why sgp selling asset to foreigner? SPC UP $1+

[leetahbar]

This morning, SPC shares shot up more than a $1+ n is trading now above $6!! the news that stimulated it was keppel corp is selling spc to PETROCHINA - presumably a foreign entity.

why does sgp wanna sell away our assets to foreigner then waste and throw away good money to buy lousy foreign asset which is more like a liability, eg. BANK OF AMERICA resulting in a shocking 4.2+billion losses in record time?!

2nd UPDATE:Keppel To Sell Stake In SPC To PetroChina

Sunday May 24th, 2009 / 15h27



(Updates with details on SPC, premium, PetroChina's financial adviser, quote from person involved with the deal.)
SYDNEY -(Dow Jones)- Keppel Corp. (KPELY) said Sunday it is selling its 45.51% stake in Singapore Petroleum Co. (S99.SG), or SPC, to PetroChina Co. (PTR) for S$1.47 billion.
The deal, involving wholly owned units of the two companies, is for a consideration of S$6.25 per share, Keppel said in a statement. It represents a 24% premium on Friday's closing share price of SPC.
SPC has a 50% interest in Singapore Refining Company, which owns a 285,000 barrel-per-day refinery and is one of the three major oil refiners in Singapore. In addition, SPC has interests in oil and natural gas blocks in China, Indonesia, Vietnam, Cambodia and Australia.
"For Keppel SPC was a non-core business. PetroChina was looking for a platform for its international expansion. SPC is a Singapore listed company with broad interests in Asia and this made it very attractive," a person involved with the deal told Dow Jones Newswires.
The deal needs regulatory approval, including from the Chinese government.
Keppel said it plans to look for more opportunities in the offshore oil industry and other areas with PetroChina, which is China's largest listed oil company by capacity.
Deutsche Bank acted as financial adviser to PetroChina for the deal.
-By David Winning and Costas Paris, Dow Jones Newswires; +61-2-82724688, [email protected]
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=oy2qmGZCXXVh+nDSnZO1CQ==. You can use this link on the day this article is published and the following day.

 

[guavatree]

old fart faggot Bob Sim Khneg Hwee sel karchng to foreigners!

lanjiao sucking unemployed parasite old fart faggot fake monk PAP dog Bob Sim Kheng Hwee,

temple thief, swindler, fraudster, cheat, con-artist, liar, hypocrite, deceiver, all rolled into one!

you sell your rotten karchng to Bangalas ....

isn't Bangalas foreigners?!?!?!?

 

[leetahbar]

hahaha...i happen to own some SPC at dirt cheap price and laughing my way to the bank now

do u need to buy some PAMPERS to change ur pee soiled diapers? i can sponsor u a few dozens.

 

[yellow_people]

This morning, SPC shares shot up more than a $1+ n is trading now above $6!! the news that stimulated it was keppel corp is selling spc to PETROCHINA - presumably a foreign entity.

why does sgp wanna sell away our assets to foreigner then waste and throw away good money to buy lousy foreign asset which is more like a liability, eg. BANK OF AMERICA resulting in a shocking 4.2+billion losses in record time?!

SG is in dire need of liquidity having lost $200-$300 bil in the recent financial cricis. Hence the sale of BoA and SPC (the only thing Chinese would have been interested in) You see this all around you. Investors snapping up prime properties only to be forced to sell them at a loss upon TOP when economic climate might not be so favorable.

Plus you need liquidity to fund the multitude of programs the govt has instituted to combat growing unemployment and hardship in this slump.

 

[leetahbar]

SG is in dire need of liquidity having lost $200-$300 bil in the recent financial cricis. Hence the sale of BoA and SPC (the only thing Chinese would have been interested in) You see this all around you. Investors snapping up prime properties only to be forced to sell them at a loss upon TOP when economic climate might not be so favorable.

Plus you need liquidity to fund the multitude of programs the govt has instituted to combat growing unemployment and hardship in this slump.

BoA's 4B+ losses if distributed to every sgporeans, ea would be richer by at least $1k! instead of curses, gabramen would be showered with gratitude

 

[leetahbar]

losses by gic means more losses for peasants. gabramen can't chop us now cos times are bad. but once, things get better -muahahahah, every peasants would be chopped chopped to patch up their foolish investment losses.

 

[leetahbar]

just like our grand old dame, THE GENERAL POST OFFICE. gabrmen sold FULLTERON BLDG away only to be converted into a very posh hotel inaccessible to most peasants.

part of our heritage seems to be lost. it should be used as a stamp history museum or remain as a GPO to serve the nation. it has such rich history which should go down with our future generation.

again, it was all for MONEY. another precious asset lost to foreigners.

 

[leetahbar]

sgp tallest hotel, WESTIN STAMFORD had also gone to foreign entity. it's now called unfamiliarly FAIRMONT HOTEL.

COMPASS ROSE which used to be at the 70th floor with a spectacular bird's eyed view while one dined had been changed to a queer name called EQUINOX.

 

[saratogas]

I don't know much about investing but the news of SPC selling, increase the share price by $1. But before the annoucement, the price alreadi shoot up. Is this Insider trading? Staff or People in the Market would have know this piece of news early and make lots of $$$.

