Do not conform to the pattern of this world but be transformed by the renewing of your mind. Then you will be able to test and approve what God’s will is—his good, pleasing, and perfect will.
Romans 12:2-4 NIV
MARCO POLO MARINE
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Listed on the Mainboard of the SGX-ST since 2007, Marco Polo Marine Ltd is a reputable regional integrated marine logistics company which principally engages in shipping and shipyard operations.
The Group’s shipping business relates to the chartering of Offshore Supply Vessels (“OSVs”) for deployment in regional waters, including the Gulf of Thailand, Malaysia, Indonesia, and Taiwan, as well as the chartering of tugboats and barges to customers, especially those which are engaged in the mining, commodities, construction, infrastructure, and land reclamation industries.
Under its chartering operations, the Group has diversified its activities beyond the oil and gas industry to include the support of offshore wind farm projects. The burgeoning offshore wind energy industry in Asia is at a nascent stage where structures are being installed, which presents tremendous opportunities for the Group whose fleet can support the development of these projects.
The Group’s shipyard business relates to shipbuilding and providing ship maintenance, repair, outfitting, and conversion services carried out through its shipyard located in Batam, Indonesia. Occupying a total land area of approximately 34 hectares with a seafront of approximately 650 meters, the modern shipyard also houses three dry docks, boosting the Group’s technical capabilities and service offerings to undertake projects involving mid-sized and sophisticated vessels.
For more information, please refer to our corporate website: www.marcopolomarine.com.sg
FY2023 RESULTS ANNOUNCEMENT
EST 3 DEC 2023
COMMON FAQ
RESPONSES TO QUESTIONS RECEIVED FROM AGM 2020
RESPONSES TO QUESTIONS RECEIVED FROM AGM 2021
SGX 10 IN 10
Recent Developments
- 21 Jun 2024 Change - Announcement of Appointment::Appointment of Director
- 15 May 2024 General Announcement::1HFY2024 Results Briefing Presentation
- 13 May 2024 General Announcement::Media Release: Marco Polo Marine Posts Strong 1HFY2024 Results
- 13 May 2024 Financial Statements and Related Announcement::Half Yearly Results
- 17 Apr 2024 General Announcement::Media Release: Marco Polo Marine Schedules Delivery of CSOV for Early September
- 12 Apr 2024 Employee Stock Option/ Share Scheme::Grant of Options Pursuant to the Marco Polo Marine Ltd. Employee Share Option Scheme (2024)
- 01 Apr 2024 Change - Change in Corporate Information::CHANGE OF REGISTERED OFFICE ADDRESS
- 21 Mar 2024 General Announcement::Media Release: Marco Polo secures APAC CTV Framework with SGRE
- 19 Feb 2024 General Announcement::Minutes of Extraordinary General Meeting on 30 January 2024
- 19 Feb 2024 General Announcement::Minutes of Annual General Meeting held on 30 January 2024
- 08 Feb 2024 General Announcement::Marco Polo Marine Kicks Off 1QFY2024 With Robust Growth
- 01 Feb 2024 Cash Dividend/ Distribution::Mandatory
- 30 Jan 2024 REPL::Extraordinary/ Special General Meeting::Voluntary
- 30 Jan 2024 REPL::Annual General Meeting::Voluntary
- 29 Jan 2024 Response to SGX Queries::
- 15 Jan 2024 Extraordinary/ Special General Meeting::Voluntary
- 15 Jan 2024 Annual Reports and Related Documents::
- 15 Jan 2024 Annual Reports and Related Documents::
- 15 Jan 2024 Annual General Meeting::Voluntary
- 12 Jan 2024 Employee Stock Option/ Share Scheme::Approval In-Principle from the SGX-ST for the Listing and Quotation of Shares
- 02 Jan 2024 Change - Announcement of Appointment::APPOINTMENT OF JOINT COMPANY SECRETARY
- 04 Dec 2023 Disclosure of Interest/ Changes in Interest of Director/ Chief Executive Officer::Disclosure of Interest / Changes in Interest
- 04 Dec 2023 General Announcement::FY2023 Results Briefing Presentation
- 27 Nov 2023 General Announcement::Media Release: Marco Polo Marine's FY2023 EBITDA Increased 79% to $43.3m
- 27 Nov 2023 Financial Statements and Related Announcement::Full Yearly Results
- 20 Nov 2023 General Announcement::Media Release: Marco Polo signs CSOV Framework Agreement with Vestas
- 10 Oct 2023 Change - Change in Corporate Information::Incorporation of a Joint Venture Company
- 05 Oct 2023 Disclosure of Interest/ Changes in Interest of Director/ Chief Executive Officer::Disclosure of Interest / Changes in Interest
