The worst seems to be over for integrated marine logistics company Marco Polo Marine (MPM) given the more “rational environment” in the offshore support sector says UOB Kay Hian analyst Clement Ho in an initiation report.

The counter had been badly hit by the 2014 oil crisis and has been showing signs of improvement, particularly after a corporate restructuring exercise on Nov 17 2019.

This saw a cash injection of $60 million which has since seen a return to full-scale operations and a positive EBITDA.

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