the chairman said....''we want to prove our doubters wrong'...we are assembling a team'....'its abt the survival of our company' ...one brick also havent bought lor.
To Onitsa876 If you are holding 0.8 above, why not sell and rebuy at 0.5x? If the price goes up from 0.5x back to original also you are earning already. No point keeping 0.8 if you have confidence on this counter
No business is better than Glove manufacturing business as the set up cost is less than RM 200 millions and ICONIC share capital after PP shares issued is only 420 millions shares, one of the smallest shares capital of Glove venture businesses in Bursa...
For last six quarter, all positive earning records, with Glove and PPE expansion plans, the next QR even more better, it is a potential growth company in Health cares and Property businesses..
yungjack, next QR after 3 months, September QR released with RM 3 millions profit, debt to cash ratio, only 0.11 and current ration is 97 times, it means guaranteed profit for next QR result.. a very strong growth company with long term gains...
Cash holdings at September report is RM 27 millions plus recently Private Placement fund raising got RM 43 millions, total cash holdings now is RM 70 millions with only RM 3 millions short and long term debts, very very small..
Iconic management used the cash holdings bought a peace of leasehold lands for RM 12.5 millions and use the balance and started the Gloves and PPE factory...
Can anyone explain why Iconic shares prices has been under selling pressure, either forced selling or Private Investors selling their PP shares which they have subscribed for RM 0.45...
Can anyone explain why Iconic shares prices has been under selling pressure, either forced selling or Private Investors selling their PP shares which they have subscribed for RM 0.45... CANNOT SELL. HAVE TO HOLD 6 MONTHS. SAT 12 DEC. GROUND BREAKING CEREMONY FOR GLOVE FACTORY. PENANG CHIEF MINISTER OPEN
ironically for iconic, their tourism and property business never give profit as good as PPE related. If factor in the tourism industry and property, will it be better profit? Yes, given that those industry doesn't consume profit from PPE, otherwise, the QR will be hardly in black....and the share price will be back to 0.2 - 0.3 ...
Fact box: When and which Covid-19 vaccines are likely to be available in Asia
BEIJING/TOKYO/SEOUL/MANILA/TAIPEI/JAKARTA/DHAKA/HANOI (Dec 11): Trial data from Pfizer Inc with partner BioNTech SE, Moderna Inc and AstraZeneca Plc has shown their experimental vaccines are effective in preventing novel coronavirus infection. While regulatory processes are underway, few Asian countries expect to receive significant amounts of the vaccines initially. Here are estimated distribution time lines, supply deals announced and clinical trials being held in the region.
Australia The country has secured around 140 million doses: 53.8 million from AstraZeneca, 51 million from Novavax Inc, 10 million from Pfizer, and 25.5 million from distribution programme COVAX. It expects delivery of 3.8 million doses of AstraZeneca's vaccine in January and February next year and plans to begin inoculations in March.
China China has not announced supply deals with Western drugmakers, which instead have partnered with private companies in the country.AstraZeneca's vaccine may be approved in China by mid-2021 and its Chinese partner Shenzhen Kangtai Biological Products Co Ltd plans annual production capacity of at least 100 million doses by the end of this year. For the Pfizer/BioNTech vaccine, a unit of Shanghai Fosun Pharmaceutical Group Co Ltd plans a Phase II trial. Tibet Rhodiola Pharmaceutical Holding Co is bringing in Russian vaccine candidate Sputnik V and plans early and mid-stage trials in China. China has also approved three vaccine candidates developed by Sinovac Biotech Ltd and state-owned China National Pharmaceutical Group (Sinopharm) for emergency use, and Sinopharm hopes its two candidates will get conditional approval for general use this year.
Japan Japan has deals to buy 120 million doses from Pfizer/BioNTech in the first half of next year and 120 million from AstraZeneca - the first 30 million of which will be shipped by March 2021 - and 250 million from Novavax. It is also in talks with Johnson & Johnson and has a deal with Shionogi & Co Ltd. Experts said vaccine makers would need to conduct at least Phase I and II trials in Japan before seeking approval for use.
