“Mr Kum is a luminary in the maritime world, and his decision to further invest in our company is the strongest possible validation of our strategic direction, operational excellence, and the growth potential we are unlocking in both the offshore oil and gas and renewable energy sectors,” says MPM CEO Sean Lee.
Similar to its peers, Marco Polo Marine (MPM) was badly hit when the offshore and marine (O&M) industry experienced a slump from the mid-2010s onwards due to a cratering in oil prices and an oversupply of O&M assets. In a bid to keep the company afloat, the controlling Lee family had to bring in new investors who paid at least 2.8 cents per share.
After restructuring in 2017, the company’s performance has been on an overall uptrend, gaining analyst recognition. Along with greater market visibility, the company has drawn the attention of an industry veteran, who is happy to pay 13 cents per share. So far in 2026, Michael Kum, through his investment entity, Halom Investments, has purchased 210 million shares in the Mainboard-listed MPM. Halom bought 150 million shares from Apricot Capital and 60 million from Penguin International, increasing Kum’s stake in MPM to 5.77%.
