Yeah it's bad news. Interesting thing is, cost of maintaining these legacy vessels is higher than selling price. As long as they can't dispose of them, these vessels are going to nibble at their bottom line. Makes more sense to give these boats away instead of selling them. For one, you can save on the substantial maintenance cost.
...the Company wishes to announce that the Disposal Agreement with PT Ninda has been cancelled as the latter could not fulfil the terms of the Disposal Agreement and the deposit of USD345,000 has been forfeited.
It is good news, how come it is bad news? Perdana now is earning extra USD345,000 that forfeited 10% deposit from PT Ninda Pratama Vriesindo (“PT Ninda”). Then, sell this 7 old Vessels enbloc to Maimah Marine Pte Ltd company with more higher price. That's mean perdana is "buta buta" earning USD345,000. So, that's why the share is up..
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Risk Trader #2
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Posted by Risk Trader #2 > 2013-05-17 10:35 | Report Abuse
WAR!!!!