tag:blogger.com,1999:blog-7944902213075756335.post2770777468322867126..comments2024-03-29T10:22:24.187+08:00Comments on A Singaporean Stocks Investor (ASSI): Marco Polo Marine: H1 FY2013 EPS up 61.2%.AK71http://www.blogger.com/profile/16832145412062954289noreply@blogger.comBlogger51125tag:blogger.com,1999:blog-7944902213075756335.post-2668933057375611222013-07-11T16:43:32.048+08:002013-07-11T16:43:32.048+08:00A potential value play is Indonesian- based OSV ch...<i>A potential value play is Indonesian- based OSV charterer Marco Polo Marine, one of the few operators with direct exposure to Indonesias booming oil and gas industry. Owing to the recently implemented cabotage rules, many foreign operators have been forced to abandon their operations in the country, leading to a shortage of capable OSV charterers and causing charter rates to rise rapidly. AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-12885177514548628772013-06-21T21:29:38.189+08:002013-06-21T21:29:38.189+08:00Hi Yee,
Yup, buying more shares of MPM now is buy...Hi Yee,<br /><br />Yup, buying more shares of MPM now is buying at a 15% discount to NAV. There is definitely good value. :)<br /><br />I like that they have bought an AHTS so that they can more quickly capture more business instead of waiting for the new builds to be completed in their shipyard. This is something I have suggested before as well.<br /><br />MPM's growth story is an exciting AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-16207002136446481512013-06-21T17:24:43.305+08:002013-06-21T17:24:43.305+08:00Anyone buying more during this correction?
Scoop ...Anyone buying more during this correction?<br /><br />Scoop of the Day: MPM announced that its associate PT Bina Buana Raya (BBRM) has acquired a 9,000bhp AHTS vessel to be deployed in Indonesian waters. <br /><br />---> Channel checks indicate that this is a bargain-priced asset, resulting in an ROE of 90% on this vessel. <------<br /><br />Our calculations further show that future assets,Forex Guruhttps://www.blogger.com/profile/07038750232911100863noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-72456570531287183802013-06-06T11:19:42.572+08:002013-06-06T11:19:42.572+08:00Hi ozxinvest,
I guess we will have to give them t...Hi ozxinvest,<br /><br />I guess we will have to give them the benefit of the doubt and that their resources are indeed limited. ;p<br /><br />Anyway, as Marco Polo Marine's share price drifts lower, the margin of safety is increasing.<br /><br />Now, if we look at the chart, the rising 200d MA is at 38.5c. Will we see 38.5c tested? No one knows but if it should be tested, I know what to do. AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-15212121183593106012013-06-06T10:11:09.443+08:002013-06-06T10:11:09.443+08:00Hi AK,
OCBC has lost interest in MPM. I think ana...Hi AK,<br /><br />OCBC has lost interest in MPM. I think analyst preferred "exciting" stocks rather than "boring" stocks. LOL. <br />-----------------------------------<br />Marco Polo Marine: Ceasing coverage<br />After BBR’s listing on the Indonesia Stock Exchange early this year, Marco Polo Marine (MPM) has been increasingly branding itself as an entity for investors to ozxinvesthttps://www.blogger.com/profile/16719797183939157107noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-73128711490189550952013-05-29T07:59:52.053+08:002013-05-29T07:59:52.053+08:00Hi ozxinvest,
The growth is quite apparent. I lik...Hi ozxinvest,<br /><br />The growth is quite apparent. I like it too.<br /><br />Marco Polo Marine is in a sweet spot except for its shipyard business but that, hopefully, will pick up in the next couple of quarters.AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-50940248977462062052013-05-29T00:56:08.646+08:002013-05-29T00:56:08.646+08:00Hi Solidcore,
I wonder what makes you think the n...Hi Solidcore,<br /><br />I wonder what makes you think the next report would send the share price plunging? So scary when I read your sentence.<br /><br />Hi AK,<br /><br />Singapore Bunkering business seems to enjoy good growth over the past years. I like that.<br /><br />"Singapore bunkering market has experienced<br />resilient and unabated growth over the past few years. Total bunker ozxinvesthttps://www.blogger.com/profile/16719797183939157107noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-11478813450177675382013-05-28T23:06:11.957+08:002013-05-28T23:06:11.957+08:00Hi ozxinvest,
