https://www.buletinmutiara.com/iconic-worldwide-celebrates-groundbreaking-of-ppe-manufacturing-facility-in-penang/?fbclid=IwAR1ReY9NbmzfIqnv8ESNL3V9O0UVFCUY5DbC1RjMpMF5uQwlDcQjCd5HehY

What is the reason to fly?

On behalf of the Board, M&A Securities wishes to announce that the Company has fixed the issue price for the Placement Shares at RM0.45 each.



The aforementioned issue price of RM0.45 per Placement Share represents a discount of approximately RM0.0405 or 8.26% from the five day volume weighted average market price of Iconic from 2 November 2020 to 6 November 2020 of approximately RM0.4905 per Share.



This announcement is dated 9 November 2020.

"With 5G on the horizon, encouraging massive data transfers at high speed, the need for cyber security and reliability of networks becomes paramount," said XOX executive director Roy Ho.

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3084689

Lets do a quick calculation. 3million pieces of mask/month, thus 9million pieces/quarter.
If earning 10sen profit/mask then the profit will be 900k. What if earning profit of 20sen/mask? Hmmm