In today’s briefing:
- kopi-C with Marco Polo Marine’s CEO: ‘We want to be an offshore wind leader in Asia’
- Tariffs Will Affect Tire Industry; Rubber Market
- Upcoming Earnings Reports: DBS, OCBC, and UOB in Focus
kopi-C with Marco Polo Marine’s CEO: ‘We want to be an offshore wind leader in Asia’
- Marco Polo Marine shifted focus to the offshore wind sector in Asia, achieving profitability with S$123.5 million revenue and S$21.7 million profit for 2024.
- The company repurposed assets from offshore oil and gas to offshore wind, expanding operations in Taiwan, South Korea, and Japan.
- Marco Polo Marine is enhancing its infrastructure with a new commissioning service operation vessel and a fourth drydock to support offshore wind projects.
Tariffs Will Affect Tire Industry; Rubber Market
- Tire industry to be a collateral damage in the tariff battle
- 91% of projected light truck tire requirement is import reliant
- Trade balance tipping towards China and Canada
Upcoming Earnings Reports: DBS, OCBC, and UOB in Focus
- The combined weightage of DBS, OCBC, and UOB in the Straits Times Index increased to 54.3%.
- Analysts revised the 12-month Consensus Estimate Target Prices for DBS, OCBC, and UOB upwards in 2024.
- DBS launched a S$3 billion share buyback program, marking its first share cancellation after buybacks.
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