Good news lah..yahoo. Financial year end net profit 586.904 million (increased 4.22%)

pui pui pui this share........curse it forever drop, pui pui pui

EPF selling to reduce their share for the merger

don't pui pui this share la...very shui one, tomorrow sure drop to 50cents :P

are u sure susie?

optimus don't pui pui DS, very sui one...tomorrow sure drop to 50 cents

EPF been buying this week, maybe they already know the result...

when will this stock move..%3F

hoseiliao...dont say like that lah, pavillion knows the insider one..he will bring the fuelsub project...then u all will sure cry one....

hoseiliao r u refering to Pavillion?

pls don't pui pui DS, soon fuelsub will come..then u will regret it a lot

don't worry guys, Fuelsub project is coming...CBB info

the RM billion broadband project will be awarded to DS by 2Q - only insider know this news...

DS will get the fuel sub project next month - inside news

Karma, where do u get this news from?

Icon price everday new low...good luck to u all

icon everyday new low...good luck to u guys

good news coming...fuelsub

fual subsidy is confirm by next year...inside info

PETALING JAYA: On a day when most stocks were on an uptrend on the back of the market gaining 28 points, Icon Offshore Bhd, the oil and gas (O&G) service provider of Ekuiti Nasional Bhd (Ekuinas), saw some heavy selling.

The selling came amidst the end of a six-month lockup period imposed on the promoters, namely, Ekuinas and Icon’s chief executive officer Jamal Yusof from the date of Icon’s listing on June 25.

Ekuinas and Jamal collectively own some 52% of Icon.

Ekuinas’ equity holding in Icon is held via its wholly owned Yayasan Ekuiti Nasional’s two entities, Sempena Focus Sdn Bhd (2.41%) and Hallmark Odyssey Sdn Bhd (42.28%). Jamal owns 5.02% of the company.

The stock closed 19 sen or 19.5% down to 78.5 sen. It was the most active counter of the day, with 68.76 million shares being done.

This is a 58% descent from its initial public offering (IPO) price of RM1.85. At current levels, the stock is also trading at a price earnings ratio (PER) of 8.32 times its 2014 earnings.

Analysts when contacted feel that Icon shares could continue to suffer from overhang issues until Ekuinas and probably Jamal make clear their long-term strategy for the company.

“While the downside may be limited due to its single-digit valuation, the upside will definitely be capped by the overhang issues,” said an analyst.

As Ekuinas is a private equity company with a time horizon of some three to five years, and given that its investment in Icon started in 2012, this implies that the Government-funded firm may potentially exit the group by 2017.

“But that does not have to be the case. It will all depend on the kind of valuations Ekuinas has on Icon. Why should they sell when the market does not favour O&G stocks,” said a fund manager.

In June, Ekuinas successfully listed Icon, one of its investee companies, selling a 44% stake at what appeared to be a toppish valuation of 24 times PER (based on its IPO price of RM1.85 and earnings per share of 7.61 sen last year).

For the third quarter ended Sept 30, 2014, Icon’s net profit was down 16.89% to RM18.95mil on the back of a 22.7% decrease in revenue to RM79.75mil.

After Icon’s listing, Maybank Investment Bank Bhd had enacted some price stabilisation action to support its share price.

During the period between June 25 and July 24, Maybank had undertaken stabilising actions, where a total of 43.67 million shares were purchased at a price range of between RM1.80 and RM1.85. The last purchase was made on July 24 at RM1.80.

Icon is the largest pure play offshore support vessel (OSV) provider in Malaysia and one of the largest in South-East Asia (SEA) by fleet size, according to an Infield Systems report.

It owns and operates 32 Malaysian-flagged vessels and has one of the youngest vessel fleets in the region, with an average age profile of five years (SEA’s industry age average is 11 years).

Icon can trace its early history to Tanjong Offshore Bhd. In 2012, Ekuinas bought Tanjong Offshore’s marine vessel service arm, Tanjung Kapal Services Sdn Bhd, for RM220mil.

However, the OSV sector is now undergoing an oversupply situation, especially among the smaller players, where margins have been coming down. The sector is expected to face more pressure next year in the face of lower oil prices and reduced expenditure by Petroliam Nasional Bhd (Petronas), which on average spends some RM60bil a year.

