Penguin International

[thor666]

The AGM is one-way (no live discussion and no live voting) as per the modified AGM rules. So it made for a rather dull meeting (as with other sgx companies).

Perhaps you can drop an email as a follow up clarification..

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[ghchua]

The AGM is one-way (no live discussion and no live voting) as per the modified AGM rules. So it made for a rather dull meeting (as with other sgx companies).

I disagree with you here. The modified SGX AGM/EGM rules does not say that there should not be any live discussion or live voting. 
It is the company constitution of the listed companies that disallowed voting via absentia. Meaning, the person must be present physically to vote or via proxy. Since a shareholder cannot be present physcially during a virtual AGM/EGM, therefore they cannot do live voting.
As for live discussion, again the modified AGM rules does not say that it is disallowed. In fact, iFAST conducted a live Q&A session during their virtual AGM whereby shareholders can raise their questions during their live webcast.

[thor666]

The AGM is one-way (no live discussion and no live voting) as per the modified AGM rules. So it made for a rather dull meeting (as with other sgx companies).

I disagree with you here. The modified SGX AGM/EGM rules does not say that there should not be any live discussion or live voting. 
It is the company constitution of the listed companies that disallowed voting via absentia. Meaning, the person must be present physically to vote or via proxy. Since a shareholder cannot be present during a virtual AGM/EGM, therefore they cannot do live voting.
As for live discussion, again the modified AGM rules does not say that it is disallowed. In fact, iFAST conducted a live Q&A session during their virtual AGM whereby shareholders can raise their questions during their live webcast.

Hi ghchua.

My apologies, I have not been kept updated. You are right on both counts.

In any case, for penguin AGM, there was no live voting nor discussion available and I wanted to convey as such.

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[brattzz]

please feedback to the penguin's board to get a reply on this so that they can do the necessary follow up sir,

[¯|_(ツ)_/¯]

29 May 2020 Tenacity for Tomorrow - PIL
(ppt)


Generally, the oil crisis affects our business more than Covid-19. While demand is still there
for crewboats and security boats, charter rates for these vessels are under pressure because
oil companies are slashing costs across the board. Against this trend, offshore wind is still
growing. We are making modest progress in this segment, having delivered two new
windfarm vessels to a Taiwanese operator.
(click for Q&A)

Stay home and stay safe, valuebuddies.
5 good questions for Tobias Carlisle:

[new-comer1]

New Vessel Enters Service at Formosa 1 Wind Farm

https://www.oedigital.com/news/478958-ne...-wind-farm

A new 36-meter service accommodation transfer vessel (SATV) completed its sea trials program for owner Ventus Marine and charterer Siemens Gamesa Renewable Energy and has commenced operations and maintenance activities on the Formosa 1 offshore wind farm project in Taiwan.

The first-of-its-kind vessel was designed by BMT and built by Penguin Shipyard International. It is engineered to provide long-term offshore accommodation for 10 crew onboard for the 12 day offshore endurance, while still being able to push up against the turbine to transfer technicians. The new concept will fill a gap where a full size SOV (service operation vessel) would be unsuitable and too expensive, BMT said.

The hull form is based on BMT’s ModCat range which offers improved seakeeping performance, but with a minimal resistance penalty, the company said. The improved vessel motion is also complemented by a full active ride control system.

The design also boasts the third generation of BMT’s patented Active Fender System, engineered specifically for larger vessels like the SATV to land on wind turbine generators with a reduced impact load enabling the safe transfer of service technicians onto the towers. All sleeping accommodation are above the main deck where noise levels will be kept to a minimum through the use of a resiliently mounted super structure.

Powered by twin MTU 16V2000 engines that are coupled with a CPP propulsion system supplied by Servogear, to optimize fuel efficiency during different modes of operation. The new 36m SATV will travel at a sprint speed of 20 knots and cruise at a speed of 16 knots, with a deadweight capacity of 75 metric tons.

