Baker Tech

Trading halted.

Anybody into this company?

Nope, no idea on what they do at all.

Bread?

(31-05-2012, 10:34 AM)Musicwhiz Wrote: Nope, no idea on what they do at all.

Bread?

Not bread, that would be Bread talk

They are in oil and gas.. They used to work with Sembmarine until they decided to sell their stake in their JV to competitors. Now, the co is in lawsuit with Sembmarine.

Good NTA with 25/26 cash and no debts although quite a fair bit of the cash come from the disputed sale to competitors.

It is a bit of punter and value play if u ask me...

I was actually eyeing Baker but I realize a large bulk of the cash hoard is from the sale of PPL which is in dispute now. If the judgement is unfavorable towards Baker, the price sure plunge as the sale of PPL will be reversed and Sembcorp can get PPL cheap. Much cheaper.

(31-05-2012, 11:49 AM)sgpunter Wrote: I was actually eyeing Baker but I realize a large bulk of the cash hoard is from the sale of PPL which is in dispute now. If the judgement is unfavorable towards Baker, the price sure plunge as the sale of PPL will be reversed and Sembcorp can get PPL cheap. Much cheaper.

Yeah..else the company won't be trading at cash/share

(31-05-2012, 11:49 AM)sgpunter Wrote: I was actually eyeing Baker but I realize a large bulk of the cash hoard is from the sale of PPL which is in dispute now. If the judgement is unfavorable towards Baker, the price sure plunge as the sale of PPL will be reversed and Sembcorp can get PPL cheap. Much cheaper.

Not true leh!! if you really look at the balance sheet for Q1 FY2012

Under current liabilities section there is an item called
Deferred gain on disposal of subsidiary (g) 58.237 million

(g) Due to the pending legal suit with Sembcorp Marine Ltd, the Group has deferred the gain on disposal of subsidiary, PPL Holdings Pte Ltd to QD Asia Pacific Ltd, which was completed in October 2010.

This would mean that if judgement is unfavorable the "reserved money" will return otherwise the amount will be realized as gain.

(31-05-2012, 10:34 AM)Musicwhiz Wrote: Nope, no idea on what they do at all.

Bread?

Your comment reminds me of another forum where they were joking about Sunshine/Gardenia and Breadtalk. It is just funny to see those people (supposedly investors) willing to "chit-chat" in "investment forums" instead of just doing a simple google search and learn more things. The time taken shouldn't exceed "no idea, blar blar blar".

http://www.bakertech.com.sg/

(31-05-2012, 12:18 PM)cif5000 Wrote: Your comment reminds me of another forum where they were joking about Sunshine/Gardenia and Breadtalk. It is just funny to see those people (supposedly investors) willing to "chit-chat" in "investment forums" instead of just doing a simple google search and learn more things. The time taken shouldn't exceed "no idea, blar blar blar".

http://www.bakertech.com.sg/

Yeah , I was lazy.

But at least I took some time to type out this reply.

(31-05-2012, 12:04 PM)ngcheeki Wrote:

(31-05-2012, 11:49 AM)sgpunter Wrote: I was actually eyeing Baker but I realize a large bulk of the cash hoard is from the sale of PPL which is in dispute now. If the judgement is unfavorable towards Baker, the price sure plunge as the sale of PPL will be reversed and Sembcorp can get PPL cheap. Much cheaper.

Not true leh!! if you really look at the balance sheet for Q1 FY2012

Under current liabilities section there is an item called
Deferred gain on disposal of subsidiary (g) 58.237 million

(g) Due to the pending legal suit with Sembcorp Marine Ltd, the Group has deferred the gain on disposal of subsidiary, PPL Holdings Pte Ltd to QD Asia Pacific Ltd, which was completed in October 2010.

This would mean that if judgement is unfavorable the "reserved money" will return otherwise the amount will be realized as gain.

not true also
The deferred gain only refer to the net profit made from the disposal.
The actual cash portion is much more than the deferred gain.
If i remember correctly, around USD100m or so...Lazy to read again...

(31-05-2012, 12:23 PM)camelking Wrote:

(31-05-2012, 12:04 PM)ngcheeki Wrote:

(31-05-2012, 11:49 AM)sgpunter Wrote: I was actually eyeing Baker but I realize a large bulk of the cash hoard is from the sale of PPL which is in dispute now. If the judgement is unfavorable towards Baker, the price sure plunge as the sale of PPL will be reversed and Sembcorp can get PPL cheap. Much cheaper.

Not true leh!! if you really look at the balance sheet for Q1 FY2012

Under current liabilities section there is an item called
Deferred gain on disposal of subsidiary (g) 58.237 million

(g) Due to the pending legal suit with Sembcorp Marine Ltd, the Group has deferred the gain on disposal of subsidiary, PPL Holdings Pte Ltd to QD Asia Pacific Ltd, which was completed in October 2010.

This would mean that if judgement is unfavorable the "reserved money" will return otherwise the amount will be realized as gain.

not true also
The deferred gain only refer to the net profit made from the disposal.
The actual cash portion is much more than the deferred gain.
If i remember correctly, around USD100m or so...Lazy to read again...

There's the unaccounted profit (~$50m) for FY10 and FY11 in the 15% stake in PPL.

So, there's a middle ground should the sale becomes null and SCM don't get PPL cheap (for $59.4m).