Penguin International

[dydx]

Seems like market is cheering the news of Penguin giving up on this Tekong ferry services.

No man, those buyers who have been lurking around in the past few weeks finally had a good chance and a field day to buy reasonable volume because the seemingly negative news on the loss of the Tekong ferry contract has caused some loose-footed shareholders to turn sellers.

[luckystar]

Seems like market is cheering the news of Penguin giving up on this Tekong ferry services.

No man, those buyers who have been lurking around in the past few weeks finally had a good chance and a field day to buy reasonable volume because the seemingly negative news on the loss of the Tekong ferry contract has caused some loose-footed shareholders to turn sellers.

So this little piece of "negative news" turns out to be a great buying opportunity.

[Squirrel]

Anyone at the AGM? Appreciate if you could update us on what happened there. Thanks!

[xlandjy]

Anyone at the AGM? Appreciate if you could update us on what happened there. Thanks!

Was there .. But the quality of deliberation was poor.  Whilst there seemed to be an improvement on the performance of the company, the handling on the investment Marco Polo issue by the Chairman was quite disappointing.  It also came to light that the 10 million dollars spent on the little island off Batam is likely to be a wasted venture. 

The money spent on marco polo and the little island cost around S$20,000,000.  It could have been used to pay dividend to the shareholders. 

Overall, I would rate the deliberation at the AGM at C.

[Squirrel]

Thanks for the info. Could you elaborate on the $10m spent on the little island? Was that meant to be the 5th shipyard?

[dydx]

It also came to light that the 10 million dollars spent on the little island off Batam is likely to be a wasted venture. 

May I know where is your source of info on this? Have you checked/verified the amount?

[Squirrel]

Looks like someone took notice. Philip Securities Research initiated coverage with TP of $0.61.

https://www.stocksbnb.com/reports/pengui...x-and-fly/

[luckystar]

xlandjy has kept surprisingly quiet. Wondering why he never answered questions from our fellow forummers here. Would be good if xlandjy says something to clarify his previous statements.

[coolken163]

Anyone at the AGM? Appreciate if you could update us on what happened there. Thanks!

Was there .. But the quality of deliberation was poor.  Whilst there seemed to be an improvement on the performance of the company, the handling on the investment Marco Polo issue by the Chairman was quite disappointing.  It also came to light that the 10 million dollars spent on the little island off Batam is likely to be a wasted venture. 

The money spent on marco polo and the little island cost around S$20,000,000.  It could have been used to pay dividend to the shareholders. 

Overall, I would rate the deliberation at the AGM at C.

I remembered the Chairman giving his explanantion that they went in the investment because Marco Polo had very solid BS after the restructuring, good shipyard and hardware and they are the strongest OnG player right now in Singapore. Given time, Marco Polo can bounce back quickily. But Batam plant is at full production capacity...

[Dosser]

First Q results out:

https://links.sgx.com/FileOpen/Penguin_1...eID=559680

Profit down, as boat sales from stock down. Inventories up, so looks like increased boat building, report increased charter activity.