Baker Technology (568.SG) has fallen 7.1% at 52.5 cents as prospect of $205.3 million gain from proposed sale of rig business to Yangzijiang (BS6.SG) remains uncertain as Sembcorp Marine (S51.SG) opposes deal, according to Dow Jones.

While Baker says SembMarine has no basis for claim, price pullback on firm volume suggests investors taking no chances, would rather sell on strength than wait for resolution. Baker’s shares were up 29.9% since sale announced April 17. Immediate support at 50 cents, last closed below this level April 20.

Yangzijiang is faring better and is up +2.1% at $1.46 although benefit of sale to China-based shipbuilder not immediate given PPL Shipyard’s stagnating orderbook growth. Resistance at 52-week high of $1.57.

Yangzijiang this month announced tie-up with Middle East investor and one of Yangzijiang’s directors to buy from Baker PPL Holdings, which owns 15% of rig builder PPL Shipyard, with rest held by SembMarine. SembMarine insists sale not proceed, claiming deal circumvents its first right of refusal for PPL Shipyard.