[new-comer1]

Singapore-based consortium design, develop and build plug-in hybrid launchcraft

https://www.manifoldtimes.com/news/singa...unchcraft/

A consortium of maritime companies at Singapore, namely BOS, Penguin International, Durapower Technology and Bureau Veritas, on Friday (5 June) signed an agreement with Danish engineering company Danfoss to deliver the mega-port’s first newbuild fast launch with a marine electric propulsion system.

The purpose of the memorandum is for the joint design, development and construction of a plug-in hybrid electric fast launch to operate at the-port of Singapore.

The collaboration is a significant stride for one of the world’s largest and busiest harbour’s push towards reduction of carbon emissions and environmentally sustainability in local maritime operations, said Danfoss.

The collaborative partnership to include Danfoss Editron equipment is a result of a long-term focus study by Barry Yung and the Editron team working with shipyards and system integrators.

The study concluded that there was a huge need for education to create awareness and trust building in the conservative marine industry to boost the electrical propulsion as a way of reducing emission, fuel consumption and noise at the port of Singapore.

Out of the study, a green demo vessel was considered the most efficient way to prove the new technological trend as a commercially viable technology to the benefit of Singapore.

“This is an essential and very exciting agreement for Danfoss. This collaboration and technology are targeting smaller vessels, work boats and crew boats up to 50 meters length,” said Soren Kvorning, President of Danfoss Asia-Pacific Region.

“The potential impact is significant. Currently, there are around 4,000 of these in Singapore waters,” says Soren Kvorning, President of Danfoss Asia-Pacific Region.

Penguin International will own and operate the hybrid launch while BOS will provide technical and commercial expertise in the development of the plug-in parallel hybrid electric propulsion systems.

Danfoss and Durapower will support the testing and integration of power drive trains and energy storage systems respectively, and the fast launch will be classed by Bureau Veritas as a hybrid vessel.

[weijian]

Was scrolling through SCM's AGM 2019 presentation and was surprised to find that SCM is into now making security vessels (pg29 if you download it).

It is probably going to be a small portion of revenue for SCM though, compared to the other fields that they will focus on.

SCM AGM 2019: https://links.sgx.com/FileOpen/SCM%20AGM...eID=624267

[Squirrel]

Its that time of the season again. Personally, its an interesting exercise to hazard a guess on what the company's result would be like. Just sharing here what my thought process is like.

For the coming 1H 2020 results am guessing the following results.

Revenue $59.2m
Net Income +$3.5m

The above is pretty much assuming a slowdown in shipbuilding, and a dampening in chartering rate as per reflected in the AGM Q&A. This is still being buffered up with pre Covid 19 orders including the SATV that was delivered in 1H2020.

Right or wrong, am expecting a further slowdown in 2H2020. I have reduced holdings on this company to rotate to perceived higher growth counters. It's all opportunity cost right? With this crisis, it is less likely for the company to distribute a significant portion of its cash pile, and what that would only mean is that dividend returns on the security is being diluted by cash hanging on its balance sheet. There is indeed a lot of cash, but just unlikely to unlock in the near future. Just thought that I should share with people what I am doing with the shares.

[weijian]

Its that time of the season again. Personally, its an interesting exercise to hazard a guess on what the company's result would be like. Just sharing here what my thought process is like.

For the coming 1H 2020 results am guessing the following results.

Revenue $59.2m
Net Income +$3.5m

The above is pretty much assuming a slowdown in shipbuilding, and a dampening in chartering rate as per reflected in the AGM Q&A. This is still being buffered up with pre Covid 19 orders including the SATV that was delivered in 1H2020.

Right or wrong, am expecting a further slowdown in 2H2020. I have reduced holdings on this company to rotate to perceived higher growth counters. It's all opportunity cost right? With this crisis, it is less likely for the company to distribute a significant portion of its cash pile, and what that would only mean is that dividend returns on the security is being diluted by cash hanging on its balance sheet. There is indeed a lot of cash, but just unlikely to unlock in the near future. Just thought that I should share with people what I am doing with the shares.

hi Squirrel, I presume you are not looking for some social proof, or is it?