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YZJ Shipbldg SGD
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Cruising with the ship ..Yangzijiang
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L.....
Veteran |
20-May-2010 15:45
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in the world of business, there are many deep dark secrets haha i wish i have a copy of this JVA ahhahahahha
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CheongCK
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20-May-2010 15:26
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I thought Secret Society is illegal in Singapore?
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pharoah88
Supreme |
20-May-2010 11:03
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Heard that some factories in CHINA hired Taiwan Gang Chief and his whole gang to run factories in CHINA ? | ||||
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pharoah88
Supreme |
20-May-2010 11:00
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some corporate sounds like institutionalised gangs. wonder if the gangs had infiltrated the corporations? |
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pharoah88
Supreme |
20-May-2010 10:57
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it sounds like a SECRET that made SCM all the profits all the past years ? | ||||
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harley22ez
Senior |
20-May-2010 10:49
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more news?? quote from bt forum... See BusinessTimes article below. After purportly divulging the contents of the JVA to YZJ, Baker Tech, thru PPLH, tried to get SCM to agree to make public the JVA....prossibly to entrap SCM, if they agreed, to cause the lawsuit to disslove the JVA to be nullified. However, looks like SCM did not take the bait. Personnal opinion. BusinessTimes 15 May 2010 Published May 15, 2010 Baker Tech waves secret pact in SembMarine's face It offers to reveal contents of agreement; SembMarine says it is 'null and void' By VEN SREENIVASAN BAKER Technology has revealed for the first time a confidential Joint Venture Agreement that it had with Sembcorp Marine over a shipyard the two companies jointly own - and offered to make it public. The agreement apparently defines management and board control at the shipyard which the outfits are now squabbling over. But in an intriguing response, SembMarine claims that the mysterious JVA is now null and void. As the tussle between the two continued, Baker's 100 per cent owned PPL Holdings fired the first salvo yesterday. In a letter to SembMarine CEO Wong Weng Sun, and copied to the Singapore Exchange, Share Investors Association of Singapore and all newspapers, PPL said that it was prepared to waive its rights to a confidentiality clause in a 2001 Joint Venture Agreement which defined control over PPL Shipyard, and allow it to be a matter of public record. 'Please advise if you are likewise agreeable and we can request for our parent company, Baker Technology Ltd, to post the Joint Venture Agreement on the SGXNET for dissemination to the general public,' PPL Holdings said in a letter which BT received. But SembMarine insisted that the JVA - the contents of which remain unknown to the investing public - is null and void. SembMarine said that following its offer of $59.4 million for PPL Holdings' 15 per cent stake in PPL Shipyard, it has now become 100 per cent owner of the shipyard 'and that as a consequence, the joint venture agreement dated 9 April 2001, to the extent and in the form as it then subsisted, ceased to be in force'. It added that on May 13, it had sent a letter to PPL Holdings informing it that the Joint Venture Agreement had been terminated from that date on account of 'breaches' by PPL Holdings. Baker, through its wholly owned PPL Holdings, has been going toe-to-toe with SembMarine over the former's decision to sell its 15 per cent stake in PPL Shipyard to China's Yangzijiang for US$155 million. SembMarine, which owns 85 per cent of PPL Shipyard, has objected to the sale, citing its 'pre-emption rights' over any such sale, and offered the $59.4 million for the remaining 15 per cent stake in the shipyard. But PPL Holdings rejected the offer. The issue took on added prominence this week after a commentary in BT asked why SembMarine, despite having overwhelming majority shareholding, seemed unable to assert more control over the management or sale of the shipyard to the Chinese company. In a letter published in yesterday's BT, SembMarine pointed out that according to the Memorandum and Articles of Association of PPL Shipyard, it had six out of a total of nine directors on PPL Shipyard's board. It made no mention of the existence of a separate Joint Venture Agreement. It further asserted that it was incorrect to say that PPL Holdings had any rights to PPL Shipyard's board seats or management: 'It has none.' But PPL Holdings asserts that the issues raised so far pertain to legal contractual clauses set out in the Joint Venture Agreement, and supplemented by a supplemental letter dated July 5, 2003. 'Whilst the Memorandum and Articles of Association of PPL Shipyard Pte Ltd is a matter of public record, the Joint Venture Agreement is not available to the public,' PPL Holdings said. 'Distorted views are being formed every hour by the public because they do not have full information on the above mentioned issues,' it added. unquote.. |
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CheongCK
Senior |
20-May-2010 08:42
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Any News on Taiwan dual listing? |
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harley22ez
Senior |
20-May-2010 08:12
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its just like in the movies! these baker guys have good business acumen in order to push their stocks higher.thos ein between who are in for the fast buck will be dragged along and those who still harbour hope may or may not be lucky...only time will tell . in the end....these baker guys will be laughing to the bank!!!!!!!!
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rickyw
Master |
19-May-2010 20:27
Yells: "keep happy..." |
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tomorrow never dies lei.... just another storm to suppress this stock...no worries...captain jack sporrow will come to rescue...
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Forglory
Member |
19-May-2010 18:54
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can someone tell me in plain english what in the world is going on with all these announcements? |
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rickyw
Master |
19-May-2010 17:56
Yells: "keep happy..." |
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ladies and gentlemen, this is your captain speaking, please wear your life jacket...tomorrow we will facing terrible whether and un-friendly storm. DOW futures all in red and -80, if tonight DOW slide down 100+ again...for sure tomorrow STI 2700+... Ladies, oldest and children first.... |
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L.....
Veteran |
19-May-2010 17:36
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i suspect its v simple, stupid bakers want to dump their share in ppl for long time liao, scm die die dont wanna buy the 15%, thats why create a big woohaa scenerio by dragging yzj in.. haha
btw, tdy bad day for the cruise, for everyone else...we see some dumping today.. hopefully, the white knight will be back
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wishbone
Master |
19-May-2010 17:25
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Many things are implied and at time not explicit. This is where the lawyer will fight on this and expect the judge to rule on the assumption to apply logic, best interest, fair deal and in good faith. Whatever it may be at the end, once it come to court battle it is going to be a long drawn process and the so called potentials will be dwindled and diminished day by day.
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L.....
Veteran |
19-May-2010 16:33
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massive dumping alert woman and children and elderly should wear life jacket and disembark first haha |
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L.....
Veteran |
19-May-2010 16:01
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can thrash baker shares already lor, somewhere along the line, someone must have misread the t&c or misintepreted the contracts
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krisluke
Supreme |
19-May-2010 15:55
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no impact on court appeal from SMM to baker tech the price already factor into baker tech current share pice of PPL 15% sale transaction to YZJ, if sucessful below 129 seem a good entry price just my 2 cents view |
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harley22ez
Senior |
19-May-2010 15:13
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looks starnge as baker tech is being beaten to a pulp at 0.375!
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E-war
Veteran |
19-May-2010 14:45
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She's holding steady in these rough seas liao. Tat's pretty impressive already. | ||||
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L.....
Veteran |
19-May-2010 12:01
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BB tug of war again, i sell 1m shares, u buy 1m shares
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L.....
Veteran |
19-May-2010 11:45
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relax la, when u r in the big ocean, will have big waves, tsunamis, or even killer whales... impt is, to know if your captain is relaible in steering the ship u r in..... at end of day, know where is the life jacket kept.. but i think, in my opinion, no need to use that as yet hahahha |
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