Marco Polo Marine - Maybank Research 2024-04-17: Landmark Financing Secured

• We believe Marco Polo Marine (SGX:5LY)’s outlook is bright and maintain BUY our S$0.088 target price at just 8.5x FY24E P/E.
• Marco Polo Marine said its subsidiary, PKR Offshore, secured financing from Bank Sinopac for its first commissioning service operation vessel (CSOV) MP WindArcher – due to be operational by Oct 2024. This is the first financing secured by Marco Polo Marine for a new vessel since its restructuring and demonstrates access to bank financing which frees up cash flow and enables faster expansion.
• - Read this at SGinvestors.io -

Financing signals faster expansion potential

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• Our channel checks lead us to expect financing of up to 70-80% of the vessel at an interest rate below 4% per annum. We expect Marco Polo Marine to secure longer-term contracts for other vessels types like special operation vessels (SOV) and another CSOV.

CTV framework – huge potential

• Read more at SGinvestors.io.

Above is an excerpt from a report by Maybank Research.
Clients of Maybank Securities may be the first to access the full PDF report @ https://www.maybanktrade.com.sg/.

Read also Maybank's most recent report:
2025-02-19 Marco Polo Marine - Earnings Uplift In 2HFY25E.

Previous report by Maybank:
2024-12-03 Marco Polo Marine - Exciting Times Ahead.

Price targets by 2 other brokers at Marco Polo Marine Target Prices.

Listing of research reports at Marco Polo Marine Analyst Reports.

Relevant links:
Marco Polo Marine Share Price History,
Marco Polo Marine Announcements,
Marco Polo Marine Dividend Payout Dates & Corporate Actions,
Marco Polo Marine News