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21-Apr-2010 14:07

BakerTech W121116 / BAKER TECH * YANGZiJIANG 15% PPL*

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178investors ( Date: 18-Apr-2010 23:29) Posted:

The sales of PPLHoldings certainly positive for BT shareholders. However, has to careful some of the projected numbers out there.

While we alll loves to tout the merits of a sales, especially if one is vested, we also must look at what headwinds could be around the corners.

One pertinent headwind, an immediate one, is the outstanding warrants that can be converted in ordinary shares.

Some facts of the outstanding warrants are listed as follow:

Quantity of warrants outstanding : approx 328,000,000

Convertion ratio: 1 warrant can be converted to 1 ordinary share

Exercise price : 32cents

Since the latest market share price of BT is now more than 30% higher than the exercise price of the warrants, many warrant holders may want to convert to ordinary shares now to gain the extra dividends (FY2009 and future dividends from the sales of PPL Holdings).

The on-mass conversion would lead to a total increase of about 50% in the total share issues of BT. Post conversion if fully converted would approx 967,000,000 outstanding shares.

A quick calculation based on the new 967,000,000 shares yield a profit per share of about SGD0.21 from the sales. Assumption is that BT book USD150million profit for the sales and USD/SGD conversion rate of 1.37

I think BT shareholders can hope for a 12cents special dividend next year.

Is BTstill worth punting tomorrow? I dont know really.

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21-Apr-2010 13:59

Baker Technology / It's time to rebound ????

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SharE - ExercisE = WarranT

S$0.600 - S$0.32 = S$0.280

S$0.595 - S$0.32 = S$0.275

S$0.590 - S$0.32 = S$0.270

S$0.585 - S$0.32 = S$0.265

S$0.580 - S$0.32 = S$0.260

S$0.575 - S$0.32 = S$0.255

S$0.570 - S$0.32 = S$0.250

S$0.565 - S$0.32 = S$0.245

S$0.560 - S$0.32 = S$0.240

S$0.555 - S$0.32 = S$0.235

S$0.550 - S$0.32 = S$0.230

S$0.545 - S$0.32 = S$0.225

S$0.540 - S$0.32 = S$0.220

S$0.535 - S$0.32 = S$0.215

S$0.530 - S$0.32 = S$0.210

S$0.525 - S$0.32 = S$0.205

S$0.520 - S$0.32 = S$0.200

S$0.515 - S$0.32 = S$0.195

S$0.510 - S$0.32 = S$0.190

S$0.505 - S$0.32 = S$0.185

S$0.500 - S$0.32 = S$0.180

S$0.495 - S$0.32 = S$0.175

S$0.490 - S$0.32 = S$0.170

S$0.485 - S$0.32 = S$0.165

S$0.480 - S$0.32 = S$0.160

S$0.475 - S$0.32 = S$0.155

S$0.470 - S$0.32 = S$0.150

S$0.465 - S$0.32 = S$0.145

S$0.460 - S$0.32 = S$0.140

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21-Apr-2010 13:58

BakerTech W121116 / BAKER TECH * YANGZiJIANG 15% PPL*

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SGX Mainboard listed Baker Technology Limited (Baker Tech) is a leading manufacturer and provider of specialised equipment and services for the oil & gas industry. Its core business is in the design and construction of a wide range of equipment and components for use in the offshore environment. These include offshore pedestal cranes, anchor winches, skidding systems, jacking systems and raw water tower structures. It also provides services such as project management, engineering services, quality assurance, and construction supervision. These products and services are highly specialised and cater to all facets of the oil & gas industry.

Baker Tech has a 49% interest in York Transport Equipment (Asia) Pte Ltd, a manufacturer and distributor of trailer axles and related components. It also holds a 15% stake in PPL Shipyard which designs and constructs offshore rigs.

PPL’s Pacific Class 375 jack-up rigs are well accepted in the market as rigs of choice.

Baker Tech has market presence in China, the Middle East, Asia and USA

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21-Apr-2010 13:54

Baker Technology / It's time to rebound ????

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SHARE Vs WARRANT PRICE ARBITRAGE

When SHARE PRICE is GREATER than

WARRANT PRICE PLUS EXERCISE PRICE OF S$0.320,

BUY WARRANT For ARBITRAGE PROFITS.

