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Marco Polo - IPO
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upnowhere
Senior |
23-Aug-2010 15:45
Yells: "Just want to earn a bit pocket $$$" |
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Strong Growing Integrated Marine Logistic Operations Boosted 9M FY2010 Net Profit By 98% to $16.3 Million ¨ 9M FY2010 revenue rose 24% to $49.5 million with broad based growth¨
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upnowhere
Senior |
11-Aug-2010 21:09
Yells: "Just want to earn a bit pocket $$$" |
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when there isnt any news for this counter.. the price went up.. but got good news it down.. hahaha crazy man..?? 2 Aug news from SGX "MARCO POLO MARINE SECURES CONTRACTS TO BUILD FOUR UNITS OF BARGES TOTALLING ABOUT S$8.9 MILLION FOR AN INDONESIA ENTITY." |
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kingster
Senior |
08-Jul-2010 10:11
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anyone have any insight on this stock? Only got this report on it. Seems to be slowly moving up but very slowly... Lower FY10F EPS by 10% on extended reflagging downtime. Following our recent update with management, we cut our FY10F net profit forecast by 10% due to extended reflagging downtime. We understand that vessels cannot be deployed during the reflagging process, and with the whole process taking 3-4 months, this will impact utilisation rate. However, we view this as a short term setback and remain bullish on the stock. MPM is an exciting play on the enforcement of the Indonesian cabotage ruling. Key re-rating catalysts are: (1) strong news flow on contract wins and expansion into oil and gas chartering; (2) positive earnings momentum from expanded fleet of vessels; (3) improving balance sheet and gearing position. Maintain BUY with target price of S$0.69. More sale-and-leaseback (S&L) to facilitate reflagging process. MPM entered into another S&L arrangement for eight vessels on 29 Mar 2010 for a total value of S$8.8m. The S&L is necessary to facilitate its reflagging process. Based on our estimates, the S&L will lower its net gearing from 0.45x to 0.34x but raise its annual charter-in cost by S$1.5m. The enforcement of the cabotage ruling has opened up a window of opportunity for MPM to establish itself as a leading transhipment player in Indonesia. We believe there is more S&L in the pipeline to accelerate the reflagging process. MPM currently operates 83 tugs and barges; 24 under S&L, 24 under the JV with Glencore International, and the balance 35 directly owned by MPM. New contract wins reaffirmed our positive view on MPM. YTD, MPM secured two new transhipment contracts for an Indonesian coal owner valued at US$10m (17 months) and US$20m (4 years). We estimate revenue from both contracts to hit S$17m pa. The contract wins reaffirmed our view that MPM are well positioned to gain from the cabotage ruling and strong transhipment demand. Maintain TP at S$0.69, implying 12x FY10 P/E vs. 8x for small/mid-cap ship charterers. We believe the premium is justified by management’s ability to deliver growth. MPM enjoyed 58% EPS CAGR over FY04-09, and we believe earnings momentum will continue with 48% EPS CAGR over FY10-11F on bigger fleet of vessels, and backed by more transhipment contracts. Key risk to our forecast is inability to reflag vessels and maintain high utilisation rate. |
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alexchia01
Elite |
27-May-2010 14:05
Yells: "Catch The Stars And Ride With Them" |
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Ship Charting and Building Business. A small company. Financial looks good. Stable revenue and profits. What I dislike is that they never gives dividend. Price is cheap. Good to own, but not to trade.
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kingster
Senior |
27-May-2010 13:36
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i like it personally and the results so far has been gd. and it is now trading at near 1 yr ago price i think... worth a shoot? | ||
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E-war
Veteran |
27-May-2010 13:00
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Some analysts like it. Any comments? | ||
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kingster
Senior |
27-May-2010 12:20
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the sold down vol has been quite low so far compared to when it was above 40cts... should be about time to accumulate? | ||
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freeme
Elite |
04-May-2010 16:15
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ammo in at 0.44 | ||
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mazimaz10
Senior |
22-Apr-2010 17:22
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Yalah thot this counter is good why no movement?? | ||
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upnowhere
Senior |
21-Apr-2010 21:07
Yells: "Just want to earn a bit pocket $$$" |
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any investor out there got any comment at this counter? |
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investment
Senior |
29-Mar-2010 17:59
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Marco Polo Marine sells 8 vessels in sale and leaseback
By ANGELA TAN
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des_khor
Supreme |
01-Mar-2010 15:44
Yells: "Tell me who is the God or MFT from this forum??" |
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Stay above 200 ma and 20 ma liao... lai liao !! |
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Moneysense
Senior |
14-Jan-2010 20:07
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This one is a gem but I had sold it too earlier. Understood that some veterans had joined to build up this company. Hope that I will have a chance to buy back. | ||
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daphnecsf
Senior |
24-Nov-2009 23:01
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24Nov09 Marco Polo Marine Ltd on Tuesday reported a 94 per cent year-on-year jump in its fourth quarter net profit for to S$1.83 million.Revenue, however, slipped 9 per cent to S$14.64 million as a result of lower ship building revenue despite higher revenues generated from ship chartering and ship repair operations |
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gamblingden
Member |
03-Aug-2009 15:54
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cumming......
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gamblingden
Member |
30-Jul-2009 13:31
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patience.....dumping ending soon, marco polo will be sailing north to uncharted territories unless support broken which is unlikely
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nickyng
Supreme |
29-Jul-2009 12:38
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wow....dumping at 37cts ?!?!? even though placement at 37.5cts !??!?! make ANY sense har ? :D | ||
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nickyng
Supreme |
29-Jul-2009 10:00
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err...seems to be near it's placement price of 37.5cts...worth accumulating?? :P |
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petertan4949
Senior |
28-Jul-2009 21:47
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cheong down a little only mah..Accumulating maybe? | ||
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nickyng
Supreme |
28-Jul-2009 21:38
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wah! other stocks cheong up...this burger cheong DOWN ??!?!? :P interesting...last report as follow seems not too bad leh...wondering WHY? :P http://www.remisiers.org/research//Marco%20Polo%20Marine%20init%20report%200.51%20CIMB.pdf |
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