tag:blogger.com,1999:blog-7944902213075756335.post8166993465512950215..comments2024-03-29T19:12:08.223+08:00Comments on A Singaporean Stocks Investor (ASSI): Marco Polo Marine: Reason for price weakness.AK71http://www.blogger.com/profile/16832145412062954289noreply@blogger.comBlogger26125tag:blogger.com,1999:blog-7944902213075756335.post-69873548344492231712014-08-25T23:17:16.826+08:002014-08-25T23:17:16.826+08:00"At its latest earnings briefing, Sembcorp Ma..."At its latest earnings briefing, Sembcorp Marine warned of increasing pressure on margins, and there are concerns that any pull-back will have a knock-on effect on supporting players in Singapore.<br /><br />"Chief Financial Officer of Viking Offshore and Marine JK Low said: “If you look at it in this industry as a whole, it is an ecosystem, there are various players playing. So if theAK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-73369034110555667592014-08-20T11:23:40.006+08:002014-08-20T11:23:40.006+08:00Hi ozxinvest,
Thanks so much for the comments. Mu...Hi ozxinvest,<br /><br />Thanks so much for the comments. Much appreciated. :)<br /><br />Yes, 2 years isn't that long a time to wait for good things to happen and accumulating on weakness, in such an instance, sounds like a good idea. ;)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-48838584844796080572014-08-20T10:18:02.187+08:002014-08-20T10:18:02.187+08:00From fool.sg
http://www.fool.sg/2014/08/20/has-nam...From fool.sg<br />http://www.fool.sg/2014/08/20/has-nam-cheongs-bold-business-strategy-paid-off/<br /><br /><b>A new joint venture</b><br /><br /><i>...In the same day as the new contract was announced, Nam Cheong also revealed a new joint venture with fellow ship builder Marco Polo Marine Ltd (SGX: 5LY). Under the terms of the JV, the former would be buying a 50% stake in a wholly-owned ozxinvesthttps://www.blogger.com/profile/16719797183939157107noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-32052719379443691962014-08-20T09:57:58.379+08:002014-08-20T09:57:58.379+08:00It's not too long from now in fact. I don'...It's not too long from now in fact. I don't know about others, but another 2 years of waiting time for a potential of doubled earning (which would probably lead to doubled stock price) is actually considered short term for me. Will keep accumulating while it's still being unloved and trading about 30% below NAV with reasonable earnings. Expecting a string of good news coming out in ozxinvesthttps://www.blogger.com/profile/16719797183939157107noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-81555820540883730882014-08-19T19:31:44.306+08:002014-08-19T19:31:44.306+08:00Hi ozxinvest,
Thank you so much for sharing this ...Hi ozxinvest,<br /><br />Thank you so much for sharing this with us here. Much appreciated. :)<br /><br />The tugs and barges business is a legacy issue. Easy for me to say Marco Polo Marine should just get rid of it but I guess it isn't as easy as that. -.-"<br /><br />To stay invested in Marco Polo Marine is to believe in its transformation which should become more apparent by end 2015AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-90485856614912381702014-08-19T17:41:30.673+08:002014-08-19T17:41:30.673+08:00I have recently asked the management regarding th...I have recently asked the management regarding the tug and barge segment and here it goes,<br /> <br />Ans: The division currently exerting a drag to our Group performance is the tugs and barges division.<br /> <br />We are looking to improve the performance by broadening the customer base and expanding to carrying more types of minerals, aggregates.<br /> <br />As there are operations, assets, ozxinvesthttps://www.blogger.com/profile/16719797183939157107noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-60689899863255262832014-08-19T16:25:11.060+08:002014-08-19T16:25:11.060+08:00A positive development and Mr. Market is showing h...A positive development and Mr. Market is showing his approval in the usual way today. ;)<br /><br />However, I will caution that for Marco Polo Marine to do better, its tugs and barges business must pull its own weight. <br /><br />Of course, the real game changer is the oil rig that is due for delivery at the end of 2015.AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-22339445740398376462014-08-19T15:33:50.642+08:002014-08-19T15:33:50.642+08:00"including but not limited to accommodation w..."including but not limited to accommodation work vessels, work-boats, accommodation work barges, anchor handling tugs and supply vessels and, if mutually agreed, such other assets and undertakings as the joint venture may acquire or participate in the future"....