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But you dun accept, later they delist and you cannot trade, worse.
Noob79 ( Date: 20-Feb-2021 11:23) Posted:
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I think there is something seriously wrong with ourm stock market!!!
ahberngh ( Date: 24-Feb-2021 19:00) Posted:
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IFA recommendation " not faie but reasonable. Recommend to accept the offer" .
How can it be reasonable if it is not fair wtf.
Absolutely will not accept.
How can it be reasonable if it is not fair wtf.
Absolutely will not accept.
Any update by Penguin' s IFA if the offer is fair? Haven' t seen any update on this. Penguin' s announcement on 29/1/2021 stated that the IFA will release their advisory to the IDs after 2 weeks.
I will never accept the offer...this penguin has stock consolidated 3 into 1 before...and they only offer $0.65...which is about only $0.22... KNS last time penguin IPO listing in SGX is also at this price...
Recently Penguin also take over Swissco...
Their business model consist of
1) Ferry (tekong /batam)
2) chartering
3) ship building and repair
4) offshore oil and gas exploring
I believe the ship yard in batam will be doing fine once Tuas mega port is ready too...the price they offer is extremely low exactly the IPO price when penguin listed...if $1 then I will consider...
Penguin International posts 16% drop in net profit for H2 FY20
HIGH-SPEED craft builder Penguin International' s net profit for the six months ended Dec 31, 2020 fell 16 per cent year-on-year to S$9.3 million.
Revenue edged up 1.3 per cent to S$69.28 million due to an increase in the number of stock vessels sold, while earnings per share fell to 4.22 Singapore cents from 5.02 Singapore cents.
Penguin said that its core shipbuilding and crewboat chartering businesses have been hit by the pandemic and depressed oil prices. " Demand for new vessels has weakened, and crewboat charter rates and utilisation rates have fallen year-on-year," it added.
For the 12 months ended Dec 31, 2020, net profit was 32 per cent lower at S$13.21 million, while revenue was around 12 per cent lower at S$119.42 million.
No dividend was recommended for the period under review. For the corresponding period last year, a dividend of 1.75 Singapore cents per share was paid out.
Last month, a consortium which includes Penguin' s executive chairman Jeffrey Hing, managing director James Tham and a Dymon Asia fund launched an offer to take Penguin private at S$0.65 per share.
At S$0.65, the offer price represents a premium of 30 per cent over the last transacted price of S$0.50 per share on Dec 18, 2020 before Penguin flagged a possible transaction involving its shares.
It also represents a premium of 35.7 per cent, 42.5 per cent, 44.4 per cent and 17.5 per cent over the volume-weighted average price per share for the one-month, three-month, six-month and 12-month periods, respectively.
The offer is conditional upon the offeror and its concert parties securing enough acceptances to lift their collective stake past the 50 per cent threshold. The offerer plans to delist the stock if it acquires control of over 90 per cent of Penguin.
According to a filing to the Singapore Exchange on Thursday, the percentage of shares in Penguin owned, controlled or agreed to be acquired by the offerer and concert parties was 33.7 per cent.
Penguin International posts 16% drop in net profit for H2 FY20
HIGH-SPEED craft builder Penguin International' s net profit for the six months ended Dec 31, 2020 fell 16 per cent year-on-year to S$9.3 million.
Revenue edged up 1.3 per cent to S$69.28 million due to an increase in the number of stock vessels sold, while earnings per share fell to 4.22 Singapore cents from 5.02 Singapore cents.
Penguin said that its core shipbuilding and crewboat chartering businesses have been hit by the pandemic and depressed oil prices. " Demand for new vessels has weakened, and crewboat charter rates and utilisation rates have fallen year-on-year," it added.
For the 12 months ended Dec 31, 2020, net profit was 32 per cent lower at S$13.21 million, while revenue was around 12 per cent lower at S$119.42 million.
No dividend was recommended for the period under review. For the corresponding period last year, a dividend of 1.75 Singapore cents per share was paid out.
Last month, a consortium which includes Penguin' s executive chairman Jeffrey Hing, managing director James Tham and a Dymon Asia fund launched an offer to take Penguin private at S$0.65 per share.
