I find Marco Polo Marine, an offshore and marine company, a rather interesting proposition at current prices of 31.5c to 32.5c a share.
1. PER of about 8x
2. Net profit margin just under 20%
3. NAV per share at 37c
4. Interest cover ratio at 8.3x
5. Gearing at 30%
Marco Polo Marine has the intention of listing an Indonesian subsidiary on the Jakarta Stock Exchange. This could unlock value as Kim Eng estimates the listing could value the company's stake in the Indonesian subsidiary at more than 30% of the company's current market cap.
Perhaps, it is the persistent insider buying over the last 12 months that really nailed it for me here:
| Announce Date [Date of Effective Change] |
Buyer/ Seller Name [Type] |
S/ W/ U |
Bought/ (Sold) ('000) |
Price ($) |
|
|
| After: No. of Shares ('000) |
% Held |
| 05/06/12
[05/06/12] |
LEE WAN TANG [DIR] |
S |
1,095 |
0.325 |
195,311 |
57.02 |
|
| ... |
...
