Meghana Kande and Liew Siew Khee of CGS International continue to like Marco Polo Marinewith their "add" call on Marco Polo Marine, with prospects of more chartering revenue.

However, taking into account industry valuation de-rating, they have reduced their target price to 6 cents from 8 cents.

For its 1HFY2025, MPM reported core patmi of $9.6 million, down 14% y-o-y. Revenue in the same period was down 14% y-o-y to $52.7 million without third-party charter revenue of some $7.5 million in Taiwan. Shipbuilding activity was subdued as well.