At S$0.65, the offer price represents a premium of 30 per cent over the last transacted price of S$0.50 per share on Dec 18, 2020 before Penguin flagged a possible transaction involving its shares.
It also represents a premium of 35.7 per cent, 42.5 per cent, 44.4 per cent and 17.5 per cent over the volume-weighted average price per share for the one-month, three-month, six-month and 12-month periods, respectively.
The offer is conditional upon the offeror and its concert parties securing enough acceptances to lift their collective stake past the 50 per cent threshold. The offerer plans to delist the stock if it acquires control of over 90 per cent of Penguin.
According to a filing to the Singapore Exchange on Thursday, the percentage of shares in Penguin owned, controlled or agreed to be acquired by the offerer and concert parties was 33.7 per cent.
Any already make decision?
investshare ( Date: 11-Feb-2021 19:51) Posted:
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Received the letter.
Should accept?
Should accept?
Penguin FY 2020 results to be released on 14/2/2021.
https://links.sgx.com/FileOpen/PIL-%20Da...eID=647550
https://links.sgx.com/FileOpen/PIL-%20Da...eID=647550
The offerors crossed 30% threshold, so now they have to do a MGO, Mandatory General Offer.
Hope the IFA will ask them to increase the offer.
Yup that will be good. Hoping hoping...
But I think it is because they might have crossed the 30% threshold. To up the offer, I think they will wait for the IFA' s advice to the independent directors....
But I think it is because they might have crossed the 30% threshold. To up the offer, I think they will wait for the IFA' s advice to the independent directors....
Maybe up the offer liao...now gana halted
Hope that the Next halt is Singapore Medical...
Hope that the Next halt is Singapore Medical...
That is not good if it a known low ball offer.... They pay the IFA for the independent directors, it is a financial expense for Penguin.
If the offerers ask IFA privately, it is their expense....
If the offerers ask IFA privately, it is their expense....
Invest1 ( Date: 31-Jan-2021 10:47) Posted:
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It is totally dependent on offerer...if too low and not successful, they still need to pay the IFA for their service as they have advise them already. Just that offerer just don' t listen and want to pay the lowest price.
Kandee ( Date: 31-Jan-2021 10:32) Posted:
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Quite common to see the IFA for previous takeovers that agree with the offeror' s proposed price.
However the IFA are supposed to be reputable independent advisory companies that are regulated by MAS (I believe), thus our expectation is that they would give a fair and impartial recommendation. It is the same as auditors, the company appoints the external audit firm.
I won' t be surprised if the offerors had the opinion of another IFA before they came out with the proposed price. It would not look good on them if the IFA tell them that the price is too low.
In my opinion, the offer price is too low based on book value, especially the high cash on hand and the assets for sale. Hoping that the IFA will recommend a higher offer price.
However the IFA are supposed to be reputable independent advisory companies that are regulated by MAS (I believe), thus our expectation is that they would give a fair and impartial recommendation. It is the same as auditors, the company appoints the external audit firm.
I won' t be surprised if the offerors had the opinion of another IFA before they came out with the proposed price. It would not look good on them if the IFA tell them that the price is too low.
In my opinion, the offer price is too low based on book value, especially the high cash on hand and the assets for sale. Hoping that the IFA will recommend a higher offer price.
ysh2006 ( Date: 31-Jan-2021 07:44) Posted:
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Never before those people will recommend price ...they will said fair and square.The only way all retailers don't sell or a big BB come in and send letter to company to ask for price raise (Like Sunningdale Quarz)
Kandee ( Date: 30-Jan-2021 11:59) Posted:
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Alalmak i sold off liao knn
Kandee ( Date: 30-Jan-2021 11:59) Posted:
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Penguin appointed Prime Partners as their IFA. Await their review on the offer price.
Hope they will recommend that the price on the lower end and ask the offerers to revise their offer price higher...
Hope they will recommend that the price on the lower end and ask the offerers to revise their offer price higher...
Kandee ( Date: 23-Jan-2021 21:04) Posted:
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Need to wait for IFA take on the offer price...