Marco Polo Marine Ltd has announced a proposed reverse takeover of Fuji Offset Plates Manufacturing Ltd, valuing its shipyard business at up to S$139m. This strategic move aims to unlock significant intrinsic value for shareholders by establishing an independent, separately listed platform for the shipyard operations.
The transaction will see Marco Polo Marine’s shipyard business gain direct access to capital markets, enhancing earnings visibility. Despite the changes, Marco Polo Marine will remain the controlling shareholder, allowing existing investors to continue benefiting from the shipyard’s long-term growth potential.
Under the agreement, Fuji Offset Plates Manufacturing Ltd, the purchaser, will acquire all issued share capital of Marco Polo Shipyard Pte Ltd and MP Marine Pte Ltd. These entities collectively own and operate the group’s shipyard operations, including PT Marcopolo Shipyard in Indonesia. Upon completion of the transaction, the purchaser will be renamed “MPSE Ltd.”
This development marks a significant step for Marco Polo Marine, as it seeks to capitalise on its shipyard business’s value and growth trajectory. The proposed transaction is expected to provide a robust platform for future expansion and investment opportunities in the maritime sector.
