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u mean 42.5? yea...still looking forward. Thanks
steadylar ( Date: 10-Jan-2013 16:01) Posted:
James and Staphy, be patient, today's price at around 62.5 cts has broken above the trendline resistence, and effectively still trending up. Vol has also increased to that of Q1/2012.
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James and Staphy, be patient, today's price at around 62.5 cts has broken above the trendline resistence, and effectively still trending up. Vol has also increased to that of Q1/2012.
oh i see, so you'v been holding on to it for some time, i can understand, sometimes we feel like giving up, it's chanllenging to be stuck. Nobody can boast that they get the timing right all the time, but Staphy, when the management is progressive and ambitious, and the stk is showing potential to grow, it pays to stay with it and ride it up as prospects improve. Now that it has caught the media and analysts' attention, it should win favour of the investment community. Fundamental, valuation and chart wise, marco polo is certainly a buy at current price.
Thanks, steadylar. I've actually been vested for quite a while. V glad that Marco Polo has finally woken up! Huat indeed!
steadylar ( Date: 09-Jan-2013 10:21) Posted:
Staphy, welcome aboard the Marco Polo!
In Today newspaper pg 32 this morning, OCBC research maintains BUY rating with 56 cts fair value with the IPO of its subsidiary BBR kicking off today on Indonesia stock exchange. It added, " as a separate listed entity, BBR will be able to tap more sources of financing for EXPANSION PLANS in the HIGH-GROWTH Indo mkt."
The tide has turned for Marco Polo! with entry into OSV and listing of subsidiary, wow, sailing towards a new course for a brighter future.
Let's huat together ahhh! |
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James, I'm not vested in ASL Marine so I dont keep tab on it. As u r vested, keep a watchful eye on it's business prospects, health of balance sheet, any change in views by analysts covering it?
All the best in yr investments!
steadylar...are you into ASL marine? I'm also holding this counter with rather similar biz as marco polo. What do you think of it?
Ho sey liao, today DMG also joins the other analysts who are upbeat on Marco Polo the Great:
Scoop of the Day
MPM is enjoying steady growth in its operations and bottom line, fuelled by an
increasingly energy-hungry Indonesia. The growth profile combined with
demonstrated technical superiority means the stock should enjoy a premium, yet it
trades at 1.0x historical-cost book. MPM is a conviction call with a potential to
double in 2-3 years. MPM is one of the very rare companies which can safely
operate in Indonesian waters, without running afoul of the strongly-enforced
cabotage laws and without having to worry about local partners, by virtue of
management’s nationality. Associate PT BBR is listing today on the JSX. PT Bina
Buana Raya, MPM’s 49%-owned associate, is listing today on the JSX. This will
allow MPM to tap an alternative source of capital, much-needed in its capitalintensive
growth strategy. We are forecasting BBR to grow at a 90% EPS CAGR
for the three years to FY14F due to a fast-growing AHTS fleet, and 1H12 earnings
of US$4.5m have already far exceeded the entire FY11’s US$2.6m. Valuation: TP
$0.61. Conviction call, likely to double in 2-3 years. We value MPM at 9x FY13F
EPS, a fair multiple for 12.5% 3-year EPS CAGR. The same multiple on FY15F
EPS yields a value of $0.80, a doubling on today’s price.
: We re-initiate coverage with a Buy rating and TP of S$0.61.(Lee Yue Jer)
WHAT’S INSIDE
On the Platter
Marco Polo Marine: Conviction call, Tapping into a captive market (BUY,
S$0.415, TP: S$0.61)
Good news. The subsidiary will add on overall profit for MPM ..
Sorry, tech glitch caused a phrase to jump to the bottom.. it shd read " bcoming the single largest shareholder and exerting de facto control over the operations of PT BBR Tbk, PT BBR."
