LK036...kenapa tak percaya? No need to pay anything besides processing fee around RM21.20 + bank charge of RM0.53 for the processing fee cheque (both inclusive GST) per conversion. Not everyone wants to convert now because LA pays interest of 2.5sen (at current mother price of 39sen =6.4% yield), whereas mother pays (if any) negligible dividend. In fact I find it strange that there are some who converted at this early stage. Unless the price difference between mother and LA is bigger then no point converting in the hope of making that extra 1 sen

zoomsbooms..I don't quite get what you are saying. Although conversion price is RM0.50, conversion mode is via tendering of LA, meaning if you own LA, to convert you don't pay anything. How you get RM0.89?

Yingkang87..no, it is UMWH distribute 1,204,777,400 UMWOG shares to UMWH shareholders. Roughly, PNB+ASB+KWAP would get 673M and presumably these 3 would not sell the OG shares they get. EPF would get around 145M and the rest of UMH shareholders around 387M.

My guess is EPF may sell some to cut losses and mitigate RI cash outflow. The problem is with that 387M. It's anybody's guess how many of this will be sold. If 20% sells that would be 77M OG shares in the seller side and with recent daily total trade of < 5M, nightmare for existing OG shareholders!!!

IMHO those that want to buy cheap and subscribe for RI can wait until after UMW distribute their OG shares next week. There should be at least 400M distributed to their shareholders besides PNB + PNB unit trust. If 20% of these new OG shareholders don't want to pay RM67M for the rights, they would sell before OG RI. OG shares should easily go below 40 sen.

High of 2.36. When was this???

Everytime mother goes up, warrant goes up in tandem, then the directors quickly sell their warrant. I wonder is it the directors way of losing a bit in mother by buying up the price, then sell warrant when the price goes up in tandem with mother???

Funny counter and weird investors. When investment banks were quoting TP between 68 to 80sen everyone were trading at around 91 to 95sen (above TPs). Now IB 54 to 91 sen not many buyers dares to buy at 50.5sen(below TPs).

I somehow doubt electric cars are powered by generators. Presumably they are battery powered. Yes, if more electric car means lesser fossil fuel consumption.

I hope Bio does not make any bonus share issue.

Ryotan11..oiiii,,,you buy OR you ain't getting anything from post or email automatically.If you are still interested in applying for the rights, call your remisier, ask him/her to email form to you immediately. I am not sure whether the form in Anzo's announcement can print & use or not. Sending by post to share registrar may not reach them b4 5pm tomorrow. You either send by hand or get a courier/despatch that can guarantee tomorrow b5 5pm can reach.

jumbojet..how you know no such thing?

Ryotan11..you ask weird question bro. Hua Joshuaayoung already given you answer. You buy bank draft RM40K, send draft with form, and you get 200000 share + 100000w. That's it. Nothing else. Also tomorrow is last day to for your draft + form to reach share registrar

lwh..tq

Alex, no lah. Co/Directors never mention sell land. ZESB owes Eden money, and ZESB selling land to pay off the loan(has been like this for quite a while. (This is stated in the announcement by Board in response to the auditors qualification). The only place you see Co plan to sell land is in the auditors report. Auditor say, not Directors/Co????

Pavillion..agree with everything you said except the auditor comment. I understand that auditor now no choice but to mention going concern when certain financial criteria triggered. Previously, they just keep quiet as long as the Directors can come out with some cock & bull story to ease cash flow.

As for banks easily extending credit, that is plausible. This assume that bankers are dumb to give further credit to a co that do not have the means to settle current borrowings???

Cotopaxi...UMWOG after RI is debt free?? Very unlikely. AT 31.03.17, Co has RM3.8B of loans. Monies from RI will setoff only RM1.5B. Lagi ada RM2.3B of borrowings????

The proposed rights issue also expected to complete by 3rd qtr. UMW have to distribute before OG call for rights. I imagine after the distribution those new shareholders who don't want to subscribe for rights would be scrambling to dispose their shares. Durian runtoh sales!!!!

Proposed distribution not cancelled. Barring unforeseen circumstances, the proposed distribution is expected to be completed by 3rd qtr of 2017

lwh888...which banker???