E.G. S$0.525 - S$0.320 = S$0.205

WARRANT PRICE is ONLY S$0.180

ARBITRAGE PROFIT = S$0.205 - S$0.180

= S$0.025

Whenever ARBITRAGE GAP exists,

BUY W121116 Warrant

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21-Apr-2010 13:53

BakerTech W121116 / BAKER TECH * YANGZiJIANG 15% PPL*

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20 April, 2010 - Tuesday

Yangzijiang Shipbuilding Holdings Ltd, a shipbuilder based in China, on Saturday said that it, along with two other investors, have launched a US$155-million joint tender offer to buy Singapore-based PPL Holdings Pte Ltd, a wholly-owned subsidiary of Baker Technology Ltd, sources reported.

The Chinese shipbuilder said in a statement that it intends to acquire a 50.1% stake in PPL Holdings, while an unnamed investment firm from the Middle East and Yu Kebing, a non-executive director of Yangzijiang Shipbuilding, plan to take the remaining 45% and 4.9% stakes, respectively.

To finance the acquisition, Yangzijiang Shipbuilder will issue 83.60 million shares to the Middle East-based investment firm to raise US$77.70 million, according to the statement.

PPL Holdings owns a

15% stake in PPL Shipyard Pte Ltd,

while SembCorp Marine Ltd holds the remaining 85% stake.

The acquisition is expected to help Yangzijiang Shipbuilding strengthen its capability in offshore drilling design and operations and boost its business development and competitive strategy, said the firm.

Located in Jiangyin, Jiangsu Province, Yangzijiang Shipbuilding produces a range of commercial vessels, container ships, bulk carriers and multipurpose cargo vessels.

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21-Apr-2010 13:49

Baker Technology / It's time to rebound ????

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BUY BAKER TECH W121116 WARRANT for

ARBITRAGE PROFIT

NOW

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21-Apr-2010 13:45

BakerTech W121116 / BAKER TECH * YANGZiJIANG 15% PPL*

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SHARE Vs WARRANT PRICE ARBITRAGE

When SHARE PRICE is GREATER than

WARRANT PRICE PLUS EXERCISE PRICE OF S$0.320,

BUY WARRANT For ARBITRAGE PROFITS.

E.G. S$0.525 - S$0.320 = S$0.205

WARRANT PRICE is ONLY S$0.180

ARBITRAGE PROFIT = S$0.205 - S$0.180

= S$0.025

Whenever ARBITRAGE GAP exists,

BUY W121116 Warrant

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21-Apr-2010 13:36

BakerTech W121116 / BAKER TECH * YANGZiJIANG 15% PPL*

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21-Apr-2010 13:32

BakerTech W121116 / BAKER TECH * YANGZiJIANG 15% PPL*

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Baker Technology, the manufacturer and provider of specialised marine offshore equipment and services for the oil and gas industry, plans to undertake a renounceable non-underwritten rights issue of up to 327,749,909 warrants at an issue price of 1 cent for each warrant.

Each warrant will carry the right to subscribe for one share at 32 cents.

The warrants issue will be made on the basis of one warrant for every two existing shares held by shareholders.

If all the warrants are subscribed, the estimated net proceeds from the subscription of the warrants Issue is $3.08 million after deducting professional fees as well as related expenses amounting to $0.20 million. The estimated gross proceeds from the exercise of such warrants will amount to $104.88 million.

Baker Technology plans to use the net proceeds from the subscription of the warrants issue for general working capital purposes.

pharoah88 ( Date: 21-Apr-2010 13:30) Posted:

Baker Technology to raise as much as $105m from warrants rights issue

Written by The Edge Singapore

Thursday, 20 August 2009 21:49

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21-Apr-2010 13:30

BakerTech W121116 / BAKER TECH * YANGZiJIANG 15% PPL*

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Baker Technology to raise as much as $105m from warrants rights issue

Written by The Edge Singapore

Thursday, 20 August 2009 21:49

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21-Apr-2010 13:27

BakerTech W121116 / BAKER TECH * YANGZiJIANG 15% PPL*

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21-Apr-2010 13:14

BakerTech W121116 / BAKER TECH * YANGZiJIANG 15% PPL*

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CONVERT SHARE PRICE TO W121116 WARRANT PRiCE

