Penguin International

[xlandjy]

i view the advice of asking you to sell is with good intentions. You look so stressed in your sharing. We are here to make money but at the same time, what can be more important than our health? The singapore market has another 700+ listed shares, you can easily find a place to put your money elsewhere

Not vested in penguin though

Thank you for the advice.

Thank you for the good intentions.

I am now watching at the bloodshed with peace of mind.

[BlueKelah]

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>

CY09 hope you are holding on well, looks like your portfolio might have taken a big hit?

@1.34 Penguin is indeed looking very interesting. Valuation wise, it is now ~40% net cash to Mcap which is almost coming into my target range. MOS to NAV is also 40% discount liao.

However for a small cap with such large volume 2million+ traded today, it looks to me like there is a big sell off still ongoing. Considering that it was 20cent++ just not so long ago, when I posted about the risk of the high valuation and lack of MOS, I am not buying any until the sharp downtrend stabilizes a bit more.

This is what can happen when one invests in "growth" stocks saying there is value and prices chased up in a very short span of time.

Not sure where the bottom for Penguin will be, it may or may not revisit 10cent again, will let you know when start collecting, but that's probably when daily volume is much lower, then can quietly wack. By then the next quarterly result should be out. besides STI is still not touching below 3150 yet which will be 10% down from 3500 recent highs which will allow me reallocate 10% of cash into stocks

Also with jjlim84's "outsider" info, none of us should be buying at all until Penguin starts ordering more engines. Probably that's why Penguin was not forthcoming about its order book.

So far the only good news is that the baltic dry index has been creeping up the past few weeks. It could mean shipping sector is starting to recover?

-nv-

[CityFarmer]

This is what can happen when one invests in "growth" stocks saying there is value and prices chased up in a very short span of time.

Since the "adjustment" applies to all O&G related stocks, including MTQ, and Boustead Singapore, I really doubt the "conclusion" is right for Penguin. I reckon MTQ and Boustead aren't growth stock.

I do agree that Penguin price is pretty volatile lately, which need closer monitoring, especially the coming 2Q report

[Life is a game]

Personally.. waiting for next quarter report may be a better choice now. I'm also bleeding from this counter but won't be tempted to add until I understand what is happening. Attractiveness of price is very subjective.

Sent from my SM-N9005 using Tapatalk

[Bibi]

Someone mention in this forum that during AGM, a person ask CEO why he didnt purchase more penguin shares. His reply was his wife discourage him to do so. So it looks like the CEO wife is right. He should be very thankful to his wife. Or is it his wife who is selling vigorously now. Just joking .

[Dosser]

First half results out. Decent profit for 2nd Q, but largely on the back of out-of-court legal settlement. Also announcement on obtaining more land for expansion in Batam

[greengiraffe]

Without settlement amount will be loss making liao... very volatile business model with very short visibility...

First half results out. Decent profit for 2nd Q, but largely on the back of out-of-court legal settlement. Also announcement on obtaining more land for expansion in Batam

[LocalOptimal]

First half results out. Decent profit for 2nd Q, but largely on the back of out-of-court legal settlement. Also announcement on obtaining more land for expansion in Batam

Without the one-off, this quarter's actually in the red. Good luck to all vested buddies, I'll continue to monitor this closely, especially with the batam expansion...

[brattzz]

build to stock model, no visibility of client's order-book, delayed engine deliveries, batam expansion capex... lack of visibility indeed!!

[dydx]

2Q result just out.....
http://infopub.sgx.com/FileOpen/Penguin_...eID=364152

Assuming the entire $11.754m under Other Operating Income is attributable to a gain from the out-of-court settlement of a legal case with Wartsila Ship Design Norway AS, Penguin's adjusted PBT accruable to its normal operating activities would be $1.069m. It appears that Penguin has conservatively assumed that the gain would be taxable. If we add back the $2.45m under depreciation of PPE and amortisation of deferred drydocking expenditure, Penguin generated a pretax FCF of $3.519m from operating activities in 2Q.

As at 30JUN15, the group remained in overall net cash position to the tune in excess of $13.0m. This is rare for a boat builder.

In another announcement today, Penguin plans to further expand its shipbuilding and repair infrastructure in Batam - to be funded internally.....
http://infopub.sgx.com/FileOpen/Expansio...eID=364212

It appears that Penguin's management remains confident in the business and is dead serious to build it to a greater height in the longer term.