Broker Name: Maybank Research Pte Ltd
Date of Report: January 25, 2026

Excerpt from Maybank Research Pte Ltd report.

Report Summary
• Singapore billionaire Michael Kum’s Halom Investments acquired a 4% stake in Marco Polo Marine (MPM), validating the company’s growth potential, especially given Kum’s strong marine industry track record.
• MPM secured a SGD198m shipbuilding contract, expected to contribute SGD50m revenue and SGD4m profit annually for four years, with further vessel capacity and contract wins anticipated.
• MPM is benefiting from strong demand in both oil & gas and renewable energy sectors, especially offshore windfarms, and is in a rapid growth phase with rising charter rates, vessel utilisation, and net profit projections.
• The company maintains a robust balance sheet with net cash, and is expected to see strong EPS growth and increasing dividends as profitability rises, despite risks from global slowdowns or regional conflicts.

Above is an excerpt from a report by Maybank Research Pte Ltd. Clients of Maybank Research Pte Ltd can be the first to access the full report from the Maybank website : https://www.maybank.com/investment-banking