Petronas has said that it would cut expenditure by between 15% and 20% next year in line with the lower oil prices.

this icon everyday new low..maybe will reach 20cents

T ANANDA Krishnan’s Bumi Armada Bhd is back in the news amid the slump in oil prices – and for the right reasons too.

This week alone, the stock that came down to as low as 98 sen on the back of slumping global crude oil prices, has hogged the limelight twice.

On Monday, a research house did not discount the possibility of Bumi Armada being privatised, considering that it is being bashed down to less than its book value of about RM1.57 per share. Since the report surfaced, the stock has seen some buying support, probably by speculators believing that Ananda could privatise the company.

Later in the week, another report emerged – this time speculating that Ananda was looking for buyers for his 34.9% block in the company.

Between the two, if anything were to happen, it would be likely the privatisation of Bumi Armada, the largest provider of floating production, storage and offloading services in Asia.

Trading at below book value and a healthy orderbook of more than RM21bil, with its contracts spread out across the region up to Africa, Bumi Armada is easily one of the better-positioned oil and gas service providers to weather the storm.

It does not depend very much on Petronas for jobs. However, it has contracts in Africa, particularly in Nigeria, where oil production is down due to the weakening local currency there and lack of investments.

Ananda is known to take undervalued companies private. He has privatised Maxis Communications Bhd, Measat Bhd and even Astro Malaysia Holdings Bhd before. Maxis and Astro were relisted.

Even Bumi Armada was privatised in 2003 before being relisted at RM3.03 in 2011. Recently, there was a rights issue, following which the theoretical ex-price was about RM1.80.

Ananda is not known to sell cheap. So, that leaves only one option left – privatisation

AhMoi...pls share the answer to your question

T ANANDA Krishnan’s Bumi Armada Bhd is back in the news amid the slump in oil prices – and for the right reasons too.

This week alone, the stock that came down to as low as 98 sen on the back of slumping global crude oil prices, has hogged the limelight twice.

On Monday, a research house did not discount the possibility of Bumi Armada being privatised, considering that it is being bashed down to less than its book value of about RM1.57 per share. Since the report surfaced, the stock has seen some buying support, probably by speculators believing that Ananda could privatise the company.

Later in the week, another report emerged – this time speculating that Ananda was looking for buyers for his 34.9% block in the company.

Between the two, if anything were to happen, it would be likely the privatisation of Bumi Armada, the largest provider of floating production, storage and offloading services in Asia.

Trading at below book value and a healthy orderbook of more than RM21bil, with its contracts spread out across the region up to Africa, Bumi Armada is easily one of the better-positioned oil and gas service providers to weather the storm.

It does not depend very much on Petronas for jobs. However, it has contracts in Africa, particularly in Nigeria, where oil production is down due to the weakening local currency there and lack of investments.

Ananda is known to take undervalued companies private. He has privatised Maxis Communications Bhd, Measat Bhd and even Astro Malaysia Holdings Bhd before. Maxis and Astro were relisted.

Even Bumi Armada was privatised in 2003 before being relisted at RM3.03 in 2011. Recently, there was a rights issue, following which the theoretical ex-price was about RM1.80.

Ananda is not known to sell cheap. So, that leaves only one option left – privatisation. But why would he, considering that the global oil price slump has yet to stabilise?

maybe this is a trick, one day announce to take it private,,then next day announce to sell his stake....maybe he wants to buy low

if ASB n EPF is buying...means we r on the right stock...

Thursday, 18 Dec 2014

5:32PM ARMADA AmanahRaya Trustees Berhad - Skim Amanah Saham Bumiputera ("ASB") (14,379,000 units Acquired)

5:32PM ARMADA EMPLOYEES PROVIDENT FUND BOARD (2,000,000 units Acquired)

next few days will uptrend...bcos AK will be buying all back

icon will drop to 0.50 cents

price could be 2.00 for them to do privatized...

this share NAT is 1.59...no way it can go down further. once oil price increase BA will be the first to rebound

now EPF will start buying BA

KUALA LUMPUR (Dec 8): Bumi Armada Bhd’s counter gained as much as 4.8% or 5 sen today after CIMB Research maintained its “add” rating on the counter for its long-term fundamentals and firm order book of RM21.8 billion.

