Backed by a high volume transacted of 5,127 lots and active buying, Penguin closed up by another $0.006, or 3.5%, at $0.177 today (24Apr14). It is indeed great to see Mr Market willing to do his trick and work on a very fine company!
(24-04-2014, 09:41 PM)dydx Wrote: [ -> ]Backed by a high volume transacted of 5,127 lots and active buying, Penguin closed up by another $0.006, or 3.5%, at $0.177 today (24Apr14). It is indeed great to see Mr Market willing to do his trick and work on a very fine company!
Yes, great indeed for shareholders. The only regret is not able to accumulate fast enough before Mr. Market back to its sense.
I have to wait till the next emotional moment of Mr. Market.
(vested)
Since the AGM on 23Apr, Penguin's share price has hit a new high of $0.179 momentarily on 25Apr and continues to hold up high at the $0.177/0.178 level in the last 3 market days in spite of falling volume transacted. This seems to indicate that the buyers after the AGM who pushed up the share price and paid the current historically high prices may well belong to longer-term investors who still see and believe that Penguin remains a good value buy even at current prices.
I am eagerly waiting for the Q1 (ended 31Mar14) results which should be released within the next 2 weeks.
I attended the recent AGM. Citing confidential information and extreme competitiveness in the industry, the CEO was unable to share much of the company's forward business forecast, etc. But things to note...the shipyard is full of activities, capacity is increasing both in singapore and batam, etc...so i guess it's safe to assume that penguin is growing from strength to strength. No commitment was given to increase dividend payout as of now, however Buffet lunch was in abundance...
i still have faith in their business execution strategy, so lets continue to watch.
Vested.
(28-04-2014, 01:41 PM)mslee888 Wrote: [ -> ]I attended the recent AGM. Citing confidential information and extreme competitiveness in the industry, the CEO was unable to share much of the company's forward business forecast, etc. But things to note...the shipyard is full of activities, capacity is increasing both in singapore and batam, etc...so i guess it's safe to assume that penguin is growing from strength to strength. No commitment was given to increase dividend payout as of now, however Buffet lunch was in abundance...
i still have faith in their business execution strategy, so lets continue to watch.
Vested.
i heard it was a very small AGM with few people.
Penguin yesterday closed 18.2cts on a modest volume of 4.5M shares traded. Touched a high of 18.3cts.
Keeping a close watch on upcoming 1st Qtr results.
(28-04-2014, 01:41 PM)mslee888 Wrote: [ -> ]I attended the recent AGM. Citing confidential information and extreme competitiveness in the industry, the CEO was unable to share much of the company's forward business forecast, etc. But things to note...the shipyard is full of activities, capacity is increasing both in singapore and batam, etc...so i guess it's safe to assume that penguin is growing from strength to strength. No commitment was given to increase dividend payout as of now, however Buffet lunch was in abundance...
i still have faith in their business execution strategy, so lets continue to watch.
Vested.
I have attended the meeting too, and as you said, the board is not able to disclose sensitive information for fear of competiton, and certainly the board cannot make forward projection. However, if you pay close attention to what they said (eg: we are in a sweet spot), you will know that they are pretty confident about the future. One key point to note: the expansion plan is ongoing as planned, the capax is not significant but the capacity is or will be expanded quite significantly IMO. With the high cash level, I am looking forward to them raising the dividends payout this year. I walked away from the meeting feeling both confident and comfortable holding on to my stake.
(30-04-2014, 10:49 AM)Ben Wrote: [ -> ] (28-04-2014, 01:41 PM)mslee888 Wrote: [ -> ]I attended the recent AGM. Citing confidential information and extreme competitiveness in the industry, the CEO was unable to share much of the company's forward business forecast, etc. But things to note...the shipyard is full of activities, capacity is increasing both in singapore and batam, etc...so i guess it's safe to assume that penguin is growing from strength to strength. No commitment was given to increase dividend payout as of now, however Buffet lunch was in abundance...
i still have faith in their business execution strategy, so lets continue to watch.
Vested.
I have attended the meeting too, and as you said, the board is not able to disclose sensitive information for fear of competiton, and certainly the board cannot make forward projection. However, if you pay close attention to what they said (eg: we are in a sweet spot), you will know that they are pretty confident about the future. One key point to note: the expansion plan is ongoing as planned, the capax is not significant but the capacity is or will be expanded quite significantly IMO. With the high cash level, I am looking forward to them raising the dividends payout this year. I walked away from the meeting feeling both confident and comfortable holding on to my stake.
I didn't attend the meeting, due to other commitment. Thanks for the updates from both of you.
IMO, the company is indeed in a sweet spot, with its focused crewboat business. It is also a wise decision to move out of retail, and focus on corporate business.
It seems no other players providing the same service, except POSH. POSH is growing its offshore accommodation business.
I am feeling confident and comfortable holding on to my stake too. Thanks VB, which allowed me to know this valuable stock, and be vested
(vested)
Any target price for this gem from the fellow buddies here?
I bought at 8 cts, now think if when to run rd?
(30-04-2014, 11:20 AM)funman168 Wrote: [ -> ]Any target price for this gem from the fellow buddies here?
I bought at 8 cts, now think if when to run rd?
It is a growth stock, which means no "run road", as long as the story remains intact. I don't want to miss a multibagger.