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Penguin International
22-04-2019, 03:29 PM.
Post: #1131
RE: Penguin International
(22-04-2019, 03:21 PM)luckystar Wrote: 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.

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22-04-2019, 04:19 PM.
Post: #1132
RE: Penguin International
(22-04-2019, 03:29 PM)dydx Wrote:
(22-04-2019, 03:21 PM)luckystar Wrote: 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.

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25-04-2019, 10:41 AM.
Post: #1133
RE: Penguin International
Anyone at the AGM? Appreciate if you could update us on what happened there. Thanks!
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25-04-2019, 03:07 PM.
Post: #1134
RE: Penguin International
(25-04-2019, 10:41 AM)Squirrel Wrote: 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.

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25-04-2019, 03:20 PM.
Post: #1135
RE: Penguin International
Thanks for the info. Could you elaborate on the $10m spent on the little island? Was that meant to be the 5th shipyard?
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25-04-2019, 11:50 PM.
Post: #1136
RE: Penguin International
(25-04-2019, 03:07 PM)xlandjy Wrote: 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?

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26-04-2019, 08:21 AM.
Post: #1137
RE: Penguin International
Looks like someone took notice. Philip Securities Research initiated coverage with TP of $0.61.

https://www.stocksbnb.com/reports/pengui...x-and-fly/
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Please do your own due diligence. Any reliance on my posts is at your own risk.

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26-04-2019, 10:19 AM.
Post: #1138
RE: Penguin International
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.

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26-04-2019, 04:31 PM.
Post: #1139
RE: Penguin International
(25-04-2019, 03:07 PM)xlandjy Wrote:
(25-04-2019, 10:41 AM)Squirrel Wrote: 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...

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16-05-2019, 06:13 AM.
Post: #1140
RE: Penguin International
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.

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