South Korea The country has deals to buy 20 million doses each from AstraZeneca, Pfizer and Moderna and another 4 million doses from Johnson & Johnson's Janssen, enough to cover up to 34 million people.It will procure additional doses for 10 million people through COVAX.Inoculation is likely to start in the second quarter of next year to allow time to observe possible side effects.
India The head of the Serum Institute of India, which makes the AstraZeneca vaccine, said on Nov. 23 the positive late-state trial result of the candidate will allow it to seek emergency use approval by year-end, before securing approval for full introduction by February or March. India also expects a government-backed vaccine to be launched as early as February. It is also conducting a late-stage trial of Sputnik V.
Taiwan Taiwan aims to secure around 15 million doses initially, both via the COVAX scheme and by direct purchases from manufacturers, and may buy an additional 15 million doses. The government has said it hopes to begin vaccinations in the first quarter next year.
Malaysia The Southeast Asian nation has agreed to buy 12.8 million doses of the Pfizer vaccine, becoming the first country in the region to announce a deal with the U.S. drugmaker after some expressed reservations over the need for the ultra-cold storage that the vaccine requires. Pfizer will deliver the first batch of 1 million doses in the first quarter of next year.
The Philippines The archipelago announced a deal on Nov. 27 for 2.6 million doses of the AstraZeneca vaccine and is discussing a possible 1 million more, covering about 1% of a population of 108 million people.It is also seeking 20 million to 50 million doses from Sinovac and is in talks with others, including Pfizer.Vaccine makers can seek approval from Philippine regulators even if no clinical trial is conducted in the country.
Indonesia Southeast Asia's most populous country has secured 125.5 million doses from Sinovac, 30 million from Novavax, is in talks with AstraZeneca and Pfizer to buy 50 million doses each, and expects to get 16 million from COVAX.Indonesia is testing Sinovac's vaccine and preparing mass vaccination for medical staff and other frontline workers to start as soon as late January.
Vietnam A government official said COVAX vaccines would cover only 20% of the population and the country is likely to have a chance to secure separate deals soon, as demand is very high.
Bangladesh Bangladesh signed a deal with India's Serum Institute to buy 30 million doses of the AstraZeneca vaccine.It also expects to receive 68 million doses from global vaccine alliance GAVI at a subsidised rate, a senior health ministry official said.
BATU KAWAN: Iconic Worldwide Bhd aims to become a leading glove maker in the world following its investment of RM155 million for a new personal protective equipment (PPE) manufacturing plant here in Penang.
Its managing director Datuk Tan Kean Tet said the group's wholly-owned subsidiary, Iconic Medicare Sdn Bhd, intends to manufacture and trade latex and nitrile gloves for household, industrial and medical use, as well as two main types of disposable face masks.
"According to the Malaysian Rubber Glove Manufacturers Association, the world demand for gloves is estimated to be 33 billion pieces a year and after the completion of our new manufacturing facility, we are capable of producing 3.3 billion pieces of gloves, which is equivalent to one per cent of the global demand.
"The demand for gloves has been on the rise of 10 per cent per annum pre-COVID, but it is expected to rise over 30 per cent per annum due to the pandemic. We have set our sights on producing 17 billion pieces of gloves which commands a global share of approximately five per cent," he said.
Tan said this at the ground breaking ceremony of Iconic Medicare's PPE manufacturing facility by Chief Minister Chow Kon Yeow here today.
He said the new facility will be installing and commissioning glove and disposable face mask production lines which are expected to yield a minimum production capacity of approximately 330 billion pieces of gloves and approximately 220 million pieces of face mask per annum.
"We expect the glove production to generate a potential revenue of RM1 billion a year while the production of disposable mask is expected to generate a potential revenue of RM100 million per annum once it's fully operational.
"In total, Iconic Worldwide is expected to generate a potential gross profit of RM450 million a year," he said.
He said the new manufacturing facility sited on 2.2 hectares is scheduled to be completed in July next year and operational in September 2021
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
ssboy
1,316 posts
Posted by ssboy > 2020-12-03 17:32 | Report Abuse
This price still can buy?