Land selling is guessing game. Co did not mention anything about selling land. It is possible that Co MAY sell land to ease cash flow problem but as wealth seeker mentioned above, there may not be buyer. Additionally, whilst it is possible that land is worth RM12psf now, fact still remain that :
(1) portion of land sold on 25.06.15 at RM6.50psf
(2) fair value of land at 31.12.16 is RM165M (RM8.40psf)

Several years ago Mulpha sold off Hilton Aus for RM327M...then have rights issue...today still highly geared. Based on past Directors actions, having rights or selling assets also will not reduce gearing. Mulpha perpetually sell assets, rights issues, increase borrowings, etc, etc...don't know what happens to the billions from rights and borrowings. Son of Lee Ming Tee..bravo

Ryotan11..pls read i3trader and tecpower post above. The answer to your questions is there. As for the amount, the computation is above also

Cimbnet..it's ok, you still have the other arm to make more in future

win888win...If you intend to subscribe, you need to ask your remisier to email the rights form to you. Your form + payment must reach the share registrar before 5.00pm of 09.06.17. You better hurry because some brokers (nominee a/c) if apply through them last day is today!!!!

The amount for 15,000 rights is 15,000 x 0.20 = RM3,000.
As to whether you should subscribe or not, read both Angelo's and tekken's posting yesterday and draw your own conclusion....Kakaka

The directors of ICON few of which are accountants..they are an embarrassment to the accountancy profession. How on earth can they produce accounts that doesn't even comply with Companies Act

Agree with JoshuaMS7..should be below 20sen. Excluding deferred tax gimmick and impairment/fair value gain(also accounting gimmick), Icon at its best per annum makes < 2 sen per share (EPS < 2sen). Petronas also cutting production, how to earn more than 2 sen per share.

iHunter...BOLEH KAH NEXT QTR make RM150M profit?? That is around 13 sen per share. If can then share price would continuously limit up few weeks to reach RM2.60. That would set some sort of Guiness record!!!!

@sharemakers..Greenlang going to get what project? Project to buy Hermes bag??

@sozai..do you mean subscribe instead of convert? Yes, all the money used to buy OR will be burned if did not subscribe

Yes, debts can be lowered...have another rights issue.

Change or no change, doesn't matter. As an organisation managed mainly by accountants (not businessman), goodness, if can't run business, at least do what they are (apparently) good at i.e. being accountant. That also don't know how to come out with the QR on time. There are companies with operations all over the world with diversified businesses that can report on time (Moreover Directors are not accountants), yet, Icon, small company with mostly one customer and probably 20 sales invoice a quarter, can't produce their QR within 2 months from the QR date. If properly managed, they should be able to report within 2 weeks after the QR date. I understand some European and American listed conglomerates produces their annual accounts within 2 weeks of year end. Malaysia boleh..Icon boleh

I thought that O&G is specialized biz requiring people with specialized knowledge in this field of trade. I just noticed that that most of the Board of Directors are bloody accountants. Accountants are normally great at numbers crunching..they are not renown to have great biz acumen. When the going get tough, great/tough bizman get going. Unfortunately with a board full of accountants I suppose in board meetings they can discuss Icon numbers instead of how to grow Icon biz!!! Useless Directors..apparently accountants...can't even get the QR accounts out early. Last day and after 5pm still can't get those figures out shows that they are useless accountants. LOL

Calvin Tan was right spot on when he call to dump Icon shares few months back

chinaman...RM1???? TP RM2.45

moneycashrich..good/bad qtr does not matter. I guess the reason Malton went from 0.60 to 1.30 due to speculation of WCT merger and from 1.30 up is due to Bdr Msia speculation. If, of course a BIG BIG IF, news out that Malton tendered for BM, it will fly again. On the other hand if did not tender, then like London bridge, it will come tumbling down...KAkakaka

Waseh, hng33 has Malton team working in there. Like this, he with inside info cabut, we without inside info also better lari kuat kuat

@@martinbartesque...give or given to/by Malton??

01.06.17 WCT seek approval for RRPT of RM3B (looks like receiving). Validity of approval is until next AGM i.e around 6/2018.

07.6.17 Malton seek approval for RRPT of RM2B (looks like giving). Validity of approval until next AGM, probably 11/2017.

Between 07.06.17 to Nov 17, hmmmmm, will Malton give RM2B project to WCT.

Anybody's guess!!!

This is really strange.

This RRPT if approved is valid only until the next AGM which is normally held around last week of Nov i.e. Nov 2017. Does that mean Malton is ready (cannot wait until 11/17 for RRPT) to award a contract before Nov 2017?

What is even more strange is that Malton at the moment does not have any new project worth > RM2B??? Obviously Malton is not getting anything from Desmond worth >RM500M since the RRPT approval from the last AGM is only RM500M.

The TTDI project once started apparently does have a huge GDV but these are normally done and awarded in Phases.

