My Cart 0
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
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
Recent Developments
- 20 Feb 2025 Disclosure of Interest/ Changes in Interest of Director/ Chief Executive Officer::Disclosure of Interest / Changes in Interest
- 19 Feb 2025 REPL::General Announcement::1QFY2025 Business Updates Presentation
- 19 Feb 2025 General Announcement::1QFY2025 Business Updates Presentation
- 14 Feb 2025 General Announcement::Minutes of Annual General Meeting held on 17 January 2025
- 14 Feb 2025 General Announcement::Media Release: Marco Polo Marine Expects CSOV to Start Contributing From 2HFY2025
- 11 Feb 2025 Disclosure of Interest/ Changes in Interest of Director/ Chief Executive Officer::Disclosure of Interest / Changes in Interest
- 05 Feb 2025 Disclosure of Interest/ Changes in Interest of Director/ Chief Executive Officer::Disclosure of Interest / Changes in Interest
- 23 Jan 2025 Cash Dividend/ Distribution::Mandatory
- 17 Jan 2025 REPL::Annual General Meeting::Voluntary
- 17 Jan 2025 General Announcement::Re-composition of Board Committees
- 17 Jan 2025 General Announcement::Responses to SIAS questions on Annual Report 2024
- 17 Jan 2025 Change - Announcement of Cessation::Retiring as Director of the Company
- 02 Jan 2025 Annual Reports and Related Documents::
- 02 Jan 2025 Financial Statements and Related Announcement::Discrepancies between unaudited and audited accounts
- 02 Jan 2025 Annual Reports and Related Documents::
- 02 Jan 2025 Annual General Meeting::Voluntary
- 31 Dec 2025 Change - Announcement of Appointment::Redesignation of Executive Director to Non-Executive Non-Independent Director
- 31 Dec 2025 Change - Announcement of Cessation::Resignation of Executive Director - Ms Lie Ly
- 05 Dec 2024 Disclosure of Interest/ Changes in Interest of Director/ Chief Executive Officer::Disclosure of Interest / Changes in Interest
- 03 Dec 2024 Disclosure of Interest/ Changes in Interest of Director/ Chief Executive Officer::Disclosure of Interest / Changes in Interest
- 03 Dec 2024 General Announcement::FY2024 Results Briefing Presentation
- 28 Nov 2024 General Announcement::Media Release: Marco Polo Marine Announces FY2024 Results and Prepares for CSOV Launch
- 28 Nov 2024 Financial Statements and Related Announcement::Full Yearly Results
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: Marco Polo Marine directors boost shareholding
- Business Times: Marco Polo Marine H2 net profit falls 41.5% to S$10.7 million on lower revenue
- SG Investors: Marco Polo Marine reports lower 2HFY2024 earnings of $10.7 mil, down 42% y-o-y
- SG Investors: Marco Polo Marine – NDR Highlights
- The Edge Singapore: Marco Polo Marine: Anchoring in diversification
Research
Stock Information
(as of 09 December 2024)
| Price | Market Cap (SGDm) | Enterprise Value (SGDm) |
|---|---|---|
| SGD 0.0540 | 202.897 | 170.000 |
Key Financial Highlights
| Key Highlights | TTM (SGD) |
|---|---|
| Revenue | 132.75M |
| Net Income Available to Common | 28.35M |
| Profit Margin | 22.11% |
| Return on Assets | 8.60% |
| Return on Equity | 16.00% |
| Price/Sales (ttm) | 1.67 |
| Price/Book (mrq) | 1.62 |
| Enterprise Value/Revenue | 1.44 |
| Enterprise Value/EBITDA | 4.48 |
| Total Cash (mrq) | 49.92M |
| Total Debt/Equity (mrq) | 2.94% |
| Levered Free Cash Flow (ttm) | -22.86M |