Stock Name: Marco Polo
Company Name: MARCO POLO MARINE LTD.
AmFraser Research in an Oct 18 research report says: "MPM announced that it has secured a shipbuilding contract worth US$27m for two units of 5,400bhp AHTS. By our calculation, this brings the shipbuilding order book up to $52.25 million, comprising 80% of our projected shipbuilding revenues for FY2012.
"Being only two weeks into FY2012 for MPM, this gives us greater confidence that MPM will meet our revenue expectations. Further, MPM also has in hand a $8.5 million contract for ship upgrading to be performed through FY2012.
"MPM's order book augurs well for a strong FY2012, and the early completion of the third drydock yields potential for upward revisions to earnings estimates. Fair value of 50.5 cents. MAINTAIN BUY."
Company Name: MARCO POLO MARINE LTD.
| Research House: AmFraser | Price Call: BUY | Target Price: 0.505 |
AmFraser Research in an Oct 18 research report says: "MPM announced that it has secured a shipbuilding contract worth US$27m for two units of 5,400bhp AHTS. By our calculation, this brings the shipbuilding order book up to $52.25 million, comprising 80% of our projected shipbuilding revenues for FY2012.
"Being only two weeks into FY2012 for MPM, this gives us greater confidence that MPM will meet our revenue expectations. Further, MPM also has in hand a $8.5 million contract for ship upgrading to be performed through FY2012.
"MPM's order book augurs well for a strong FY2012, and the early completion of the third drydock yields potential for upward revisions to earnings estimates. Fair value of 50.5 cents. MAINTAIN BUY."
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