This is definitely a good source of...Hi ozxinvest,<br /><br />This is definitely a good source of recurring income. However, it does seem as if this engine of growth is being back benched as the company concentrates fire power in ramping up its capacity to meet OSV demand in Indonesia.AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-11190356029322498862013-05-28T23:02:34.870+08:002013-05-28T23:02:34.870+08:00Besides ship chartering and shipyard business, MPM...Besides ship chartering and shipyard business, MPM is also venturing into bunkering business, a JV with Marine Tankers Holdings last year. I think this is not mentioned in any analysts' report albeit CEO mentioning this as an "potential engine of growth". <br /><br />"As a start, the JV company will own and operate two double-hulled vessels due for delivery around July 2012.&ozxinvesthttps://www.blogger.com/profile/16719797183939157107noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-87222746310463914102013-05-28T20:08:46.077+08:002013-05-28T20:08:46.077+08:00Hi Solidcore,
Indeed, if you know a place that se...Hi Solidcore,<br /><br />Indeed, if you know a place that sells working crystal balls, please let me know. ;pAK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-5019409646481095542013-05-28T19:13:07.189+08:002013-05-28T19:13:07.189+08:00Hi AK,
Thanks for your very easy to comprehend an...Hi AK,<br /><br />Thanks for your very easy to comprehend and I would say, supportive words to allay some of my nagging mixture of fear/nervousness to sell them for a micro profit.<br /><br />Well it is also true the next report might send this counter plunging but we don't have a crystal ball do we? :)<br />SOLIDCOREhttps://www.blogger.com/profile/10335285941501577901noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-29576129225040063692013-05-28T13:49:22.448+08:002013-05-28T13:49:22.448+08:00Hi Solidcore,
Technically, I see support at 41c a...Hi Solidcore,<br /><br />Technically, I see support at 41c and I bought more at 41c and also 41.5c. At these prices, to me, the stock is undervalued.<br /><br />Was it really a mistake to buy at, say, 42c or even 44c? Well, if we were to look at the matter based simply on price, then, yes.<br /><br />However, if we are buying something that is undervalued and as long as we buy when it is AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-15883253660049350002013-05-28T13:30:37.828+08:002013-05-28T13:30:37.828+08:00Hi AK,
With price of 41c holding for this couple ...Hi AK,<br /><br />With price of 41c holding for this couple of days, would you have the courage to buy some more? <br /><br />Personally I've made a wrong mistake by buying at much higher prices (being a newbie investor for just a mere 5 months) but it's a lesson learnt and a lesson remembered.<br /><br />SOLIDCOREhttps://www.blogger.com/profile/10335285941501577901noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-74138058005600417272013-05-25T15:26:23.429+08:002013-05-25T15:26:23.429+08:00Let us hope we get some bargains! ;pLet us hope we get some bargains! ;pAK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-23441807637643608152013-05-25T10:06:30.270+08:002013-05-25T10:06:30.270+08:00Mid year sales on :)
Mid year sales on :)<br /><br />ozxinvesthttps://www.blogger.com/profile/16719797183939157107noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-46365475005067472392013-05-20T15:29:49.291+08:002013-05-20T15:29:49.291+08:00Hi teny,
The last time I looked at NOL's char...Hi teny,<br /><br />The last time I looked at NOL's chart, I said to myself that the counter could have found a strong floor, if not the bottom. That is all I can say. :)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-40528526036308544942013-05-20T15:14:37.861+08:002013-05-20T15:14:37.861+08:00hi ak,
seems marco polo doesnt move alot lately.
w...hi ak,<br />seems marco polo doesnt move alot lately.<br />what you think of nol(NEPTUNE ORIENT LINES LIMITED)? it has been hit triple bottom.teny123https://www.blogger.com/profile/04409096819249643756noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-52402721330516178672013-05-14T23:07:25.009+08:002013-05-14T23:07:25.009+08:00Hi ozxinvest,
Weakness in its share price is a ch...Hi ozxinvest,<br /><br />Weakness in its share price is a chance to accumulate, it would seem. <br /><br />Thanks for sharing the analysis. :)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-53685665703034831512013-05-14T22:19:19.838+08:002013-05-14T22:19:19.838+08:00Hi AK,
OSK DMG maintains buy call (TP:61c).