Given that Malton does not have any new project worth >RM2B, does that mean, between now and Nov 17, Malton expects to start/obtain projects worth >RM2B??????

oolalala , Malton gonna get a piece of action in Bdr Msia.......LOL

From the look of the circular, looks like Malton is awarding that RM2B contract. However, I think it is awarding to WCT. WCT's coming AGM on 01.06.17 also has RRPT resolution for RM3B to be awarded.

cwingz Hng33, how come in the circular it sounds like desmond is taking 2billion from Malton instead of giving.

"The new Recurrent Related Party Transactions which are covered under the Proposed
Shareholders’ Mandate comprise mainly the award of construction and project management or
construction related services contracts to the Related Parties

moneycashrich..you cut loss at 1.77??? Sure or not? I remember several months back when nobody were interested in Malton, we were the few idiots that took an interest in Malton???

The Rock, Malton WB premium higher than before..the indication is that those traders believes in "The greater fool" theory. Kakakaka.

Acceso..seems like you are picking on hng33??? Kakaka. Hng33 nice person, never pick on anyone, always buying and selling (whether for fun or for income generating purpose). Make money or lose money also he say. Better than those who jerit jerit when make money and keep quiet when lose money. For syiok purposes, I also ikut dia few time, win some lose some.

Many months ago when UMWOG was trading at around 0.95 I pointed out that the Co is financially distressed. I was scolded by a few people here for talking nonsense. I hope I don't get told off for giving my sen worth of opinion. Now with this coming rights issue, I somehow doubt it can save UMWOG because based on their last QR, the co is not even generating cash from operations to pay for the interest i.e. effectively interest is serviced by borrowings as well. The only way would be to win PROFITABLE contracts but with Petronas announcing several weeks ago that they are also going to cut production, it seems UMWOG going forward is really going to be very tough. based on announced results, 2014 was their best year, earning about RM250M. If miraculously the co managed to match that result in the future years, its EPS would only be around 3.5 sen and Fully diluted EPS around 2.6sen. One need need be a genius to guess what the price would be with that EPS. Moreover with accumulated losses of >RM1.1B it will be many many years later before the co can pay dividend. My take is wait after UMW Holdings distribution of OG shares and see whether these new shareholders will dump OG shares.

Wonder why the European worries about the orang utans in Sabah. We can simply transfer all the orang utans in Sabah to KL. Afterall our parlimen is full of orang utans, add a few more from Sabah shouldn't be too burdensome

shareinvestor88...maybe value trap but Surin not dumb..he sees value in WCE parked in MWE. Taking MWE private is cheap way of acquiring 25% + of WCE

Tan Cheng Poh, play girls more dangerous..you may lose everything, house, car, underwear..all gone

Maybe someone who attend EGM can ask Surin to take MWE private since MWE is worth much more than the current price (MV = RM391M). Excluding the quoted investments, the biz of MWE makes profit around RM25M to RM35M a year. If PE of 10, these biz is worth RM300M. Throw in MWE's quoted investments worth around RM600M, i.e. easily MWE in total is worth RM900M. MWE shares not officially owned by Surin is 156M (probably there are some more owned by Surin but not in his name). If he forked out RM313M (say at RM2.00 per share), he gets to own 100% MWE worth RM900M. Moreover MWE has cash of >RM100M, can declare div RM100M to himself after he take private. So pay only RM200M. Kakakaka

EGM impact on share price? Formality only. Should not have any impact unless members with nothing better to do ask other questions and get positive replies from BOD and come out happy, then may buy and push up price.

Yes, very likely have reversal of fair value loss on Mudajaya but for Mar QR, may not be significant, probably around RM7,000K to RM10,000K only. However if price of Mudajaya maintain as of today, then Jun QR F.V reversal/gain would be much higher, by maybe RM50M or more??

rijack88..long term means 5, 10, 20, 30 years? By then probably UMWOG rigs can retire and recycled to make gillette razor. So need more rights to replace old rigs, then rights issue again? I am no expert in rig biz but I m sure the rigs cannot last forever and as time goes by, most likely newer and more advance/efficient rigs would be available.

SejukSaam, no need pity hng33. He expert in share market. He will laugh at your face when Malton hit RM100 once confirmed Bdr Msia, else if Malton goes any lower, he will launch takeover bid and take it private.

hallelujah..you left out..Setia, UEMS, Karambunai, MP Corp. BTW, IWH why nil? I thought although old agreement off, they can still tender to be master developer?

KLCI King...that one his boyfren lah. Naturally love him lor. By the way, it is good to have hng33 around. He/She is grandmaster of hours sometimes minutes trading.