Of cuz sometimes for YongNam and BBR cases the momentum carries them to beyond 10 cents and upwards.

 

Thanks IPunter, Baker went to more than 10 cts last year before falling again,  so is there room to for more movement upwards? its 0.065 now. 

 

The natural inclination is to jump in following a big price surge.

But the proper thing to do is to be in before or early in the surge.

 

its up100% today, too late to buy?

 

At last, it starts to move.

 

It soared as much as 85.7% to $0.065 after it acquired PPL Holdings, which owns 15% of PPL Shipyard, a unit of Sembcorp Marine.



Baker Technology, a truck and trailer axles maker, said in a statement it would pay $3.6 million to acquire PPL's entire capital of 20 million shares from its shareholders.



Dealers said the deal would provide a strong growth opportunity for the firm as it taps into the booming oil and gas sector through one of the world's busiest shipyard.