Penguin Intl    Last:1.28    -0.02

Happy Feet: A new offshore marine play ??

There seem to be renewed interest in Penguin. Buyer is buying in 500 lots yesterday evening.

Will the interest continue on monday?

 

anyone attend the AGM ?

Any expert to advise on the potential of this counter ?

Thank. gd day.

 

Cheap stock with high dividend given... I believe big boys will play rotation on this share......Better buy in early because Asean and US market is steady and has reached the bottom line......Most likely, this "Flying Penguin" will hit $0.20 soon this week.......As chinese cantonese said " soi zhow kok how mold theng tat"  so better aboard the boat before there's late..............Singapore market will "cheong " this week.......Good luck for those vested ! Happy trading ! Hope all of you, can make kopi money $$$$$ with this stock.

 

Big vol. today, with big buys.  May move the next 2 days.  Watch out guys. Vested @ .18c

 

Wow...16 cents now...happy feet????

 

FY07 results already out.

seem to be quite a good year. anyone has comments on this?

Victorian?

 

It seems that the interest for penguin is back and waiting for a rebound to 0.28.

Waiting patiently....

Any updates?

 

Penguin Cruising Ahead with Business Expansion

? Penguin expands offshore business with delivery of new AHTS, ?Pelican Quest?, and plans to acquire more AHTS

? Year-to-date shipbuilding contracts up more than five -fold to US$69 million, compared to the whole of FY06

? Group remains committed to shipyard spin-off

Singapore, 28 November 2007 ? Penguin Boat International Limited (?Penguin? or the ?Group?), through its wholly owned subsidiaries, has taken delivery of a new anchor handling towing and supply vessel (?AHTS?) and secured additional shipbuilding contracts worth an estimated US$32 million, as the Group continues to expand its offshore and marine businesses.

New AHTS ?Pelican Quest?

Earlier this month, Pelican Offshore Services Pte. Ltd. (?Pelican?), took delivery of ts second AHTS, ?Pelican Quest?, a 55-metre, 5,000 BHP AHTS with a bollard pull of 65 tons. The vessel will be funded by internal resources and bank borrowings.

The ?Pelican Quest? is built to ?Fire Fighting Class 1? specifications for external fire fighting, and is equipped for towing and anchor handling duties, as well as transportation of materials, equipment, fuel, water, bulk cement and liquid mud.

This is the second AHTS in Pelican?s fleet, the first being a similar sized AHTS, ?Pelican 28?, which has been on a long-term time charter in Vietnam for the past year, supporting offshore oil and gas production operations.

Similarly, the ?Pelican Quest? is slated for a long-term time charter with an oil company in the region.

In addition to the two AHTS, Pelican also owns and operates six high-speed aluminium crewboats, all of which are on charter to oil companies and offshore contractors in the region.

?Pelican is an experienced owner-operator of offshore support vessels with in-house expertise and experience to manage all kinds of vessels. This AHTS acquisition is a logical step forwards in the expansion and refleeting of Pelican.?

Mr. Heng Kheng Seng, Penguin's Founder and Executive Chairman

Pelican is currently in active discussions to acquire more AHTS. The offshore chartering arm of Penguin is re-structuring its fleet from purely crewboats to include AHTS and other offshore support vessels.

US$32 million Worth of New Shipbuilding Contracts

In recent months, Penguin Shipyard International Pte. Ltd. (?PSI?) has signed contracts to build two offshore crewboats, worth around US$7 million in total, and two offshore Safety Standby Rescue Vessels, worth about US$25 million in total.

The latest orders put PSI on a firm footing for its eventual spin-off from the integrated marine and offshore services group.

As previously announced, Penguin intends to spin off PSI to realize the shipyard?s value for its shareholders and streamline its offshore and its integrated marine group. The Group?s management is currently evaluating various spin off options for PSI.

In the meantime, Penguin?s shipbuilding business remains on course for another record year as the Group?s year-to-date orders swell to US$69 million, compared to US$12 million for the whole of FY06.

The pair of 36-metre aluminium crewboats, scheduled for delivery between the second half of 2008 and first half 2009, were ordered by a repeat customer, Abeer Marine Services Ltd., which had earlier placed an order for two crewboats of the same design.

Each crewboat will be equipped with 4,050 BHP heavy duty engines, a bow thruster for improved maneuverability and fire fighting features; and carry 50 passengers and 70 tons of rear deck cargo.

In addition, the Abu Dhabi National Oil Company (?ADNOC?) has contracted PSI to build two units of 47-metre steel Safety Standby Rescue Vessels (?SSRV?).

Each of the two SSRV will be equipped with joystick for position-keeping, Fire Fighting Class 1 (?FiFi 1?) equipment and 4800-BHP engines to achieve speeds of over 16 knots.

