Penguin International

[valuebuddies]

Just to add on or reinforce below points from AGM.

1. James has emphasized this a few times..Penguin is facing headwinds, so investors expectations must be tempered. I think we will see a weaker Q1 or Q2 results.

2. As to why James did not increase his holding...someone asked him during the site visit...he diplomatically answered he wanted to but his wife wanted to buy other companies shares...ha

Overall, Penguin shareholders are really serious investors. They asked some tough questions...management really spent quite a bit of time patiently answering qtns.

I can see the link between point 1 and point 2