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MarcoPolo Marine
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Marcopolo Marine Next Rotational Play
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Joelton
Supreme |
17-May-2026 22:35
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Marco Polo Marine to spin off shipyards via $139 mil RTO deal with Fuji Offset Plates Manufacturing Marco Polo Marine plans to spin off its shipyard business via an RTO of Fuji Offset Plates Manufacturing in a deal worth up to $139 million. The Teo family, who controls Apricot Capital, is a significant shareholder of Marco Polo Marine. The family founded and controls FOPM as well. Last May, Lim Ah Cheng, former executive chairman of Dyna-Mac Holdings, announced plans to take a 16.7% stake in FPOM by buying new shares at 45 cents each. The Teo family remains controlling shareholders. Under Lim, Dyna-Mac, which builds parts for rigs, turned around and for a brief couple of years, was a hot small cap stock riding on the recovery of the offshore and marine sector, before it was acquired by Korea' s Hanwha. Under terms of the deal, FPOM will issue new shares at 70.1 cents per share, giving Marco Polo Marine a controlling stake of 74.1%. Currently, besides its Indonesia-based yards, Marco Polo Marine runs a growing chartering business with a focus on the Taiwan offshore market. The company is already aiming for a separate listing of its Taiwan-based business. Marco Polo Marine explains that by creating a separately listed entity for its yards, it can set up a " transparent platform" for future growth. The company points out that a " substantial" portion of the yard' s revenue is from intragroup projects&mdash such as its fleet renewal and expansion into offshore wind support, which is eliminated upon consolidation. " Post-transaction, all revenue will be fully reportable, providing investors with clear visibility into the shipyard' s earnings capacity and its strategic role in the offshore wind sector," the company says. " Furthermore, the spin-off will establish an independent capital-raising platform for the shipyard business, enabling it to fund future growth and expansion based on its own market capitalisation without diluting Marco Polo Marine' s shareholders," the company adds. Sean Lee, executive director and CEO of Marco Polo Marine, calls this deal, which is subjected to shareholders' approval at an EGM to be called, " a pivotal milestone" for the company. " With the ongoing expansion of our offshore wind operations and our active fleet renewal programme, the shipyard is well positioned for robust, sustained growth," he says. Marco Polo Marines shares closed at 18 cents, up 2.27% FPOM shares last traded at 62 cents. |
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Nippon72
Veteran |
15-May-2026 15:39
Yells: "Dude, is ALWAYS Time in the market than Timing the market! " |
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Prefer it to creep up slowly, say 2-3c every month. building on strong base and to weed out short term punters. I can brew it for the next 9 nine years to sync with me SRS drawdown. Vested for the long haul. |
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TraderBen
Supreme |
15-May-2026 14:59
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this is another salted fish flip company.. those believed in it at hold since 1.2 cents really reaped fruits.. holidng up very well amid a sea of red.. likely some good news on the way
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Timer78
Veteran |
15-May-2026 10:47
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The RTO removes the ?conglomerate discount?.
