Penguin International

(03-10-2014, 10:23 AM)idyllic_yawster Wrote:

Quote:With a build cycle of less than six months, from keel lay to end of commissioning, we are the world’s fastest builder of crewboats. And with more than 20 crewboat deliveries a year, we are also the world’s most prolific builder of crewboats.

One more comment on the build cycle. The info seems out-dated. I am keeping track of the cycle, and the cycle continue to trend down in FY2014.

I am using inventory day as indicator, since construction-in-progress is the bulk of the inventory.

I should tune-down now, otherwise I might be mistaken as "talking-up" a stock.

(vested)

Thanks CityFarmer, I didn't track the cycle, so thanks for the info! It was useful.

Touched 0.21 today. Good time to accumulate?

Looks like the oil price fall is affecting Penguin's prices by quite a bit. That's the only reason I can think of, as nothing has changed fundamentally. That being said, Penguin is not directly in the OSV business too.

Results to release on 7th Nov.

(15-10-2014, 10:01 AM)LocalOptimal Wrote: Touched 0.21 today. Good time to accumulate?

Looks like the oil price fall is affecting Penguin's prices by quite a bit. That's the only reason I can think of, as nothing has changed fundamentally. That being said, Penguin is not directly in the OSV business too.

Results to release on 7th Nov.

Good morning LocalOptimal san and everyone.

How do u know sir? Thank you.

<vested><not a call to buy or sell>

(15-10-2014, 10:01 AM)LocalOptimal Wrote: Touched 0.21 today. Good time to accumulate?

Looks like the oil price fall is affecting Penguin's prices by quite a bit. That's the only reason I can think of, as nothing has changed fundamentally. That being said, Penguin is not directly in the OSV business too.

Results to release on 7th Nov.

Some shares fundamentally no change but also undervalued because the environment has changed. An example is Hupsteel. Oil price affect Oil rigs demand affect offshore activities affect FSIV demand. Penguin build FSIV too. No? Chances are high that its coming quarter results will be good or at least wont go into loss. However, stock market looks ahead.

Still vested.

Oil just lost 4.6% yesterday, so long as this trend continues Penguin will continue to go down. Already lost >20% since peak.

As I said before, over the NAV and low div yield, already overvalued.

Can buy in with sufficient MOS again when it reach near 15c level again.

(15-10-2014, 10:49 AM)BlueKelah Wrote: Oil just lost 4.6% yesterday, so long as this trend continues Penguin will continue to go down. Already lost >20% since peak.

As I said before, over the NAV and low div yield, already overvalued.

Can buy in with sufficient MOS again when it reach near 15c level again.

But is nav and low div yield the only measures to determine a company's value? Unless one is expecting the company to be delisted in near future or expect this company will not grow in size. Otherwise wouldn't it be better to use shareholders money to grow the company and reward shareholders rather than return it as dividend? Maybe a dividend player shouldn't be looking at penguin in the first place.

Penguin is not a dividend or NAV play stock. Investors looking for these should focus on other stocks.

As a well established and growing business, and based on what has been achieved in the 1H…..
http://infopub.sgx.com/FileOpen/Penguin_...eID=308785
we can reasonably expect Penguin to post an EPS of $0.052 in this FY14, and to close the year with a NAV/share of at least $0.21 as at 31Dec14. Based on a good EPS, I suppose we can also reasonably expect Penguin to raise its dividend for FY14 to say $0.01 (vs. $0.005 in last FY13).

If we believe Penguin's business and profits will continue to grow in the foreseeable future - just based on its current order backlog and a growing charter fleet of its own self-made and low-cost crew boats - and the fair value of the Penguin share is closer to $0.30, then the current share price at the $0.205/0.21 level appears to offer pretty good value. No?

As long as the stock holds enough MOS and one is comfortable of the stock as a % of his portfolio, the undervalued stock is a worthy investment. I have been accumulating penguin as my valuation has not changed. I personally believe the movement in oil prices will not affect penguin long term prospects much

To dydx: could you elaborate more on the order backlog status. Understand previously the backlog was about a year