Marco Polo Marine Ltd

(09-03-2014, 03:29 AM)GPD Wrote: If they do a placement, it dilutes their EPS. If take loan incur interest expenses. So how they decide which one to go for?

No Change of Control
The consideration payable in respect of the above mentioned transaction will be satisfied in cash and no new shares will be issued to satisfy such consideration. There will also not be any changes to the Company’s board of directors or management as a result of the above mentioned transaction. There will accordingly not be a change of control of the Company as a result of the above mentioned transaction, and shareholders of the Company will not suffer a dilution to their shareholding as a result of the above mentioned transaction

It is best if the business can generate decent level of cash to support new ventures. MPM did not occur to me to fall into that category. If the new venture improve on that, it will be good.

One of my concerns is that the rig doesn't come into service until two years later and O&G is already on the upcycle. Is MPM too late into the game? Will they ended up with a big investment with return that dwindle after 6-7 years from now?

For the next two years financial cost will be high. The first MTN of $50mil is due in three years time. If they can pay off without further borrowing, it will be a sign that cash flow has improved. If their overall debt still goes up after the rig is in service, that is really bad.

A coverage by AK71 of Marco Polo recent price drop

http://www.stokflok.com/content/marco-po...e-weakness

(06-05-2014, 09:17 PM)arriyana Wrote: A coverage by AK71 of Marco Polo recent price drop

http://www.stokflok.com/content/marco-po...e-weakness

Hi, what is your view on their debt? Net gearing is about 1x now and towards the end of 2015 when they are due to pay the remaining 80% for the rig, we might be looking at 2.5x.

There is no impact on the company due to low oil price, beside the share price, or just not yet...

Marco Polo Marine's profit may rebound 45% this year, says OSK DMG

SINGAPORE (Jan 6): Marco Polo Marine ( Financial Dashboard)'s profit may rebound 45% this year and double in 2016 following the firm’s recent six contract wins worth over US$46 million ($61.4 million), according to OSK-DMG.

Among the deals secured, the accommodation work boat contract was deemed a "positive" surprise by OSK-DMG analysts Lee Yue Jer and Jesalyn Wong.

“It prompts us to raise our FY15 and FY16 earnings forecasts by 10% and 11% respectively,” they said in a note today.

Lee and Wong retained their "buy" call and price target of 60 cents on the stock, saying the contracts will give the marine logistics company long-term earnings and cash flow visibility.

“We see earnings rebound as the main near-term catalyst,” they said, adding that the stock's valuations are "compelling" at two to six times projected FY2015 to FY2017 earnings and 0.5 times of Marco Polo Marine's book value.

Shares of Marco Polo Marine fell 1.8% to 27.5 cents at noon (0400 GMT).
http://www.theedgemarkets.com/sg/article...ys-osk-dmg

http://infopub.sgx.com/FileOpen/Update_b...eID=379823

Seems like Marco Polo having some cash flow issue and unable to pay the 2nd payment for the rig. According to sembmar update, the 2nd payment already been deferred twice as requested by Marco Polo......

(26-11-2015, 10:54 AM)desmondxyz Wrote: http://infopub.sgx.com/FileOpen/Update_b...eID=379823

Seems like Marco Polo having some cash flow issue and unable to pay the 2nd payment for the rig. According to sembmar update, the 2nd payment already been deferred twice as requested by Marco Polo......

Based on what  SM presented , MP has a weaker case to cancel the rig order . MP seems doomed .

(26-11-2015, 02:14 PM)cfa Wrote:

(26-11-2015, 10:54 AM)desmondxyz Wrote: http://infopub.sgx.com/FileOpen/Update_b...eID=379823

Seems like Marco Polo having some cash flow issue and unable to pay the 2nd payment for the rig. According to sembmar update, the 2nd payment already been deferred twice as requested by Marco Polo......

Based on what  SM presented , MP has a weaker case to cancel the rig order . MP seems doomed .

MP announcement. http://marcopolo.listedcompany.com/newsr...RTYG.1.pdf

Who is right or wrong... yet to be seen.

(26-11-2015, 02:36 PM)Ray168 Wrote:

(26-11-2015, 02:14 PM)cfa Wrote:

(26-11-2015, 10:54 AM)desmondxyz Wrote: http://infopub.sgx.com/FileOpen/Update_b...eID=379823

Seems like Marco Polo having some cash flow issue and unable to pay the 2nd payment for the rig. According to sembmar update, the 2nd payment already been deferred twice as requested by Marco Polo......

Based on what  SM presented , MP has a weaker case to cancel the rig order . MP seems doomed .

MP announcement. http://marcopolo.listedcompany.com/newsr...RTYG.1.pdf

Who is right or wrong... yet to be seen.

Based on the reading of the announcement, it does not seem that MP had tried to settle this dispute amicably or reach out of settlement process. My gut feel is that Semb marine has some leverage in this spat. But lose-lose for both (lawyers laughing their way to the bank).

(not vested. Kaypoh vb [emoji14] )

Sent from my D5503 using Tapatalk

IMO, both companies need to make a case to be accountable to their shareholders.

I reckon, soon, the out-of-court settlement will be reached, and with a confidential detail.