(17-04-2015, 06:33 AM)xlandjy Wrote: [ -> ] (16-04-2015, 02:53 PM)CityFarmer Wrote: [ -> ]I do see the "popularity" of this thread and the discussion.
A reminder, focus on company topics, rather on any individual. So far so good, and this post serves as a preventive measure, especially with new members.
Thank you
Regards
Moderator
From the AR, one will note that the company lost almost more than 1 mil in forex in previous year and continued to lose close to 3 mil last year. These are very substantial loss in view of the small size of the company.
Why the company failed to learn their lesson from the loss in previous years? Is the CFO still there after the loss of such huge amount over a period of 2 years? Have they stopped the bleed this FY?
All the hard work in expanding the yard and building boats went into the drain because of forex mishandling. Anyone held accountable?
This is why I am very unhappy with the lackadaisical attitude of the management as they faced to address it in details in their message. If the trend persist, it will be no surprise they suddenly by the end of this FY, they disclose that they lost 5 mil in forex.
To the management, stop the useless fancy slogans on your AR... fancy words do not bring food to the table .... handle the company with care and stop the bleeding.
Xlandjy, why not send an email to them on this matter...frankly i hv sent emails to cos on matters that i strongly feel about n in some casesdo get replies from them n as for those that do not reply at least i know it hasbeen brought to their attention.
(17-04-2015, 06:33 AM)xlandjy Wrote: [ -> ]From the AR, one will note that the company lost almost more than 1 mil in forex in previous year and continued to lose close to 3 mil last year. These are very substantial loss in view of the small size of the company.
Why the company failed to learn their lesson from the loss in previous years? Is the CFO still there after the loss of such huge amount over a period of 2 years? Have they stopped the bleed this FY?
All the hard work in expanding the yard and building boats went into the drain because of forex mishandling. Anyone held accountable?
This is why I am very unhappy with the lackadaisical attitude of the management as they faced to address it in details in their message. If the trend persist, it will be no surprise they suddenly by the end of this FY, they disclose that they lost 5 mil in forex.
To the management, stop the useless fancy slogans on your AR... fancy words do not bring food to the table .... handle the company with care and stop the bleeding.
I would like to link this to SIA example:
https://sg.finance.yahoo.com/news/massiv...00461.html
Loss in forex don't necessary mean "mishandling" especially for a company with functional currency in USD and report in SGD.
The Penguin seems to be tanking...
anyone know of any adverse news?
(20-04-2015, 02:55 PM)Sampling Wrote: [ -> ]The Penguin seems to be tanking...
anyone know of any adverse news?
No news but just probably reacting likewise as the whole market today. Just some bulk selling, shouldnt worry too much unless there is a change in fundamentals / news.
(20-04-2015, 02:55 PM)Sampling Wrote: [ -> ]The Penguin seems to be tanking...
anyone know of any adverse news?
My friend, you are watching too closely! Don't get too uptight with daily movement. I would like to share a quote from Goh Eng Seow in his book Small Change. He says watching the stock price daily is like watching grass grow.
I always have a view that stock searching should be bottom-up, while analyzing stock should be top-down. There are excellence analysis by dissecting the accounting details. IMO, starting from overall business model, will give you a holistic view, and focus only on critical accounting details. As examples, thin margin of a highly scale-able trading business with minimum fixed asset, might not be a bad thing. Valuing a service-based company with asset value, might mislead you.
I am following the approach, with simplicity in presentation. I have refined the previous draft, which included various concerns in this thread. Those are highlighted in bold italic for ease of reading. It is the first version. It will be updated on regularly basis, likely upon quarterly report.
All comments are welcomed
(vested)
Hi fellow vb members, I will be heading to agm tomorrow. If anyone has questions to ask mgmt, please post them here or PM me. I'll do my best to ask within reasonable timeframe given.
Offer closes 1030am tomorrow [emoji1] cos agm at 11 lah!
Sent from my D5503 using Tapatalk
Yes, I would like to know the percentage of boats they have sold to non-oil related customers in the last three years, thanks.
Why don't just send an email to the IR? If IR is unable/unwilling to respond, then nothing much the mgmt will share during AGM. There will probably tell you that for such specific questions, kindly write to our IR sort of that.
It is very silly for management to direct investors to email their enquiries to IR, this will look bad on the management as they would appear evasive. Anyway, it is so much better to hear directly from the management. Not only you get words, you get facial expressions and tone where you can make your own judgement call on the quality of answers.
For those who managed to attend the AGM, do share some of the Q&A. A lot people here will be appreciative.