MPM...Hi AK,<br /><br />OSK DMG maintains buy call (TP:61c). <br /><br />MPM’s 2QFY13 results were slightly weaker than expected as poor<br />weather dampened the tug & barge operations while volumes at the<br />drydocks declined. We see much stronger core performance in FY14F<br />as its expanding fleet of Indonesian offshore support vessels (OSVs)<br />will enjoy a 30% revision when their ozxinvesthttps://www.blogger.com/profile/16719797183939157107noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-19954926785703274472013-05-13T23:20:21.941+08:002013-05-13T23:20:21.941+08:00Hi ozxinvest,
I have no problem with the idea of ...Hi ozxinvest,<br /><br />I have no problem with the idea of being "slow and steady" if it wins the race and I believe Marco Polo Marine will win. ;)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-77625752211532578302013-05-13T23:06:05.344+08:002013-05-13T23:06:05.344+08:00Hi AK,
As value investors, we often ask ourselves...Hi AK,<br /><br />As value investors, we often ask ourselves why are we buying the stock in the first place.<br /><br />One of the things I like about MPM is that they could build their own ships at cost.<br /><br />There is a big pie out there but I would rather MPM pick it up slice by slice rather than swallow the whole pie in one big gulp.<br /><br />I believe the management have done their ozxinvesthttps://www.blogger.com/profile/16719797183939157107noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-89077774506150967422013-05-13T09:51:27.675+08:002013-05-13T09:51:27.675+08:00Hi letissier,
I was just talking to some friends ...Hi letissier,<br /><br />I was just talking to some friends about how Marco Polo Marine might want to consider buying a couple of AHTS from other yards.<br /><br />Building new AHTS in their own yard makes sense but the long leadtime is a disadvantage.<br /><br />Of course, buying from a third party yard would mean higher cost and this could put a strain on the balance sheet.AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-16994641387637025952013-05-13T09:23:47.066+08:002013-05-13T09:23:47.066+08:00Somebody from Indonesia bought a 12,000bhp AHTS fr...Somebody from Indonesia bought a 12,000bhp AHTS from Nam Cheong. This vessel should be ex-stock. More competition in the Indonesian waters for AHTS > 10k bhp...letissier07https://www.blogger.com/profile/14732344839301355343noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-64904563358616677592013-05-11T17:01:33.808+08:002013-05-11T17:01:33.808+08:00Hi ozxinvest,
What I find interesting is that the...Hi ozxinvest,<br /><br />What I find interesting is that the fair value estimate for ASL Marine by Low Pei Han uses a PER of 10x based on forward earnings estimate. This seems pretty bullish.<br /><br />In the case of Marco Polo Marine, my fair value estimate of 50.5c was based on 8x PER using trailing 12 months earnings which is rather conservative in comparison.<br /><br />Low Pei Han could be AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-90533092897488010162013-05-11T16:12:32.928+08:002013-05-11T16:12:32.928+08:00Hi AK,
Asking people to hold when there is an est...Hi AK,<br /><br />Asking people to hold when there is an estimated upside of 20% is as unreasonable as asking people to hold when there is a estimated downside of 20%.<br /><br />Compared this with the other report by the same analyst on ASL Marine which is a buy call for a 26.4% upside ( taking 68c opening price at 9 May)<br />-----------------------------------<br />By Low Pei Han <br />Thu, 9 ozxinvesthttps://www.blogger.com/profile/16719797183939157107noreply@blogger.com