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MarcoPolo Marine *Official* (SGX:5LY)

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Old 16-12-2015, 01:33 AM   #1
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MarcoPolo Marine *Official* (SGX:5LY)

Hello everyone, I am new here..

Have anyone think there is potential in Marco Polo Marine?
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Old 16-12-2015, 01:47 AM   #2
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Dun touch....
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Old 16-12-2015, 02:02 AM   #3
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Dun touch....
What shares would you recommend that is cheap and has potential?
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Old 16-12-2015, 02:18 AM   #4
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What shares would you recommend that is cheap and has potential?
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Old 16-12-2015, 11:47 AM   #5
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Wah why ISOTeam? seems like on a bull run!
Start a new thread. Interesting counter.
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Old 16-12-2015, 12:00 PM   #6
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Start a new thread. Interesting counter.
Oredi started

http://forums.hardwarezone.com.sg/st...A-5253170.html
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Old 16-12-2015, 12:04 PM   #7
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The first question to ask, is why you are interested in company that is losing money?

Also why you are investing in a company that has unsettled legal dispute with some well known company?

Whats your logic behind thinking this company is a good buy for long term?

If you are unsure of your reasoning, then say no to buying
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Old 17-12-2015, 11:30 PM   #8
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The first question to ask, is why you are interested in company that is losing money?

Also why you are investing in a company that has unsettled legal dispute with some well known company?

Whats your logic behind thinking this company is a good buy for long term?

If you are unsure of your reasoning, then say no to buying
Thank you

Initially I thought that they are way too undervalued and that they will recover from this lawsuit and setback. But your reasoning is much more rational and I will follow your advice(:
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Old 17-12-2015, 11:37 PM   #9
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Thank you

Initially I thought that they are way too undervalued and that they will recover from this lawsuit and setback. But your reasoning is much more rational and I will follow your advice(:
In Singapore, stocks which have lawsuits tend to be shorted down, especially if it's a big company vs a small one.

IIRC a financial blogger did mention that Marco is a speculative rig owner or something. That's why homework using Google is important.

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Old 14-08-2017, 11:20 PM   #10
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Debt-ridden Marco Polo Marine plunges further into the red, with Q3 net loss widening to $304 millio

Debt-ridden Marco Polo Marine plunges further into the red, with Q3 net loss widening to $304 million

http://www.straitstimes.com/business...ed-with-q3-net

SINGAPORE - Struggling shipping services firm Marco Polo Marine saw widening losses in the third quarter, posting a $304.2 million net loss for the three months ended June 30, from a $6.4 million net loss the year before.

Revenue stayed relatively flat year-on-year, at $9.1 million .

The ailing company has suspended trading of its shares since May 2017, as a debt refinancing and restructuring plan got underway.

Marco Polo Marine said it is in advance negotiations with potential investors to raise fresh funding.

"The long-term prospects of the group, in particular, its ability to continue its business and operations in the next 12 months, are dependent on the ability of the group to achieve a successful refinancing and debt restructuring," it added.

But the board of directors noted that there is no assurance that the group may successfully complete its refinancing exercise or raise enough fresh funds to sustain operations for the next 12 months - especially with the gloomy outlook for the oil and gas and marine industries.

Loss per share stood at 91.81 cents, against 2.23 cents in the same period a year ago, while net liability value per share amounted to 44.8 cents.

Marco Polo Marine draws its revenue from two key segments - ship chartering and ship building and repair.

While it has improved utilisation of its tugboat and barge fleet, the gain in turnover was offset by a decline in dry-dock and repair jobs.

It noted that there is nothing due from customers in the present quarter, with net liabilities having ballooned to $150.8 million against assets of $158.8 million as at Sept 30, 2016.
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Old 24-10-2017, 08:15 PM   #11
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Exclamation Marco Polo asks noteholders' to vote on big haircut, waivers for 5.75% bonds due 2016

Marco Polo asks noteholders' to vote on big haircut, waivers for 5.75% bonds due 2016

http://www.straitstimes.com/business...-for-575-bonds

SINGAPORE - Beleaguered shipping services firm Marco Polo Marine is seeking noteholders' approval to take a big haircut and waive key obligations for a S$50 million series of 5.75 per cent notes due 2016.

The company is asking, among other things, that noteholders allow the company to redeem the bonds by January 2018 by paying S$35,868 in cash and the same amount in 1.02 million shares priced at 3.5 Singapore cents per share, amounting to a combined redemption amount of S$71,736.

They will vote on the debt restructuring at a meeting to take place at 11am on Nov 15 at Ocean Financial Centre.

Marco Polo said in its notice to noteholders on Tuesday (Oct 24) that it has been in discussion with a group of investors to raise about S$50 million to S$60 million, but as part of the conditions to this, it must undertake a restructuring of all of its secured and unsecured debt.

As of June 30, 2017, total debt was about S$260.8 million, comprising about S$250 million in secured debt and S$10.8 million in unsecured debt.

In addition, Marco Polo said it has contingent liabilities from guarantees provided in connection with the majority of the loans taken on by the group companies.

Among the many risk factors the company outlined in a separate statement, Marco Polo said it suffered net losses of S$309 million for the nine months ended June 30, 2017, and expects to record net losses for the full year. This will be mainly due to lower utilisation rates of the group's vessels and lower charter rates, decreased revenues from the shipbuilding business and various impairment charges.

There cannot be any assurance that the company will be able to continue as a going concern, it said.

It added that if passed, the extraordinary resolution will be binding on all noteholders, even if a noteholder did not vote for it. This includes all claims against the company resulting from any breach of the financial covenants or any non-payment of the outstanding principal amount of the notes on the original maturity date, which will be waived if the extraordinary resolution is passed.
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Old 25-10-2017, 09:46 AM   #12
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50 millions become 70k

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Old 27-10-2017, 03:39 AM   #13
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Wu yar boh?
50mil become 70k???

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Old 27-10-2017, 05:59 AM   #14
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$250,000 bond becomes S$35,868 in cash and S$35,868 in 1.02 million shares priced at S$0.035 apiece, amounting to a combined redemption amount of S$71,736..

Approx 71% haircut
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Old 27-10-2017, 06:18 AM   #15
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$250,000 bond becomes S$35,868 in cash and S$35,868 in 1.02 million shares priced at S$0.035 apiece, amounting to a combined redemption amount of S$71,736..

Approx 71% haircut
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