Extracts from news release today:
Following the completion of the IPO and with the Company consequently becoming the single
largest shareholder and exerting
Tbk will be deemed a subsidiary of Marco Polo Marine and will have its financial results
consolidated with the Group based on Financial Reporting Standard 27.
With 600 million new shares issued at IDR230 each, the IPO raised total gross proceeds of
IDR138 billion, or about US$14.3 million (based on the prevailing exchange rate of USD1 :
IDR9,650). In spite of the uncertain and subdued market sentiments, in part due to concerns
over the lingering Euro zone debt crisis, the overcast induced by the US fiscal cliff issue as well
as the slowing down of the Chinese economy, the IPO had been well-received by the
investment community. The fixed allocation tranche for 575.8 million new shares, almost
covering the entire IPO share offering, was fully placed out to institutional investors and high
net worth individuals. Coupled with the retail tranche of 24.2 million new shares being
approximately 22 times subscribed by retail investors, the IPO garnered a total order of 840.9
million new shares, representing an overall subscription of 1.40 times.
de facto control over the operations of PT BBR Tbk, PT BBR
Staphy, welcome aboard the Marco Polo!
In Today newspaper pg 32 this morning, OCBC research maintains BUY rating with 56 cts fair value with the IPO of its subsidiary BBR kicking off today on Indonesia stock exchange. It added, " as a separate listed entity, BBR will be able to tap more sources of financing for EXPANSION PLANS in the HIGH-GROWTH Indo mkt."
The tide has turned for Marco Polo! with entry into OSV and listing of subsidiary, wow, sailing towards a new course for a brighter future.
Let's huat together ahhh!
Any target price for Marco Polo?
Heavily vested. Hope can huat even more!
Yea..I mean ave down. lol..looking at the px going up I've forgotten that I'm holding it at a higher px. Thanks for sharing and hopefully the wait wont be too long to see the price gap up.
steadylar ( Date: 08-Jan-2013 16:57) Posted:
James, u mean ave down. Not a bad idea and if u hv holding power, the chart looks good, these few days mkt is a bit shaky, hope u can add at lower price.
Business Times, Published January 08, 2013
Marco Polo Marine completes IPO of Indonesian unit
According to Marco Polo Marine, the IPO had been well-received by the investment community despite uncertain and subdued market sentiments due to the lingering Euro zone debt crisis and the US fiscal cliff issue - PHOTO : MARCO POLO MARINE
Mainboard-listed Marco Polo Marine Ltd on Tuesday announced that its erstwhile associate company, PT Pelayaran Nasional Bina Buana Raya Tbk, has successfully concluded its initial public offering (IPO) with listing on the Indonesian Stock Exchange. The listing is slated for Jan 9, 2013.
Following the completion of the IPO, PT BBR Tbk will be deemed a subsidiary of Marco Polo Marine and its financial results will be consolidated with the group, said the integrated marine logistic company.
The IPO raised total gross proceeds of 138 billion rupiah (US$14.3 million), with 600 million new shares issued at 230 rupiah per share.
According to Marco Polo Marine, the IPO had been well-received by the investment community despite uncertain and subdued market sentiments due to the lingering Euro zone debt crisis and the US fiscal cliff issue.
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James, u mean ave down. Not a bad idea and if u hv holding power, the chart looks good, these few days mkt is a bit shaky, hope u can add at lower price.
Business Times, Published January 08, 2013
Marco Polo Marine completes IPO of Indonesian unit
According to Marco Polo Marine, the IPO had been well-received by the investment community despite uncertain and subdued market sentiments due to the lingering Euro zone debt crisis and the US fiscal cliff issue - PHOTO : MARCO POLO MARINE
Mainboard-listed Marco Polo Marine Ltd on Tuesday announced that its erstwhile associate company, PT Pelayaran Nasional Bina Buana Raya Tbk, has successfully concluded its initial public offering (IPO) with listing on the Indonesian Stock Exchange. The listing is slated for Jan 9, 2013.
