Pic from: http://www.straitstimes.com/business/companies-markets/vallianz-shares-whacked-by-controlling-shareholder-swibers-woes
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SINGAPORE - Shares of offshore services provider Vallianz Holdings nosedived by as much as 53 per cent on Thursday morning (July 28), following news that its controlling shareholder Swiber Holdings has filed to wind up and is under provisional liquidation.At 9.30am, Vallianz shares plunged to 1.7 cents, down by a hefty 53.8 per cent from its closing price of 3.6 cents the day before - prompting a trading query from the Singapore Exchange.
As at 12.30 pm, Vallianz was back up slightly at 1.9 cents, and was the most heavily traded stock on the local bourse, with 180.1 million shares having changed hands.
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Dear friends,
Do expect more turbulence in offshore and Marine sector as this could have a domino effect on related stocks.
As to how to position yourself in this market kindly drop me a note.
Sometimes it pays to ask for professional advice instead of relying on gut feel. Online trading may not be suitable for all clients especially those who need guidance as most do not know what stock, when to buy or sell or how to react in such news or big events.
If you are one of them, it is in your interest to have a professional to look into your portfolio before causing more harm or damage. Know that its not too late to ask.
Cheers and have a good trading day
Eric