Statements made after careful and objective deliberation

WE refer to "Stand taken by SBI Offshore sponsor highly disappointing" (BT, Sept 14).

PrimePartners Corporate Finance is one of the pioneer batch of full sponsors authorised by the Singapore Exchange since February 2008 to undertake introducing and continuing sponsorship activities for companies listed on Catalist. We discharge our sponsorship duties within the ambit of the Catalist Listing Rules, the requirements of the Singapore Exchange as and when advised to us, and established framework and processes. We remain committed to our obligations towards both the Singapore Exchange and the companies that we sponsor, and the duty to be impartial and fair as befitting and expected of a Catalist sponsor.

We have seen the development and intervening board and management changes of SBI Offshore since its listing, and are appreciative of the current business and shareholding challenges it faces. Our statements in the letter and supplemental letter to shareholders referred to in the BT article were made after careful and objective deliberation of the facts, information and circumstances currently known to us or gathered from all relevant parties and PwC to date.