Penguin International

[dydx]

Though Penguin has not allowed shareholders/investors to visit their Batam yard (held under 100% subsidiary PT. Kim Seah Shipyard Indonesia), close scrutiny via aerial Google Maps indicates a lot of activities, with 8 vessels under construction at the open space alone, and approx. 1100 motor cycles parked both outside (mostly opposite the road) and inside the yard...
https://www.google.com/maps/place/PT.+Ki...?entry=ttu
Google doesn't lies! Mind you, there are another 9 vessels on water presumably new vessels waiting for delivery or vessels waiting for repair, and we are not counting vessels placed inside the 2 covered factory buildings yet, which by their large area sizes should be able to accommodate up to another 10 vessels.

Review this interesting CNA feature (including the video at the end) on Penguin's sustaining journey and future-proofing the business...
https://www.channelnewsasia.com/brandstu...EqbGKY7Mo0

Lastly, watch this video (by U.S. KVH Industries, Inc. (Nasdaq: KVHI) which is engaged in mobile connectivity products) on an interview with Penguin's MD James Tham - who has a 5% interest in the Offeror..
https://vimeo.com/589393572
Remaining minority shareholders should ask themselves whether they can continue to expect or rely on Tham to protect or look after their interests.