Marco Polo Marine

Marco Polo Marine

 A reputable regional integrated marine logistics company which principally engages in shipping and shipyard businesses. Tapping on its core expertise in the shipping industry, the Group is pivoting to the renewables sector, providing customized solutions in the chartering, development, fabrication, and construction of bespoke renewable energy assets for its customers.

FY21 Results Announcement
Est 30 Nov 2021
Common FAQ
Responses to questions received from AGM 2020
SGX 10 in 10
SGX 10 in 10 as at July 2021

Investment Merits
  • Attractive valuation. At S$0.028, the Group has a market value of about S$86 million and trades at a P/B of just o.9x- where its net asset value has already been previously heavily impaired after the debt restructuring in 2017.
  • Deep value affirmed by savvy investors and industry veterans- coming in at an average cost of about S$0.032
  • Strong net cash position of S$8.9 million.
  • Turnaround efforts bear fruits as the Group turns EBITDA positive.
  • Pivoting to renewables to increase utilization and boost profitability
In The News
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Marco Polo Marine CONSENSUS
  • Consensus Rating
    5.00
  • BUY:HOLD:SELL
    2:0:0
  • Consensus TP
    0.038
Brokerages Report Analysts Recommendation TP
RHB Capital

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Jarick Seet BUY 0.041
UOB

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Clement Ho BUY 0.036

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Stock Information
Price 0.028
Market Cap (SGDm)        86
YE 9/30/2021
52 wk high/low  0.029/ 0.01 
Free Float % 48.5%
Key financial highlights
Key Highlights 2018 2019 2020
Revenue (SGD m) 26.2   30.2 30.8
EBITDA  (3.9) 2.4 (1.9)
EBITDA (excluding share of results from JV) 2.0 7.8 0.9
Net Profit 169.0* (3.9) (9.2)
P/B 0.8 0.8 0.9
Net D/E -15.7% -12.5% -13.6%
Source: Capitaliq (Share price as at June 2021)
*Pursuant to the debt restructuring exercise, oustanding debts aggregating to S$179.9m were waived and recognized as part of other operating income during the year