Penguin International

(02-06-2016, 12:57 PM)BlueKelah Wrote:

(02-06-2016, 11:48 AM)ksir Wrote:

(02-06-2016, 10:25 AM)BlueKelah Wrote: 3:1 consolidation today. 

Good move by management to do a funny 3:1 consolidation. 

Share price now around 30 cents with no volume. Looks like all the punters are out or have taken too much losses to sell and no more interest in this stock, even no VBs seem to be covering the consolidation.

it will likely go back to obscurity again..

On the bright side, might be some value in it if it goes back to GFC prices.

So if below MTP (25cent?) then reconsolidate again? Really Funny yeah!?

@ksir Minimum trading price is 20c.

Yeah they would have to reconsolidate again if prices drop below 20c. During GFC lows it hit all the way to 15c (adjusted for 3:1) , back then price of WTI went below $50 just like the price of oil is now, so sub 20c again it's a possibility.

Thanks for the info.
It's usually a good sign when even buddies lost interest in a company!
Oops, no offense, i cut out (in red) at about 0.42 (adjusted for consolidation).

No problem

It's OK can't win all the time, just take it as school fees. Main thing is not to vest too much % of ur portfolio even when things are looking very good for a stock.

With small caps things can get very volatile both on the upside and downsize. And with opmi unfriendly management makes the risks so much more.



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For 'watchers' of penguin like me, it is unfortunate that I can only be active on penguin thread when quarterly results are released. This is because there isn't much update or comments that I can value add to this thread.

Accumulated more at 30 cents

Wow high conviction buyer[SMILING FACE WITH OPEN MOUTH] if can hold until oil rebound back $100 again in a couple years should be fine, unless boss decide to delist below 30c

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If one looks at the latest financial statement and the general economic situation, I doubt the company would be profitable in the next few quarters unless it has some kind of writebacks and etc which is not predictable on our part. If it is going to be loss-making then most probably the share price might come down some more as NTA declines further.

(02-06-2016, 05:14 PM)CY09 Wrote: For 'watchers' of penguin like me, it is unfortunate that I can only be active on penguin thread when quarterly results are released. This is because there isn't much update or comments that I can value add to this thread.

Accumulated more at 30 cents

Any rationale for accumulating more?

I'm unvested but on the hunt for a big capital allocation.

U read back previous post lah, CY09 shorted his ownshares at 16c and 13c, now buy back loh to add back. Maybe he wanna aim for top 20 shareholder kekeke...

His is heavily vested so portfolio fate closely tied to this counter [SMILING FACE WITH OPEN MOUTH] I think he fell in loves with penguins

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I guess each person mileage varies. If he is young and can tough out the next few tough quarters of Penguin's harsh environment. He may well turns out to be the last to laugh.

Having said that, comparatively in this harsh environment, there are plenty of opportunities in Sgx (at least to me), that Penguin has to drop a lot more to attract me.

I still like the balance sheet but not the Management (chairman maybe but not the CEO).

by my calculations,

the NCAV ~40m
Current market cap ~70m
Price is around half of NAV 
Net cash only about ~32% now.
 
Balance sheet still ok but not looking that attractive yet.

BlueKelah, how do you get the NCAV of 40m?