<br /><br />Hmmm...Oil rigs? letissier07https://www.blogger.com/profile/14732344839301355343noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-63793235361544050022014-08-19T11:47:26.620+08:002014-08-19T11:47:26.620+08:00Marco Polo Marine Ltd and Nam Cheong Limited have ...<i>Marco Polo Marine Ltd and Nam Cheong Limited have formed a joint venture company following the sale of Marco Polo Marine Group's 50% stake in Marco Polo Offshore (IV) Pte Ltd to Nam Cheong Group on 19 August 2014. <br /><br />The JV Co recently purchased a newly built Accommodation Work Vessel constructed by the Nam Cheong Group. Following the acquisition of the AWV, the JV Co is pleased AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-12358363141352257232014-05-07T11:28:21.455+08:002014-05-07T11:28:21.455+08:00Hi seefei,
You are welcome. :)
For sure, if the ...Hi seefei,<br /><br />You are welcome. :)<br /><br />For sure, if the strategy is well executed, Marco Polo Marine's earnings will skyrocket in 2016, everything else remaining equal.<br /><br />The thing is that everything else should remain equal but it did not. The shocker of a loss by the tugs and barges was unexpected.<br /><br />Having said this, everything should not remain equal AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-12724321227328351342014-05-07T10:13:07.004+08:002014-05-07T10:13:07.004+08:00AK
thanks for the post. It is informative and will...AK<br />thanks for the post. It is informative and will help me to decide on my MPM investment. <br /><br />I notice counters in chartering business like ezion are highly leveraged. It is a nature of this business. <br /><br />Look like MPM is shifting its focus on ship building to chartering business. The rig maybe is the beginning. If the rig can be successfully chartered out by end of 2015, itseefeihttps://www.blogger.com/profile/13678700448170267302noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-91922108250950297652014-05-07T10:13:05.084+08:002014-05-07T10:13:05.084+08:00Hi yeh,
It remains to be seen if the tugs and bar...Hi yeh,<br /><br />It remains to be seen if the tugs and barges will make a comeback or continue to be loss making. Until the OSV segment of the business becomes more dominant, the tugs and barges segment must pull their own weight. <br /><br />Otherwise, Marco Polo Marine is better off closing down that part of their business and they should then think of transforming more completely to being AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-35464306379190383712014-05-07T09:43:58.595+08:002014-05-07T09:43:58.595+08:00Today drop again.
I think just put in stock In fre...Today drop again.<br />I think just put in stock In freezer and wait for it to ripe:)<br /><br />I think the lowest I get this stock is 34.5 cent<br />Not sure whether will reach that level not:(<br /><br />yehhttps://www.blogger.com/profile/12571111570066245051noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-4617635789868164172014-05-07T08:12:42.992+08:002014-05-07T08:12:42.992+08:00Hi CP,
This is why I say that things have evolved...Hi CP,<br /><br />This is why I say that things have evolved from my original thesis for investing in Marco Polo Marine. The jack up rig was not a part of my investment thesis in the beginning.<br /><br />In my last blog post, I ended by asking "Do we share Sean Lee's vision and are we able to take the same leap of faith? Or do we think he has a few loose screws in his head?" ;p<br AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-82469228352384983932014-05-07T02:31:37.949+08:002014-05-07T02:31:37.949+08:00"While the building progress of the Rig Under..."While the building progress of the Rig Under Construction, which is slated for delivery in November 2015, is being closely monitored, the Group is actively on the lookout for potential partners to complement its resources and expertise for its eventual rig chartering operations."<br /><br />I know this sounds speculative, but does this look like a potential future catalyst? <br /><br /cphttps://www.blogger.com/profile/17983554208315782848noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-11352091615615615782014-05-06T22:49:35.663+08:002014-05-06T22:49:35.663+08:00See many ppl talking about this "Sell in May....See many ppl talking about this "Sell in May..." thingy and check out the charts, Seems valid though...Anyway, I'll get out some of my positions if possible. Thanks for sharing the link!flyingchickenhttps://www.blogger.com/profile/06991063735508531658noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-13817569441352671482014-05-06T22:00:06.208+08:002014-05-06T22:00:06.208+08:00Hi flyingchicken,
