SINGAPORE (Yosefardi) – Marco Polo Marine Ltd’s total revenue increased by 21.0% to S$113.1 million in fourth quarter ended September 2014, grew by 21% from S$93.54 million in the same period of 2013.
Singapore and Indonesia (and to a lesser extent other regional countries in South East Asia) are the major markets for the Group’s ship chartering activities. The Group under takes its ship building and repairs activities in Indonesia.
Indonesia contributed revenues of S$50.52 million in fourth quarter of 2014, representing 44.7% of total revenues. While Singapore contributed S$47.9 million or 42.2%.
Compared to the same period of last year, Indonesia contribution grew by 26% while Singapore contribution rose 25%.
The Group, comprising Marco Polo Marine Ltd and its subsidiaries, is a reputable regional integrated marine logistic company which principally engages in shipping and shipyard businesses.
The shipyard business of the Group relates to ship building as well as the provision of ship maintenance, repair, outfitting and conversion services which are being carried out through its shipyard located in Batam, Indonesia.