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01-08-2011, 10:25 PM
(This post was last modified: 01-08-2011, 10:26 PM by pianist.)
this evening announcement:"In the meantime, the Company wishes to advise Shareholders to refrain from taking any action in respect of their Shares which may be prejudicial to their interests, and to exercise caution when dealing in the Shares, until they have considered the information, the advice of the IFA and the recommendations of the Board of Directors of the Company, contained in the Mitsui Offeree Circular to be issued in due course by the Company."
so there is still a IFA report outstanding..? but today seeing ICTSI deciding to throw in the towel, i also followed suit today and visited CDP to tender in all my Portek shares to accept Mitsui's offer. game over for me at least.
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I've also tendered my shares over the weekend. I think its highly unlikely that there will be a higher offer than this. Digressing... I can't remember the signature I used for CDP so I just signed one which I thought most likely, will they call me or send me any notification in the event my signature is wrong?
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Today (8Sep11) marks the close of Portek as a listed company on SGX. Based on today's announcement on the completion of Mitsui & Co's GO.....
http://info.sgx.com/webcoranncatth.nsf/V...40081ACD1/$file/Portek-Announcement-Close_of_Offer__Suspension_of_Trading_08-09-2011.pdf?openelement
, one can simply conclude that it has been a "Win-Win-Win-Win" deal for all parties! - i.e. for Mitsui & Co, for ICTSI, for Portek's management team and previous controlling shareholders, and for most public shareholders.
I believe the business schools in NUS, NTU, and SMU should write a case study on Portek, which should be highly useful and relevant in their teaching of "building a local business enterprise", "international expansion", and "cross-border M&A in Asia", to their business students.
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yes, i happy/yet sad that this local born company has done well, but yet...brought over leh... :O
1) Try NOT to LOSE money!
2) Do NOT SELL in BEAR, BUY-BUY-BUY! invest in managements/companies that does the same!
3) CASH in hand is KING in BEAR!
4) In BULL, SELL-SELL-SELL!
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12-02-2014, 01:33 PM
(This post was last modified: 12-02-2014, 01:42 PM by cyclone.)
Read from NextInsight.net : http://nextinsight.net/index.php/story-a...11-for-90m- , Larry Lam the founder of Portek has passed away. My heartfelt condolences.
Specuvestor: Asset - Business - Structure.
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(12-02-2014, 01:33 PM)cyclone Wrote: Read from NextInsight.net : http://nextinsight.net/index.php/story-a...11-for-90m- , Larry Lam the founder of Portek has passed away. My heartfelt condolences.
From the Nextinsight article:
"While Portek gave stock options to its staff, Larry himself did not collect any. In addition, his salary was not the highest in the company and he flew economy as he considered business class to be expensive."
A truly great leader.
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Hard to find this type of leader around nowadays, sad to say...
(12-02-2014, 02:02 PM)portuser Wrote: (12-02-2014, 01:33 PM)cyclone Wrote: Read from NextInsight.net : http://nextinsight.net/index.php/story-a...11-for-90m- , Larry Lam the founder of Portek has passed away. My heartfelt condolences.
From the Nextinsight article:
"While Portek gave stock options to its staff, Larry himself did not collect any. In addition, his salary was not the highest in the company and he flew economy as he considered business class to be expensive."
A truly great leader.
[I am not here to promote any stocks. Please always do your own research before embarking on any investment decision. I will not be liable for any of your own decisions. Your use of any information or materials is entirely at your own risk. It is your responsibility to ensure that any products, services or information meet your specific requirements. I do not produce material which meets the objectives of any specific financial and risk profile of investors.]
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my salute & respect to this Malaysian born batu pahat leader.
anyone knows what type of cancer he was suffering from.
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Truly a great lost to Singapore. Very few SME in the industrial sector is doing well. We had lost a great deal of our industrial strength and those that found a niche in a unique way are very rare - Larry Lam will be missed by Shldrs that had held on to the final buy out.
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Portek International
Many former Portek shareholders are indebted to Larry. His business model, revolving around excellent engineering services for port operators and operating ports in faraway places reliably and cost efficiently, has turned Portek into a very strong brand name in the port industry. In the end, Portek’s reputation attracted competing bids from Mitsui and International container terminal Services.
I must thank fellow forummers for introducing Portek in Valuebuddies.
Portuser’s points about how efficient running of Portek-owned terminals helps to improve the well-being of host countries are one of the main reasons for me to invest in Portek.
Thank you, Larry, and rest in peace.
Simpleman
(15-02-2011, 06:34 PM)portuser Wrote: (15-02-2011, 06:05 PM)dydx Wrote: Taking advantage of the depressed market today (15Feb11) and some loose-footed shareholders who turned sellers, Chairman/MD Larry Lam added another 100 lots and paid $0.525/share.....
http://info.sgx.com/webcorannc.nsf/Annou...endocument
With this purchase, Lam now owns a direct personal stake of 23.97% in Portek's issued equity shares.
Portek has done S'pore proud.
It manages ports that were previously state-run, introducing automation and mechanisation, improving work flow etc.
Host countries benefit from speedier cargo movements, which lower the costs of trades.
The fact that it is now operating terminals profitably in four countries, and is in the running for operating terminals in Russia, speak vol of its competence.
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