It could justify another 2?5 cents rerating fairly quickly. If offshore wind momentum continues, the market may separately value: offshore wind vessel platform shipyard platform Taiwan PKRO optionality So after today?s announcement, a more reasonable near-term valuation range probably shifts toward: S$0.20?0.24 fair value speculative momentum could overshoot toward S$0.25+ if retail momentum enters |
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trader1970
Elite |
15-May-2026 08:58
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Bullish corporate action, expect to touch 20 cts soon.! Marco Polo Marine to spin off shipyards via $139 mil RTO deal with Fuji Offset Plates Manufacturing Marco Polo Marine to spin off shipyards via $139 mil RTO deal with Fuji Offset Plates Manufacturing
Marco Polo Marine plans to spin off its shipyard business via an RTO of Fuji Offset Plates Manufacturing in a deal worth up to $139 million. The Teo family, who controls Apricot Capital, is a significant shareholder of Marco Polo Marine. The family founded and controls FOPM as well. Last May, Lim Ah Cheng, former executive chairman of Dyna-Mac Holdings, announced plans to take a 16.7% stake in FPOM by buying new shares at 45 cents each. The Teo family remains the controlling shareholders. Under Lim, Dyna-Mac, which builds parts for rigs, turned around and for a brief couple of years, was a hot small cap stock riding on the recovery of the offshore and marine sector, before it was acquired by Korea' s Hanwha. Former Dyna-Mac executive chairman Lim Ah Cheng, who is now a substantial shareholder of Fuji Offset Plates Manufacturing / Photo: Albert Chua of The Edge Singapore
The Edge SingaporeFri, May 15, 2026 &bull 08:16 AM GMT+08 &bull &bull 3 min read
Under terms of the deal, FPOM will issue new shares at 70.1 cents per share, giving Marco Polo Marine a controlling stake of 74.1%. Currently, besides its Indonesia-based yards, Marco Polo Marine runs a growing chartering business with a focus on the Taiwan offshore market. The company is already aiming for a separate listing of its Taiwan-based business. Marco Polo Marine explains that by creating a separately listed entity for its yards, it can set up a " transparent platform" for future growth. The company points out that a " substantial" portion of the yard' s revenue is from intragroup projects&mdash such as its fleet renewal and expansion into offshore wind support, which is eliminated upon consolidation. " Post-transaction, all revenue will be fully reportable, providing investors with clear visibility into the shipyard' s earnings capacity and its strategic role in the offshore wind sector," the company says. " Furthermore, the spin-off will establish an independent capital-raising platform for the shipyard business, enabling it to fund future growth and expansion based on its own market capitalisation without diluting Marco Polo Marine' s shareholders," the company adds. Sean Lee, executive director and CEO of Marco Polo Marine, calls this deal, which is subjected to shareholders' approval at an EGM to be called, " a pivotal milestone" for the company. " With the ongoing expansion of our offshore wind operations and our active fleet renewal programme, the shipyard is well positioned for robust, sustained growth," he says. Separately, the company reported earnings of $11.6 million for 1HFY2026, up 9% y-o-y revenue was up 40% to $74 million. So-called adjusted net profit, which excludes forex movements and gains from one-off sale of assets, was up 44% to $13.8 million. In 1HFY2026, revenue from ship chartering improved by 38% to $44.3 million while the shipyard segment was up 43% to $29.7 million. Marco Polo Marines shares closed at 18 cents, up 2.27% FPOM shares last traded at 62 cents. |
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spursfan
Supreme |
15-May-2026 08:57
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Marco Polo Marine to Unlock Value of Shipyard Business Through S$139.0 Million Proposed Reverse Takeover of Fuji Offset Plates Manufacturing Ltd https://links.sgx.com/1.0.0/corporate-announcements/ADTO1U28PK75MB8M/888953_Marco%20Polo%20Marine%20-%20Proposed%20RTO.pdf |
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ysh2006
Supreme |
15-May-2026 08:36
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Proposed kena take over by Fuji offset all shipbuilding business for $139M, so share price translated only 17c ? is it correct ? | ||||
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trader1970
Elite |
12-May-2026 13:19
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PA indicating bullish long as RSI has risen above 70.. do not short nor sell off as BBs are determined to bring this to above 20.. WATCH :) 
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piscesmonkey
Supreme |
12-May-2026 11:34
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Very strong | ||||
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sansgp
Member |
12-May-2026 10:58
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Fund houses like CGS, ML buying up | ||||
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superstartup
Supreme |
12-Dec-2025 12:11
Yells: "Enjoy doing Fundamental Research" |
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Congratulations bro. I usually would have sold half too (took some capital and profit off the table). And keep the remaining half. But this time round I sold all in a single batch. Need to further hone my investment / trading discipline.
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longterminvestor
Master |
09-Dec-2025 13:15
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Cimb upgade today 20cents target...Hope PacificRad tml turn get upgrade | ||||
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Stocky901
Supreme |
03-Dec-2025 15:55
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Usually after analysts' buy calls 🤙 🤙
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Stocky901
Supreme |
03-Dec-2025 15:53
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Below 130 soon.. all took profits & run ... 🤨
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treetops
Elite |
03-Dec-2025 13:16
Yells: "Moments Today, Memories Tomorrow!" |
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Hit 0.148 high and start to drop. Should be profit taking for a few days. |
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easywin
Supreme |
03-Dec-2025 09:42
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Like strike jackpots,very long did not have such an opportunity | ||||
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Joelton
Supreme |
03-Dec-2025 09:33
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Analysts maintained Target Price of Marco Polo Marine&rsquo s shares at 14 cents after net profit jump
Analysts from CGS International and RHB have reiterated their &ldquo buy&rdquo call for Marco Polo Marine after the offshore and marine player announced a positive set of results for FY2025 ended Sept 30.
