Penguin International

[pencilin]

After spending a few minutes of self-reflection, I decide to change my image as a freeloader

https://www.dividends.sg/view/BTM

From the dividend history, it doesn't show the company has generous dividend policy
Owning such cyclical company is already risky. A good dividend policy can reduce it. But I don't see it. Sorry

[Squirrel]

Slander - a false spoken statement about someone that damages their reputation, or the making of such a statement

I stand by my factual and true observations of your past activities on this forum. Now you are the one slandering me.

I shall leave the answering to the other gentlemen on this forum. I for one am not and can't be bothered to feed you information if you yourself can't be bothered to share any. You can see my reaction to other detractors of what I am invested in is different. Yes, you are special my friend.

[holymage]

You people are really nice. Bothering to reply to a freeloader who in his glorious 1 month of participation in the forum has only bashed people's investment thesis without substantiation, raised questions without a hint of research and contributed zero inputs/insights/analysis in his posts.

What can I say, really great and accepting contributors here who, on finding leeches stuck on their skin would gladly leave them to suck on the blood to their fill. And no pun or sarcasm intended here, I really find the response so far amazingly patient and in the spirit of sharing.

Salutes.

Thank you Squirrel.

[holymage]

Shipbuilding is generally looked upon as a cyclical business, but when a shipbuilder has a whole range of its own models that serve a multitude of end customers/industries, there could well be an overall stability in the business.

Revenue
2014 - $165 million
2015 - $120 million
2016 - $33 million

A quick check - Penguin experienced revenue reduction of 80% from 2014 peak to 2016 trough. How can there be stability in the business. This company is highly cyclical. And I have yet to check the frequency of the shipbuilding cycle. But from what I heard, shipbuilding is typically 7 years of downturn and 1-2 years of upswing.

Then again, money can be made from cyclical companies, whether it is through tangible assets or free cash flow valuation.

[chialc88]

@Squirrel,
When a door is closed in front of you, it means that there is another door to be open.

I like to meditate.
One major benefit of meditation (other than health) is to be mindful of my emotion.

I am able to read my emotion and watch it develop inside my mind (and see how it affect my body).

It's quite cool.

Try it if you could.

Ok, calling any value buddies vested in Penguin.
Try to answer my questions, just for fun:
1. Why do customer choose Penguin over Chinese or Korean builders?
2. What moat does Penguin has?
3. How many % of your portfolio would you invest in Penguin? So you can sleep soundly

Dedicated for the young one:

[weijian]

After spending a few minutes of self-reflection, I decide to change my image as a freeloader

https://www.dividends.sg/view/BTM

From the dividend history, it doesn't show the company has generous dividend policy
Owning such cyclical company is already risky. A good dividend policy can reduce it. But I don't see it. Sorry

Hi pencilin,
VB.com posting guidelines are here: https://www.valuebuddies.com/thread-1844.html

As some folks have mentioned, you look capable to be able to produce better quality posts than the ones that have been around. Let's do that.

This is the 2nd time that you have used strong language, and it is not welcomed in VB.com. My first reminder to you was 3rd Sept and this 2nd instance is barely few days later. This will be the final reminder before Moderator takes action.

Moderator

[chialc88]

I don't know about you but when I saw the questions raised by OP,
it's very relevant.

I suppose, if you're not even able to answer OP's questions (privately - if you prefers), then I don't think you should buy any stock.
Ok, I take back my word, you can still buy any stock, just know that you're speculating and not investing.

Let me recap OP's question which you must have an answer:
1. Mind to explain what exactly are MM products?
2. How those products function in a phone?
3. Who are the competitors?
4. Why are they better than their competitors?
5. Why do customer choose Penguin over Chinese or Korean builders?
6. What moat does Penguin has?
7. How many % of your portfolio would you invest in Penguin? So you can sleep soundly.

These question is so important that I think this particular OP is either very good in studying a (particular) book or he is a pro.

Enjoy:

[Squirrel]

I don't know about you but when I saw the questions raised by OP,
it's very relevant.

I suppose, if you're not even able to answer OP's questions (privately - if you prefers), then I don't think you should buy any stock.
Ok, I take back my word, you can still buy any stock, just know that you're speculating and not investing.

Let me recap OP's question which you must have an answer:
1. Mind to explain what exactly are MM products?
2. How those products function in a phone?
3. Who are the competitors?
4. Why are they better than their competitors?
5. Why do customer choose Penguin over Chinese or Korean builders?
6. What moat does Penguin has?
7. How many % of your portfolio would you invest in Penguin? So you can sleep soundly.

These question is so important that I think this particular OP is either very good in studying a (particular) book or he is a pro.

Enjoy:

Hi Chialc88

It’s an interesting take of yours that you think anyone who buys into MM and Penguin must have answers to these questions or else they shouldn’t be buying or they are purely speculating.

Since you are invested in both, you are in best place to answer them! Let’s hear it from chialcc88!

*applause*

[BlueKelah]

Been a few years but still IMHO Penguin is a small cap proxy for OnG sector which performance is basically affected by oil price. Oil price has had a big rebound from lows since Jan this year. It is no wonder that Penguin share price follows lah. Can analyse all aspects of the company and its business but in the end it will more or less track oil price.

I prefer CSE global as oil proxy small cap though as they are much better with div payout

[dydx]

dydx, thanks for the explanation

Mind to share?

1. Why do customer choose Penguin over Chinese or Korean builders?
2. What moat does Penguin has?

Penguin is not a typical aluminium boat manufacturer which builds based on technical specifications or drawings provided by customers or their appointed boat designers. Penguin has its own range of boat designs - which are upgraded regularly - being marketed under its own "Flex" brand, covering crew boats, fast ferries, security boats, and fire boats targetted a diversified group of customers/users. I am not aware of any Chinese or Korean aluminium boat builder which has a similar range of own boat designs and specialises in boats up to 50 meters in length.

Supported by its strong B/S and finances, Penguin now runs a strategically powerful build-for-stock programme on its own proven designs of crew boats and passenger ferries, and provides selective customers the options to charter the boats from the company. This strategy has allowed Penguin to become a volume builder able to achieve a low manufacturing cost for its boats and a strong competitive position in selling price, volume and market share, as well as a good profit, against its competition comprising bigger and smaller players.