SHARE PRiCE minus EXERCISE PRiCE equal WARRANT PRiCE

S$0.440 - S$0.32 = S$0.12

* * * * * * * * * * * * *

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21-Apr-2010 12:38

BakerTech W121116 / BAKER TECH * YANGZiJIANG 15% PPL*

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SUPER CHERRY PiCKING

S$0.180

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21-Apr-2010 12:36

BakerTech W121116 / BAKER TECH * YANGZiJIANG 15% PPL*

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W121116 WARRANT GROSSLY UNDERPRiCED BY

S$0.015 ~ S$0.025 this mOrning

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21-Apr-2010 12:34

BakerTech W121116 / BAKER TECH * YANGZiJIANG 15% PPL*

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2012 WARRANT

EXERCISE PRiCE

S$0.320

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21-Apr-2010 12:12

Baker Technology / It's time to rebound ????

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Do you know when did BAKERTECH reach HiGHEST ?

S$6.30 ?

178investors ( Date: 19-Apr-2010 15:18) Posted:

really, the voting is only a formality. if all the directors think its good for their pockets, then it's done since they control about 85% of company.

actually, BT seems to be a company more like an asset trader, meaning they buy businesses more for investments. So when an interested party wants to buy a piece of their businesses for a rich premium, they cash in the profits. A good time to let go? Offer is at 3 times book value.

wishbone ( Date: 19-Apr-2010 10:49) Posted:

Is the selling of its PPL a done deal ?? Is PPL too good to let go for predicted long profitability?? There are three possibilities!!

1. BT rejects the offer (most likely not)
2. Accept the offer.
3. Offer from another company/companies (Cosco, Sembmarine, for example)

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21-Apr-2010 11:59

Baker Technology / It's time to rebound ????

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BakerTech

Symbol:
568

Currency:
Singapore Dollar

Last:

0.525

+ 0.035

Vol (K): 16659.0

Corporate Action - Cum Dividend

Trading
Updated Time	21-Apr 11:38
Open	0.49	High	0.525	Low	0.48
Prev Close	0.49	Buy	-	Sell	-
Volume(K)	16659.0	Buy Vol(K)	-	Sell Vol(K)	-
52 Wk High	0.505	52 Wk Low	0.135	52 Wk Avg Vol	4858.492
All Time High	6.3	All Time Low	0.02
Comments	Near 52 wk high

*Reporting Currency in SGD
Important: ShareJunction obtains our finance data from a third party. Check financial year before use. EPS values are recorded up to two decimal points.

Financials
Date Updated	31-Mar-2010	Financial Year	31-Dec-2009
Current Year Profit (After Tax) $'000,000	38.569	Previous Year Profit (After Tax) $'000,000	18.818
Net Asset Per Share	0.14	Turnover $'000,000	30.17
Current Year EPS (After Interest and Tax)	0.06	Previous Year EPS (After Interest and Tax)	0.03
PE Ratio (After Tax)	5.5	Times Covered	2.6
Price (at update time)	0.33	Dividend Yield	0.07

*Technical Analysis Information is updated Daily

Technicals
RSI	87.83	Williams %R	-15.38
Comments (RSI)	Overbought	Comments (W%R)	Overbought

Intraday Chart

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21-Apr-2010 11:52

Baker Technology / It's time to rebound ????

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*COSCO The 2nd*

BAKERTECH

S$6.30

buysell ( Date: 21-Apr-2010 01:02) Posted:

it's all time high was at $6.30... when was it ?

what do you think is the fair value of this stock ?

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21-Apr-2010 11:47

Baker Technology / It's time to rebound ????

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#### The AGE Of STUPID ####

whO are sElling ? ? ? ?

they bOught HiGH sEll lOw ? ? ? ?

Or

they sEll HiGH bUy lOw ? ? ? ?

whO sO stUpid tO sEll lOw nOw ? ? ? ?

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21-Apr-2010 11:46

UniFiber System / UniFiber

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#### The AGE Of STUPID ####

whO are sElling ? ? ? ?

they bOught HiGH sEll lOw ? ? ? ?

Or

they sEll HiGH bUy lOw ? ? ? ?

whO sO stUpid tO sEll lOw nOw ? ? ? ?

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