For its 1HFY2025, MPM reported core patmi of $9.6 million, down 14% y-o-y. Revenue in the same period was down 14% y-o-y to $52.7 million without third-party charter revenue of some $7.5 million in Taiwan. Shipbuilding activity was subdued as well.
Meghana Kande and Liew Siew Khee of CGS International continue to like Marco Polo Marine (SGX:5LY
) with their "add" call on Marco Polo Marine, with prospects of more chartering revenue.
However, taking into account industry valuation de-rating, they have reduced their target price to 6 cents from 8 cents.