With a contract price of about US$12.5 million each, the SSRV sets a new record for the Group in offshore shipbuilding, topping the previous benchmark set by the same client for three steel Fast Supply Intervention Vessels (?FSIV?) worth over US$7 million each. Delivery of the first unit is scheduled for the second quarter of 2010.

Although the shipbuilding contracts are in US dollars, the currency exposure has been hedged. Penguin does not engage in speculative currency trading.

The combined ADNOC orders so far ? worth a total of US$48 million ? represent a strong affirmation of Penguin?s Middle East expansion strategy.

On this front, Penguin's Middle East joint venture, Penguin Marine Boat Services LLC, is set to gain more ground in the region after being invited to participate in several government tenders.

The Group has already mobilised four vessels to the Middle East to fulfill the rising demand and plans to deploy more vessels there in coming months.

"Our ongoing fleet renewal program is proceeding as planned. We have sold a significant number of ferries and we are now looking at re-tonnaging our fleet."

Mr. Heng Kheng Seng

Re-tonnaging will involve not only the Group's ferries but incorporate a mix of offshore and marine vessels.

 

Time to load up and park my money here.

 

 

 

 

Yaa...Thanks. It does not have a strong base. Once the 0.275 and 0.28 are cleared, it will be all the way down.

That's why they have this CD to sustain the price.

 

trade carefully , its TA does'nt look good now ...

 

Cheap stock with high dividend...

seems a good bargain to me

 

Reminded me of Singtel, (Star hub and M1) which is a regional biggest telecom player fully support supported by big names...This one does'nt sound good, like very penny stocks it was.. 

Penguin    Last:0.28   Vol:12357k    -0.02 as

STI is also down...Straits Times Index    Last:3642.64    -105.34

 

Tks for taking the time to answer my question.  They also mention that they want some capital reduction.  Why would they want to have capital reduction.  I thought more capital is better for a company???

 

I think they decide not to break up the diff business due to the change of sesdaq board but price should hold around this level due to the high div declared ( close to 10% yield).

 

Can someone out there advise me what does demerger means and the message in their latest announcement?  Will there be any implications to the share price?  Thanks alot!

 

2.5c??? at todays level is almost 8%?... so good?.. sure or not ah...

 

THE GOOD NEWS AND THE NOT SO GOOD NEWS.

1. DEFERMENT OF PROPOSED DEMERGER 2. DECLARATION OF SPECIAL INTERIM DIVIDEND AND NOTICE OF BOOKS CLOSURE

Description

Penguin Boat International Limited (?PBIL? or the ?Company?) would like to refer to the announcement dated 26 May 2007, entitled ?The Proposed Demerger of PSI from PBIL Group by way of a proposed distribution in specie to shareholders? where the Company announced the proposed demerger of its shipbuilding business under its wholly-owned subsidiary, Penguin Shipyard International Pte Ltd (?PSI? and together with its subsidiaries ?PSI Group?) from the Company (the ?Demerger?) by way of a dividend in specie and the eventual listing of PSI on the SGX-ST Sesdaq by way of an introduction. The Board of Directors of PBIL (?Board?) wishes to announce that in view of the proposed changes to SGX Sesdaq i.e. its proposed transformation into a new sponsor supervised board (?New Board?), it is not possible for the Company to carry out the proposed Demerger by way of a dividend in specie and utilize its Section 44A tax credits before its expiry on 31 December 2007 as described in the announcement of 26 May 2007. The Board will consider the proposed Demerger when the New Board is established and the rules and regulations established. Should the Company decide to proceed with the proposed Demerger, the proposed Demerger may be carried out by way of a capital reduction exercise. The Company will make further announcement(s) relating to the proposed Demerger, as appropriate, in due course. In the circumstances, the Board therefore declares a special interim cash dividend of 2.5 cents per ordinary share, less Singapore income tax of 18%, for the financial year ending 31 December 2007, payable on 28 November 2007 to shareholders who are on the Register of Members of the Company on 15 November 2007. Notice of Books Closure Date Notice is hereby given that the Share Transfer Books and Register of Members of the Company will be closed on 16 November 2007 for the preparation of the dividend warrants. Duly completed transfer received by the Company?s Share Transfer Agent, Boardroom Corporate & Advisory Services Pte. Ltd, 3 Church Street #08-01, Samsung Hub, Singapore 049483, up to the close of business at 5.00 pm on 15 November 2007 will be registered before shareholders? entitlements to the dividend are determined. By Order of the Board Yong Chor Ken Alex Managing Director 19 October 2007

 

looks like penguin freezed at .29 degree celcius...bbs migrated to other counters....will hv to wait for tomorow to see if its temperature will rise again...

 

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