Onwards now to Part 3 of my MTQ FY 2011 analysis, which will cover a major transaction by MTQ – that of its 100%-owned subsidiary Blossomvale Investments Pte Ltd purchasing 200 million shares in an Australian-listed (ASX-listed) company called Neptune Marine Services Pty Ltd (“Neptune”) at AUD 5 cents each. This was announced in a March 4, 2011 announcement posted on SGXNet, and costs the Company about S$12.93 million, which forms a significant portion of their cash and bank balances; hence I have classified this as a major transaction and am delving deep into the rationale. From the announcement proper, MTQ mentions that it seeks to participate in Neptune’s business as a significant investor and views Neptune’s capabilities as a “strategic extension of its predominantly workshop based operations in Singapore and Bahrain”. Kuah Boon Wee, CEO of MTQ, will also take a seat on the Board of Directors of ......