Penguin International

[Ben]

Despite now trading at near its 5-year high, Penguin's share price - last done at $0.172 (vs. recent high at $0.175) - has exhibited great resilience in this morning's mini-correction. Those loose-footed shareholders who became unnecessarily panicky this morning and sold their shares at $0.169 to $0.171 have transferred a portion of their wealth to those who bought over their shares! Clearly, in investment it pays to remain steady when under market stress.

In the last AGM, a SH stood up and complain that this counter is so illiquid and the price is stagnant. He said that he will sell out if the price move by two ticks. Penguin was trading at about 8c then. If indeed he sells when the price move by two ticks, I wonder how he feels today watching the price rally so much. Let see if I will see him again in this coming AGM.

I think today correction is a good and healthy one. And I also believe those who bought today are people with a longer view, and will not sell when price move by two ticks. At today's price, it is still trading below current year NAV and historical PE of 7X. Still have lots of upside potential IMO.