- 28 Sep 2023 Disclosure of Interest/ Changes in Interest of Director/ Chief Executive Officer::Disclosure of Interest / Changes in Interest
- 04 Sep 2023 General Announcement::Media Release: Marco Polo Marine plans new dry dock construction
- 23 Aug 2023 Disclosure of Interest/ Changes in Interest of Director/ Chief Executive Officer::Disclosure of Interest / Changes in Interest
- 17 Aug 2023 Disclosure of Interest/ Changes in Interest of Director/ Chief Executive Officer::Disclosure of Interest / Change in Interest
- 17 Aug 2023 Disclosure of Interest/ Changes in Interest of Director/ Chief Executive Officer::Disclosure of Interest / Change in Interest
- 17 Aug 2023 Disclosure of Interest/ Changes in Interest of Director/ Chief Executive Officer::Disclosure of Interest / Change in Interest
- 17 Aug 2023 Employee Stock Option/ Share Scheme::Expiry of Share Options Pursuant to Marco Polo Marine Employee Share Option Scheme
- 17 Aug 2023 General Announcement::Marco Polo Marine Maintains Strong Growth Momentum
- 24 Jul 2023 Disclosure of Interest/ Changes in Interest of Director/ Chief Executive Officer::Disclosure of Interest / Changes in Interest
- 08 Jun 2023 Disclosure of Interest/ Changes in Interest of Substantial Shareholder(s)/ Unitholder(s)::Disclosure of Interest/ Changes in Interest
- 08 Jun 2023 Disclosure of Interest/ Changes in Interest of Substantial Shareholder(s)/ Unitholder(s)::Disclosure of Interest / Changes in Interest
- 30 May 2023 Disclosure of Interest/ Changes in Interest of Director/ Chief Executive Officer::Disclosure of Interest / Changes in Interest
- 16 May 2023 General Announcement::1HFY2023 Results Briefing Presentation
- 12 May 2023 Disclosure of Interest/ Changes in Interest of Director/ Chief Executive Officer::Disclosure of Interest/ Changes in Interest
- 11 May 2023 General Announcement::Media Release: Marco Polo Marine’s EBITDA More Than Doubles
- 11 May 2023 Financial Statements and Related Announcement::Half Yearly Results
- 11 May 2023 Change – Change in Corporate Information::Establishment of Branch Office
- 18 Apr 2023 General Announcement::Media Release: Marco Polo Marine and Amogy to Develop Zero-Emission Solutions for Vessels
- 22 Feb 2023 Annual Reports and Related Documents::
- 15 Feb 2023 General Announcement::Media Release: 1QFY2023 Business Update
- 14 Feb 2023 General Announcement::Minutes of Annual General Meeting held on 31 January 2023
- 31 Jan 2023 REPL::Annual General Meeting::Voluntary
- 30 Jan 2023 Equity Listing – Ordinary Shares::Allotment and Issuance of Shares Pursuant to the Exercise of Warrants
Investment Merits
- Attractive Valuation. Assets backed by hard assets, including cash and PPE. The Group owns a shipyard in Batam (occupying more than 34 ha of land area) and 14 OSVs, 2 MWVs and 10 tugboats and barges.
- Strong net cash position of S$50.2 million as of 31 Mar 2023.
- Turnaround efforts bear fruits as the Group turns EBITDA positive.
- Pivoting to renewables to increase utilization and boost profitability.
In The News
- Business Times: Brokers’ take: RHB raises Marco Polo Marine target on expectations of rising charter rates
- The Edge: Marco Polo Marine’s former executive chairman to purchase 121.8 mil shares in the company at 3.3 cents apiece
- Straits Times: Marco Polo Marine Q3 revenue up 140% on shipyard, ship chartering growth
- The Edge: RHB Contiune to ‘buy’ Marco Polo Marine as it ventures into renewable energy
- Business Times: Brokers’ take: RHB initiates ‘buy’ on Marco Polo Marine on forecast renewable energy turnaround
- The Edge: RHB initiates coverage of Marco Polo Marine with “buy” call and 4.1 cents target price
- The Edge: Marco Polo Marine to boost ship repair capacity by up to 20% with dry dock extension
- Business Times: Marco Polo Marine to acquire majority stake in PT BBR to strengthen foothold in Indonesia
- The Edge: Marco Polo Marine’s earnings triple to $5.95 million in 1HFY2021
Research
Stock Information
Price | Market Cap (SGDm) | Free Float % |
---|---|---|
0.0500 | 187.682 | 44.6% |
Key Financial Highlights
Key Highlights | 2020 | 2021 | 2022 |
---|---|---|---|
Revenue (SGDM) | 30.8 | 46.1 | 86.1 |
EBITDA | (1.9) | 10.0 | 24.2 |
Net Profit (SGDM) | (9.2) | 14.8 | 22.0 |
Adjusted Net Profit | (8.9) | 3.0 | 13.8 |
Net D/E | -13.6% | -14.0% | -33.2% |
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