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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.
yipyip ( Date: 16-May-2010 19:19) Posted:
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If SCM won the case, next is YZJ will take legal action on BT for offered this "illegal deal". omg
wishbone ( Date: 16-May-2010 16:39) Posted:
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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.
grandmaster89 ( Date: 16-May-2010 11:58) Posted:
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Saturday, May 15, 2010
SembCorp 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 "no longer in force."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the High Court to rule the joint venture agreement between the Sembcorp Marine and PPL Holdings signed April 9, 2001, "no longer in force and to direct PPL Holdings and E-Interface to transfer the remaining 15% of the shares in PPL Shipyard Pte Ltd" to Sembcorp Marine for S$59.4 million.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)."
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!!
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.
But unfortunately, few appreciate or lap up these gems like you do...
Even when they're dished out free-of-charge here...
hehehe... 
178investors ( Date: 13-May-2010 18:08) Posted:
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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......
tradersgx ( Date: 16-May-2010 00:44) Posted:
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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.
Doesn't seem to look rosy.
Watch Out
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.
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.
i like many of your one-liner quotes. short, hilarious, to the point.
think if u compile all of them into a book and sell someday, can make some money.
iPunter ( Date: 12-May-2010 11:01) Posted:
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what happened?
Joe2020 ( Date: 13-May-2010 13:28) Posted:
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Alert!!! Be Prepared!!!! Be Prepared.....
I agree 101%... Clue... Tag team Baker and YZJ on the spot light... can't say more... DYODD..
buysell ( Date: 12-May-2010 16:09) Posted:
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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.
Sorry to damage your faith...
You are free to have as much faith as you like...
better dun play...on this counter...give up...trend is down
myjw2010 ( Date: 12-May-2010 10:56) Posted:
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