I don't have an opinion on ...Hi flyingchicken,<br /><br />I don't have an opinion on this although you might want to read this:<br /><br />http://singaporeanstocksinvestor.blogspot.sg/2014/03/tea-with-enza-explaining-mr-markets.html<br /><br />All the best. :)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-12100143829101290822014-05-06T21:54:05.937+08:002014-05-06T21:54:05.937+08:00Hi AK
What do you think about the "Sell in M...Hi AK<br /><br />What do you think about the "Sell in May and go away" theory? From the past, I can see that STI fell ~5% in 2011, ~10% in 2012 and ~11% in 2013 from the peak somewhere near May to last Jun-Jul period.<br /><br />Do you think it is a gd idea to trim off winning positions and accumulate cash now or would you brush it off as an urban myth?flyingchickenhttps://www.blogger.com/profile/06991063735508531658noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-89325782878336120722014-05-06T20:30:46.114+08:002014-05-06T20:30:46.114+08:00Hi Janice,
All I can say is that the price of 36c...Hi Janice,<br /><br />All I can say is that the price of 36c is lower than my last purchase price of 37.5c. However, does 36c now give better value for money? We can say this if the business fundamentals have not changed from the time I bought at 37.5c. So, have they changed? I think they have.<br /><br />Marco Polo Marine's balance sheet is now weaker and its overall earnings are also weakerAK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-86299716768057106312014-05-06T20:21:07.384+08:002014-05-06T20:21:07.384+08:00"Though the chartering of tugboats and barges..."Though the chartering of tugboats and barges of the Group has been and is expected to continue to remain subdued, with the offshore oil and gas exploration and production activities in the region expected to remain robust, albeit a possible slowdown in Indonesia in part due to the legislative and presidential elections currently in progress, the Group expects the offshore business of its AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-21043208562841611602014-05-06T19:43:16.923+08:002014-05-06T19:43:16.923+08:00Hi AK,
Wanted to ask your as well what do you thi...Hi AK,<br /><br />Wanted to ask your as well what do you think of DynaMac?<br /><br />Considering this as an alternative to MarcoPolo as well as I believe that is also undervalued.Janicehttps://www.blogger.com/profile/15051497905467592080noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-54932626415405142312014-05-06T19:07:38.636+08:002014-05-06T19:07:38.636+08:00Hi AK,
If I read correctly, you would trim your h...Hi AK,<br /><br />If I read correctly, you would trim your holdings in Marco Polo based on the last line of your blog post?<br /><br />Or would you continue adding since the price is attractive now compared to the time you bought at 37.5?<br /><br />Janicehttps://www.blogger.com/profile/15051497905467592080noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-81668128043555260642014-05-06T15:58:01.179+08:002014-05-06T15:58:01.179+08:00Hi yeh,
High gearing is quite common in the indus...Hi yeh,<br /><br />High gearing is quite common in the industry that Marco Polo Marine is in. Actually, when I first spotted Marco Polo Marine, I liked it because its gearing level was relatively low compared to its peers. This has changed over time as it ramped up CAPEX. <br /><br />Having said this, if the cash flow from operations grows stronger over time, actually, a higher gearing level is AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-6466761718926618242014-05-06T15:16:38.431+08:002014-05-06T15:16:38.431+08:00Hi ak.
How do you think about marco polo high debt...Hi ak.<br />How do you think about marco polo high debt and low liquidity? <br />This is my main concern.<br /><br />Thanks<br />yehhttps://www.blogger.com/profile/12571111570066245051noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-32356453476452555362014-05-06T14:37:51.083+08:002014-05-06T14:37:51.083+08:00Hi Ice,
I won't say what is good for you to d...Hi Ice,<br /><br />I won't say what is good for you to do. This is something you have to decide, taking into consideration your motivations and circumstances. :)<br /><br />Also, we have to remember that 2016 is quite far away. So, it could be a long shot although everything looks good now on paper. Remember that nothing is guaranteed.AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.com