Marco Polo Marine - RHB Research 2026-05-29: More Positive On Shipyard Monetisation; Keep BUY

• We continue to be positive on Marco Polo Marine (SGX:5LY) due to its accelerating growth outlook and injection of its shipyard business to Fuji Offset Plates (SGX:508).

• - Read this at SGinvestors.io -

• Marco Polo Marine's share price trades at a PEG of <1 at ~15x FY27F P/E.

Injects shipyard business to Fuji Offset, higher target price based on new SOP methodology.

• We are positive on Marco Polo Marine's recent announcements of its shipyard business’ injection into Fuji Offset Plates while receiving a 74.6% ownership stake in the latter. It will be paid a base of S$120m and deferred consideration of up to S$19m.

• - Read this at SGinvestors.io -

Keep BUY with higher S$0.21 target price.

• Read more at SGinvestors.io.

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