Mr. Heng Kheng Seng sets up sole
proprietorship to operate two wooden
ferries between Singapore and its
Southern Islands for an Oil Major
1976
Penguin Boat Services Pte. Ltd. is formed
to own and operate a fleet of eight ferries
1993
Company acquires 12,235-square metre
shipyard at Tuas Crescent to meet the repair and
maintenance needs of a growing fleet
1995
Penguin Shipyard builds first aluminium
vessel
1997
Pelican Offshore Services is set up to own
and operate crewboats for the offshore oil
and gas industry
Name of holding company changed to
Penguin International and company
goes public on the Singapore Stock
Exchange. Mr. Heng is appointed Executive
Chairman and Managing Director
1998
New 11,192-square metre shipyard and
corporate headquarters at Tuas Basin Link
commissioned. Facilities include a 500
metric ton straddle carrier, Asia’s largest
at the time
2000
Penguin Shipyard builds first Fast Supply
Intervention Vessel (FSIV)
2001
Company posts record revenue of S$71
million
2004
Mr. Alex Yong assumes post of Managing
Director as part of Mr. Heng’s succession
planning and corporate restructuring
programme
2005
S$10 million worth of Penguin warrants
converted into shares
2006
Penguin issues S$30 million convertible bond
2007
Pelican lands US$23 million contract to
build three steel Fast Supply Intervention
Vessels at Penguin Shipyard for a Middle
East client