In their report issued on Dec 1, the CGSI pair of Meghana Kande and Lim Siew Khee maintained their TP of 14 cents. Their valuation is based on a forecasted P/E of 13 times for FY2027 and justify the 40% premium over its peers due to earnings visibility.
Meanwhile, using discounted cash flow, RHB&rsquo s Alfie Yeo calculates TP at 14 cents, up from the previous 12.2 cents. He adds that this valuation is 13 times of FY2026 forecasted P/E, below its 20% CAGR for FY2025 to FY2028.
Marco Polo Marine&rsquo s net profit attributable to shareholders jumped to $58.5 million, a y-o-y increase of nearly 170%. The performance was attributed to one-off gains and stronger performance for the ship-chartering segment.
Meanwhile, compared to the previous corresponding period of 39.3%, gross profit margin strengthened to 44.1%, with gross profit rising 11.8% y-o-y to $54.2 million.
The CGSI analysts noted that full-year revenue was in line with expectations, while net profit (excluding one-off gains) of $25.2 million was &ldquo ahead&rdquo of expectations.
They attributed gross margin improvement to the new commissioning service operation vessel (CSOV) that has been chartered to Siemens Gamesa at a day rate of US$65,000 ($84,000) since April.
However, for FY2026 to FY2028, they think that gross margin could decrease and &ldquo stabilise&rdquo to between 36% to 43% as the CSOV will be chartered to a long-term contract at US$45,000 ($58,000) daily with Vestas. Gross margin could also decrease as work begins on a newbuild order, which typically carries lower margins.
Kande and Lim are optimistic about upcoming new projects that would propel long-term growth into FY2028. With a new dry dock that became operational in August, they see an increase in ship repair work and revenue to flow in from newbuilds for FY2027.
For chartering revenues, they forecast an increase in FY2026 due to contributions from the CSOV and two new anchor handling tug supply (AHTS) coming into operation in the second half of FY2026.
They forecast a FY2028 net profit of $46.8 million, representing a 23% CAGR from FY2025 to FY2028. They attribute the profit increase to a second CSOV scheduled for delivery in 2Q FY2028 and a $198 million newbuild contract for a research vessel to be built over FY2027 to FY2029.
Key downsides for Kande and Lim include lower-than-expected utilisation for yard or fleet, and delays in offshore wind projects affecting vessel demand.
Similarly, Yeo is bullish on Marco Polo Marine due to its &ldquo accelerating growth outlook&rdquo and has gained more confidence on the company&rsquo s prospects with FY2025&rsquo s operating profit &ldquo outperforming strongly&rdquo .
He notes that revenue grew in the ship chartering segment on the back of the first CSOV&rsquo s deployment and three additional crew transfer vessels (CTV). Fleet utilisation also increased to 71%, compared to 68% for FY2024.
Yeo attributed the revenue decline for shipbuilding and repair to the construction of its already deployed CSOV, which reduced its shipyard&rsquo s capacity for third-party shipbuilding projects. However, this decline was offset by more shipbuilding projects with higher contract values and an increase in shipyard utilisation rate for ship repair to 83% from FY2024&rsquo s 74%.
Although both EBIT and core earnings outperformed his earlier estimates by 29% and 14% respectively, he does not expect revenue to increase for FY2026 and FY2027. However, he believes margins will be stronger and has raised earnings forecasts by 15% and 13% for the afore-mentioned two years. He writes that the forecast is &ldquo premised on a higher fleet size, improved charter rates, stronger utilisation rates, and the recent shipbuilding contract coming through&rdquo .
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tofudidi
Supreme |
03-Dec-2025 09:21
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JP morgan buying up... likely push through 150! | ||||
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easywin
Supreme |
03-Dec-2025 09:13
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Just wait for more easy money seem not so risky due to good support
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tofudidi
Supreme |
03-Dec-2025 09:06
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today can punch up 150 range... lets go! | ||||
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