Penguin International

We have to bear in mind that Penguin uses different marques of engines for different boat models, and usually their customers choose the desired boat models according to their business requirements and also their preferences on the engines to be fitted to the boats. According to the company website, there are now a total of 4 leading engine suppliers to Penguin's current 8 boat models -

1. Caterpillar (USA) - FLEX-40SLC, FLEX Fighter, FLEX Ferry
2. Cummins (USA) - FLEX-40SL, FLEX-50
3. Baudouin (French) - FLEX-40, FLEX-45
4. MAN (Germany) - FLEX-25

Penguin is smart to offer 3 engine options on its flagship FLEX-40 model series, so that their customers can enjoy maximum flexibilities.

We will leave the details to analysts. On a big picture basis, there is no room for optimism given the sudden change in the landscape.

If Penguin can request deferment of orders for a particular engine, it can happen across the board.

Odd Lots Vested

(01-08-2015, 06:32 PM)dydx Wrote: We have to bear in mind that Penguin uses different marques of engines for different boat models, and usually their customers choose the desired boat models according to their business requirements and also their preferences on the engines to be fitted to the boats. According to the company website, there are now a total of 4 leading engine suppliers to Penguin's current 8 boat models -

1. Caterpillar (USA) - FLEX-40SLC, FLEX Fighter, FLEX Ferry
2. Cummins (USA) - FLEX-40SL, FLEX-50
3. Baudouin (French) - FLEX-40, FLEX-45
4. MAN (Germany) - FLEX-25

Penguin is smart to offer 3 engine options on its flagship FLEX-40 model series, so that their customers can enjoy maximum flexibilities.

Initiate some puny positions on Penguin base on my silly 30% discount to net assets . Will keep averaging down to 10cts from here.

Hi GreenGiraffe
That is broad brush. The weaker O&G affecting Penguin order is expected. I will be especially worried if our fellow VB is working for Caterpillar.

Hi dydx
I understand your point. But what I puzzled is the fact that Penguin has ordered a lot from the said supplier last year, possibly implying that the business for O&G has came to a near standstill. Hopefully the Flex Fighter and Ferry and Repairs come in strongly to compensate.

By the way for Qtr 2, there is a small positive, recovery of legal fee and small compensation on the lawsuit. Just took another small bite.

(01-08-2015, 08:58 PM)greengiraffe Wrote: We will leave the details to analysts. On a big picture basis, there is no room for optimism given the sudden change in the landscape.

If Penguin can request deferment of orders for a particular engine, it can happen across the board.

Odd Lots Vested

(01-08-2015, 06:32 PM)dydx Wrote: We have to bear in mind that Penguin uses different marques of engines for different boat models, and usually their customers choose the desired boat models according to their business requirements and also their preferences on the engines to be fitted to the boats. According to the company website, there are now a total of 4 leading engine suppliers to Penguin's current 8 boat models -

1. Caterpillar (USA) - FLEX-40SLC, FLEX Fighter, FLEX Ferry
2. Cummins (USA) - FLEX-40SL, FLEX-50
3. Baudouin (French) - FLEX-40, FLEX-45
4. MAN (Germany) - FLEX-25

Penguin is smart to offer 3 engine options on its flagship FLEX-40 model series, so that their customers can enjoy maximum flexibilities.

Hi Bluekelah and Bibi,

Now its at 0.134. Any of you expressing interest?

Given this price, I am tempted to add more. But will decide first before moving. Personally feel the price does not justify the value of the business as penguin is a market leader with strong reputation. Of course, my main worry is a lack of demand for crew boat orders.

I dont know how much is the margin of error allowable at 0.134, but to me it seems there is a lot, given the cash, inventory, PPE and sustaining ferry services to tekong

<just bought at 0.133 @ 11.36>

(04-08-2015, 11:23 AM)CY09 Wrote: Hi Bluekelah and Bibi,

Now its at 0.134. Any of you expressing interest?

Given this price, I am tempted to add more. But will decide first before moving. Personally feel the price does not justify the value of the business as penguin is a market leader with strong reputation

Wow current price is $0.134 against book value of $0.213. p/b 0.63x.

Net cash of $36M represents 37% of the market cap($96M).

(vested)

The sellers are most probably 'insiders'. What infor do they have that the 'outsiders' don't. My initital guess is significantly lower profits but my second guess now is one might see a loss......

not vested. just learning and watching......

(29-07-2015, 11:33 AM)Behappyalways Wrote: There is some selling down for no particular reasons.

My guess is that some people already had a 'glimpse' on the 2Q result.

When the 2Q result is out we will know if it is true.

Not vested

Just took another nibble at 13.4.

guys, isn't it better to see next Q reportings before buy/sell?

(04-08-2015, 12:14 PM)brattzz Wrote: guys, isn't it better to see next Q reportings before buy/sell?

Agree. If bad result more likely it will continue to go down and will have better entry price. If good result, first one to queue on the following day @9am. [emoji1]