As at 4.11pm, Bumi Armada settled at RM1.07, up 3 sen or 2.88% with 26.88 million shares changing hands, giving it a market capitalisation of RM6.28 billion.

On Friday, the company told Bursa Malaysia that its CEO and executive director Hassan Assad Basma would relinquished his positions with effect from Jan 1 next year.

It said Hassan had requested for an early release of his contract of employment due to family reasons.

Prior to that, Hassan had sold the remainder of his equity stake amounting to 2.74 million shares in the company on Dec 4 via two separate transactions at RM1.02 and RM1.03 apiece. He sold the shares due to margin calls.

Pending the appointment of a new CEO, Chan Chee Beng, a member of the board since 2003, has been re-designated as executive director and acting CEO.

He has been a member of the executive committee since 2008, acting as its chairman since last year.

“Under his [Hassan’s] leadership, Bumi Armada has climbed a notch to No. 5 in the world’s FPSO league table over the past three years. While his resignation as CEO is a negative development, we take comfort in the company’s long-term fundamentals, supported by a firm order backlog of RM21.8 billion,” said CIMB Research in a note to clients today.

“We continue to value the stock at 21.2 times calendar year 2016 (CY16) price to earnings ratio (P/E), still at a 30% premium over our target market P/E of 16.3 times pending a review of our premium valuations. Maintain ‘Add’ with a strong FPSO contract pipeline as potential re-rating catalyst,” it added.

It told its clients to take advantage of the share price correction and accumulate shares in the company.

It was also upbeat on Bumi Armada’s fundamentals despite the current oil price weakness, “anchored by its firm order book of RM21.8 billion, excluding the 10-year US$1.18bn Madura contract and extension options worth RM11.8 billion”.

“The company is currently bidding for four FPSO projects - one each in Ghana, Nigeria, Namibia and Angola,” it added.

KUALA LUMPUR: CIMB Equities Research has advised investors to take advantage of the share price correction in Bumi Armada and accumulate the shares.

It said on Monday that despite the leadership change with Hassan Basma is stepping down as CEO due to “family reasons” and current oil price weakness, it continues to like Bumi Armada’s long-term fundamentals.

CIMB Research said the company’s fundamentals are anchored by its firm order book of RM21.8bil, excluding the 10-year US$1.18bil Madura contract and extension options worth RM11.8bil.

“The company is currently bidding for four FPSO projects - one each in Ghana, Nigeria, Namibia and Angola,” it said. Its target price for Bumi Armada is RM2.56, which is a massive 146% above its last traded market price of RM1.04.

CIMB Research said Basma told them that while he was stepping down as CEO due to “family reasons”, he would stay on as a consultant until mid-2016.

Under his leadership, Bumi Armada has climbed a notch to No. 5 in the world’s FPSO league table over the past three years.

“While his resignation as CEO is a negative development, we take comfort in the company’s long-term fundamentals, supported by a firm order backlog of RM21.8bil.

“We continue to value the stock at 21.2 times CY16 price-to-earnings (P/E), still at a 30% premium over our target market P/E of 16.3 times pending a review of our premium valuations.

“Maintain Add with a strong FPSO contract pipeline as potential re-rating catalyst,” it said.

C_Bee_Hong ... if exp date 2023, how much is this warrant suppose to be?

berakah...how to sell without making loss? maybe next year will improved

lloydlim...where did u get the TP from?

Will his resignation cause any effect to BA?

fuelsub project coming next month..be patient

Thc8168...cut loss before to late, this stock going down

“Rule #1: Don’t lose money. Rule #2: Don’t forget Rule #1.” – Warren Buffett

i will start buying when it reach 50cents...maybe by next year

sunztzhe can we meet up one day...this is my email salmanz13@yahoo.com

good 3Q report for icon..but still downtrend this stock. i will start to buy when it reach 0.50cents

i'll start buy in when it is below 0.50 cent

if reach 50cents...then we start buying again

bottom maybe until 50cents

sunztzhe..i find ur writing make more sense due to DS current performance...

im new here, does bimb-wa give dividend?

feel like this stock will take a long time to get back where it was, just wandering how many of u got stuck big time here. instead of making money we lost money here..cut loss and move on to other performing stock guys