Following the completion of the IPO, PT BBR Tbk will be deemed a subsidiary of Marco Polo Marine and its financial results will be consolidated with the group, said the integrated marine logistic company.
The IPO raised total gross proceeds of 138 billion rupiah (US$14.3 million), with 600 million new shares issued at 230 rupiah per share.
According to Marco Polo Marine, the IPO had been well-received by the investment community despite uncertain and subdued market sentiments due to the lingering Euro zone debt crisis and the US fiscal cliff issue.
Bro could be right this time. I'm looking at the price now and considering to average up. Hope we huat together. Cheers
steadylar ( Date: 08-Jan-2013 14:57) Posted:
Yes i'm vested at ave 38.5 cts as it began to look interesting when news of the IPO and insiders buying surfaced.
May I share an article by AK71 in his blog dated 1 Jan 2013:
" Persistent insider buying in Marco Polo Marine caught my eyes six months ago. When insiders increase their shares in large quantities, we must suspect that something good is brewing.
UOB is of the opinion that a new upcycle has begun for the OSV sector. This is supported by OCBC which revealed that the OSV to rig ratio will start falling in 2013 and this will favour vessel owners.
Marco Polo Marine together with its 49% owned Indonesian subsidiary ventured into the OSV sector in 2010 and currently own seven OSVs. Net profit received a leg up from their Indonesian subsidiary and doubled QoQ recently.
The scheduled listing of its Indonesian subsidiary on Indonesia Stock Exchange this month is likely to add some 30% to the NAV of Marco Polo Marine, according to Maybank KimEng.
Now, what does all this mean for Marco Polo Marine's current share price? It is too cheap."
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Yes i'm vested at ave 38.5 cts as it began to look interesting when news of the IPO and insiders buying surfaced.
May I share an article by AK71 in his blog dated 1 Jan 2013:
" Persistent insider buying in Marco Polo Marine caught my eyes six months ago. When insiders increase their shares in large quantities, we must suspect that something good is brewing.
UOB is of the opinion that a new upcycle has begun for the OSV sector. This is supported by OCBC which revealed that the OSV to rig ratio will start falling in 2013 and this will favour vessel owners.
Marco Polo Marine together with its 49% owned Indonesian subsidiary ventured into the OSV sector in 2010 and currently own seven OSVs. Net profit received a leg up from their Indonesian subsidiary and doubled QoQ recently.
The scheduled listing of its Indonesian subsidiary on Indonesia Stock Exchange this month is likely to add some 30% to the NAV of Marco Polo Marine, according to Maybank KimEng.
Now, what does all this mean for Marco Polo Marine's current share price? It is too cheap."
Hi. Thanks for the info steadylar. Though I personally dun quite believe research reports.
Lets hope for the best.
Btw, you vested also?
steadylar ( Date: 08-Jan-2013 13:25) Posted:
Hi James, at current price 40.5 cts, PE only 6.5X, NAV 41.4 cts (PB 0.99X), no dividends last yr.
On 28 Nov 2012, OCBC research set target price as 56 cts.
Chart wise, looks good!
Wish you huat big big in this New year!
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Hi James, at current price 40.5 cts, PE only 6.5X, NAV 41.4 cts (PB 0.99X), no dividends last yr.
On 28 Nov 2012, OCBC research set target price as 56 cts.
Chart wise, looks good!
Wish you huat big big in this New year!
Yea. I would say this is indeed quite a decent stock to hold with reasonable dividend. I think the success of subsidiary listing has already been priced in and there isn't much surprise. I think it takes a while for it to move to 0.50 level with few interest parties to purchase the stock. I was hoping it could go private and offer premium to existing shareholders.
Vested @ 0.48
steadylar ( Date: 08-Jan-2013 12:28) Posted:
No wonder major shareholders had been buying up M P shares over the last few months.
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No wonder major shareholders had been buying up M P shares over the last few months.
