- 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
- - Read this at SGinvestors.io -
- 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 the excerpt from report by Maybank Research.
Clients of Maybank Securities may be the first to access the full report in PDF @ https://www.maybanktrade.com.sg/.
Jarick Seet Maybank Research | https://www.maybank-ke.com.sg/ 2024-04-17
Read also Maybank's most recent report:
2024-10-07 Marco Polo Marine - Beneficiary Of Rising Oil Prices.
Previous report by Maybank:
2024-09-16 Marco Polo Marine - Deeply Undervalued .
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 Dividends & Corporate Actions,
Marco Polo Marine News Articles
