Marco Polo Marine - Maybank Research 2024-11-01: NDR Highlights

• We accompanied Marco Polo Marine on a non-deal roadshow (NDR) to meet institutional investors in Kuala Lumpur on 30 Oct and came away more bullish on its prospects.
• - Read this at SGinvestors.io -
• The manpower shortage issue has also improved with 3rd party repairs likely to rebound in FY25E. We also expect 1-2 CTV to be further acquired in 2025, increasing its CTV fleet size to 4-5 vessels.

CSOV completion on track for end-Jan 2025

• Based on our channel checks, the CSOV is close to completion and should sail to Taiwan by end-Jan 2025. We think potential issues may arise during the first 6-8 months for this newly constructed vessel which could potentially bring down its initial utilisation rate but it should be smooth sailing by FY26E.
• - Read this at SGinvestors.io -

Repair revenue likely to rebound in FY25E

• 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