$MarcoPolo Marine (5LY.SG)$ Maybank KE maintain BUY with a T...

Maybank KE maintain BUY with a TP of SGD0.08.

With oil prices rising, they expect charter rates to continue to rise in the near term and utilisation across MPM's vessels likely to remain high.

They also believe that its current valuation at 6.6x FY25E P/E is attractive as CSOV and CTV earnings should kick from FY25E. Coupled with expected increase in ship repair volumes, FY25E earnings should jump.

They believe that investors can potentially accumulate while awaiting completion of the CSOV due 1Q25, which is likely to be a key catalyst.