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2981-3000 of 3003
married deal at $3.54. buyers bidding higher for shares.
Can anyone explain this : Queue to sell at $3.52, price keeps dropping to $3.45 (100 over lots sold 2 or 3 mins before 5 pm) then 760 executed at $3.54 at 5.05 pm. Mine was sold st $3.54 although I queue to sell at $3.52 at 4.11 pm.
maybe they paid for the lawyers defending him now for the transaction has been authorized.
maybe he was paid handsomely to take the blame
poor Wee taking the scape goat.
Anyway, its good that mgmt have decided to make the necessary provisions. Now, investors can make their investment decisions with more clarity
Announcement by SembMar. Settled with 9 out of 11 banks and will make provision of USD 258.7m.
Why will they want to settle if they thought they got a strong case? Perhaps afraid of more ppl in the company may get implicated......adding to they embarrassment?
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_EBA4CC861B48DE0B482573EF0032F3F7/$file/SCMPressRelease14Feb2008.pdf?openelement
It might be just a minor hiccup I guess. They're bound to review their company policy. No single entity in any company, in any department, should be able to wield such power and squirrel so much money away. Why weren't there anyone to second his actions or any checks in place to prevent it from happening? It's evident they were lax in certain aspects in the management of the company.
how do you know its fundamentally unsound?
The Acc/Dist chart together with Chaikin Oscillator chart shows the starting signs of positive divergence while Bollinger bands seems to indicate the current falling trend is ending. William%R has bottomed out and trending upwards too. Guess things are starting to look good for SembMar finally, as fundamentally unsound the company may be. Any advice from the experts?
The volume had been stable for the pass few days. Looks like had bottom and accumulation started...
The worst of SembMarine may be over. Strong buying interest by institutional investors.
BT 12 Feb 08
Obviously there is more than meets the eye.......the 'fall guy' is fighting back....major cover up????
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February 12, 2008, 4.04 pm (Singapore time) 
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SembMarine CFO says forex trades authorised
BNP, France's biggest bank, has threatened to file a winding-up petition against SembMarine unit Jurong Shipyard in a bid to recover US$50.7 million lost when the currency trades made by former CFO Wee Sing Guan went bad.
SembMarine rejects the claim on grounds that the trades were unauthorised, and is seeking a court injunction to stop the French lender from carrying out its threat in a case to be heard in Singapore on March 4-6.
Wee's lawyers said Jurong Shipyard was aware of the trades.
'Our client's acts and forex transactions were at all material times authorised and mandated by the JSPL (Jurong Shipyard) board,' Wee's lawyers wrote in a letter dated Jan 21. The letter, seen by Reuters, was among affidavits filed by BNP and Jurong Shipyard to the Singapore court.
Jurong Shipyard's lawyers reiterated SembMarine's version of how the losses were made.
A SembMarine spokesman declined comment, while lawyers for Wee and BNP officials could not immediately be reached for comment.
SembMarine shocked financial markets last year when it alleged Wee had lost over US$300 million by engaging in 'unauthorised' foreign exchange transactions. It claimed it was not liable for the losses as the trades were unauthorised.
SembMarine, a unit of SembCorp Industries, has already paid US$115.5 million to Societe Generale after SocGen agreed to refund the amount if the Singapore company could prove it was not liable for the losses. -- REUTERS
SINGAPORE - Foreign exchange trades that lost Singapore's SembCorp Marine more than US$300 million were made with the proper authority, the company official who made the bets said ahead of a court battle between SembMarine and BNP Paribas over part of the losses.
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Better to stayaway from it first......
Untill we can see a clear reversal indications.
Cheers....!!
the illegal forex transaction "over-corrected" this stock..
any other bad news apart from this? why the guy still can free out of the prison? should just put him in jail...
If DJ dont do well tonight ,think will drop further tmrw
wow...below $3
During the US currency fiasco, i thought can start accumulate at ~ 4 but looking at the current down turn affecting also the oil & gas sector outlook, this counter will remain bearish for times to come.
TA charts show bearish signs. Acc/Dist and Chaikin are heading south
becoz of it's huge exchange loss.....it will report again the next reporting date