 

[leetahbar]

I don't know much about investing but the news of SPC selling, increase the share price by $1. But before the annoucement, the price alreadi shoot up. Is this Insider trading? Staff or People in the Market would have know this piece of news early and make lots of $$$.

RAFFLES HOLDING which owned stamford westin was driven up too from his mundane price. i made a bundle from it:p

 

[Cestbon]

Sinkie CEO buy HIGH sell LOW management style. I like it.

 

[halsey02]

I don't know much about investing but the news of SPC selling, increase the share price by $1. But before the annoucement, the price alreadi shoot up. Is this Insider trading? Staff or People in the Market would have know this piece of news early and make lots of $$$.

If the 1997 fiancial crises had not happened, I owned not a substantial amount , but a fairly large number of SPC shares, go research the pre 97 prices...

I would have still be holding them now, if..IF,,sniff!..IF's....I would be smiling broadly at the price I am getting today.. & I won't bother, if they had sold it to the Martians...

 

[leetahbar]

so many "ifs", i would have grown a forest by now!

 

[cass888]

Because Keppel is selling the shares at $6.25. So of course the price will ultimately shoot up to $6.25.

I really doubt you have any, otherwise you wouldn't be asking something like that.

This morning, SPC shares shot up more than a $1+ n is trading now above $6!! the news that stimulated it was keppel corp is selling spc to PETROCHINA - presumably a foreign entity.

why does sgp wanna sell away our assets to foreigner then waste and throw away good money to buy lousy foreign asset which is more like a liability, eg. BANK OF AMERICA resulting in a shocking 4.2+billion losses in record time?!

2nd UPDATE:Keppel To Sell Stake In SPC To PetroChina

Sunday May 24th, 2009 / 15h27



(Updates with details on SPC, premium, PetroChina's financial adviser, quote from person involved with the deal.)
SYDNEY -(Dow Jones)- Keppel Corp. (KPELY) said Sunday it is selling its 45.51% stake in Singapore Petroleum Co. (S99.SG), or SPC, to PetroChina Co. (PTR) for S$1.47 billion.
The deal, involving wholly owned units of the two companies, is for a consideration of S$6.25 per share, Keppel said in a statement. It represents a 24% premium on Friday's closing share price of SPC.
SPC has a 50% interest in Singapore Refining Company, which owns a 285,000 barrel-per-day refinery and is one of the three major oil refiners in Singapore. In addition, SPC has interests in oil and natural gas blocks in China, Indonesia, Vietnam, Cambodia and Australia.
"For Keppel SPC was a non-core business. PetroChina was looking for a platform for its international expansion. SPC is a Singapore listed company with broad interests in Asia and this made it very attractive," a person involved with the deal told Dow Jones Newswires.
The deal needs regulatory approval, including from the Chinese government.
Keppel said it plans to look for more opportunities in the offshore oil industry and other areas with PetroChina, which is China's largest listed oil company by capacity.
Deutsche Bank acted as financial adviser to PetroChina for the deal.
-By David Winning and Costas Paris, Dow Jones Newswires; +61-2-82724688, [email protected]
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=oy2qmGZCXXVh+nDSnZO1CQ==. You can use this link on the day this article is published and the following day.

 

[leetahbar]

....and singapore once sold away CHRISTMAS ISLAND to ozzie.

go read STFORUM today 28 may.

 

[leetahbar]

Because Keppel is selling the shares at $6.25. So of course the price will ultimately shoot up to $6.25.

I really doubt you have any, otherwise you wouldn't be asking something like that.

i ve made my money but ethically i still feel something isn't morally right here.

 

[leetahbar]

LEE KHENG WEE: Keppel's SPC Sale -'We once sold Christmas Island to the Australians!

--------------------------------------------------------------------------------

Keppel's SPC sale
'We once sold Christmas Island to the Australians.'

MR LEE KHENG WEE: 'I am puzzled and disturbed by Tuesday's report ('PetroChina offer: SPC, Keppel surge') that Keppel Corporation has decided to sell its 45.5 per cent stake in Singapore Petroleum Company (SPC) to Chinese oil giant, PetroChina. SPC is profitable. I even recall a senior executive at a seminar saying that SPC's true value would be realised only in 2011. Naturally, many investors are probably rubbing their hands in glee at the stunning price spike in SPC's share price. But how many would stop to think of the sale's implication? To me, it means that every time I top up my petrol, there is a capital outflow to another country and more. What is Keppel's rationale? Lest anyone think I am just a fuzzy old badger, may I remind everyone we once sold Christmas Island to the Australians?'

 

[MarrickG]

It appears Singapore is screwed...the local firms has no more holding power and needs to sell at this lousy time??? I expect more to come, no wonder 154 says it is a good time to buy property. If you dun, more local firms will close down...

SG is in dire need of liquidity having lost $200-$300 bil in the recent financial cricis. Hence the sale of BoA and SPC (the only thing Chinese would have been interested in) You see this all around you. Investors snapping up prime properties only to be forced to sell them at a loss upon TOP when economic climate might not be so favorable.

Plus you need liquidity to fund the multitude of programs the govt has instituted to combat growing unemployment and hardship in this slump.

 

[leetahbar]

long term, short term, sick term, mad term...what ever the term, they sure have a description for it to smoke the crowds.